{"id":1335,"date":"2023-11-23T08:55:10","date_gmt":"2023-11-23T08:55:10","guid":{"rendered":"https:\/\/aidanmccullen.com\/?p=1335"},"modified":"2023-11-23T08:55:10","modified_gmt":"2023-11-23T08:55:10","slug":"pillpack-snowballing-like-rabbits-a-pent-up-prescription-for-success","status":"publish","type":"post","link":"https:\/\/aidanmccullen.com\/?p=1335","title":{"rendered":"PillPack: Snowballing Like Rabbits, A Pent-Up Prescription for Success"},"content":{"rendered":"
\n

Imagine having two rabbits in a meadow, each pair having two babies. So, you start with two rabbits, then 4, then 8, and so on\u200a\u2014\u200ait keeps doubling exponentially. This is like a population explosion.<\/p>\n

However, at some point, there are so many rabbits that there isn\u2019t enough food for all of them. This makes it harder for the rabbits to survive. Some might die because there\u2019s not enough food, or they might get sick, or they might die in the fight for scarce resources.<\/p>\n

Nature has ways to control the population when it gets too crowded, like making some rabbits die or get sick. Only the strongest and fittest rabbits can survive when resources are\u00a0limited.<\/p>\n

From An S-Shaped Adventure with<\/p>\n

As Theodore Modis elucidates in his work, the S-curve visually represents population growth in both nature and business, embodying the principle of survival of the fittest. In nature, this curve starts with slow growth, accelerates exponentially, and eventually slows down as the environment reaches its capacity. The same pattern unfolds in business pastures, where only the most adaptable, innovative, and dominant\u00a0survive.<\/p>\n

(For more on S-Curves, check out the finale of our series with Theodore Modis\u00a0below.)<\/p>\n

https:\/\/medium.com\/media\/a387d5bd1754d54bdf82f1f772997e0e\/href<\/a><\/p>\n

From Meadow to Marketplace\u200a\u2014\u200aPillPack\u2019s Journey:<\/h3>\n

To illustrate this concept, let\u2019s delve into the S-curve\u2019s application to PillPack, a pharmacy startup that disrupted the industry with its innovative approach to prescription management.<\/p>\n

(PillPack is discussed in a forthcoming episode of The Innovation Show with Kaihan Krippendorff).<\/p>\n

Pent-Up Demand<\/p>\n

Pent-up Demand on The\u00a0S-Curve<\/p>\n

The First Two Rabbits\u200a\u2014\u200aPillPack\u2019s Inception<\/h3>\n

PillPack\u2019s founders, TJ Parker and Elliot Cohen, envisioned a solution to the complexities of prescription management while observing patients struggle with multiple medications. Their journey began in 2013 when they won MIT\u2019s Hacking Medicine Hackathon, launching PillPack from the Techstars accelerator.<\/p>\n

The Slow Slog\/Start<\/h3>\n

\u201cThe beginning seems to be more than half of the whole.\u201d\u200a\u2014\u200aAristotle, \u2018The Nicomachean Ethics\u2019<\/em><\/p>\n

PillPack\u2019s growth initially appeared slow. Over a year was dedicated to obtaining licenses and establishing relationships with pharmacy benefit managers. Advertising proved challenging due to misclassification on online platforms.<\/p>\n

Pent-Up Demand\u200a\u2014\u200aAccelerating Growth<\/h3>\n

\u201cAccelerated growth is a catching-up effect, usually attributed to pent-up demand.\u201d\u200a\u2014\u200aTheodore\u00a0Modis.<\/em><\/p>\n

Despite early challenges, frustrated customers welcomed PillPack\u2019s offering. By 2015, pent-up customer demand and PillPack\u2019s presence in 47 states led to $15M in\u00a0revenue.<\/p>\n

PillPack streamlined the pharmacy process by collecting customer prescriptions and insurance details via its online platform. Within PillPack\u2019s distribution centre, a combination of an AI dispensing system and licensed pharmacists collaboratively organises medications. The AI categorises pills based on characteristics like size, colour, and shape, promptly notifying pharmacists of any concerns. Medications are then shipped in a user-friendly dispenser featuring dates and dosage information. Patients have continuous access to PillPack\u2019s 24\/7 customer service for any inquiries.<\/p>\n

Market Saturation and a New Curve\u00a0Jump<\/h3>\n

As PillPack approached market saturation, challenges emerged. Competitors recognised the threat, and despite the success, PillPack faced low-profit margins and escalating expansion costs. In a strategic move in 2018, PillPack embraced a new S-curve, agreeing to be acquired by Amazon for\u00a0$753M.<\/p>\n

This curve jump means the company enjoys the advantage of Amazon fulfilment centres, Prime subscriptions, and Amazon\u2019s delivery network. Amazon recently announced the Prime health program, which offers affordable generic medications monthly\u2026 available by drone in under 60\u00a0minutes.<\/p>\n

PillPack\u2019s journey exemplifies the phases of the S-curve in business, from a slow start to accelerated growth and, ultimately, a strategic jump to a new curve. This evolution, analogous to nature\u2019s cycles, highlights the importance of adaptability and innovation in navigating the intricate dance of growth and competition.<\/p>\n

Happy Thanksgiving<\/strong><\/p>\n\n

PillPack: Snowballing Like Rabbits, A Pent-Up Prescription for Success<\/a> was originally published in The Thursday Thought<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>\n<\/div>\n

The post PillPack: Snowballing Like Rabbits, A Pent-Up Prescription for Success<\/a> appeared first on The Innovation Show<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Imagine having two rabbits in a meadow, each pair having two babies. So, you start with two rabbits, then 4, then 8, and so on\u200a\u2014\u200ait keeps doubling exponentially. This is like a population explosion. However, at some point, there are so many rabbits that there isn\u2019t enough food for all of them. This makes it […]<\/p>\n","protected":false},"author":0,"featured_media":1336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\nPillPack: Snowballing Like Rabbits, A Pent-Up Prescription for Success - Aidan McCullen \u2013 Keynote Speaker Ireland | Innovation & Leadership Expert<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aidanmccullen.com\/?p=1335\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PillPack: Snowballing Like Rabbits, A Pent-Up Prescription for Success - Aidan McCullen \u2013 Keynote Speaker Ireland | Innovation & Leadership Expert\" \/>\n<meta property=\"og:description\" content=\"Imagine having two rabbits in a meadow, each pair having two babies. 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