Your pharmacy’s profit margin is a true indicator of pharmacy health and stability. As a metric, it is probably the top indicator of the health of your business. And, for that reason alone, it should be front and center on your organization’s radar.
However, a profit margin is only as successful as the ability to track metrics that drive that profit – rebates, spending, and the ability to manage multiple pharmacies at once to name a few. When it comes to larger profits and rebates, these metrics should not only be measured, but continuously improved.
AAPA has given its members an edge over their competition when it comes to tracking their pharmacy’s performance with our AdvantEdge™ Portal tool.
Read on to see how members can become top performing pharmacies by utilizing this invaluable resource!
One thing all successful AAPA member pharmacies have in common is their ability to utilize pharmacy insights in order to make proactive buying decisions. These decisions not only help boost their profit margins, but they can also help drive benchmarks that result in larger rebates.
With the AdvantEdge™ Portal, your pharmacy gains near real-time access to your pharmacy’s:
- Generic Compliance Ratio (GCR) percentage plus
Monthly or quarterly performance data on:
- Total Rx Spend
- Total Brand Rx Spend and
- Total Generic Rx Spend
In addition, members can get instant visual representation of their pharmacy’s performance for specified data ranges including:
- GCR month-over-month
- Rebate tier tracking and
- Easy to read performance summaries
And, these reports can be exported into Excel spreadsheets where they can be sorted, arranged, and customized to best suit your pharmacy’s goals and utilized to address – and correct – any challenges your pharmacy might experience.
Just Log In and Go
As an AAPA member pharmacy, you already have access to our AdvantEdge™ Portal tool. The question is: are you ready to drive your pharmacy’s profits and rebates to the next level?
With this near real-time tool, designed to deliver proactive information that allows users to make more informed purchasing decisions, you can do exactly that.
Save time, remedy challenges, and track the growth of your profitability. Already have your credentials? Simply log into the AdvantEdge™ portal today. Already a member but don't have your credentials? Request them here!
Not a member yet? What are you waiting for? Get your AAPA Edge and learn more about how AAPA membership can help boost your independent pharmacy’s purchasing power, profitability, and support network to keep growing your business, by joining us today!
Learn more about the AAPA and its enhanced independent pharmacy offerings at http://www.aaparx.com/programs.