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Newsletter-May 2019

May 15th, 2019

 

May 2019 Newsletter

From the CEO

Last month I wrote about DSCSA changes for dispensers that go into effect relating to a new product identifier that must be on every item purchased from your wholesaler starting Nov. 27 2020. After Nov. 27 2019, wholesalers can only accept pharmaceutical products from any trading partner (including saleable returns from pharmacies), that have a DSCSA-compliant product identifier, unless subject to a waiver, exception, or exemption under the law, or it meets FDA guidance regarding grandfathered product. Furthermore, after this date, wholesalers will be required to verify with the manufacturer the DSCSA-compliant product identifier before redistributing a saleable return.

You are probably asking, what does this mean for my pharmacy regarding the ability to return in-dated product that does not have the new product identifier? Today, returning saleable product to your wholesaler requires you to provide tracing documentation (Transaction History, Transaction Information, and Transaction Statement) upon the return. This can be difficult and time consuming if you or your wholesaler does not maintain quick access to the necessary documentation that came when the item was originally purchased. Wholesalers need this documentation in order to resell it to another pharmacy in accordance with DSCSA requirements. Given this requirement, it is important to work with your wholesalers to understand any changes in return policies that could impact your pharmacy.

As a member of MatchRX, you have an alternative to returning it to your wholesaler. You can easily sell your in-dated non-controlled medications for up to 90% of current WAC to another independent pharmacy that has a specific patient need, rather than being subject to wholesaler return policies and documentation requirements.  Doing so will help a fellow independent, their patient, and your pharmacy’s cash flow.

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

Features/Functionality coming with MatchRX 3.0

Unique Username and Password for all Pharmacy Contacts

With the launch of MatchRX 3.0 comes the conversion for all users to move from a shared login and password to unique username and password. The first time you log into MatchRX 3.0, you will be directed through a simple one-time conversion process that will help you create a unique username and password. After logging in, the user will be able to shop, post, and perform order management activities for the pharmacy like before. What is different is each user will have their own cart session, allowing buyers to shop the marketplace independently. Primary contacts will also be able to manage contact records and access without having to worry about spreading the news about a shared password change.

Pharmacy News

posted on 04.29.2019

WASHINGTON — Reps. Doug Collins (R-Ga.), Ranking Member of the House Judiciary Committee, and Jerrold Nadler (D-N.Y.), Chairman of the House Judiciary Committee, today introduced the Prescription Pricing for the People Act of 2019. The legislation requires the Federal Trade Commission (FTC) to study pharmacy benefits managers (PBMs) and how their actions are affecting patients and local pharmacies. “PBMs have an important role to play in America’s health care system, but too often they operate in the shadows, manipulating drug prices, steering patients and engaging in other anticompetitive behaviors that increase costs and force out community pharmacies,” said Collins. (…read more)

posted on 04.24.2019

Specialty pharmacies — particularly in healthcare settings — continue their rapid growth. More than 900 unique pharmacy locations received specialty pharmacy accreditation by the end of 2018, a 25% increase from 2017, according to a DCI report.

The 911 specialty pharmacies operating in 2018 is more than double the number of specialty pharmacy locations in 2015, a new Drug Channels Institute (DCI) report shows. DCI released the report ahead of Asembia’s Specialty Pharmacy Summit, April 29-May 2 in Las Vegas, NV.

Pharmacy locations owned by healthcare providers — hospitals, health systems, physician practices, and providers’ group purchasing organizations — account for more than a quarter of all accredited specialty pharmacy locations, DCI finds. (…read more)

posted on 03.15.2019

As margins behind the counter continue to decline, independent pharmacies are looking to remedy their profit pains. And pharmacy retail experts are prescribing a simple front-end treatment: cross merchandising.

“Cross merchandising is a tactic that can increase sales, if pharmacies do it right and are consistent and committed to it,” said Tom Boyer, director of national accounts for Hamacher Resource Group (HRG), a firm that focuses on improving results across the retail supply chain.

Cross merchandising means positioning complementary items from different categories together to encourage add-on sales. Classic examples… (…read more)

Helpful Hints

Tip 1: Tips when shipping items in warm weather.

As the weather begins to warm up, we need to take additional steps to keeping refrigerated items cold during summer months. 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.
  • Add content to a thick plastic bag/zip-lock to help with condensation from the cold pack.
  • Add cushion or use a double-wall box to prevent holes or dents from possible condensation from cold packs.
  • Keep the refrigerated box in your refrigerator/freezer until FedEx arrives.

If you need additional assistance, don’t hesitate to contact us at 877-590-0808.

Tip 2: 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.

Tip 3: 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.

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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