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Newsletter – February 2016

Mar 4th, 2016

 

February 2016

Pharmacy News

posted on 01.44.2016

Which Drugs are Going Off-Patent in 2016?

This year will be a doozy in terms of drugs going off-patent – undoubtedly a point of contention that will be discussed at length at next week’s J.P. Morgan Healthcare conference. (…read more)

posted on 12.09.2015

Senators Question Pricing of Generic Drugs

Lawmakers want to know why companies have been sharply raising the price of generic drugs, which once were seen as bargains.
 (…read more)

posted on 01.10.2016

Hawaii Pharmacist Spells out Rules for Travelers

Your patient exclaims, “We’re going to Hawaii! I cant wait to get some sun, walk the beach, and have some drinks by the pool. Let’s see – I’ll be there six days, so I’ll need six pills of my atenolol and simvastatin, and 12 pills of my Eliquis.” Your response? “Not so fast.” (…read more)

       

Over 50,000 Items

Averaging 36% off WAC!

With 2015 now history, members have been cleaning off their shelves to make room for 2016 inventory. This resulted in a record number of postings during January, which means lots of great deals to be had for buyers in the marketplace. A few tips to let the marketplace work for you when searching for items to purchase:

1. Wishlist: Let the marketplace work for you by using the Wishlist feature. When you add an item to your Wishlist, the system will automatically notify you when it is posted for sale by another member. One email will be sent in the morning.  Hot items go quickly, so check your email every morning.  

2. Search: MatchRX has many search options to quickly find what you need. Our popular “Quick Search” allows members to look-up an NDC number or drug name.  Need to narrow your search? No problem!  From the Buy tab search for previously purchased items, items on your Wishlist, or click Additional Filters to search by package type, expiration date, WAC discount, brands, or generics.

3. Click on the image: Did you know when you click on the item image additional information will display about the item and seller?  View Item Details, Generic Equivalents, Compare Prices, or View Seller’s Other Items.

Helpful Hints

Tip 1: Tracking items on your shelf that are posted to the marketplace is simple.  Ask us about MRX removable stickers.

All new members receive a MatchRX welcome package to help get started using the marketplace. In the package is a pad of small removable MRX stickers to help track postings in the marketplace. Simply peel and stick to your pill bottle or box. When the bottle sells, remove the sticker without leaving any residue on the bottle.  If you dispense from a bottle that has a MRX sticker, make sure you log in and modify the quantity for that posting or remove the posting if the item is no longer available.  This will keep members from buying items no longer available, and protect your seller rating in the marketplace. 

The magnetic back of the pad allows members to easily place the sticker pad in a visible place like a refrigerator or metal shelf.  Need more stickers, email us at CustomerService@matchrx.com to request more.

Tip 2: Reducing the Seller fee to 6%!

If you have 50 or more postings at the time of the sale, the Seller fee is automatically reduced to 6%.  Check your shelves for slow moving items, short dated items, and partial packs.  Post more, earn more, and pay less!

Tip 3: Year End Reports can be printed or exported.

Did you know it’s easy to run a report for completed orders? From the Manage Tab, click on “Statements”. Enter the date range you’d like to view and click “Search”.  A PDF will automatically generate displaying all completed sales, purchases and a summary of savings. There’s also an option to export the summary to an excel spreadsheet for review. Click on the blue XLS icon above the PDF to export.

Why is this helpful? Members like to keep records of sales and purchases for inventory management purposes. It’s also a great summary to give your accountant and a helpful tool to review and balance the books.

Tip : Editing open postings is now easier than ever.  Look for the blue icon in the marketplace.

We’ve made editing your posted item in the marketplace easier to update. When you click on the “Edit my Posting” blue icon, you’ll be directed to the posting page. Change the quantity and/or price and save.  Your posting will now display at the top of the marketplace.

Why is this important? Buyers are purchasing items from the marketplace to fill a script.  Accurate postings will help you maintain a strong seller rating and improve patient services. 

 

Happy 6th Anniversary!

This month MatchRX will celebrate our 6th anniversary working with our stellar community of 4,000+ independent pharmacies. What a great reason to celebrate February!

We want to hear your MatchRX success story.

Write to us, Testimonials@matchrx.com. 

Share your success story and receive a gift. Members who share their success stories with us will have a chance to win a $50.00 gift basket of goodies for your pharmacy. One winner per month!

From the CEO

Happy Anniversary MatchRX!

We are celebrating our 6th birthday this month! It is really hard for my partner and I to believe.  Where did the time go?  The journey from launch to present day has been full of adventures, great stories, challenges, and victories.  We have come a long way in a short period of time.  I remember our first NCPA trade show and answering the same question over and over – “What does MatchRX do?”  Some thought we were a dating site like Match.com for pharmacists!  After a few minutes explaining the site, pharmacists recognized the value and membership began.  In the early years, our marketplace sixe was a fraction of what it is today.  Through word-of-mouth combined with a relentless marketing strategy and a passion for excellent customer service, we are proud to say we have over 4,000 members responsible for creating a marketplace of over 50,000 postings.  New pharmacies register every day, excited to be able to turn overstock into cash and at the same time help another independent pharmacist.  It truly is a win for the seller, a win for the buyer, and a win for the patient.  

2016 will be an important year for MatchRX and its members.  Now that we are into the second year of the DSCSA, we plan to expand into additional states.  With new states come new members, which equates to more postings, resulting in greater savings opportunities and improved patient services for buyers.  A lot is happening at MatchRX and I am excited to share it with you as we move forward together this year.

Most importantly, MatchRX would not exist without you, the independent pharmacist.  We understand the business challenges you face and remain passionate to help in any way we can.  Remember, we evolved from the mind of an independent pharmacist who still owns a pharmacy to this day.

As always, we look forward to helping you and your business thrive!  Thank you for your continued membership.

John Kello, CEO

MatchRX |  info@matchrx.com  |  877-590-0808