The pharmacy that quietly powered top startups in the hottest part of healthcare is trying to reinvent itself after losing customers and closing facilities
prescription-delivery services in response to the pandemic, Truepill's business was booming.
Eager to expand beyond pharmacy into other areas of healthcare, Truepill was considering eventually changing its name to ditch the pharmacy-specific branding, that former employee said. Since then, there's been a companywide push to inch closer to profitability, one of the current employees told Insider. The company has raised prices for clients, terminated contracts, and rejiggered its pharmacy operations as part of that effort, the employee said.
The closures should help protect Truepill if more of its clients shrink or shut down, since losing those clients would leave the startup with the same fixed costs but less revenue from orders, a current employee said. Truepill is making these changes to its pharmacy strategy after years of uneven operations in the facilities, Insider has learned.itself to investors and customers as a tech-enabled pharmacy startup, behind the scenes, much of the work at Truepill's pharmacies was manual, making its services far less efficient than a traditional pharmacy's, two former employees said.
At times, Truepill's sales team made promises to customers that its pharmacists couldn't fulfill, two of the former employees said.
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