The pharmaceutical industry is one of the most important in the world in terms of product consumption and marketing. However, behind it lies a problem that affects many independent pharmacies: reimbursement. This is such a delicate issue that it threatens the very survival of these health establishments.
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What is the origin of this problem and how can it be addressed? In this article, we will delve deeper into this issue to better understand it. One of the main causes of the reimbursement problem in independent pharmacies is the mismatch in the pricing structure that exists between pharmaceutical companies and health insurers.
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In most cases, insurers pay for drugs at lower prices than patients pay when they do not use their insurance. This results in pharmacies not making a significant economic profit, which prevents them from meeting all of their financial needs.
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Another cause of the reimbursement problem is the delay in the insurer paying the cost of the drugs, where it can take up to weeks or months. The time frame to receive payment can vary, which means that independent pharmacies must wait to be paid in turn.
Having a monthly cash flow, this longer waiting time makes it difficult for pharmacies to maneuver and achieve an operating cash flow.
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In addition, the constant pressure on pharmacies to reduce their prices also contributes to the reimbursement problem. Constant competition with other independent pharmacies, and with chain pharmacies that have unlimited financial resources, forces independent pharmacies to keep reducing their prices to maintain their customer base.
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The problem is that these discounts are not always supported by insurers, which means that these health care establishments must absorb lost sales. One of the obvious solutions to the reimbursement problem is collaboration between pharmaceutical companies, health insurers and independent pharmacies.
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This will create a more consistent and transparent pricing structure, which will not only benefit pharmacies, but will also give insurers the opportunity to offer better prices and meet their healthcare needs in an ever-changing market. The pharmaceutical sector cannot afford to have such a serious problem affecting the growth and livelihood opportunities of this important health care establishment.
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Another very effective solution is the antioxidant scanner. An antioxidant scanner measures the level of antioxidants in a person’s body. Antioxidants protect cells against free radicals, which can cause disease and premature aging. By measuring the levels of antioxidants in the body, a person can be aware of his or her health and take steps to improve it.
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Although there does not seem to be an obvious connection between antioxidant scanning and the problem of reimbursement at independent pharmacies, there is a connection. By offering this service, independent pharmacies can differentiate themselves from large chain pharmacies and offer something unique in the community. This can drive pharmacy traffic and increase sales of products available at the pharmacy.
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In addition, offering services such as antioxidant scanning can differentiate independent pharmacies in the minds of insurance payers. Independent pharmacies can demonstrate their ability to offer personalized services and individualized care, which may cause payers to consider the independent pharmacy dispenser as their preferred dispenser.
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More over, the antioxidant scan can lead to more meaningful conversations about health. By knowing their antioxidant level, an individual can take steps to improve their health. At the same time, pharmacists can talk to patients about dietary supplements and lifestyle changes that may be beneficial to health. In the long run, this can lead to healthier patients and a more loyal independent pharmacy clientele.
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The reimbursement problem has existed for years in the pharmaceutical industry. However, the time has come to do something about its limiting and affecting effects on the operation of independent pharmacies. Establishing an adequate pricing structure, a more efficient payment policy and collaboration between the segments involved may be key to guarantee the survival of these pharmacies and, therefore, promote greater patient welfare.
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Fighting to solve the reimbursement problem can ensure the future success of the independent pharmaceutical industry and the protection of patients who need it so much.
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At Functional Wellness Network, we help the healthcare industry, healthcare professionals get key point solutions to improve their services and help their patients achieve better outcomes.
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If you would like to learn more about how we help the healthcare industry, please visit our website at:
www.functionalwellnessnetwork.com
or contact us at
Antioxidant Scanner: 858-899-8880
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Dr. Mansi Shah
Functional Wellness Network
www.functionalwellnessnetwork.com
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