Philip Rielly continues to watch as big-box drugstores gobble up his competition. No worries, he’s not concerned.
Rielly’s not concerned because he’s focusing on the one thing those larger companies are forgetting: developing customer and community relations centered on service.
Since the 2004 founding of BioRx, a health care company that gives infusions to 500 to 600 patients per month, Rielly’s dedication to the customer has been propelling its growth.
The company’s customer strategy is based on what Rielly calls a three-legged-stool approach, which makes BioRx different from competitors. While similar companies emphasize the insurance payer, the physicians and the patients separately, BioRx takes a balanced method by supporting all three stakeholders’ concerns in a coordinated process.
Also, the company reaches out to its patients, mainly children, by participating in events for the hemophilia community.
That business model is also proving successful on the growth side of the business. BioRx’s commitment to patients and creating high-level customer attraction makes the company a top choice for manufacturers looking to award exclusive distribution rights. This allows BioRx to handle new products and grow through its strategic delivery alliances.
Rielly’s approach to growth allows the company to grow naturally rather than aggressively. The growth is as fast as the customers allow and it avoids expansion problems when it comes to facing larger competitors.
Rielly’s first measure of success is customer satisfaction. BioRx’s degree of achievement can simply be seen through its customer retention rates. While more established competitors are showing a 48 percent patient retention rate, BioRx’s has reached 93 percent.
How to reach: BioRx, (866) 442-4679 or www.biorx.net