The “iPharmacy” Roman has launched 4 new items to add to their growing list of men’s health products.
According to techcrunch.com, the relatively new online-based men’s health pharmacy has increased their product list in the efforts to offer more to keep their customers loyal as communicated by Roman’s CEO.
“It’s unlikely that you’ll buy razors from Bonobos or pants from Dollar Shave Club. But with a doctor, it’s actually the exact opposite” Roman CEO Zachariah Reitano tells me. “As a customer, you’re frustrated if they send you somewhere else.” And so what started as a single product startup is blossoming into a powerful product mix that can keep users loyal.
Roman starts with a telemedicine doctor’s visit where patients can talk about their health troubles without the embarrassment of going to their general practitioner. When appropriate, the doc can then prescribe medications customers can then instantly buy through Roman.
“If you have something that’s truly consuming your day-to-day, it makes it really hard or nearly impossible to think about the long-term. If you’re 30 pounds overweight and experiencing erectile dysfunction, [it’s the latter symptom] that’s dominating your head space” Reitano explains. The doctor might focus on the underlying health issue, but most humans aren’t so logical and want the urgent issue fixed first. Reitano’s theory is that if it can treat someone’s erectile dysfunction or hair loss first, they’ll have the resolve to tackle bigger lifelong health challenges. “We’re hoping to work on this so you can take a deep breath and get the monkey off your back,” the CEO tells me.
The 4 products released a couple of months ago as well as their signature Erectile Dysfunction product (ED) can all be purchased under Roman’s monthly subscription. They also offer treatments for enlarged prostate and smoking cessation.
Erectile Dysfunction – $31/month – Viagra, Sildenafil (generic Viagra), Cialis, or Tadalafil (generic Cialis)
Premature Ejaculation – $19/month – Sertraline, Tadalafil (generic Cialis), Sildenafil (generic Viagra)
Hair Loss – $17/month – Finasteride
Genital Herpes – $14/month Valacyclovir (generic Valtrex)
Cold Sores / Oral Herpes – $14/month Valacyclovir (generic Valtrex)
It seems as though the product expansion is important for more than just one reason. Customer loyalty is at the heart of it but then there’s the competition from the other male iPharmacies.
There’s a war brewing to become the cloud pharmacy for men’s health. Roman, which launched last year offering erectile dysfunctional medication and recently added a ‘quit smoking’ kit, is taking on $97 million-funded Hims for the hair loss market. Today, Roman launched four new products it hopes to cross-sell to users through a unified telemedicine subscription and pill delivery app. It now sells meds for premature ejaculation, oral herpes, genital herpes, and hair loss at what’s often a deep discount versus your local drug store. And for those who are too far gone, it’s launching a “Bald Is Beautiful, Too” microsite for finding the best razors, lotions, and head shaving tips.
With Roman, Hims, Amazon acquisition PillPack, and more, there’s a powerful trend in direct-to-consumer medication emerging. Reitano sees it as the outcome of five intersecting facts.
- The evolution of telemedicine regulation allowing physicians to have a national presence by seeing patients online
- Physicians are being reimbursed less by Medicare, Medicaid, and private insurers for the same activity, pushing them towards telemedicine
- A patent cliff is making many medications suddenly affordable under generic names.
- Insurance deductibles are increasing, turning patients into consumers
- Technology is making it easier and cheaper to start medical startups