William Edwards Deming, once said, “The ultimate purpose of collecting the data is to provide a basis for action or a recommendation.” And we wholeheartedly agree.
PHARMACEUTICAL RETURNS ARE ALL ABOUT DATA
To successfully move a customer’s expired pharmaceutical returns from processing to credit, it is necessary to compile a continuous data thread for each returned item, linking the returning facility, their wholesaler program, the product detail, the product’s manufacturer, and the resulting credit.
At each touch point, unique identifiers are assigned that tie all collected data to the returning facility. This ensures that the hundreds of thousands of credits issued for expired pharma products returned under each processing cycle are allocated correctly for ultimate distribution to the pharmacy. It also amasses a huge volume of data.
Data is a fortunate by-product of the pharmaceutical returns process. And as a result, GRx is uniquely positioned to compile and provide valuable data (and a basis for action/recommendation) to your pharmacy operation.
Here’s a real-life example of pharmaceutical returns data that provided the basis for action, changed how our customer operates and saved substantial money.
A review of a customer’s returns data showed non-returnable estimated values that were higher than their returnable estimated values. This observation suggested a disproportionate amount of waste may be taking place. This warranted a closer look at the Non-Returnables report, specifically we examined the Top Reason Codes for Non-Returnables report. Read more >
This post is related to:Returns & Waste Services (Pharmaceutical/Medical)