YOUR TOP 5 PRESCRIPTIONS COULD BE GAME-CHANGERS Discover How Your Most Profitable Prescriptions Are Hiding in Plain Sight
You’re probably constantly battling slim margins and unpredictable reimbursements. But what if we told you that your most profitable prescriptions are hiding in plain sight? Instead of scrambling to fill more prescriptions at a loss, it’s time to zero in on those that bring in the highest profit per dispensing. KNOW YOUR TOP 5 MONEY- MAKERS. Your top five most profitable prescriptions aren’t just the drugs you fill most frequently. They’re the ones that generate the most profit per single dispensing. These are the prescriptions that put the most money back into your business, and once you identify them, you can double down on attracting more of those patients. We recently worked with a pharmacy owner who discovered that generic Accutane was one of her most profitable prescriptions. Once we identified this, we knew that we needed to craft a strategy to get more of these high-margin prescriptions through her door. Fortunately, Lisa was able to share her own journey into becoming the go-to pharmacy for Accutane prescriptions through her “Accutane Kits.” TURN YOUR MOST PROFITABLE SCRIPTS INTO STRATEGIC GROWTH. Once you know which prescriptions are bringing in the highest profits, the next
step is leveraging that knowledge to attract more of those scripts. It’s time to create a strategy that makes your pharmacy the go‑to destination for these prescriptions. For example, at Lisa’s pharmacy, she built a generic Accutane program designed explicitly for dermatologists. The key was to make it easy for dermatologists to send their Accutane patients to her pharmacy by:
•
Streamlining the prior authorization process
•
Offering patient counseling services to ensure compliance Creating educational materials for both doctors and patients Guaranteeing fast turnaround times for prescriptions
provide resources to make it easier for them to send their patients to your pharmacy.
•
2. Create specialty services: If applicable, you can offer quick prior authorization assistance or guarantee fast, reliable
•
And guess what? It worked. Before long, Lisa’s pharmacy was filling almost every Accutane script in her city. IDENTIFY YOUR MOST PROFITABLE PRESCRIPTIONS. If you don’t know your top five most profitable prescriptions, it’s time to dig into your pharmacy data. Look at the total profit per prescription and which prescriptions consistently bring in the highest dollar amount per fill. Your pharmacy management system should be able to generate these reports easily. If it can’t, you need a better system. CATER TO THE RIGHT PATIENTS AND PRESCRIBERS. Once you know your top five, the goal is simple: Attract more of those patients and build relationships with the prescribers who write them. Here’s how you do it: 1. Reach out to local prescribers: If you identify a high-profit prescription, find out which doctors prescribe it most often. Schedule meetings, drop off informational packets, or
service, so prescribers prefer sending patients your way. 3. Market directly to patients: Leverage social media, email marketing, and in-store promotions to encourage patients to transfer these prescriptions to you. START SMALL AND SCALE UP. If the idea of revamping your approach feels overwhelming, start with just your top five. It’s much easier to build targeted programs around five prescriptions than to try to cater to your top 20 all at once. Once you’ve successfully grown these areas, expand to your top 10, top 15, and beyond. Filling more prescriptions won’t save your pharmacy if you’re losing money on the wrong ones. Identify your most profitable prescriptions, create a plan to attract more of them, and watch your bottom line grow.
Are you ready to start maximizing profits? Run your report today and start building a strategy that actually makes you money.
561-379-7750 4
Made with FlippingBook Ebook Creator