Pharma: Discover the #1 Way to Increase Profitability
??Courtney Harring ??
I am a private practice owner who serves only our nations military - 500k healthcare earner
As a biller in the healthcare space, my role is to meticulously break down cost, spending and profit margins — down to what a medical practice or healthcare startup is making per hour, and provide a comparative analysis to what they should be making.
Most of my clients are shocked by the preliminary audit.
The majority of founders, CEO’s, physicians and pharmacy owners in healthcare are so busy attending to patient care, B2B relationships, compliance and internal management, that they don’t have the time or in-house expertise to keep score of financial analytics on a quarterly basis.
Pharmacies Need to Work Smarter, Not Harder
One niche within healthcare that I find consistently lacks an efficiency system to measure profitability is independent pharma.
The harsh reality is that times have changed and profitability measurement is essential as pharmacy owners face rising drug prices and lessening reimbursements.
These factors are making it harder and harder for independent pharmacy owners to thrive.
With ever rising drug prices it is imperative for; independent pharmacies to have processes in place to shop and compare drug prices.
Negotiating with a primary wholesaler takes time, a proven track record of sales and a strong relationship — which is why I urge pharmacy owners to take advantage of web-based platforms that will help them save money by cutting costs on their secondary and tertiary drugs.
One of the fastest growing RX marketplaces that I’ve come across is Visrex.
It’s a free platform — without contract or fees — that allows pharmacies to access 30,000+ NDC’s from several wholesalers, shops and compare drug prices at below market price.
It’s a win-win and a resource I recommend to the independent pharmacies that I partner with.
The Power of Process Implementation
The time to leverage free or cost-effective resources to cut costs on drug orders is now. One of Visrex’ pharmacies saved over $41,736.00 with one drug order over 12 months.
If your goal is to increase your annual net profit by over 100,000 in 2019 — as the pharmacy owner and decision maker — commit to implementing cost-saving processes that will prove those desired results.
Without introducing and committing to new processes, it’s impossible that increases in annual profit will ensue.
The Time is Now
Leverage the premiere resource available designed to serve independent pharmacy owners.
To find out how you can start saving on drug prices today, reach out to the co-founders of Visrex, Hassan Zreik or Ali Zreik on LinkedIn.