Why Should You Start Dispensing Medication Now?

Managed Care

Physicians are struggling with finding ways to increase earnings since many of their patients are participating in a managed care plan such as a PPO or HMO.  Not following an insurance carrier's formulary compliance can cost you a lot of money when prescribing too many of the "wrong drugs" (the ones the insurance companies doesn't want you to prescribe) to your patients.  Dispensing medication to the patient actually reduces this problem dramatically since the claim is never turned in to the insurance company.  No risk pool worries.

More Income / No Extra Effort

Too good to be true?  Not really.  Think about it.  You prescribe medication to your patients every single day but don't get paid anything for it.  You either write the script or call one in to the pharmacy.  Only the pharmacy and the pharmaceutical reps financially benefit.  We plan on changing that and you can too.

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.  You get paid directly from 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 on the card (typically $15.00 today for generic).  This way, it doesn't cost anymore for the patient to purchase the medication from you and you will earn a profit of $8.00 to $10.00 per medication dispensed.  Physicians that handle workers compensation can literally earn hundreds of thousands of dollars per year dispensing medication to their workers compensation patients.  See our special section on MedX Managment Group's Dispensing Program for workers compensation.

A successful dispensing solution primarily focuses on generic drugs.  Each year hundreds of well known medications are going generic saving patients a great deal of money and earning physicians additional income.  Ironically, some physicians refuse to write scripts for generic drugs only to see the pharmacist "sell" the patient on the idea to save the patient money.  Little does the patient know that the pharmacist earns a lot more money on the "cheaper" drug.  Insurance companies often have a policy that if the generic equivalent of a brand name drug is available, the generic drug is what will be provided to the patient at the pharmacy.  The fact is generic drugs are proven effective and safe for many ailments and disorders.

Here are just some of the name brand drugs whose patents will expire between late 2005 & 2006:

• Zithromax
• Zocor
• Zoloft
• Ambien
• Amaryl
• Allegra and Allegra D

The Formulary - Key To A Successful Dispensing System

Not all physicians dispense the same kinds of medication.  Your type of practice will determine the kind of drugs you will offer to your patients.  Creating and fine-tuning a formulary is the key to a successful dispensing solution.  Some physicians have tried dispensing in the past and were disappointed with the results.  They simply bought the wrong kinds of drugs or too much inventory at once.

We have all of the tools that you'll need to create a formulary in minutes including specific formularies for all types of practices as well as the top 250 most prescribed name brand drugs and its generic equivalent.  Merely review and check off your selections on a simple form and we'll have you a quote and financial analysis within a day.  Call today and let a trained MedX Dispensing Consultant help you.

It is always better to order less the first go around and build from there.  Re-orders only takes two to three days.  Typically only a two or three week supply of drugs needs to be 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 neutritional supplements.  We want this to be a long-term revenue generator.  We are not interested in a quick buck and neither should you.  Need help?  Just ask us.  Get started today.

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