Physicians are struggling with finding ways to increase their income with many patients on managed care plans such as PPOs or HMOs. Not following an insurance carrier’s formulary compliance can cost you a lot of money when prescribing too many of the “wrong drugs” (medications the insurance carriers don’t want you to prescribe) to your patients. Dispensing medication directly to your patient reduces this problem dramatically since the claim is never turned in to the insurance carrier. There are no risk pool worries with point of care dispensing.
More Income / No Extra Effort
Too good to be true? Not really. Think about it. You prescribe medication and hand out samples to your patients every single day without getting paid for it. You either write the script or call one in to the pharmacy. Only the pharmacy and the pharmaceutical reps financially benefit. We can help you change that.
In less than one minute, you or a qualified staff member can dispense the needed medication to your patient. For your effort, the average profit to your practice will be approximately $8.00 to $10.00 per medication dispensed. There are no insurance claims to file and you get paid directly by the patient. 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!
If the patient has a prescription card, we suggest that you accept the co-payment amount on the card (typically $15.00 today for generic medications) as payment in full. Keep in mind this would be a retail sale for you, and since your patients are accustomed to paying their copay amount for medicines, their copay amount will be the retail price and in no way will you be collecting a copay. There is NO insurance adjudication! This way, it doesn’t cost any more for the patient to purchase the medication directly from you and you will earn a profit of $8.00 to $10.00 per medication dispensed.
Physicians that handle workers compensation can earn literally earn hundreds of thousands of dollars per year dispensing medication. The MedX Sales Workers Compensation Program is not a retail cash and carry program as described above, so please see our special section on the MedX Sales Dispensing Program for workers compensation patients for details.
A successful point of care dispensing solution primarily focuses on the top 10 to 20 most commonly prescribed generic drugs for better profitability and the smallest number of drugs. Each year, many well known medications go generic saving patients a lot of money and enhancing the physicians potential to earn an additional income.
Here are just some of the name brand drugs for which patents have already expired recently or will expire adding to your income:
- Allegra and Allegra D
The Formulary – Key To A Successful Dispensing System
Not all physicians dispense the same types of medication. Your practice will determine the kind of medicines you will offer to your patients. Creating and fine-tuning a formulary which will only consist of around 10 to 20 medications, is the key to a successful dispensing solution and we can help you do that in only a few minutes.
It is always better to order less the first go around and build from there. Re-orders only take two to three days to arrive so typically only a three to four week supply of medicines are ordered. The use of generic drugs is key to the financial success of dispensing. That said, we also offer brand names, pills, liquids, creams, injectables and nutritional supplements. MedX Sales wants this to be a long-term revenue generator. We are not interested in a quick dollar and neither should you. Need help? Just ask us and get started today.