When looking at your business performance in relation to your reverse distributor, you should ask yourself is your business better off than it was before? To answer this question, you can compare your pharmacy’s business performance (with a reverse distributor) to three industry benchmarks: % Returnable vs Non-returnable Excessive Return Volume Pharmacy-Caused Non-returnable % Returnable/Non-returnable One …
KPIs of Business Performance with Your Reverse DistributorRead More
A pharmaceutical reverse distributor should be more than just a processor of drug returns. A good reverse distributor should be a partner to your pharmacy. They should provide data and insights about your pharmaceutical returns and inventory processes that help improve your bottom line. Three key performance indicators (KPIs) of a pharmaceutical reverse distributor include: Turn …
KPIs of Vendor Performance: Turn Time, Reconciliation Rate and Collection RateRead More
Reverse distribution is a dynamic industry which determines drug cost according to many rapidly-changing variables, each of which fluctuates according to price data, calculations and more. Prices are recalculated and modified at every link of the drug supply chain, making pricing a science. For example, WAC (Wholesale Acquisition Cost) and AWP (Average Wholesale Price), are …
According to a 2018 report from the HDA (Healthcare Distribution Alliance) Research Foundation (titled ‘The Role of Reverse Distribution), reverse distribution generates more than $13 billion annually in product values. This represents a major opportunity for pharmacy owners and directors to recoup significant ROI from recalled and returned products. To get their return credits, many pharmacies …
Benefits of Drug Take-Back Programs Drug Take-Back programs at pharmacies offer community members the opportunity to properly dispose of prescription drugs and over-the-counter medications. Disposal of these substances offer three key benefits: Helping to prevent prescription drug abuse Reducing risk of accidental poisoning Decreasing environmental hazards including water contamination due to medications Take-Back Programs Can Make a Difference …
To succeed, every pharmacy must optimize the two C’s of building a strong business: cash flow and compliance. With over 20 years of experience, Pharma Logistics has provided reverse distribution services to support pharmacy cash flow—while maintaining airtight legal and regulatory compliance. Learn how you can help improve your customer service with the Pharmacy Technician …
Many hospitals and pharmacies rely on an outside vendor to handle their reverse pharmaceutical distribution process to garner return credits. But how does that process really work? Pharma Logistics wants to improve visibility into that process by giving you the 5 things you need to know about the return credit process–and find out if you’re …
5 Things You Need to Know About the Return Credit ProcessRead More
Box and Ship or Onsite Pickup – which return service is best for your pharmacy? With the wide range of reverse distribution services available today, it can be challenging to determine which one is ideal for your pharmacy. Pharma Logistics offers two popular services that make the pharmaceutical returns process easier and more visible. Those …
What works best for you? Pharmacies have many choices for reverse pharmaceutical distribution. Often, it’s hard to understand the differences and weigh their value to your bottom line. Pharma Logistics offers both Box and Ship and Onsite services for pharmacies and hospitals across the country. For many pharmacies, these services help communities reduce pharmaceutical waste …
Sometimes, during the pharmaceutical returns process, a drug cannot be returned to the manufacturer for credit. There are many reasons why drugs may be classified as nonreturnable. The three largest issues include: the product’s condition, the timing of the product return relative to the expiration date, and whether the product was originally discounted or sold …
