Navigating Tariff Uncertainty, Protecting Data, Reducing Abandonment, & Boosting OTC with PrimeRx
How PrimeRx helps pharmacies navigate trade turbulence, secure sensitive data, significantly cut patient medication costs to reduce abandonment, and optimize OTC revenue streams. | Sponsored
The following is an overview of content provided by PrimeRx. Listen to the latest PrimeRx Podcast, visit the PrimeRx Blog, and dig into the case study to learn more…
PODCAST | Tariffs, Trade, and Turbulence: Navigating the Impact on Pharmacy
Listen to David Kirkus, Pharm.D., VP of PrimeRx MARKET, as he breaks down one of the most urgent challenges facing today’s pharmacies: pharmaceutical tariffs. With trade tensions rising, new tariffs on imported APIs and finished drugs — especially from China and India — are disrupting pricing, supply chains, and patient access.
Managing Your Pharmacy in the Digital Age – Tips for Securing Data
The digital age brings convenience but also significant data security risks for pharmacies. Healthcare has seen a record number of breaches, with cyberattacks posing an existential threat to independent pharmacies due to high costs and potential service disruptions. Many small businesses never recover from such disasters.
Use only supported Windows releases and related software.
Implement multifactor authentication practices (MFA).
Conduct regular system backups.
Consider a cloud-based solution.
Leverage commercial anti-malware software and keep your subscription current.
Implement payment card best practices.
Secure your Wi-Fi network.
Limit employee access to critical data.
And learn about the robust tools built into PrimeRx CLOUD to securely store encrypted patient data off-site and allow only authorized users access through role-based controls. Key features include reliable cloud storage via Amazon EC2, customizable backup schedules, seamless data recovery, flexible storage, and an MMS Firewall. Additionally, their Remote Backup Solution (RBS) performs daily cloud backups.
PrimeRx Helps Manage Patient Medication Costs – which Reduces Prescription Abandonment
High medication costs are a leading cause of prescription abandonment, where patients don't fill their vital prescriptions. In this blog post from PrimeRx, learn about powerful tools pharmacies can use to combat this critical issue.
For example, PrimeRx offers Real-Time Prescription Benefit integration with Surescripts, pharmacists can instantly access patient-specific drug coverage and pricing, including more affordable alternatives and prior authorization details. This enables proactive discussions with patients about cost-effective options.
PrimeRx also supports Medication Synchronization for convenient refills, improving adherence. Furthermore, eVoucher services apply manufacturer co-pay discounts at the point of sale, while denial conversion capabilities help turn rejected claims into paid ones. Automated SMS/Email reminders enhance adherence. By addressing both affordability and accessibility, PrimeRx empowers pharmacies to reduce abandonment and improve patient outcomes.
OTC Products Offer Pharmacies a Revenue Bright Spot – PrimeRx, PrimeRx POS, and PrimeRx MARKET Can Help
Independent pharmacies face financial pressures from declining reimbursement and rising drug costs. However, Over-the-Counter (OTC) product sales offer a significant revenue opportunity, already contributing around 10% of typical pharmacy income. Consumer demand for personal health products is surging, and more medications are shifting to OTC status.
In this blog post, read about how PrimeRx, PrimeRx POS, and PrimeRx MARKET empower pharmacies to capitalize on this trend. PrimeRx MARKET, an online platform, provides access to numerous OTC suppliers, allowing pharmacies to compare pricing and streamline ordering for cost-competitive products.
PrimeRx also integrates with Pointy to boost online visibility and offers "suggestive selling" features through its POS system to recommend complementary OTC items. Furthermore, PrimeRx assists with FSA/HSA benefit management and maintains detailed patient records, including OTC usage, enhancing patient care and preventing interactions.
CASE STUDY | From Pharmacy Volunteer to Pharmacy Owner: Priyank Patel Leverages PrimeRx for Success
Priyank Patel's journey to becoming a pharmacy owner exemplifies dedication to patient care. Having observed his father, a pharmacy technician, build strong patient relationships, Patel gained firsthand insight into the profession's evolving landscape.
Find out how Patel effectively navigates complex challenges like PBM dictates and reimbursement rates using PrimeRx. He leverages the comprehensive PrimeRx pharmacy technology system for end-to-end management.
Critical to Patel’s efforts, PrimeRx MARKET provides access to a vast network of drug wholesalers, enabling him to compare prices and secure competitive rates, a process he once managed manually.
Learn why Patel also utilizes PrimeRx for various efficiencies, including its Real-Time Prescription Benefit solution, which streamlines checking patient drug plans and identifying cost-effective alternatives.
Patel also relies on PrimeRx to manage immunizations, clinical services, and eCare plans, crucial for compliance.
Despite industry challenges, Patel remains optimistic, using PrimeRx to automate workflows and enhance patient care.
Read more on the these topics and get the latest at the PrimeRx Blog.
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