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Basic marketing principles known as the “marketing mix” tell us that there are four controllable variables in marketing that can help determine success. The highly coveted “four P’s” include: Product, Place, Promotion, and Priceread more
It starts with ownership. Every stakeholder owns a large piece of adherence, but it frequently falls on the community pharmacy to make it happen. That said, there are ways for community pharmacies to help patients stick to therapy, the way it was prescribed. And you can do this by building adherence into your practice, starting now without costly technology and tool additions.read more
Are you a follower of Pareto’s Law? If not, it might be time to become one. Pareto’s Law, or more accurately, The Pareto Principle, tells us that 20 percent of our customers represent 80 percent of our sales. Also, that 20 percent of our efforts produces 80 percent of our results.read more
The push-pull debate between the U.S. Senate and various stakeholders in the pharmaceutical industry continues at a heated pace.read more
This bipartisan movement in the U.S. appears to be fueled by a growing trend that finds drug manufacturers burying pricing behind robust advertising campaigns and PBMs negotiating sweetheart rebate deals which rarely result in lower costs to you or your patients.read more
Groundbreaking Independent Pharmacy Group Purchasing Organization (GPO) is focused on leveling the competitive playing field among PBMs, wholesalers, health plans and manufacturers.read more
Direct and Indirect Remuneration (DIR) fees were created by the Center for Medicare and Medicaid Services (CMS) to keep tabs on events that could affect the overall cost of prescription medications for Medicare Part D plans and, ultimately, offset those costs. The end result of DIR Fees was to reduce wasteful expenses tied to Medicare Part D prescription costs and save patient’s money on their prescriptions.read more
The U.S. Administration has received a large share of the spotlight about global and national security policy proposals. Yet, a focus on health care cost containment — through the reduction of Medicare and Medicaid sponsor prescription drug prices for patients, while gaining some press attention, has remained largely in the mainstream background.read more
With the cost of medications rising, customers are now more willing to travel outside of their immediate neighborhoods to secure prescriptions and health related services at reduced costs.read more