How can you improve cashflow & compliance? Pharmacies are striving to be more operationally efficient so that their bottom line is healthier and that they gain financial stability in a more competitive world.
GRx understands and appreciates the challenges faced by pharmacists – increased competition, decreasing margins and high patient care standards. Here are three ways pharmaceutical returns can be another avenue to look at when it comes to saving money:
- Pharmaceutical returns are a potential asset.
You send product and if it is creditable, receive credit or a check from pharmaceutical manufacturers. Either way, it gives you extra money to be used towards any future business expenses that you didn’t have before.
- Pharmaceutical returns are a window into your operational efficiencies.
Are you over-purchasing? Are there drugs sitting on your pharmacy’s shelves that will never get used? If you answered yes to any of these questions, send the product to us to recoup some of your “cash” so it can be used for other purposes.
Helpful Hint: Always open new bottles that expire at the farthest date first so you can receive potential credits from vendors that don’t accept partials.
- Pharmaceutical returns are a way for you to be a leader or hero in your facility.
All pharmacies are continually looking for ways to save money and pharmaceutical returns can be another avenue to look at. For example, you can use your non-returnables report to see if there is an alternative you could purchase that does have a returns policy. This is just one of many ways we can help save you money.
If you’re not efficiently managing your expired pharmaceutical returns, you could be leaving money on the shelf.