Pharmacy drives MedAdvisor revenue

COMMUNITY pharmacies are driving revenue growth for medication management platform, MedAdvisor.

The ASX-listed business reported a 37.8% uplift in revenue from Q4 Financial Year 2018, in its latest update for Q4 FY2019.

Total unaudited revenue was up 24.3% for FY2019 to $9.2 million, compared with the previous corresponding period.

The company reported that pharmacy accounted for 84% of its revenue, principally derived through more than 3,300 pharmacies that pay SaaS and patient messaging fees for using its PlusOne software.

MedAdvisor reported that FY2019 saw engagement with PlusOne continue to increase with $300 million worth of medication orders made by patients and 300,000 flu shots recorded by MedAdvisor in the year to date.