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PrimeRx Now Offers Real-Time Drug Pricing within Pharmacy Dispensing Workflow
Introduction
Could your pharmacy benefit from saving $10,000, $20,000, or even $80,000 per month? Of course it could, and those amounts are actual savings reported by community pharmacies that rely on the PrimeRx MARKET online marketplace for competitive purchases of medications and supplies. Going forward, PrimeRx MARKET is fully integrated with the PrimeRx pharmacy management system, which means pharmacists can manage the purchasing process without having to interrupt the dispensing workflow.
This is a big deal. According to David Kirkus, Vice President of MARKET, PrimeRx. the integration marks “the first time anyone has ever brought a competitive shopping marketplace into workflow.” Kirkus, speaking in a recent podcast explained that “until now, pharmacists and pharmacy technicians had to leave the pharmacy management system and jump to another other site or piece of technology to check pricing or availability.”
Now, the process is seamless and represents what he calls “truly a groundbreaking change.”
PrimeRx CEO Ketan Mehta notes the perfect timing of the PrimeRx MARKET integration, given the many different tasks and responsibilities that compete for pharmacists’ time and resources. “Look at the environment in which today’s pharmacists operate,” he explained in the PrimeRx podcast. “As pharmacists go about their work filling prescriptions, several things have to happen. They need insight into their inventory, including whether the price of a drug has fluctuated. They need to know if a new order needs to be placed, and if their minimum has been met.
“The pharmacist is essentially glued into the pharmacy management system all day long,” he continued. “And as they make these important decisions, they are forced to jump in and out of the system and access different screens. So an already stressful environment becomes more stressful.”
Stress levels were also exacerbated by the manual processes required to access online drug marketplaces. While marketplaces have helped pharmacists reduce costs and facilitate the drug purchasing process, they were only accessible by leaving the pharmacy management system and accessing another screen.
“Pharmacists had to do this hundreds of times throughout the course of the day,” Mehta explained. The process was tedious, he noted, and reached the point where many pharmacies opted to not even bother searching for lower-cost drug prices, and instead took an “easier path” of making all purchases from a single supplier.
Mehta calls the integration of PrimeRx MARKET into the pharmacy workflow “a beautiful thing,” with important benefits that include:
Cost Savings. Pharmacies can save tens of thousands of dollars each month in inventory costs by comparing supplier pricing and choosing the option that works best. According to PrimeRx MARKET’s Kirkus, a recent analysis found that PrimeRx MARKET identified pricing that was, on average, 45% lower than list prices offered by primary wholesalers. “Who doesn’t want to save 45%, up front and immediately,” he asked, noting that savings are not tied to rebates, but reflect actual out-of-pocket costs.
Time Savings. The typical pharmacy can save more than 520 hours of staff time annually by relying on PrimeRx MARKET. No longer do pharmacists and pharmacy technicians have to spend time individually looking up drug pricing. Now the process occurs in real-time, as part of the dispensing process.
Supplier Diversification. PrimeRx MARKET scans the inventories of more than 40 wholesalers and suppliers to locate in-stock supplies and identify pricing. This invariably exposes pharmacies to new buying options and provides opportunities to expand supplier networks. “Pharmacies will notice that the best pricing is not always going to come from their primary wholesaler,” Kirkus noted. Instead, pharmacies can choose to buy from multiple suppliers, based on pricing and product availability.
Broad Drug Access. Access to multiple suppliers also helps pharmacies locate hard to find medications. A pharmacist simply types in the name of the desired drug and PrimeRx MARKET kicks into action, conducting a real-time scan of suppliers’ inventories and identifying all with the medication in stock.
Streamlined Ordering. Owners of multiple pharmacies often find that buying decisions become somewhat disjointed, with each location placing its own orders, based on patient needs. But by bringing the purchasing function into the workflow, the process becomes more strategic, with improved visibility into both order histories and inventory needs.
How Does it Work? A Simple Solution for a Complicated Pharmacy Need
Pharmacists will be pleasantly surprised at how easy it is to access the drug pricing and procurement solution. “It’s super simple,” explains Kirkus. “From the moment the pharmacist initiates work on a prescription, the MARKET goes to work.” A typical purchasing process will include the following steps:
- While still within the dispensing workflow, PrimeRx MARKET automatically identifies supplier options and price comparisons for each drug identified on the pharmacist’s screen. The system also identifies alternate NDCs that may be available at a lower price.
- The pharmacist clicks on a preferred buying option, which adds the selection to the pharmacy’s shopping cart. Multiple drugs and products can be added to the cart, coming from multiple suppliers.
- Transactions can be completed at any time, usually as the pharmacy’s purchasing cutoff time approaches.
That’s it. A seamless, highly user-friendly process for sourcing drugs at significantly lower costs. A process that previously required hours of staff time now occurs in real time.
Celebrate the PrimeRx MARKET Integration – with Pharmacy Cost Savings!
The PrimeRx MARKET/PrimeRx software integration is such a win for pharmacies, that PrimeRx has decided to celebrate. And what better way to celebrate than by offering pharmacies a chance to save money?
From now until the end of the year, pharmacies that use PrimeRx MARKET to make a purchase can earn credit that can be applied to monthly software maintenance fees. Following are a few specifics:
- Place at least one order per month using the new MARKET integration.
- For every $2,500 in non-brand purchases (generics, OTCs, and other eligible items), you’ll get a $25 credit toward your maintenance fee. Stack up savings and you can get your PrimeRx software free through the end of the year!
- Save more on inventory with MARKET’s low prices and let PrimeRx pay for itself. It’s a win-win.
Total credit amount is capped at your total software maintenance fee. Offer valid through December 31, 2025.
The PrimeRx Ecosystem – Five Solutions, One Platform
The PrimeRx MARKET integration is possible because of the advanced functionality offered through the PrimeRx portfolio of solutions. This portfolio, referred as “the PrimeRx Ecosystem,” consists of five specific “pillars,” each of which addresses specific pharmacy needs.
On their own, each operating system automates pharmacy workflows, provides critical solutions, and helps pharmacies operate more efficiently. But together, the units comprise a powerful “PrimeRx Ecosystem,” in which all parts operate in tandem, allowing unmatched levels of synchronization and functionality. Here’s a brief overview of each operating system:
PrimeRx Enterprise
This is the iconic PrimeRx operating system that has served the needs of the independent pharmacy community for more than 30 years. PrimeRx serves as the “nucleus” of the busy pharmacy, seamlessly managing core workflows including dispensing, refills, billing, patient records, and inventory. In addition, PrimeRx offers extensive capabilities for report generation, patient communication, point-of-sale management, and compliance management.
The PrimeRx Enterprise system can be found in thousands of pharmacies nationwide, and is widely praised for its user-friendly format, scope of functionality, continual upgrades, and customization capabilities.
PrimeRx CLOUD
The next step in pharmacy technology. PrimeRx Cloud addresses pharmacists’ needs for flexibility and options. Pharmacists can access the system from any internet-enabled device with a browser installed. PrimeRx Cloud offers the same workflow capabilities as PrimeRx Enterprise, but with the additional flexibility inherent to a cloud-based solution.
MyPrimeRx.com
The myPrimeRx.com platform enables high levels of pharmacy-patient communication. With myPrimeRx.com, patients are kept informed with real-time SMS delivery updates, notifications about scheduled refills, and personalized reminders about dosage requirements or immunization reminders. The system also enables two-way communication, which facilitates compliance with auto-refill requirements, and helps pharmacies promote medication adherence initiatives.
PrimeRx POS
PrimeRx POS is a cloud-based, highly intuitive solution that allows pharmacies to manage point-of-sale systems from any device with internet access. The tablet-based design allows pharmacy staff to move freely within the pharmacy and offer services including curbside pickup and on-demand delivery. This flexibility allows pharmacies to meet customer expectations and supports a modern, mobile pharmacy experience.
The system goes beyond traditional POS functionality with a unique “suggestive selling” feature, that helps boost sales of OTC products. The suggestive selling function proactively recommends OTC products that complement a patient’s medication purchases.
PrimeRx MARKET
PrimeRx MARKET is the industry’s leading online prescription drug marketplace with direct access to more than 40 wholesalers and suppliers. A pharmacist can quickly conduct price comparisons for each medication, eliminating the previous practice of having to manually look up each supplier’s pricing. Instead, pharmacists can have real-time access to suppliers with in-stock supplies of required medications and supplies, along with a list of pricing options. Orders for multiple medications can be placed with several providers, all within PrimeRx MARKET.
Until now, PrimeRx MARKET existed adjacent to PrimeRx, requiring pharmacists to leave a workflow and access a separate screen. But going forward, the systems are fully integrated. This means pharmacists can manage the inventory and procurement processes from any point within the dispensing workflow.
For pharmacists accustomed to manually searching for drug pricing and availability, the PrimeRx MARKET solution provides critically needed relief. As PrimeRx MARKET’s David Kirkus, who is also a licensed pharmacist points out, “No pharmacist goes to school to learn how to make purchasing decisions.” Instead, faced with having to make hundreds and hundreds of decisions each day, pharmacists want to “focus on the decisions that truly impact patient health.”
Now, thanks to the unprecedented benefits available through PrimeRx MARKET, pharmacies can recapture a significant amount of time, while also seeing improvement in their bottom lines. It’s a big deal that can truly benefit all pharmacies.