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As the New Year approaches, I want to wish all our members the happiest of holiday seasons.
In 2014, independent community pharmacies and forward thinking suppliers came together on our marketplace in ever-increasing numbers. And while I don’t have firm figures to report, my back-of-the-napkin calculation is that our member pharmacies will save a total of $2 million or more this year.
I assure you, this is just the beginning. Read More....
2014 has been a very good year for Trxade. We've made lots progress in helping independent community pharmacies find new ways to save money buying pharmaceuticals and selling overstock.
Independent community pharmacies have responded by joining Trxade in record numbers. But, we know we can be even better.
2015 is right around the corner. Like all of you – well, most of you – we are working up a list of New Year’s resolutions for Trxade. This is your opportunity to influence that list.
Please answer the questions below to tell us how Trxade could work better for you.
To get you started, I’ve put together a short list of questions for you to answer. Then, feel free to use the space provided to make your recommendations.
This is not a scientific survey, but a way for you to help us focus our efforts for 2015. Identifying yourself and your pharmacy are optional. Thanks for your input. To access the survey, CLICK HERE
Did you know that Trxade has a team of people dedicated to helping you become adept at using our marketplace website to compare prices, purchase pharmaceuticals, and sell overstock (where permitted by law)? Why? Because while our technology gets the headlines, it’s only as good as our members’ ability to use it. That’s where the Membership Assistance Team comes in. Read More....
Health Economist Shreds PBMs’ Claim of Large Cost Increase from “Any Willing Pharmacy” Medicare Proposal
Posted by: NCPA.net July 28th 2014
Claims by pharmacy benefit managers (PBMs) that a massive cost increase would result from legislation giving Medicare seniors in medically underserved areas more convenient access to discounted or “preferred” copays are “theoretically baseless,” a noted health care economist and antitrust expert argues in a new analysis. Read More...
Trxade's Pharmacy to Pharmacy (P2P)* Trading Services greatly benefits Trxade Members by allowing pharmacies to list their overstock products for sale to other Trxade Members. This service allows our members to sell unwanted, unused medications that would otherwise sit idle on shelves and turn these products into cash-flow for thie pharmacy. Purchasing members also benefit by purchasing these products at deeply discounted prices. Want to learn more? Call us at 800-261-0281 for more information.
*Participation not allowed by law in some states. Please call for more information.
Few facets of medicine and healthcare have experienced the rapid growth witnessed in Electronic Medical/Health Records (EMRs/EHRs) and ePrescribing over the past five years. Yet we regularly hear pundits speaking about whether EMRs are “ready” for pharma, and whether physicians and other providers will allow pharma to “play” in this space.
We’re happy to see the topic gaining so much press, but admit to being baffled by the debate about whether EMRs are “ready” for pharma. The evidence clearly supports EMRs as both a well-established method for engaging prescribers and patients and a significant growth opportunity.
The editors at PM360 also hear the ongoing chatter about EMRs and asked me to expand my regular column to provide an update on the current state of the industry as it relates to pharma, and more specifically to the pharma marketer. Read More....
NCPA Launches Ads, Web Page Advocating for Pharmacy Choice in Medicare Drug Plans
Nearly 400 independent community pharmacists have come to Washington, D.C. to advocate for their patients and their communities as part of the National Community Pharmacists Association (NCPA) Conference on National Legislation and Government Affairs. While they will visit several hundred congressional offices, they may not reach 100 percent of Capitol Hill. So To complement their advocacy efforts, NCPA is running advertisements to echo the work of NCPA members. Read More...
Any Willing Pharmacy - Pharmacy Choice
Pharmacy Choice - When Patients Can Choose Their Pharmacy, Everyone Wins
Originally Posted by: NCPAnet.org
Ever since "preferred pharmacy" drug plans emerged in the Medicare Part D program, NCPA has actively opposed them and advocated for patient choice.
When the Centers for Medicare & Medicaid Services (CMS) issued in January 2014 a proposed regulation that would allow "any willing pharmacy" to meet "preferred" pharmacy contract terms and conditions, NCPA took a proactive approach in promoting the proposal. NCPA is deeply disappointed in CMS' decision to table for now the "any willing pharmacy" change, but NCPA continues to work aggressively in support of congressional legislation allowing more pharmacy choice in Medicare Part D drug plans.
To read more about NCPA's activity on Any Willing Pharmacy, check out NCPA's activity.
Multiple Stakeholders Send Letter to Secretary Sebelius Urging One-Year Transition Period for AMP- Based FULs (Including a primer on the history and acronyms)
In an April 9th letter to CMS, multiple stakeholders sent a joint letter to Kathleen Sebelius, Secretary of the Department of Health and Human Services. In this letter, the stakeholders express their concerns about CMS’ plans to implement AMP-based FULs in July 2014 and ask for a one-year transition period. Read More....
Indian authority withdraws Ranbaxy plant export permit
Pfizer stock trades halted over drug patent ruling
Original post by bigstory.ap.org - By LINDA A. JOHNSON — Mar. 12, 2014 5:36 PM EDT
TRENTON, N.J. (AP) — A federal court on Wednesday invalidated the key patent for one of Pfizer's most lucrative medicines, potentially opening the door for cheaper generic versions 18 months sooner than expected and cutting into the drugmaker's profit.
Pfizer Inc., still trying to make up for the loss of about $7 billion in annual sales since generic competition hit its cholesterol fighter Lipitor in December 2011 , could lose a couple billion more if the court decision on the Celebrex patent stands. The world's second-biggest drugmaker said it disagrees with the ruling and will "pursue all available remedies," including immediately appealing Wednesday's ruling by U.S. District Judge Arenda Allen of Virginia's Eastern District in Norfolk. Read More...
As advocates for the Independent Pharmacy, we at Trxade want to make sure that your voice is heard on the upcoming decisions regarding the Affordable Care Act; which greatly impact the future of your pharmacy.
We urge you to take action NOW.
Go to: www.Trxade.com and download petition from the link located at the top of the site.
Send fax using your company fax cover letterhead.
Fax one signed copy for submission to the CMS – Fax#: 202-683-7011
Fax this same document again to your state Senator. Include Senator’s Name to top of the petition (a list of state Senator Fax numbers can be found with this packet for your convenience).
Be sure to add your comments of your personal experiences at the bottom of petition.
FORWARD to as many of your pharmacy colleagues as possible. This is IMPORTANT!
BE SURE INCLUDE ONLY YOUR COVER AND THE PETITION IN THE FAX. DO NOT INCLUDE THIS COVER PAGE OR SENATOR LIST.
This petition addresses:
The elimination of Preferred Networks
The need for a level playing field on reimbursements – Equal Pay for Equal Work
More control over the initiation and adequate reimbursement of MTM Services
The ability to refute reimbursements set by future CMS benchmarks
GAO: Federal upper limits 1.4% lower than National Average Drug Acquisition Cost
February 7, 2014 | By Michael Johnsen
WASHINGTON — In a report publicly released Thursday by the U.S. Government Accountability Office, the GAO found that the total draft federal upper limits amount based on the new formula under the Patient Protection and Affordable Care Act was about 1.4% lower than the total National Average Drug Acquisition Cost amount in aggregate for 1,035 outpatient drugs subject to the FUL in first quarter 2013. GAO found large differences between the total PPACA-based FUL amount and the total NADAC amount for generic and for branded generic versions — brand-name drugs with other versions that can be substituted for one another — of the drugs subject to the FUL in first quarter 2013. Read More...
Trxade has been calling for a level playing field and the elimination of unfair preferred pharmacy networks under Medicare while almost every buying groups was supporting Smart D. We need to remind the community pharmacies with our prior position which is to absolutely support the community retail pharmacy!
In early January, CMS released CMS-4159-P, a document outlining proposed changes for Medicare Advantage and Medicare Part-D in 2015. While these changes are still just proposals, many of the rules are potentially big wins for independent pharmacies. After lobbying hard, it appears CMS has answered the NCPA’s calls on three key issues:
Preferred Pharmacy Networks
CMS’s proposed changes take a stab controlling the rapid and unequal expansion of preferred networks. In 2011, Walmart ushered in the era of preferred pharmacy networks with its Humana-Walmart plan. Now, only a few years later, roughly ¾ of all Part-D plans have a preferred network. Unsurprisingly, independent pharmacies are barely represented in these networks, and as NCPA research has shown, using a preferred pharmacy does not ultimately guarantee lower cost sharing. Read More:
FDA Prohibits Facility from Producing and Distributing Drug Ingredients for US Market
January 29, 2014 5:20 PM
A Food and Drug Administration (FDA) decree has prohibited Ranbaxy Laboratories, Ltd, from manufacturing and distributing active pharmaceutical ingredients (APIs) from the company’s facility in Toansa, India, for use in FDA-regulated drug products. An inspection of the facility on January 11, 2014, identified significant current good manufacturing practice violations, including retesting of raw materials, intermediate drug products, and finished APIs in order to produce acceptable findings after items failed analytical testing and specifications. According to an FDA press release, the facility is now subject to certain terms of a consent decree of permanent injunction entered against Ranbaxy in January 2012. Read More....
January 23, 2014
The FDA has released a New and Generic Drug Approvals list. To view this list, click here.
The Entrepreneur’s Approach to 2014’s Affordable Care Act
Posted by Kate Weissing on Tue, Jan 21, 2014
The Affordable Care Act became effective on January 1, 2014, leaving approximately 15 million people who had health care insurance on December 31, 2013, with no health care plan on January 1, 2014. This creates an immediate situation for your pharmacy and unfortunately, you’ll likely be the first to encounter its effects. Read More....
Know your product costs and purchase those generic and specialty products that are best priced. Government pharmaceutical generic reimbursements are based on product name and strength and not NDC; meaning your reimbursements will be significantly enhanced by purchasing the lowest cost generic products. It is imperative that you know those manufacturers and generic products that enhance profits and serve the needs of those you represent.
Trxade’s MTM service is designed specifically for the independent, retail pharmacist. The Affordable Care Act creates an opportunity for the pharmacist to benefit and cultivate both doctor and patient allegiance by knowing all of the patient’s drug protocol and interfacing with the doctors involved; especially those patients that have Medicare Advantage or standalone Part D plans.
Trxade’s Medicare template provides the pharmacist and patient with those plans most suitable based on the results of the initial pharmacist MTM patient consulting. The Pharmacist is then in a position to cultivate strong relationships with doctors by recommending drug regimens that meet the true needs of the patient when costs and product shortages can be pinpointed.
Trxade’s product shortage list and price trend analysis keeps the pharmacist up-to-date as to Medicare patient annual costs and recommendations to doctors for potential product substitutions. This professional branding capability results in more patients and an expanded doctor client base. The pharmacist becomes an integral part of the healthcare team by utilizing the tools available with membership from Trxade.
Maintain real-time knowledge of product costs because pharmaceutical product costs vary over time and by source. To rely upon what you did last month or last year without patient or product knowledge is not part of a proactive purchasing process. Pharmacists must master the science of purchasing and inventory control management.
Create a marketing program which will build relationships with your potential source of clients. Build relationships with doctors. One of the best ways to market your pharmacy business is to work in partnership with doctors. Develop a system to allow you to manage patient medication regimens. This can free doctors to focus on patient care. Possess those medications they really need. Interface with each specialty and maintain products that are required by interfacing with the doctor and listing exact product requirements.
If a specialized clinic is in your area, such as a dialysis clinic, stock the full range of equipment and medicines they prescribe. Evaluate your local market through a specialty target approach. Markets that might be served by specialty pharmaceuticals and related products are:
Growth Hormone & Related Disorderes
Inflammatory Bowel Disease
Oncology- Injectibles, Oral/Topicals
Pulmonary Artherial Hypertension
Respiratory Syncytial Virus
Differentiate your pharmacy from other local pharmacies by the needs of the targeted doctor or clinic and their specialty. Know the doctor’s needs and develop a relationship with those that see you as serving those needs with brand and generic pharmaceuticals they prescribe.
Relationship building with doctors with specialties invariably leads the pharmacist into a much greater proportion of compounding products.
Have multiple sources of supply. Do not rely upon one distributor. With diminishing margins and significant product shortages, knowledge of the wholesaler distribution process is mandatory and Trxade is designed with multiple sources of supply under a “compete or die” business model. The most competitively priced generic product is almost always available at the Trxade web-based exchange.
Focus on your patients’ health. Build relationships based on improving therapeutic outcomes with each patient. Become a part of your patient’s health concerns and be able to professionally answer to those concerns. Start with Trxade’s MTM services and couple that with Medicare expertise.
Know your patient and greet them as if you know them. Demeanor is everything!
Learn about new technology to expand your business. New pharmaceutical e-store purchasing technology allows you to acquire those products that address expanding specialty markets and maintain a margin of profit advantage over local retail pharmacy competitors.
Medication pass systems might prove beneficial to penetrate the home and assisted living facility market. Providing the equipment and knowledge to minimize error rates in the home, LTC and assisted living market might expand your market horizon.
Evaluate your primary distributor contract to determine whether a buying group or co-op might provide you with lower costs and purchasing flexibility. Trxade houses the largest buying group in the industry with the widest product sku, the most product sources, and the lowest cost on brand and generic pharmaceuticals.
Your primary distributor’s contract might be outdated for today’s marketplace. Re-evaluate contracts with return companies and all service providers. Check out the most competitive returns company in the industry at the Trxade site and expand product returns revenue. List products at Trxade’s pharmacy to pharmacy exchange where you know you have handled those close to expired products with a method to enhance the bottom-line.
Discuss important decisions with pharmacist bloggers and understand issues they are confronting and what strategizes they are using to confront those issues.
Take a critical eye toward floor space and the products you market. The sum does not always add up to the whole. Pharmaceuticals amount to on average 93% of the retail, independent pharmacist’s revenue.
Expand the pharmacist view in the healthcare process. Provide injections, consulting services- follow the approach recommended by the Affordable Care Act so your client becomes a patient.
Some pharmacies have significantly enhanced revenue through LED/TV Digital advertising and presenting relevant media content within the store, along with couponing to target markets within a given radius from your location
Understand reimbursement formulas. Maintain a clear picture of Medicare Advantage and Standalone Part D average retail price provided through the Trxade Medicare Evaluator and utilizing our pharmacy acquisition cost benchmarks to ascertain ingredient cost profit before you purchase products.
Join a MTM provider that is geared to the independent retail pharmacist- Trxade provides the best MTM capability.
Become an expert on which Medicare plans are best for your patients. Utilize your MTM service consulting as a direct way to provide expertise in Medicare plan consulting.
Know your Medicaid reimbursements based on the federal upper limit benchmarks and pharmacy acquisition cost PAC, all available at Trxade’s data analytical site.
Federal control over reimbursements will be extended to third parties, state Medicaid and Medicare as well as cash sales. Know your PAC, FUL, NADAC & utilize Trxade’s PAC to lower purchasing costs and Trxade’s suggested retail Cash Price to expand product margins; all free of charge at the best website on the internet www.trxade.com
2014 Promises to be Most Successful Year Yet for Trxade Members
For years, Independent Pharmacies across the nation have benefited from the tremendous cost savings of purchasing their brand and generic pharmaceuticals through Trxade.com's platform. Many of our Members have shared their elated experiences using Trxade on industry blogs and other social media sites.
Trxade.com, since its inception, has successfully achieved what we set out to do - to bring pricing transparency and significant cost savings to the Independent Pharmacy through Supplier competition. With the integration of state-of-the-art data analytics and the upcoming release of industry-changing services, we have expanded to become one of the nation's most successful and beneficial purchasing platforms of its kind - saving our Members hundreds of thousands of dollars each year. As we launch into 2014, we promise to bring our Members even more value and more cost-saving opportunities to make 2014 the most successful year yet!
If you have Trxade.com experiences you would like to share, simply send us an email: firstname.lastname@example.org We always appreciate and welcome your feedback!
All of us here at Trxade wish you and your family and loved ones a Very Happy Holiday!
Please note that many of our Supplier Partners will not be processing and shipping order on Tuesday, December 24th in observance of Christmas Eve, and on Wednesday December 25th in observance of Christmas day. All orders submitted on these days will be processed and shipped resuming on Thursday December 26th, 2013.
Many of our Supplier Partners will also not be shipping on December 31st, in observance of New Year's Eve and on January 1st 2014 in observance of New Year's Day. All orders submitted on these days will be processed on Thursday, January 2nd 2014.
As always, Trxade.com is available 24/7, 365 days a year. Should you need customer service assistance, please call: 800-261-0281.
Merry Christmas and a Happy New Year from Our Family to Yours this Holiday Season!
WEEKLY NEW PRODUCT SHORTAGE ALERT
TRXADE maintains a comprehensive and real-time pharmaceutical product shortage database for the benefit of our Members. This database affords our pharmacy members with an opportunity to take advantage of price anomalies that exist in the generic product marketplace.
Shortages are the primary cause of price increases in generic drugs. The magnitude of price increases is dependent upon many circumstances, but when the anticipated shortage is significant, TRXADE immediately informs our valued Members!
In honor of Memorial Day, our offices will be closed on Monday, May 28th. Please remember that Trxade.com is open 24/7 365 days a year for your convenenience.Any orders placed after 6:00 pm EST on Friday, May 25th will be processed on Tuesday, May 29th. We will continue to monitor our systems over the long weekend. If you experience any issues or need assistance at any time, simply submit your information on our website "Contact Us" form, and will be in contact with you in a timely manner.
Welcome to Trxade.com's new website! We have enhanced our features and benefits of purchasing through Trxade.com and have launched a new look to our site. We hope you find our enhanced new site and benefits to be even more of an enjoyable experience while using Trxade.com! We welcome your feedback as our clients and customers are our top priority!