Why Should Physicians Dispense Medicine Now?

Managed Care

Physicians are struggling with finding ways to increase earnings since many of their patients are participating in a managed care plan such as a PPO or HMO.  Prescription non-compliance or formulary compliance can cost the Physician a lot of money when prescribing too many of the wrong drugs (the ones the insurance companies don't want to be prescribed) to their patients.  Some insurance companies actually will send a bill to the doctor for writing too many of the "wrong" kinds of prescriptions.

Dispensing medicine to the patient actually reduces this problem dramatically since the claim is never turned in to the insurance company.

More Income / No Extra Effort

Too good to be true?  Not really.  Think about it.  Physicians prescribe medication for their patients every single day but the majority of them do not get paid for it.  They write the script or call one in to the pharmacy.  Only the pharmacy and the pharmaceutical reps financially benefit.  We plan on changing that...with your help.

In less than one minute, a physician or qualified staff member can dispense the medication.  For their effort, the average profit to the practice will be approximately $8.00 to $10.00 per prescription for cash and carry.  The average physician sees one-hundred (100) patients per week.  On average a physician will write one (1) prescription per patient.  This represents a potential annual profit of $50,000.00 or more each year!  With the average physician earning approximately $130,000.00 per year, that is a huge pay raise!

If the patient has a prescription card, we suggest that the physician accept the co-payment on the card (typically $15.00 for generic).  That way, it doesn't cost anymore for the patient  and the doctor earns a profit of $8.00 to $10.00 per prescription.  Physicians that handle workers compensation patients can earn literally hundreds of thousands of dollars per year dispensing medicine.

A successful dispensing solution primarily uses generic drugs.  Each year hundreds of well known medications are going generic saving patients and earning physicians a lot of money.  Ironically, some physicians refuse to write generic drugs only to see the pharmacist "sell" the patient on the idea to save money.  Little does the patient know that the pharmacist earns a lot more money on the "cheaper" drug.  Insurance companies often will have a policy that if the generic equivalent is available, that is what will be given to the patient at the pharmacy.

The Formulary - Key To A Successful Dispensing System

Not all physicians dispense the same types of medication.  Depending upon the type of practice will determine the kind of drugs the physician will offer to their patients.  The grouping of drugs offered by a physician is called a formulary.  Developing and fine-tuning a physician's formulary is key to a successful dispensing solution.  Some physicians have tried dispensing in the past and were disappointed with the results.  They simply bought too many of the wrong kinds of drugs.

The most important part of your job and perhaps the hardest, is not getting physicians interested in making an extra $50,000.00 per year, but pinning down the physician to develop a formulary.  It does take time and and time is very precious to physicians during working hours.  We have all of the tools you will need to make this as easy as possible including specific formularies for the different types of practices as well as the top 250 most prescribed name brand drugs and its generic equivalent.  Merely have the physician circle their favorites on a simple form and you are that much closer to an order.

It is always better to order fewer drugs and less quantity the first go around and build from there.  The use of generic drugs is key to the financial success of dispensing.

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