Medical marijuana app set to officially launch January 1 as new industry set to skyrocket.
With almost 7 billion dollars in sales annually, the burgeoning marijuana industry in America is set to see an increase in both participation and profits. The biggest driver of this growth — with around 5 billion of the market share — is medical marijuana, which expanded to four states in the nation’s most recent election including Florida, Arkansas, Montana, and North Dakota. With the introduction of medical cannabis into new markets, new dispensaries are set to engage in the heavy cost of a start-up medical business, which includes considerable expenses on employment, technology, and licensure.
LoudCloud, a tech company based in Southern California, seeks to streamline a crucial aspect of the medical marijuana purchasing process in both existing and new markets. Through an app that allows patients to store their medical information on a cloud server, LoudCloud is trying to put an end to the unwanted – and usually unseen – costs of patient verification for emerging businesses. Developed by three Ivy League graduates, LoudCloud’s first product is an app that provides a simple verification process for both dispensaries and patients. Currently, medical marijuana dispensaries across the country have the cumbersome burden of reviewing patient information documents for every single interaction with a patient. Even if a patient is a longtime customer of a dispensary, they are still required to present proper documentation for the dispensary to review.
These interactions average about fifteen minutes in length and cause lines that discourage new business and turn away patients. The app was born out of the drudgery of the dispensary life for its founder and CEO, Rob Gillett. Working out of a popular dispensary in Compton, California, Gillett saw how the lines and misspent time cut into his profit margins. “The whole idea came out of what I thought was an unnecessary burden for dispensary workers like myself but most importantly the patients,” Gillett said, “We had patients who would lose documents and we’d have to turn them away. Turning away someone not only meant a loss in income but more pain for someone with leukemia or aids.”
Through a three-step, HIPAA-compliant and confidential process, LoudCloud’s newest app would make that process more efficient — eliminating the lines and wasted time. Patients can conveniently and securely upload documents from home onto the LoudCloud server, which allows them to purchase medical marijuana from any of the LoudCloud verified dispensaries provided to them on a map. Dispensaries are able to upload new patient information on the LoudCloud server themselves, allowing for new customers to become regular customers without having to haul documentation back to their dispensary. This process also relieves dispensaries of the operation costs of storing information on their own servers.
Finally, dispensaries who turn a blind-eye to the documentation review process are subject to being shut down by the state, and that impetus on patient and dispensary safety is at the core of LoudCloud’s latest venture. By removing the barriers to entry for the patient, dispensaries and patients have more access to each other.
The product is set to launch alongside the activation of new state marijuana laws on January 1st, 2017. To contact Rob Gillett, email email@example.com.