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Award-winning system aims to make pharmacies safer

24 January 2024

An innovative 澳门开奖 start-up that harnesses AI and other new tech tools to reduce medicine-related errors in pharmacies has won an international business award.

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Photo caption:听澳门开奖 of 澳门开奖 MBA students Puneet Saini and Kieran Erasmuson have won an international award for their pharmacy management start-up, Script Sense.听

Script Sense is the brainchild of two Te Whare W膩nanga o Waitaha | 澳门开奖 of 澳门开奖 (UC) Master of Business Administration (MBA) students, Puneet Saini and Kieran Erasmuson, along with co-founder Rijul Gupta, a PhD candidate at the 澳门开奖 of Sydney.

The company has won the prestigious Start-up of the Year Award 2024 from the global Association of MBAs (AMBA) and Business Graduates Association (BGA), announced in London on 19 January.

Saini, Script Sense鈥檚 Chief Executive Officer, says the international recognition is a huge boost. 鈥淚t鈥檚 amazing to win this award, particularly since we are eagerly anticipating the release of our system later this month.

鈥淥ur goal is that by 2030, we will have expanded into six major international markets, servicing over 13,000 pharmacies, and generating over US$100 million in annual export revenues for New Zealand. This win is a real honour and will also raise our reputation and brand profile in key future overseas markets such as the United Kingdom and the United States.鈥

The global pharmacy market spends over US$14 billion annually on management systems. Script Sense is a cloud-based pharmacy management platform that aims to reduce the 2000 deaths a year that are caused by medicine-related errors in Aotearoa New Zealand. It harnesses technologies such as cloud computing, process automation, machine learning and artificial intelligence (AI) with the goal of improving productivity and creating a safer, more efficient healthcare experience.

鈥淭he number of deaths from medicine-related errors in New Zealand is higher than our road toll, Saini says. 鈥淲e believe we can make a dramatic dent in that number. It won鈥檛 happen overnight, but we hope our product will eventually eliminate most preventable human errors once it鈥檚 deployed to its full potential.鈥

He says there are a lot of inefficiencies and manual procedures in pharmacies and having a machine doing some of those administrative tasks will free up pharmacists to spend more time with their patients. 鈥淭hat鈥檚 what pharmacists tell me they want to do; talk to patients, increase their understanding of medication and improve healthcare outcomes. That鈥檚 why we believe Script Sense will have an impact from day one.鈥

Script Sense automates manual data entry and non-clinical tasks, potentially saving more than 50 per cent of administrative pharmacy labour hours, improving patient care and releasing capacity in the primary healthcare system.

Saini, a registered pharmacist, met Erasmuson when they were both MBA students at UC. Script Sense was established in February 2022 and the team secured substantial seed funding early in 2023 from investors following an industry demonstration. 鈥淲e are immensely grateful to our earliest investors who thoroughly believed in the Script Sense vision and the ability of our team to deliver the product to market,鈥 Saini says.

鈥淚鈥檝e been in the pharmacy industry for 15 years, and I鈥檝e managed a number of community pharmacies, so I have a grass-roots level understanding of the industry, while Kieran has run multiple businesses. He had previously worked with Rijul (Gupta), who has machine learning expertise.鈥

Saini says UC鈥檚 MBA course was instrumental in the development of Script Sense. 鈥淲e gained an invaluable toolkit of critical thinking business tools from the MBA programme itself, as well as some fantastic networking opportunities through student and alumni meet-up events and business school professors.

He says the Script Sense team is excited about 2024. 鈥淲e鈥檝e won, we鈥檙e releasing our product, and we鈥檙e hoping to move into the Australian market towards the end of the year. It feels full of possibilities.鈥

SDG 3 Sustainable Development Goal (SDG) 3 - Good health and wellbeing.

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