by Florian Hielscher, Euro on Sunday
Well, after all: After the introduction of the electronic prescription in Germany had been postponed again and again, there is now a concrete timetable. As the responsible national agency for digital medicine, “Gematik”, announced, pharmacies throughout Germany will accept electronic prescriptions from September 1st. The largest shareholder of Gematik is the Federal Ministry of Health, but interest groups such as the Federal Medical Association, the German Hospital Society and the German Association of Pharmacists are also represented.
The e-prescriptions from medical practices and hospitals are issued, with a staggering taking place here. Schleswig-Holstein and the Westphalia-Lippe region will start in September, the next six federal states will be determined soon. The mandatory introduction is to take place gradually. The other federal states will follow in 2023 and so will the nationwide distribution.
The electronic prescription is an important step in the digitalization in the healthcare sector and is primarily intended to save bureaucracy and time. But it is also worthwhile financially. The consulting firm McKinsey puts the savings for the healthcare system through the e-prescription at one billion euros a year.
Looking for growth drivers
The introduction has major implications for pharmacies in Germany. Medicines that require a prescription in particular are usually still purchased locally in stationary pharmacies. Accordingly, mail-order pharmacies see great potential in the electronic prescription of medicines. The shop Apotheke, which is listed in the SDAX, reported an increase in sales of 7.3 percent in the first quarter German speaking Space could only be increased by 1.9 percent. This was mainly due to a decline in prescription drugs.
In the pandemic year 2021, the company broke the one billion euro mark in sales for the first time and hoped for new growth drivers for the German business. The introduction of the e-prescription now enables faster access to a growing market with potential.
Big potential
As part of its figures for the first quarter, the SDAX group again explained the opportunities for e-prescriptions. The market as a whole has a lot of catching up to do, especially in the business with prescription drugs (RX). Only about one percent of prescription drugs in Germany are sold online, compared to 20 to 25 percent for non-prescription drugs. According to an analysis by the British bank Barclays, the introduction of the e-prescription could significantly boost online business for RX. Barclays points to the example of Sweden, where a trend towards a share of over ten percent was seen.
The previously minor importance of the RX business was also reflected in the outlook for the mail-order pharmacy from Venlo in the Netherlands. Sales of over-the-counter drugs are expected to grow by 15 to 25 percent in 2022, and the company has so far not made a forecast for RX drugs. The nationwide introduction of e-prescriptions could give a strong boost to a previously underdeveloped business area.
Potential: The introduction of the e-prescription should boost business. The brave are already positioning themselves. Risky.
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