We know that frequent changes in acquisition costs and competitive prescription pricing make it hard to maintain profitable margins and attract cash-paying customers. Setting the right U&C price is a balancing act – you want an optimized price for billing insurance, but you also need to stay competitive in the growing cash-based market.
With OmniSYS, you don’t have to choose between competitive pricing and profitable pricing. By leveraging market intelligence and proven, proprietary analytics, OmniSYS 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.
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.
The traditional methods of establishing, monitoring and adjusting U&C prices are time-intensive, manual and at the end of the day, not very effective. As pharmacies moves from dispensers of medication towards more holistic providers of care, automating and optimizing pricing will give you both the time and the financial security to invest in your future.
Eliminate the time-intensive and manual process of establishing, monitoring and adjusting U&C prices by fully automating price management with OmniSYS. We constantly identify and protect against profit erosion through daily reviews of payer reimbursements and market data, guarding you from issues that erode your margins such as paid at U&C events.
Many pharmacies base their U&C pricing on acquisition cost in attempt to maintain a target margin percentage, but this limited view of pricing does not consider important factors like third-party reimbursements and local market data. Our intelligent price analysis is based on a combination of the following data elements, providing competitive and profitable U&C pricing for your pharmacy. Pricing is automatically monitored and adjusted as needed.
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.
ProfitMax integrates with the following pharmacy management systems, updating pricing within your system automatically. We do not require any monthly maintenance, and we will not tie up your system for hours each month making adjustments. Don’t see your pharmacy management system on the list? Contact us for additional options.
Tell us a little about your pharmacy business so that we can match you with an automated pricing expert today.
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.