The COVID-19 pandemic has had widespread effects across the healthcare industry. Affecting everything from patient care and drug shortages to financial pressures and expanding regulatory guidelines, COVID-19 is estimated to cause American hospitals and healthcare organizations to lose an average of $50.7 billion per month, according to the AHA.
One of the hardest–hit areas is independent pharmacies. The NCPA highlighted their struggle in a recent survey, indicating that 88% of community pharmacy owners are looking to apply for COVID-19 federal aid, such as provisions from the CARES Act. Additionally, two-thirds (66%) of the 511 pharmacy owners that took part in the survey shared that they were experiencing negative cash flow issues.
To help solve their financial hardships, more and more pharmacies are turning to Rapid Credit programs to receive credit fast in the wake of the pandemic. Rapid Credit programs offer the fastest reverse distribution credits available on expired pharmaceuticals. With a Rapid Credit program, pharmacies can improve their cash flow through:
- Quick credit on returned drugs
- Greater visibility and predictability on returns
- Lower risk of decreasing product return value caused by changes in manufacturer return policies
Pharma Logistics offers the best Rapid Credit program available for pharmacies and other healthcare organizations, allowing you to receive cash for expired pharmaceutical returns in as little as 14 days rather than having to wait for months. We also guarantee accurate, predictive calculations of your drug’s Expected Return Value (ERV) to ensure your pharmacy receives the credit it deserves. Our Rapid Credit program works with both our onsite and box and ship return services.
With other pharmaceutical reverse distribution services taking as long as 12 months or more to get you the credit that you need, Pharma Logistics’ Rapid Credit program is your best option to improve your cash flow today and safeguard your business against the financial strains of the pandemic. Find out how much money you could be putting back into your pharmacy with our Rapid Credit ROI Calculator.