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"So...
Your Patients Aren't Refilling Their Prescriptions?"
Each time I see a new
case study about the high clinical and financial costs of
refill noncompliance, I wonder what role pharmacy can play
to help reverse these statistics.
Pharmacy is being squeezed from every side to lower drug costs.
The future could look bleak IF everything hinged on this.
It's too easy to get bogged down with all the details of purchasing
costs -- and overlook the professional rewards and financial
benefits that a well-planned patient education strategy can
bring to your pharmacy.
The first step is to ask why the patient didn't
refill the prescription?
- Did the person not understand how to take the medication
correctly?
- Did the person develop an annoying side effect they didn't
know how to manage... and stopped taking the medication?
- Did the person see something about the medication in a
newspaper or Internet chat room that frightened them?
- Did the person discuss their concerns with the pharmacist
before deciding not to refill the prescription? If not,
why? Did they think the pharmacist was too busy?
Without a well-planned patient education strategy,
a pharmacy can never increase patient compliance and meet
the patient's needs. It is critical to remember that the pharmacy
directly bears the consequences of "inappropriate" patient
decisions. When patients don't refill their prescriptions,
the pharmacy's ROI suffers. Recent studies show that:
- The average pharmacy loses as much as $9,500 in revenues
a year just from poor compliance with hypertensive drugs.
- By increasing the number of refills overall by as little
as 10%, a community pharmacy's sales could jump by more
than $55,000 a year.
- A pharmacy's net profit could rise more than $8,000 for
each 10% increase in refills. A 10% increase in refill compliance
is a low figure. In fact, a 50% increase in refill compliance
is a very achievable goal, and would produce approximately
$238,000 in added revenues a year. Imagine the increase
in net profit if you increased refill compliance to 70%!
(For more information on
this topic, click
here.)
Source: Consumer
Health Information Corporation Patient Education Update:
Your Competitive Edge Vol. 1 No. 1
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