Automated Drug Pricing
Stay competitive while improving profitability
Although cash may only be 10 percent or less of your prescription volume, cash prescriptions can make up to 25 percent or more of your margins. Many pharmacies base their cash pricing on acquisition cost in attempt to maintain a target margin percentage, but this limited view of pricing does not take into account important factors like third-party reimbursements and local market data.
With ProfitMax, you don’t have to choose between competitive pricing and profitable pricing – you can have it all! By leveraging market intelligence and proven, proprietary analytics, ProfitMax automatically sets and constantly adjusts your usual and customary (U&C) pricing to ensure your prices stay competitive for cash-paying customers while also maintaining profitable margins for your pharmacy
Optimize and automate your pricing strategy
Eliminate the time-intensive and manual process of establishing, monitoring and adjusting U&C prices with our fully automated price management solution. Our intelligent price analysis is based on a combination of the following data elements, providing competitive and profitable U&C pricing for your pharmacy:
- Third-party reimbursements
- Margin goals
- U&C reimbursements
- Acquisition costs
- Geographical market data
- Staff override history
Pricing is automatically monitored and adjusted as needed.
Customize pricing based on your goals
No two pharmacies are the same, and no two pricing strategies should be either. We take into account your pricing goals for brands, generics and individual drugs to build a custom pricing strategy for your pharmacy. Through our user-friendly interface, you can easily adjust how aggressively you want to price drugs based on market popularity and see how any pricing changes will impact your revenue and gross margin. ProfitMax enables you to set and maintain the ideal pricing strategy and margins for your pharmacy.
Spend less time on pricing, more time with patients
Gone are the days of having to perform your own market research. Not only does ProfitMax automatically set and adjust pricing, it also updates that pricing within your pharmacy management system. The service requires no monthly maintenance from you, and we won’t tie up your system for hours each month making adjustments.
The ProfitMax Difference
- Proven ability to improve overall margins
- Market-based price data keeps pricing relevant
- Fully automated and workflow-integrated
- No additional switch fees
- Protect against above cost, below minimum margin instances
- Reduce claims paid at U&C by ensuring price is not below your highest MAC
- Improve price confidence and reduce overrides
- Improve price consistency
- Protect against cost changes
- Simple, intuitive interface allows you to manage all aspects of your pricing
Request more information
See how ProfitMax can positively impact your pharmacy’s bottom line.
Please note that we do not provide drug prices to patients. If you are a patient and have a question about the price of your medication, please contact your local pharmacy.