Online Veterinary Pharmacy Joins Inc. 5000
Online pharmacy Vetsource has been named on this year’s Inc. 5000 list as one of the fastest-growing private companies in the United States.
Oregon-based online veterinary pharmacy Vetsource just made its debut on the Inc. 5000 list after growing 150 percent over a three-year period. Inc. 5000 features some of the fastest-growing companies in America, and making the list is one of the most prestigious honors a young company can receive.
Vetsource currently works with just north of 14,000 veterinary hospitals providing several different services. In 2016, the company added 2,400 new practices to its outsourced pharmacy services network, which now serves more than 7,000 practices.
“It is an honor to be included on this year’s Inc. 5000 list,” said Asa Pogrelis, vice president of sales and marketing for Vetsource. “We now provide home delivery pharmacy services to over 61,000 veterinary health care professionals across the country.”
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With a decade under its belt, Vetsource posted $83 million in revenue last year. Forecasts now show the company shipping over two million orders to pet owners by the end of 2017, an increase of more than 600,000 orders over last year.
Vetsource integrates its technology solution as a service to veterinarians so they can meet their clients’ growing demand for convenient access to pet pharmacy products.
Pogrelis believes Vetsource’s approach is a testament to how the company tries to help veterinarians who use their online pharmacy services. “We’ve taken an approach where we feel it’s important to partner with the three major distributors in the U.S. market: [Patterson Veterinary Supply], Henry Schein and MWI Animal Health,” he said. “We work in concert with their collective 700 [representatives] in the field to try to bring greater awareness of our pharmacy services to veterinarians.”
Pogrelis said Vetsource’s intent is to grow overall revenue for veterinary practices while complementing their in-house pharmacy through an expanded catalog, driving compliance and helping veterinarians meet their clients’ needs for convenience.
On the Horizon
In 2010, Vetsource launched the ScriptRight service, an application that allows the health care team to create an order for a client, write a prescription, take the client’s payment and set up an auto-shipment of that medication in 60 seconds or less.
In June of this year, the company completed a rebuild of the ScriptRight application. “Not only is it now faster, it’s also a mobile-first design allowing veterinarians to use the application whether they’re on their desktop or their iPhone or their Andoid,” Pogrelis said.
He added that in the coming weeks, Vetsource will be launching a new feature called ScriptShare. If a client leaves the practice without making a purchase at either the in-house or online pharmacy, ScriptShare allows the veterinarian to email the pet owner with a link and a recommendation leading straight to the online shopping website.
“Unfortunately, there are more pet owners who leave the veterinary clinic not buying their pets medication than there are that actually purchase the medications,” Pogrelis said. “And that’s where ScriptShare fits in.”
Vetsource also plans to roll out a compounding service nationally beginning next year. When there isn’t a manufactured medication for a specific condition, veterinarians usually use a local or national compounder to create a specific medication for a patient.
This new service would make it easier for Vetsource customers to prescribe compounded medications for patients directly through ScriptRight. “We’re hoping [this service] further reinforces our commitment to helping veterinarians provide the best care to their clients,” Pogrelis said.