Pharmacy Chain Pricing Support
Industry
Retail Pharmacy
Problem
A pharmacy chain needed to revise their prescription pricing strategy as they implement a new pharmacy practice management system. In addition, the system needed to display the preferred generic drug manufacturers to pharmacy users in order to assure proper drug product selection to control and ensure uniformity across the chain.
PHSL Solutions
PHSI worked with the pharmacy administrator to develop pricing formulas that allowed the company to properly price their prescriptions and assure profitability. PHSI created files which included the necessary pricing information and proper references for preferred generic drug products. These files make it easier for pharmacists to select the most cost effective drug when substituting for the brand.
Results
The pharmacy chain was able to implement their new pharmacy management system on schedule and with up-to-date, accurate retail cash pricing and algorithms. The pharmacy chain’s administrative implementation work load was decreased.