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Newsletter-August 2019

Aug 6th, 2019

 

August 2019 Newsletter

From the CEO – Serialization (Rerun from July)

A lot of communication is starting to circulate about DSCSA requirements related to serialized inventory, track-and-trace, and its impact on pharmacy.  A little background….. starting November 27 2018, drug manufacturers were required by law to add a new product identifier (serial number) to the label of an item packaged on that date and forward. Drugs in the supply chain packaged by the manufacturer BEFORE November 27 2018 are considered “Grandfathered” and not subject to the serialization requirement. Beginning November 27, 2019, wholesalers are required by law to only purchase serialized items from the manufacturer, unless it is documented by the manufacturer as “Grandfathered”.  

As grandfathered product works its way down the supply chain, purchases from your wholesaler could be a mix of serialized and grandfathered product. As a best practice, inspect all deliveries from your wholesaler for a serial number on the packaging. If a serial number does not exist, make sure the wholesaler provides documentation validating it as “Grandfathered” product.  This information should be included in the Transaction History, Transaction Information, and Transaction Statement (3T’s) provided by your wholesaler. 

How does this impact using MatchRX? Buying and selling for a specific patient need will continue as before. Both serialized and grandfathered product can be transacted on MatchRX. Over time, your inventory will slowly transition from grandfathered to serialized product. In the coming months, we will modify MatchRX to capture the serial number when applicable to a sellers posting. Per the DSCSA, beginning November 27, 2020 dispensers must capture and record serial numbers on all purchases unless the item qualifies as “Grandfathered”. As always, we will keep our members informed of any developments pertaining to the DSCSA and its impact on your pharmacy.

We are passionate about your business, and will continue to educate, innovate, and offer new services to help grow your profits and improve your cash flow & patient services. We value your membership, and encourage you to make MatchRX an everyday part of your pharmacy operations. 

John Kello, CEO

New Features/Functionality Coming With MatchRX 3.0

Scan and post with our new Mobile App

Posting an item just got easier using your mobile device. Simply download the free MatchRX app from the Android or Apple app store. Login and use your camera to scan the item barcode. The app will automatically upload all of the item information from Medispan. Enter the lot number, expiration date, quantity, and price. Post items while walking your isles. Don’t forget to place a MRX sticker on the container to easily identify it as a MatchRX posting.

Pharmacy News

posted on 07.14.2019

Every day you use a system that’s hiding profit right under your nose. Often relegated to simply processing transactions, the pharmacy point-of-sale (POS) system houses all kinds of information about your products and your customers that can be harnessed to benefit the bottom line.

“There are multiple ways that pharmacies can use their point-of-sale system data to generate sales,” said Brad Jones, CEO of Retail Management Solutions (RMS), an industry leader in pharmacy POS technology for retail and outpatient pharmacies. “Most, unfortunately, do it the wrong way. Because they don’t ever use their data.” (…read more)

posted on 06.17.2019

In 2018, Hamacher Resource Group (HRG) evaluated a whopping 2,587 new products to determine which were most suitable for independent pharmacies. The result of the company’s rigorous review process is a surefire list of top-performing products independent pharmacies can’t afford to miss out on.

“These are items that we believe are going to do well in the near future across all the different categories,” said Tara Kaifesh, a category analyst at HRG.

Items that made the list survived a fierce evaluation: Of 2,587 items reviewed, a mere 208 health, beauty, and wellness items were awarded a Star Rating. (…read more)

posted on 08.01.2019

The Trump administration on Wednesday reported that it is taking steps to make it easier to import less expensive prescription drugs from other countries, particularly Canada. The proposal would permit pilot programs developed by states, pharmacies, or drug distributors that seek to safely import prescription medications from Canada. FDA also plans to advise manufacturers on how they can import high-priced drugs like insulin that are sold more cheaply in other countries. (…read more)

Helpful Hints

Tip 1: Postings. Postings. Postings.

Sellers – how many scripts do you have to fill to recover the money lost when a drug expires on your shelf? Expired drugs equate to lost profits. Post your overstock, short dated, and odd package sizes to MatchRX and sell them to a fellow independent that needs it to fill a script. Posting is fast and easy.

Here are a few tips to help manage your postings:

  • Use the complimentary MatchRX stickers to track what you’ve posted. Order more here.
  • Assign a tech to help track all your sales made in the marketplace.
  • Post multiple items at a time. When a Buyer adds one of your items to the cart, the marketplace will automatically display the rest of your open postings to help the buyer identify additional items and save on shipping.

We’re here to help. If you have any questions about posting, buying, shipping, MatchMoney, or need to train a staff member of your pharmacy, call us at 877-590-0808.

Tip 2: Did you know you can request additional FedEx insurance?

Congratulations, you just sold an expensive item. If you want to increase the insured value of the shipment before it leaves your pharmacy, contact our customer service team to assist. All shipments processed through MatchRX are automatically insured by FedEx for up to $100.

A MatchRX representative will process additional FedEx insurance for your shipment and provide you with a new label and tracking number. Remember, it’s important to understand how to package your item to help prevent damage while in transit. Our team will review proper shipping practices with you at anytime. Don’t hesitate to contact us at 877-590-0808 or email customerservice@matchrx.com.

Tip 3: Small shipping stations are very helpful.

It’s always a good idea to keep sturdy boxes on hand for shipments to other pharmacies. Having a small shipping area for MatchRX sales ensures packages will be shipped in a timely fashion and arrive unharmed through it’s journey to the buyer. Keep in mind that your small box is being loaded next to large heavy boxes in the FedEx truck. Protect your investment. Remember, the Seller retains ownership and the financial responsibility of the item until the item is delivered and inspected by the Buyer. Orders must be boxed in conformance with drug manufacturer storage and shipping requirements and FedEx general packaging guidelines. Please, do NOT ship items in an envelope.

Did you know?

MatchRX offers free FedEx Express boxes to all our members. Simply contact customer service at 877-590-0808 or email customerservice@matchrx.com. Need additional information regarding shipping? Visit our Shipping Center page.

Need assistance? Our team is happy to help.

Contact us at 877-590-0808

email: customerservice@matchrx.com

Need more MRX stickers to quickly identify posted items? They’re free, click here to request more.

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