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Newsletter-March 2019

Mar 11th, 2019


March 2019 Newsletter

From the CEO

Direct and Indirect Remuneration (DIR) fees retroactively taken back from a pharmacy months later rather than deducted from claims on a real-time basis makes it extremely difficult for independent pharmacists to operate their small business. The “Improving Transparency and Accuracy in Medicare Part D Drug Spending Act,” H.R. 803 introduced by Reps. Peter Welch (D-Vt.) and Morgan Griffith (R-Va.) would prohibit Medicare Part D plan sponsors/PBMs from retroactively reducing payment on clean claims submitted by pharmacies, which would, in turn:

  • Boost transparency in drug pricing.
  • Give seniors reduced cost-sharing and greater budget predictability.
  • Preserve access to independent community pharmacies.
  • Address the concerns of CMS and MedPAC.
  • Will not lead to unaffordable Medicate Part D Premiums.
  • Will not ban “pay-for-performance” programs.

MatchRX members know that DIR reform is a “must have” in order for independent pharmacies to efficiently operate their small business and maintain adequate patient access to medications. We support DIR reform at both the federal and state level.  Contact your local congressional representatives and tell your story about how these unfair DIR fees are impacting your business and ultimately your patient population.  Your voice will have an impact. Additional information on H.R.803 can be found here.

As always, we appreciate your membership and continued use of the MatchRX marketplace. We encourage you to make MatchRX an everyday part of your pharmacy operations.  The savings realized will help offset retroactive DIR fees while at the same time help a fellow independent pharmacy. It truly is a win-win.

Regards,

John Kello, CEO

Features/Functionality coming with MatchRX 3.0

Mobile App Print Later Feature

MatchRX sellers that use the mobile app to confirm orders when away from the pharmacy can easily print the packing list and shipping label at a later time when they return to the pharmacy.

Percentage Discount Displayed in the Marketplace

When the WAC or AAWP price provided by MediSpan changes after the date posted to the marketplace, the percentage discount displayed in the marketplace will update, providing buyers and sellers with current discount rates. The price set by the seller will not change. If a discount falls below the 10% minimum, the item will be temporarily removed from the marketplace and displayed in the sellers My Postings page as an action item to adjust.

Pharmacy News

posted on 03.07.2019

Getting new patients into your independent community pharmacy is an important part of running your business. But getting more business from your current satisfied patients is a solid, easier, and more reliable source of revenue.

Reducing your patient defection rate—when they leave to go to a competitor—by just 5 percent can increase your profitability by 25 to 125 percent, according to the book “Leading on the Edge of Chaos” by Emmett C. Murphy and Mark A. Murphy.

Here are 10 strategies to get current patients to reach into their pockets (for things they need) and to keep their cash at your pharmacy. (…read more)

posted on 03.04.2019

Eli Lilly and Company has announced plans to sell Insulin Lispro, an authorized generic version of its brand-name Humalog insulin drug.

Compared to Humalog, Insulin Lispro prices will reduce out-of-pocket costs by more than 50%, with one 3mL vial listed at $137.35, and a five-pack of KwikPens at $265.20. The drug will be sold through Lilly subsidiary ImClone systems.

In a press release, Lilly states that is already working with supply chain partners to make the product available at pharmacies as quickly as possible.

“There are numerous ideas, including the rebate reform proposal from HHS. For people with diabetes, a lower-priced insulin can serve as a bridge that addresses gaps in the system until a more sustainable model is achieved,” says David A. Ricks, Lilly’s chairman and chief executive officer. (…read more)

posted on 03.05.2019

Perhaps it was inevitable, but Siri on Apple devices is slowly getting more concerned about your health and well-being. An update announced March 1st from Apple detailed how Siri was being integrated with health apps to let users know more about their health. Examples that were identified were Snoww, Qardio, HomeCourt, and Dexcom.

The basic premise has been the use of Siri for ‘shortcuts’ that allow a better user experience and interaction with their mobile devices. In an era that is quickly seeing a vast uptake of voice commands over touch, Siri, Cortana, Alexa, and other voice systems are making significant inroads into peoples lives. This may include a user’s car to play music or make a phone call, a Google Home to change the room temperature or set the oven, or now, the ability to ask one’s smartphone about their health. (…read more)

Helpful Hints

Tip 1: Buyers, check your orders once delivered. Why it’s important.

Once a Buyer receives an order, verify all items are received and in good condition. Buyers have two (2) business days to confirm the receipt of an order and notify MatchRX of any discrepancies. If the order is not confirmed by the buyer, MatchRX will automatically confirm the order on the third business day and mark the order as closed, releasing a full credit to the Seller.

Here are some tips:

  1. Designate a member of your team to check and verify all MatchRX orders within two (2) business days of receipt (including the current business day).
  2. When an item is delivered, check the shipping label to verify the sender is from MatchRX.
  3. Immediately open any packages marked as refrigerated / frozen.
  4. Open the box and verify items with the signed packing checklist included in the box.
  5. Problems, call our stellar customer service team at 877-590-0808.

Tip 2: Need to train someone in your pharmacy on using MatchRX?

Let us help you! Contact your account representative at 877-590-0808 to train a new or existing employee to use the MatchRX marketplace. In less than 20 minutes, we’ll show your employee how to post an item, manage open postings, confirm orders, and buy from the marketplace. Using MatchRX every day will improve your cash flow and profit per script. Need a refresher? Call us. We’re happy to quickly review any area of the marketplace.

Tip 3: Do you have shipping supplies readily available?

Is your pharmacy prepared to ship items for express orders? Frozen/Refrigerated items?

Did you know….

  • MatchRX will send your pharmacy free FedEx Express boxes to keep on hand for items needing express shipping.
  • MatchRX supplies frozen/refrigerated stickers to add to the exterior of boxes, allowing your buyers to quickly identify items requiring additional attention. Order more here.
  • Keep smaller boxes and shipping supplies on hand in your pharmacy for a smooth selling experience. Remember to add cotton to the top of pill bottles, add tissue paper or bubble wrap to the inside of your box to prevent damage when shipped.

Need additional assistance, contact us at 877-590-0808 or email customerservice@matchrx.com. Our team is happy to answer any questions you may have.

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

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