Empower your pharmacy using data-backed strategies for smarter pharmacy purchasing.
Pharmacies hold the key to delivering crucial drugs and first-rate patient care in the complex world of healthcare. But navigating this landscape isn’t without its challenges. A myriad of obstacles including staffing shortages, 3rd party audits and DIR (Direct and Indirect Remuneration) fees, cloud everyday operations, financial security and expansion potential.
At SureCost, we understand the complexities and demands that pharmacies face. Our commitment to empowering pharmacies and driving positive change has led us to conduct an annual analysis of customer data. In the SureCost 2023 Annual Smarter Purchasing Report, we delve into 2022 customer data and uncover the secrets of Smarter Purchasing.
The SureCost Smarter Purchasing strategies empower pharmacies to drive continuous growth and savings in their operations. In this blog, we highlight the five key areas of Smarter Purchasing that enable pharmacies to conquer these challenges and hold the key to pharmacies’ success.
Product Savings Beyond the Top 200
Smarter Purchasing starts with finding the best medication prices, a game-changer in itself. With SureCost, pharmacies view all of their vendor’s pricing in one place, saving pharmacies time by avoiding price-shopping and looking through multiple platforms and catalogs. SureCost also goes beyond the norm, uncovering significant cost savings beyond the Top 200 generic medications.
With advanced technology at their disposal, pharmacies can now explore a broader range of possibilities, unveiling hidden cost-saving opportunities buried within vast catalogs, secondary vendors and product categories. SureCost empowers pharmacies to make data-driven decisions, ensuring they secure the most competitive pricing for medications, maximizing savings and bolstering their financial standing.
Another crucial area of Smarter Purchasing is vendor non-compliance. Inaccurate pricing or inadvertent mistakes by vendors lead to increased costs for pharmacies. The data analysis reveals a substantial number of contracted items experiencing pricing issues, amplifying pharmacy expenses. SureCost’s solution brings accountability, alerting pharmacies of vendor deviations from quoted contract prices. With transparency and trust established, pharmacies reduce rogue spending and achieve better financial control. Read more >