Cash Flow & Profit – Adherence Packaging

How to Grow Your Cash

Like most small business owners, independent pharmacy owners  understand that cash is king. In today’s environment, with shrinking reimbursements, DIR fees and clawbacks, growing your profit is critical.

In the pharmacy, it’s pretty simple. You grow revenue and profit by adding patients and monthly script volume. By adding new adherence patients, which tend to have complex drug regimens, you are adding high-volume, high-value customers. Your existing patients, who take advantage of adherence packaging, will increase their refills from 7.4 per year, to an average of 12 refills per year, according to data from the American Pharmacists Association. Patients on med sync stay sync’d, because adherence packaging trains them to be adherent, and you’re adjusting their medication each and every month.

Just 10 new patients per month

Adding just 10 new adherence patients per month, you could add $100 in new profit, per patient, per month, or about $1,200 in new profit, per patient, each year.

We partner with you to make it easier

Now, you may be saying to yourself, “All that sounds great, but it’s easier said than done.” That’s true. However, based on the experience of RxSafe customers, it’s achievable. In fact, many of them have added 15 or even 20 new adherence patients per month.

How did they do it? They followed a plan. And RxSafe has developed a “done-for-you” marketing plan, based on our customers’ practical experience, to help you market your new adherence program. In effect, we become your marketing partner.

In fact, you only need 30 new adherence patients to cover the monthly lease payment on a RapidPakRx. Just 30 patients, averaging 10 scripts per month and $10 in profit per script, and you’re at cash-flow break-even.

Technology pays for itself

After your adherence packaging system is paying for itself, the profits really begin to add up. With 100 patients, you’re looking at $120,000 in new profit per year. And we have to emphasize, this is new profits, not just revenue.

Is this pie-in-the-sky thinking? Ask our customer, Ben McNabb. In 2016, starting from scratch, Ben was able to get to 200 adherence patients in his first year, and doubled that to 400 adherence patients by the end of his second year. So we believe 100 new patients in your first year is very doable. (By the way, for his achievements, Ben received the Outstanding Adherence Practitioner award from the NPCA in 2018.)

And we show you how, every step of the way. Our comprehensive PakMyMeds kickstart program will get your adherence marketing up and running.

PakMyMeds: marketing done for you

In April, RxSafe launched PakMyMeds Network, which will take advantage of GeoMarketing to drive new adherence patients to your store.

With PakMyMeds Network, you’ll receive a free listing on PakMyMeds.com, where patients will be able find adherence packaging services close to home. To help get you started, RxSafe will also pay for your first 90 days of targeted advertising, at no cost to you. PakMyMeds Network is available, for a limited time, for all RapidPakRx customers.

Ready to get started? Just complete the form above, or call 877-797-2332 to speak with an adherence automation expert.