Clawbacks / DIR Fee's: The nerve of Insurance companies and PBMs charging back money that was previously paid out to the pharmacy. These fees are a calculated percentage of the ingredient-cost-paid in the claim and the amounts typically vary by plan and pharmacy. PBMs use one or more metrics to help measure a pharmacies performance and provide a minimum and maximum range for a possible fee that can apply to each claim. Depending upon how well your pharmacy scores, your fee will fall somewhere within the minimum and maximum range - really specific isn't it? Many pharmacy owners are left wondering what they can do to manage these fees and properly assess their claims. Datascan's pharmacy management software, WinPharm, builds in several utilities to help you not only estimate the clawbacks, but also ensure your pharmacy is performing at a 5 star level in order to minimize them. Many pharmacy software companies advertise similar features but WinPharm features are proven to improve patient adherence, boost star ratings, and increase profit margins, making Datascan the best pharmacy software on the market!
Since Datascan opened it's doors in 1981 we have been true pioneers in the pharmacy software industry, leading our customers into the future. From computerizing independent pharmacies in the 80s, to building a Windows software system back in 2000, to automating day to day tasks, we've grown by leaps and bounds and continued to stay ahead of the competition with real technology that truly helps our clients grow (not smoke and mirrors features). As the landscape of independent pharmacy continues to grow and change at a rapid rate it is crucial that you adapt and evolve with the industry. Questions arise everyday from owners like "how can I increase my reimbursements?" or "how can we keep up?" and even "how do we survive?" And the answer is very simple; capitalize on the products and services you're already using and paying for everyday!
According to a study by Cardinal Health, only 6 out of every 100 customers enter a chain pharmacy and leave without buying something from the front end. However, 56 out of every 100 leave an independent without buying something from the front end; statistics that are truly astonishing!
It comes as no surprise that the world of independent pharmacy is rapidly changing. It takes a lot more than just filling prescriptions to not only be profitable, but to compete with the chains on every corner, and combat the PBMs. Because you cannot have a successful independent pharmacy by just filling prescriptions the old way, you have two choices: 1; hire more people to combat medication adherence and all of the additional work thrown on you to keep your business alive, or 2; use the technology built into your pharmacy management software to alleviate the manual labor that is holding you back and wasting your time. Use the time that the technology frees up to step away from "behind the screen" and look at every aspect of your business and how you can improve upon them.Bottom line: If you're not utilizing the technology your system builds in you could be doing a disservice to your pharmacy and patients.
In today's complex world of healthcare, the local pharmacy plays a vital role in our community's well-being. Customers look to their neighborhood pharmacies as a trusted source of healthcare information and rely on them for assistance with complex medication management. With chronic diseases on the rise and the expansion of health insurance, the frequency of customer interaction has significantly increased. Pharmacy inventories have also evolved to include much more than just medicinal drugs. They are now the go-to resource for everyday essentials.
Back in the late 1970ís and early 80's quite a few pharmacy software companies were born. The challenge back then was to get pharmacy's to pull away from hand and type written claims and move to computerization ---a task that proved to be quite difficult! As the years progressed more companies entered the market, which was a good thing for the end users, because as we create competition in any industry, it motivates. It ignites that fight or flight response and if you want to survive, you must compete. Compete not just on pricing, but on service, and most importantly, the technology that evolves at a very rapid pace.
Believe it or not, every year we are seeing more and more community pharmacies open up. Some are new at owning an independent pharmacy, and some already own other locations and are expanding. When we see these numbers first hand, the future for Independent Pharmacy doesn't seem as gloomy as some within the industry feel. One of the great things being the owner of any business, including an Independent Pharmacy, is the ability to choose the vendor partners that can make or break you're overall success and bottom line. The two most important vendor partners for an independent pharmacy are your wholesalers, and your pharmacy software company. The question is, where do you start your research? For a wholesaler, you want at least 2 that service your area in a quick and timely fashion. Some may even offer multiple deliveries a day - then its just a matter of negotiating the best pricing.
Another year in the books, and another year of declines - but why? How are you supposed to survive at this rate - and at what point do you throw in the towel? According to Drug Channels, the average pharmacy owner saw their salary decline by 20% in 2017. Your gross margins are declining --- DIR fees continue to plague your business - so how the HELL are you supposed to believe you have a future in this industry?
Customer reviews play an important part in the decision making process for potential buyers.Ensuring youíre reading quality, valid, and unbiased reviews can make the difference between a poor buying decision vs. a smart one.
A personal, one on one demonstration of Datascan's pharmacy software shows how Datascan can help you save financial and human resources, increases efficiency and improve your bottom line. While the competition is herding potential software buyers in like sheep into an online demo with 15 other people, we pride ourselves on the fact that even before we earn your business, we treat you like a person, not a number.
Year after year we meet so many owners that are simply unhappy with the product or level of service they are getting from their existing pharmacy management software vendor - but they refuse to make a change! So they struggle on, losing out on opportunities to increase profits in their pharmacies, they miss out on new technology and perhaps don't perform well with regards to star ratings, and worst of all, they are over staffed by at least 1-2 people because of all of the manual processes they have in their daily workflow.
Independent pharmacies share a certain bond. For them, each customer is an individual (not an account number...), who trusts their pharmacist for professionalism, courtesy and quality. Independent pharmacists take the time to talk to their customers, alleviate their concerns and assure they understand their prescriptions and are aware of other health and wellness considerations. This bond between independent pharmacists and their clients is a win-win relationship that can last for decades.