This is always one of the first questions any independent pharmacy asks when speaking to me or one of our team members. To say it’s “free” is only half of the answer, the other half is “it depends.”
While we pride ourselves on transparency and have this information readily available on our home and FAQ pages, because of our personalized outreach approach, many independent pharmacies may have never browsed through our website and instead will raise the question in the first few minutes of our conversations.
We completely understand – you’re time-strapped and prefer to get a direct answer rather than spending precious minutes away from helping your patients. Cost is important (it’s not the only consideration, but it’s definitely in the top three). Cost has a huge bearing on every decision you and your pharmacy make, not just from a ‘saving more’ perspective, but also ‘losing less.’ You can only get involved with ventures that can clearly demonstrate value for your business.
Because of the wide range of pricing of various pharmaceuticals, it’s tough to answer this question with an exact figure, but a good rule of thumb is to use 10% of the sale price of your choosing as the seller as the best place to start. If you’re a buyer, then you only pay the sale price plus any additional shipping charges of your choosing based on expediency. You can even choose self pick-up if you find a seller within a satisfactory distance from your store.
At RxPost, we aim to educate every prospective buyer and/or seller to make the best decision for their pharmacy, even if that leads to a conclusion that our service is not a good fit. We’ve implemented a new pricing tool that displays the suggested WAC of an item that you are posting for sale. The more motivated a pharmacy is to sell their overstock inventory, the more they will discount the price.
Why would a pharmacy be willing to sell inventory below their acquisition cost? It’s possible that their wholesalers are charging excessive restocking fees or won’t accept the drug for return altogether (you know, that sticker residue or any excuse to reject a return). Or maybe they opened an expensive stock bottle of Xifaxan, and have no additional scripts coming in for the remainder of the bottle. And who knows if you’ll receive any credit from the manufacturer after it reaches its expiration date 2 years from now.
There are many reasons, and each independent pharmacy may experience different circumstances that will lead them to search online for an “overstock solution.”
We understand that time is a hot commodity in your independent pharmacy, and it is difficult to spare even a few minutes to try out a new service like RxPost. While we designed the marketplace and website to be as intuitive as possible, we also understand different pharmacies have different needs. Therefore, we offer additional services to make the process as easy as possible:
Ready to get started? Still curious and want to peek around? Create a free account in less than a minute with just your pharmacy NPI, email, and phone number.