Empowered Patient Podcast Small Pediatric Practices Overcome Challenges of Vaccine Management with Pedro Sanchez de Lozada Canid
Pedro Sanchez de Lozada, CEO of Canid, highlights the significant financial risks that pediatricians face in managing their vaccine inventory. There are administrative burdens associated with ordering, patient demand, tracking, reporting, and filing for insurance reimbursement. The Canid platform was designed to be a vaccine-as-a-service model, removing risk and administrative work from pediatric practices, allowing small and independent practices to achieve economies of scale, and freeing up more time to spend with patients and their parents.
Pedro explains, "When managing a vaccine program, the expectation is that the pediatrician will buy and maintain the stock in their office until a patient comes in and gets vaccinated. So, the refrigeration, the temperature logging, the stocking up, and the cost of the vaccine always fall as liability to the pediatrician. And what happens there is that you have a fairly small margin on these vaccines. Now I'm sure we're going to get into this, but when people say pediatricians make money on vaccines, they're usually cherry-picking."
"But in reality, as a pediatrician, you actually have to stock all the vaccines. And not all of them have decent margins. Some of them have negative margins. And so as a portfolio, you end up making a pretty thin margin, and then that doesn't even include all the different challenges you might have along the way. So let's take an example: a vaccine that expires or is dropped, and unfortunately needs to be wasted."
"So the way that we like to think about it is we want to make it so that the pediatrician can just give vaccines. That's all they need to think about. And what that means is, let's just imagine for a second, a refrigerator that automatically restocks itself, and you just take out the vaccines, you give it to a child, and you go on your merry way. That's obviously a little bit of an idealistic way of viewing things, but it's the experience that we want to accomplish."
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