Rx-Net Ideal Pricing Strategy

With RxNet, fine tuning your pricing strategy has never been easier or more comprehensive

The RxNet Approach

Step 1: Fix existing pricing issues

  1. Prices too high
  2. Prices too low

Step 2: Evaluate discount list items

  1. Detrimental items
  2. Items not popular
  3. Items that can be added

Step 3: Predicatively model price strategy

  1. Current analysis
  2. Projected impact
  3. On going analysis and adjustments
Headache
  • Low cash penetration
  • Flat or shrinking margins as 3rd party revenues rise
  • Culture of discretionary overrides
  • Paid at U&C events recurring
  • Price inconsistency within same GPI or between staff
  • Available bandwidth for price management
Puzzle w Red piece

An Ideal Pricing Strategy

Fully automated

Price all NDC’s under same GPI the same

Never price below highest MAC, your cost +%, lowest in area

Customizable – Exceptions, tolerances, location, plans/BIN’s

Changes in effect the next day

No staff training, no switch fees, no change in operations

blue-and-white capsules spilling from a prescription medicine bottle across the corner of a prescription; shallow depth-of-field image with focus on the nearest capsule

Made Possible by RxNet

Automating the Best Price

Close-up of the Rx prescription symbol on a computer keyboard.

Third-Party Reimbursement*

Example 1:  $35

Example 2:  $15

Example 3:  $8

*Ignoring $0 third-party, special programs, etc.

Market Pricing*:

Example 1:  $31

Example 2:  $18

Example 3:  $7

*switch data, published lists, staff overrides

Acquisition Cost*:

Example 1:  $43

Example 2:  $3

Example 3:  $5

*Based on user minimum % over cost

The Correct Price:

Example 1:  $45 - Cost +% Wins

Example 2:  $18 - Market Price

Example 3:  $8 - Third-Party Wins*

*Logic would set the price slightly over $8