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Newsletter – October 2018

Oct 10th, 2018

 

October 2018 Newsletter

From the CEO

The 4th quarter is upon us, which typically leads to 2019 planning and strategy meetings for our member pharmacies. Budgets are finalized, marketing strategies created, cash flow projections analyzed, and staffing requirements discussed. The key to success for all these topics is positive cash flow, which means successfully managing a lean inventory without sacrificing patient services.  

As a member of MatchRX, the start of the 4th quarter presents the perfect time to post and sell overstock, short dated, and odd quantities of medications before you close the books on December 31. Turning this inventory into cash will help fund new marketing efforts, a new product line, a year-end bonus, or even a much deserved holiday party for the staff.  Don’t wait until December.  Post these items in October and realize the positive cash flow before the end of the year. Most items typically sell within three weeks of being posted to the marketplace, with many selling within a few days or even hours. With over 5,000 member pharmacies buying and selling overstock each day, everyone wins. Improve your cash flow and at the same time help a fellow independent satisfy a patient need at a price that will make both of you smile.

If you are pressed for time, let us train a staff member how to quickly post an item for sale, which takes on average 40 seconds. Call one of our team members and within five minutes we’ll have you posting like an expert. The MatchRX team can be reached Monday-Friday 9:00am-6:00pm at 877-590-0808 or customerservice@matchrx.com. You will always speak to a live person. By taking ten minutes to post items, you can quickly generate hundreds, if not thousands of dollars for your pharmacy. 

Thank you for your continued membership. Remember to make MatchRX a part of your everyday pharmacy operations. As always, we remain passionate about community pharmacy and look forward to helping you and your business thrive!

John Kello, CEO

Features/functionality coming with MatchRX and MatchSquare.

MatchRX My Postings Page

Managing your open postings will be easier and faster when using the new search, sort, and vacation mode features on the My Postings page. Sort your postings in various ways, including drug name, NDC, and last posting date. Search your open postings by drug name or NDC to quickly find the item you need to review. Our quick edit feature allows you to change the lot number, expiration date, quantity, or price without having to go into full edit mode. Going on a vacation? Simply select our new “Vacation Mode”, enter the date range, and your open postings will be temporarily removed from the marketplace until you return.

Unique User Login

Sharing login passwords are a thing of the past. MatchRX and MatchSquare users will have unique login names and passwords allowing your staff to work independently of each other when posting, confirming, buying, etc. A user will login one time to access both MatchRX and MatchSquare and can easily switch between platforms with a click of the mouse. All user profiles will be managed by the Primary user, providing your pharmacy with improved password management and user access.

Pharmacy News

posted on 10.03.2018

NCPA is participating in the first #WomenPharmacistDay (WPD), which will be observed on Oct. 12, 2018. #WomenPharmacistDay was founded by the Pharmacist Moms Group. October was chosen for this special recognition because it also serves as National Pharmacist Month. The 12th day of the month was selected in honor of the legendary first female pharmacist in the United States, Elizabeth Gooking Greenleaf, who had 12 children and is an inspiring role model for thousands of women who dream of becoming a pharmacist. (…read more)

posted on 09.19.2018

For as long as people have been prescribed medications, people have failed to take them as directed.

The perennial problem of non-adherence has plagued pharmacy patients since the days of the apothecary. One study shows that nearly three out of four Americans don’t always take their medication as directed. Non-adherence has helped drive up total health care spending year after year, with more than $300 billion lost annually because of non-adherence. (…read more)

posted on 10.03.2018

The Senate on Wednesday overwhelmingly passed a bipartisan bill aimed at fighting the opioid crisis, sending the measure to President Trump’s desk.

The Upper Chamber passed the bill by a vote of 98-1, capping months of work on the measure and gaining a bipartisan achievement in the midst of a fiercely partisan battle over the nomination of Judge Brett Kavanaugh to the Supreme Court. (…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 for large orders?    

You just sold an expensive item. Congratulations! All shipments processed through MatchRX are automatically insured by FedEx for up to $100. If you want to increase the insured value of the shipment before it leaves your pharmacy, contact our customer service team to assist. 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: Confirm your sales orders on time. It helps your cash flow and bottom line.    

Sellers, confirming orders ON TIME is not only important to your pharmacys cash flow and bottom line, it is also important to your Buyers and their patients. Buyers are ordering to fill a specific patient script and are anxious to receive the item. The sooner you confirm and ship, the sooner it arrives and funds are transferred into your account.

Here are some tips regarding confirming orders:

  • Sellers receive an email when an item is purchased. Check your email at least twice a day, once in the morning and in the afternoon.
  • Don’t have the time? Assign someone in your pharmacy to check for sales throughout the day.
  • Login and click on the “Messages” tab. All email communications can be viewed.
  • Check the Manage tab. Any open orders will be populated for you to quickly confirm. All orders in transit can be viewed as well, click on the Manage tab > Pending Sales.

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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