With well over 30 million people in the U.S. who live with diabetes, the amount of money spent to monitor this disease can really put a dent in your wallet over time. Fortunately, there are companies like Teststripz, which can provide you with some of the important equipment you need at significant discounts.
Teststripz has been in business since 2008, but has evolved significantly since then, according to company founder and CEO Chad Langley.
Chad Langley
“I started the business after realizing that artificial scarcity was causing shortages for people who rely on the supplies we provide to manage their disease. My dad has had Type 1 diabetes since he was 12. Without the proper monitoring equipment, like test strips and lancets, it’s impossible to manage to disease correctly. This could lead to hypoglycemia (extremely low blood sugar levels) or even insulin shock for Type 1 Diabetics. Those with Type 2 Diabetes can suffer from Hyperglycemia (extremely high blood sugar levels), which causes serious organ damage, and lead to insulin dependence. That’s why we provide an alternative market place for people to access supplies at affordable rates.”
Teststripz.com is a one-of-a-kind reverse marketplace for people with diabetes. Reverse marketplaces evolved with the rise of the Internet and ecommerce, due to a shift in the balance of power over supply-and-demand in favor of consumers, Langley explained. In other words, there is an existing, consistent demand for diabetes supplies. The supply is greater still, if you know where to look.
“We’re more of an alternative marketplace, but reverse marketplace is accurate as well. Essentially, people resell extra products (in this case test strips and lancets) that would otherwise go to waste. The re We act as an intermediary to purchase the supplies allowing the sellers to use the money towards other costs (perhaps other medical supplies like insulin),” he said.
Teststripz then processes the supplies to ensure they’re still safe to use, and resells them at hugely discounted rates. The company buys primarily from individuals across the country, but also in bulk as well – mostly from small pharmacies and wholesalers. They then sell directly to both private and commercial consumers.
Chris Langley
“We currently use Amazon and have used eBay in the past, but we’re in the process of building an online store where customers can buy directly from our website,” said Langley. “This should be up and running by summer. Customers will have a huge array of options, from short-dated expirations to slightly damaged boxes (minor tears and the like) – nothing that would potentially impact the accuracy of the strips. If we receive strips and believe they’ve been tampered with or stored incorrectly, we do not accept them. We also do not accept Medicare or Medicaid boxes, as this is illegal, per the FDA.”
The company mission in a nutshell, Langley said, is to provide access to affordable supplies. As an example, the company will sell a box of test strips for less than half the price of retail pharmacies, he said. If the boxes are slightly damaged or short-dated, it’s closer to a quarter of the price.
“We purchase test strips and lancets, although we’re expanding to meters and other supplies in the future. Lancets are used to pierce the skin and the strips are used (with a meter) to measure the glucose levels in the blood,” Langley said. “We currently buy the major brands (One Touch, Freestyle lite, Bayer, Accu-Chek), but we’re expanding to mid-level brands like Prodigy, Embrace and True Metrix as well.” He added that they do not buy insulin, as it requires extreme temperature control. If stored in heat or cold for too long, it’s not nearly as effective and could cause serious health complications.
“We pride ourselves on reliability, customer service, accuracy, and the best rates. We have an A+ rating with the BBB and extremely high reviews on Google and Trust Pilot,” Langley said.
To find out more about buying or selling with Teststripz, visit teststripz.com.
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