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Newsletter-June 2019

Jun 13th, 2019

 

June 2019 Newsletter

From the CEO

This month we published a brief survey to our members asking how MatchRX has helped your pharmacy, patient, and/or you personally (time off, extra money, etc.). The response has been great!. So far we are hearing about financial savings, helping fellow independent pharmacies, finding difficult to locate medications for patients, and eliminating waste. To entice participation, we are giving away Yeti Tundra coolers to randomly chosen respondents on July 1. I personally love my Yeti and am sure you will too! Take a quick minute to complete the 2 question survey and you could be one of TEN lucky Yeti winners. Click on the Yeti banner below to enter by June 30th.

Member surveys like this are very helpful to our product development team. There is no better source of ideas and suggestions to improve the MatchRX marketplace. One suggestion we recently implemented was to add a new section to the bottom of the packing slip. As a best practice upon receipt of a shipment, a buyer should record the patient information on the packing slip to assist in substantiating patient need.

Remember, MatchRX was co-founded by an independent pharmacist. We are passionate about your business, and will continue to 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 with MatchRX 3.0

Mobile Apps are coming!

Access your MatchRX 3.0 marketplace from virtually anywhere with the MatchRX Mobile App for Android and iOS. Take advantage of what your MatchRX account has to offer while on the go: Quickly scan and post items to the marketplace while walking your aisles, shop the marketplace using the Quicksearch feature or scanning a bar code, enable push notifications for real-time buy and sell alerts, easily check the status of an order, and perform buyer and seller confirmations while outside of the pharmacy, all in the palm of your hand.

Pharmacy News

posted on 06.10.2019

WASHINGTON (June 10, 2019) — Action by the Trump Administration, Congress or both is needed now to provide relief from pharmacy direct and indirect remuneration (DIR) fees that inflate drug costs paid by patients and the government, and that force pharmacies to fill Medicare prescriptions often below cost. That was the message delivered today in a letter to President Donald Trump from diverse organizations representing every type of pharmacy and pharmacist.

“We write to voice our disappointment that the final rule Modernizing Part D and Medicare Advantage to Lower Drug Prices and Reduce Out-of-Pocket Expenses did not address onerous [DIR] fees that have increased 45,000% since 2010, with no savings passed onto beneficiaries. This number will continue to grow if these practices are not reformed,” the pharmacy community wrote to President Trump. (…read more)

posted on 06.01.2019

Do you have a customer loyalty program in your store? According to the Gartner Loyalty 2018 research, only 44% of retailers offer loyalty programs. I’m frequently asked about customer loyalty, so it seems like a good time to discuss why loyalty programs have become necessary and how to create a great program that gives you a competitive advantage.

Do I really need a loyalty program? I would argue yes! Volumes of research show the important role customer loyalty programs play in customer retention. Most of you compete every day with grocery and pharmacy chains, and almost all of them offer loyalty programs. The good news: There are still a lot of poorly run programs that don’t truly create loyalty. (…read more)

posted on 06.11.2019

Even with the FDA providing one additional year of grace period—over 18 months since the DSCSA (Drug Supply Chain Security Act) came into effect for manufacturers—many pharmaceutical companies suffer from Post-Serialization Depression (PSD) or, amazingly, have still not completed their implementation projects.

With respect to the former, unfortunately, PSD does not refer to the cognitive state of the internal project team. All too often, PSD symptoms manifest through losses in productivity of 5%, 10%, and even 30% due to the introduction of the serialization factor.

PSD factors

So, why are so many companies suffering from PSD? Isn’t serialization just another add-on automation regulation? Haven’t these companies overcome the same types challenging scenarios before? (…read more)

Helpful Hints

Tip 1: 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.

Tip 2: Tips when shipping items in warm weather.

As the weather begins to warm up, we need to take additional steps in keeping items cold during shipment. What items would this apply to? Any frozen, refrigerated, or gel capsules. Here are a few tips:

  • Ship all items in a water-resistant box.
  • Secure or wrap the item with a gel/cold pack. Verify cold packs will maintain temperature for the duration of the shipment.
  • Place the item in a thick plastic bag (i.e. zip-lock) to help with condensation from the cold pack.
  • Add packaging filler or use a double-wall box to prevent holes or dents from cold packs.
  • Keep the box in your refrigerator/freezer until FedEx arrives.

Tip 3: Postings. Postings. Postings.

Sellers, don’t loose money by allowing drugs to expire on your shelf. Run a utilization report from your pharmacy software system to help identify excess inventory and overstock. Many of our members run this report on a monthly/quarterly basis, and regularly post items for sale to MatchRX. Items that are priced correctly will typically sell within a few business days, turning stale inventory into cash. Use the complementary MatchRX stickers to clearly identify items that are posted to the marketplace. Click here to request more stickers.

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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