Services - CASH DISPENSING

BENEFITS OF DISPENSING

GETTING STARTED

CASH DISPENSING

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SERVICES - CASH DISPENSING

 

One of the quickest and easiest programs to implement into your practice is Cash Dispensing. In this model, the patient pays for their medication out-of-pocket instead of going through their insurance carrier – or – the practice provides the medications to the patient as part of their “post-procedure packet” and rolls the costs of the medication into that procedure.

 

THE PROCESS:

 

FLAT RATE MODEL

In a Flat-Rate model, regardless of the cost of the medication, you would charge a standard rate across the board.

 

[Example: $15.00 flat-rate fee for all medications dispensed (breakdown in the table below)]

 

Implementing this method could mean that on some medications (usually uncommonly prescribed or slightly more expensive medications) you may lose some profit, but that profit is almost always made up through higher dispensing volume on the more commonly prescribed medications. This model works well for offices that want to establish a transparent, reliable and convenient way for patients to pay for their medications out-of-pocket; no surprises, no change in rates based on insurance – just one flat rate.

 

IN-OFFICE DISPENSING REVENUE OPPORTUNITY – FLAT RATE

 * Your Annual Ancillary Opportunity will vary based on Dispensing habits, costs vs. charges, etc.

Average Aidarex Sales Price = $5.85

Physician Price Charged to Patient = $15.00

Average Profit per dispensed Rx = $9.15

Average Provider scripts per week = 300

Weekly Profit Potential = $2,745

Realistic Profit for Physician (annual) $20k - $30k

 

TIERED RATE MODEL

In a Tiered-Rate model, practices have more control over the profit they want to make for each medication. The profit potential is generally determined by the cost of the medication and the going market rate for the same or similar medication.

 

[Example: if the physician’s cost for a medication is between $2-$5 dollars, they may want to charge a dispensing fee of $10.00. Whereas if the physician’s cost of the medication is between $6-$10 dollars, they may want to charge $15-$20.]

 

This model requires a bit more consideration to implement when it comes to how to properly price one medication over another, but there is no potential for loss-leaders.

 

IN-OFFICE DISPENSING REVENUE OPPORTUNITY – TIERED RATE

 * Pricing shown above is used as an example. Your actual cost may vary depending on current market costs.

 

PATIENT-CENTRIC MODEL

Practices looking to provide exemplary customer service will often include the cost of medications in the surgery/procedure, or dispense the medications at the time of the procedure at no cost to the patient.

This model is driven by practices looking to provide the best possible patient outcomes and differentiate themselves from other practices through this added level of convenience to their entire patient demographic.

There is very minimal profit loss in this model as most post-procedure scripts total less than $10 - $15.