Case Study: PatchRx CEO Andrew Aertker Warns Of Making Too Many Changes
There’s a fine line between making changes for a better process or technology and making too many changes.
PatchRx combines a universal smart pill bottle device with software to boost medication adherence and streamline real-time data back to providers. Starting in January, PatchRx's smart technology became reimbursable by CMS under new billing codes at an average of $186 per month for every patient they provide their services to. They've raised an additional round of capital, bringing in strategic venture partners and healthcare providers to accelerate our growth and expansion in various provider settings across the US.
Background: (Read For Necessary Context!)
Startup Spotlight #89: PatchRx - PatchRx improves patient health through smart technology.
What’s the most important thing you’ve learned since your last fundraising round or critical milestone?
As for the most important thing you’ve learned since our last fundraising round: There’s a fine line between making changes for a better process or technology and making too many changes. There is always so much more to learn and consistently new information in the market — whether it be around the complications in healthcare operations, customer feedback on product success, or internal PDE flows. Determining when and what to adjust is crucial, though. If you adjust and change every time there is a new idea or piece of feedback, you’ll end up with product and team spaghettification. Continuing to learn and keeping eyes and ears peeled for new information is huge, but making the tough decisions around which to include and which to dismiss is just as, if not more, important.