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Newsletter – September 2018

Sep 8th, 2018

 

September 2018 Newsletter

From the CEO

What members are saying about MatchRX…

Last month we asked our members to submit a testimonial about how MatchRX has helped their pharmacy and/or patients. The response was overwhelming and humbling to say the least. Many of you submitted stories about how easy it was to post and sell medications you no longer needed, improving cash flow and inventory management. Other members spoke of being able to purchase for a specific patient at a discounted price turning a negative fill into a positive fill. Financial savings, positive cash flow, and improved operational efficiencies are three things every independent pharmacy needs in these challenging times. We are proud to offer a service that provides all three.

What struck us the most were testimonials from members about sourcing hard to find medications through MatchRX that prevented 1) a patient from going to a chain pharmacy, 2) kept another patient from experiencing an extended hospital stay, and 3) actually saved a life. For example:

“MatchRX has helped both our pharmacy and numerous patients. Our pharmacy benefited many times by not having to buy a full bottle of an expensive medication that we rarely dispense, and many patients were able to get a drug that had been in short supply, but available on MatchRX! We also were able to find drugs at a lower cost which turned our insurance negative into a positive!! One case in particular was a patient who needed Trokendi which was on back-order from the supplier. We were able to find it on MatchRX and our patient was very grateful!” Hayat Pharmacy 5.

Additional testimonials can be viewed here.

Connecting independents across the country and working together to serve their patient population is one of the many benefits that comes with your MatchRX membership. I encourage you to make MatchRX part of your everyday operations. Your pharmacy will benefit, a fellow independent will benefit, and most of all your patient will benefit.

Thank you for your continued membership. 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 later this year.

Multi-Seller Cart

When shopping the marketplace, buyers can add items from multiple sellers to a single cart session. Each sellers other items will be displayed allowing you to select additional items and save on shipping. Upon checkout, the cart will split into multiple orders allowing you to select a separate shipping method for each order. Multiple sellers in the same cart will save you time when shopping the marketplace. The multi-seller cart will be available in both MatchRX and MatchSquare.

Member Rating

MatchRX Seller Rating is being replaced with Member Rating. Member Rating will be calculated based on both buying and selling activity, adherence to order confirmation policies, and management of open postings to reduce order revisions and cancellations. Your Member Rating will display in the marketplace and on your new Member Dashboard. Keeping open postings up to date and confirming orders within two business days will ensure a high Member Rating.

WINNERS of $250 in MatchMoney! See who won the testimonial contest!

Pharmacy News

posted on 07.16.2018

For many small business owners and managers, stress is a natural part of life.

After all, your job includes several difficult, high-level jobs in one. Entrepreneur. Manager. Accountant. Pharmacist. And on and on.

It’s no wonder many pharmacy owners suffer from burnout.

In a world where stressors seem never-ending, entrepreneurs and business owners try to buck up and power through them. And to even pretend it isn’t there.

(…read more)

posted on 08.28.2018

They’re hard to explain. They’re impossible to predict. But ask an independent community pharmacist what keeps them up at night, and chances are direct and indirect remuneration (DIR) fees are at the top of the list. For years, community pharmacies have been screaming into the void about retroactive clawbacks from PBMs working with Medicare Part D plan sponsors. Now, it looks like the ears of the federal government—on the hunt for solutions to high drug prices—are perking up. (…read more)

posted on 08.27.2018

Recently the CDC a released a report that shows a fourfold increase in the diagnosis of opioid addiction among women who present to the hospital for childbirth. The study, published in the CDC’s Morbidity and Mortality Weekly Publication, was conducted over a span of 15 years and concluded in 2014 to characterize trends for health care costs and utilization. An earlier report, also from the CDC, showed similar statistics surrounding the occurrence of neonatal abstinence syndrome (NAS) between 1999 and 2013. (…read more)

Helpful Hints

Tip 1: 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 2: 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:

  • 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 daily.
  • 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.

Tip 3: MatchRX experts are at your disposal.

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.

Here are a few tips:

  • Use the QuickSearch feature to quickly search by NDC or drug name / strength.
  • Click on the drug image to view additional item details and the sellers other items.
  • When posting an item, place the mouse in the NDC field and scan the package bar code with a standard bar code scanner.
  • Quickly check the marketplace comparison chart to be competitive when setting the price.
  • Add a note to let buyers know of any package or label markings.
  • Set text message alerts on your Profile page for quick notification of a sale or delivery.

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

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