Latest / Pharmacy Podcast Network / PrimeRx Launches First-Ever Real-Time Marketplace Integration | Pharmacy Tech Trends: PrimeRx

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PrimeRx Launches First-Ever Real-Time Marketplace Integration | Pharmacy Tech Trends: PrimeRx · Pharmacy Podcast Network

• 0:05
  Speaker 1: You are listening to the global network of podcasters dedicated
• 0:09
  Speaker 1: to the pharmacy profession.
• 0:10
  Speaker 2: Welcome to the Pharmacy podcast Network.
• 0:29
  Speaker 3: We are committed to the pharmacy owner's success. PRIMRX believes
• 0:32
  Speaker 3: in empowering pharmacies with innovative solutions to thrive in today's
• 0:36
  Speaker 3: competitive landscape.
• 0:38
  Speaker 4: We look forward to working with.
• 0:39
  Speaker 3: Pharmacy owners and sharing how our solutions can contribute to
• 0:43
  Speaker 3: their sustained profitability and growth. Connect with us on the
• 0:46
  Speaker 3: web by going to primarx dot io. That's primearx dot io.
• 0:52
  Speaker 1: Hey there, podcast listeners, this is a special episode from PrimeRx.
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  Speaker 1: You can learn more at primarx dot I owe in
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  Speaker 1: launching the first ever real time marketplace integration and what
• 1:06
  Speaker 1: that means for you as pharmacy operators and owners. David
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  Speaker 1: Kirkus is back on the pods. David, it's straight great
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  Speaker 1: to see great.
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  Speaker 4: See you, Todd. Nice to be here as always.
• 1:19
  Speaker 1: And the legend needs no introduction. CEO primer X. Caden Meta,
• 1:25
  Speaker 1: how are you.
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  Speaker 5: Add always always nice to be here.
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  Speaker 1: It's nice to talk with you. I'm so glad you
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  Speaker 1: got to be on this week in Pharmacy. That episode
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  Speaker 1: did very well, as we were digging into the primer
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  Speaker 1: X user conference that's coming up in New Jersey, going
• 1:40
  Speaker 1: to be excited to be about tracking that. But today's
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  Speaker 1: a special conversation, gentlemen, that I'm excited to listen in
• 1:47
  Speaker 1: on as you two are discussing what this means for
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  Speaker 1: pharmacy owners. When we're talking about framing out the world
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  Speaker 1: of integrating our buying power and available products, secondary opportunities,
• 2:04
  Speaker 1: other services that don't necessarily have to do with medication,
• 2:08
  Speaker 1: but other things that might be sold through our pharmacies,
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  Speaker 1: but having that integration right to what's commanding our pharmacy operations,
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  Speaker 1: the pharmacy management systems. David start us off with a
• 2:21
  Speaker 1: brief introduction as to you know, what's happening in the
• 2:25
  Speaker 1: world of we've got tariffs, we got drug shortages, we
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  Speaker 1: got the DIRF nightmare that we're finally through, but it's
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  Speaker 1: still impacting us. And talk to us about the challenges
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  Speaker 1: and why this technology makes sense today more than ever.
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  Speaker 6: Yeah, sure, I think you know, over the course of
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  Speaker 6: the last many years, there have been just a number
• 2:47
  Speaker 6: of challenges facing pharmacies and independent pharmacies in particular, and
• 2:54
  Speaker 6: you know, we can go down the list of all
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  Speaker 6: the different pressures on all the other middlemen who squeeze
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  Speaker 6: pharma and really create a challenging operating environment. We've seen
• 3:05
  Speaker 6: margins dwindling in pharmacies. Reimbursement is not you know, has not.
• 3:11
  Speaker 6: The race to the bottom for reimbursement continues to be
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  Speaker 6: a real issue. And we you know, I don't want
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  Speaker 6: to come on here and talk too much about problems.
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  Speaker 6: I'd really talk about solutions and our efforts at primar
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  Speaker 6: x to really develop the tools and technologies that pharmacies
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  Speaker 6: can use right now to make a difference. So, whatever
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  Speaker 6: the challenges are, we know that if you can improve
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  Speaker 6: your cost of goods, if you can buy your inventory
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  Speaker 6: at a lower price than what you're paying today, a
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  Speaker 6: lot of those problems become a lot easier to deal with.
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  Speaker 6: Your reimbursement pressure is mitigated somewhat. The various other challenges
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  Speaker 6: that are impacting finances of the average pharmacy owner from
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  Speaker 6: you know, staffing challenges, rising wages in an environment where
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  Speaker 6: it's just really you're not having more money coming in
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  Speaker 6: and your expenses are rising. We know that the one
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  Speaker 6: last piece that the pharmacy can really get a grip
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  Speaker 6: on to move the needle on their bottom line is
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  Speaker 6: improving their cost of goods. So, just to give a
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  Speaker 6: brief overview of what primary X market is in general
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  Speaker 6: prior to the integration, it's a fully functioning online pharmaceutical
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  Speaker 6: marketplace where we have over forty wholesalers supplying drugs to
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  Speaker 6: pharmacies in a competitive environment. So you're improving your costs,
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  Speaker 6: You're able to see the best price available from very
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  Speaker 6: many sources in one place, and also improve your likelihood
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  Speaker 6: of the medications that you need being in stock as
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  Speaker 6: well and available at the time that you need them.
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  Speaker 6: So we've taken this full functioning marketplace experience and built
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  Speaker 6: out something really nice that the pharmacies are using regularly
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  Speaker 6: to save significant money on the cost of the pharmaceuticals
• 5:01
  Speaker 6: that they're dispensing. Now the subject today's podcast to get
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  Speaker 6: to that, the integration with primar x with the pharmacy
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  Speaker 6: management system is a truly groundbreaking change and the first
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  Speaker 6: time this is ever you know, we've ever anyone has
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  Speaker 6: ever brought a competitive shopping marketplace into workflow. And we
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  Speaker 6: all know that anytime a pharmacist or pharmacy technician has
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  Speaker 6: to leave the pharmacy management system to go to some
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  Speaker 6: other site or go use another piece of technology to
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  Speaker 6: perform any function. Yet right your execution just falls completely.
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  Speaker 6: You know, you lose eighty percent of people are never
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  Speaker 6: going to leave workflow to do anything. So what we've
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  Speaker 6: done is brought the shopping experience and the competitive marketplace
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  Speaker 6: directly into workflow. And I'll pause there if you have
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  Speaker 6: any questions or we can start getting into a little
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  Speaker 6: bit more about how it actually works.
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  Speaker 1: Well, Kayden, I wanted to kind of hear from you too,
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  Speaker 1: and that is, you know, there's an advantage to now
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  Speaker 1: adding this into a system that is now moving towards
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  Speaker 1: cloud technology as well, so that the flexibility of this
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  Speaker 1: system and technology is in the palm of my hand
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  Speaker 1: when I'm out as a pharmacy owner and operator, I'm
• 6:18
  Speaker 1: out at a conference, I'm doing something and i need
• 6:21
  Speaker 1: access to bigger data that's about impacting my business. So
• 6:26
  Speaker 1: talk to us about the the advantages of an all
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  Speaker 1: in one enterprise platform that is also in integrated into
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  Speaker 1: the cloud.
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  Speaker 5: Yeah.
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  Speaker 2: I'll also probably comment a little bit on Tartis and
• 6:41
  Speaker 2: the shortages in the yeah industry, et cetera. I mean,
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  Speaker 2: these things are very true, very real there's a lot
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  Speaker 2: of fun certainty. I think one of the things that
• 6:53
  Speaker 2: happens is you know, there are consistent price fluctuations and
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  Speaker 2: pharmacies warned access to you to information. The other thing
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  Speaker 2: that you mentioned that you that we most people don't
• 7:08
  Speaker 2: realize as the staff shortage is So what happens in
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  Speaker 2: a pharmacy is all these things are compounded into.
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  Speaker 5: A variety of issues.
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  Speaker 2: I mean, when they're filling prescriptions, they need to know
• 7:18
  Speaker 2: their inventory, they want to know the price. Has the
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  Speaker 2: price fluctuated in the day, I need to order this,
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  Speaker 2: Have I met my minimum here?
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  Speaker 5: Whatever?
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  Speaker 2: So what happens is they're glued into the pharmacy management
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  Speaker 2: system all day long, but when they are making these decisions,
• 7:34
  Speaker 2: they are in and out of the system. So on
• 7:38
  Speaker 2: already a stressful environment, it adds more stress because they
• 7:43
  Speaker 2: are doing all these things right. So, yes, David is
• 7:46
  Speaker 2: certainly right, like there's a lot of advantages in the
• 7:49
  Speaker 2: market does provide that, but the integration of bringing this
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  Speaker 2: market experience, of purchasing experience and decision making experience into
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  Speaker 2: the pharmacy.
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  Speaker 5: Workflow is where the integration really.
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  Speaker 2: Helps reduce a lot of that, right, And this is
• 8:06
  Speaker 2: where the stress amongst employees, et cetera is reduce. What
• 8:09
  Speaker 2: happens is if the environment is nice and conducive to working,
• 8:13
  Speaker 2: the working conditions are conducive to making decisions, and they
• 8:17
  Speaker 2: don't have to flip between screens and make all these decisions,
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  Speaker 2: then you will see that employees tend to stay stay longer.
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  Speaker 5: In the pharmacy.
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  Speaker 2: I mean, like that's where the staff shortages and everything happens.
• 8:31
  Speaker 2: You see, we are behind computers all day long. Why
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  Speaker 2: is it that we get exhausted towards the end of
• 8:38
  Speaker 2: the day. It's not as if I'm running or I'm
• 8:40
  Speaker 2: sprinting or I'm out on the field all day. But
• 8:43
  Speaker 2: what tires us out is this making decisions on a
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  Speaker 2: daily basis. Now, if you look into the life of pharmacies,
• 8:50
  Speaker 2: they are doing this hundreds and hundreds of times through
• 8:54
  Speaker 2: the day. You add to the stress of purchasing and
• 8:57
  Speaker 2: ordering from other systems and then jumping back into the
• 9:00
  Speaker 2: This is where some of the farmcies just throw their
• 9:03
  Speaker 2: tunnel and say, you know what, let's just I know
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  Speaker 2: that I can probably save money.
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  Speaker 5: By doing searches over here versus there, but like I
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  Speaker 5: just don't have the bandwidth to make these decisions. This
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  Speaker 5: is where the integration helps.
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  Speaker 2: The market by itself is a beautiful thing, but bringing
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  Speaker 2: this into the workflow adds so much more effectiveness. Right,
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  Speaker 2: So that's that's why this when you said about the
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  Speaker 2: staff shortages and traffs and these decisions and the integration,
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  Speaker 2: and then now you just spoke about cloud and enterprise.
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  Speaker 2: These are our pharmacy management system platforms that serve pharmacies.
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  Speaker 2: We have incorporated all these things into the pharmacy work right,
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  Speaker 2: So David can certainly talk more about the advantages of
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  Speaker 2: why why the market helps, but like bringing this into
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  Speaker 2: the pharmacy workflow just lessons that rub onto the day
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  Speaker 2: to day life of the pharmacists.
• 9:55
  Speaker 6: Yeah, those are great points, Katon, and I'll just say
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  Speaker 6: it is as well from my standpoint as a pharmacist
• 10:02
  Speaker 6: myself as well. It's you know, no pharmacists went to
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  Speaker 6: school to learn how to make purchasing decisions and manage
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  Speaker 6: primary agreements and make sure they hit you know, purchase
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  Speaker 6: thresholds and GCR compliance to get maximize their rebates. Pharmacists
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  Speaker 6: have to make hundreds and hundreds of decisions a day,
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  Speaker 6: and the important decisions that they should be focused on
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  Speaker 6: are the ones that impact the patient's.
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  Speaker 4: Health that that they're serving.
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  Speaker 6: And so, yes, the feedback that Caden provided is exactly
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  Speaker 6: what we hear from from our customers all day every
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  Speaker 6: day when we talk to them about, you know, missed
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  Speaker 6: opportunities where they could have saved more buying on the
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  Speaker 6: market or not using the market at all and just
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  Speaker 6: relying on the traditional buying from one source because it
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  Speaker 6: is easier, it takes some of the decision point out
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  Speaker 6: of your hands.
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  Speaker 5: But we have.
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  Speaker 4: Pharmacies that are saving.
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  Speaker 6: Tends, some even over one hundred thousand dollars per month
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  Speaker 6: on the cost of goods by purchasing in a competitive environment.
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  Speaker 6: So realizing that we can't rely on a pharmacist or
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  Speaker 6: a pharmacy technician to leave workflow and go perform a
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  Speaker 6: search on our site for every single drug they need
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  Speaker 6: to buy, it's just really too time consuming. We've brought
• 11:22
  Speaker 6: that entire experience directly into workflow, and it's not just
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  Speaker 6: a search bar in workflow that you can type in
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  Speaker 6: a drug and go look for. It's all completely automated
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  Speaker 6: and done for you behind the scenes. So as you're
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  Speaker 6: filling a prescription and moving from step to step, whether
• 11:37
  Speaker 6: you're at you know, our X entry or you're editing
• 11:41
  Speaker 6: the drug, or you're in a verification step for a
• 11:44
  Speaker 6: pharmacist or reviewing adjudication responses, the different touch points that
• 11:51
  Speaker 6: you're working on a prescription. Throughout the day, we're going
• 11:54
  Speaker 6: to show you live real time data what the best
• 11:58
  Speaker 6: price available on the market is for the particular drug
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  Speaker 6: that you're.
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  Speaker 4: Working on right now, and then we give you a one.
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  Speaker 6: Click access to drop that product directly into your basket
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  Speaker 6: on our marketplace. And so then throughout the day, rather
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  Speaker 6: than thinking about how much am I going to pay
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  Speaker 6: for this drug?
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  Speaker 4: Where am I going to buy it?
• 12:20
  Speaker 6: You know, searching on five different sites to try to
• 12:23
  Speaker 6: try to find the best price for the product that
• 12:25
  Speaker 6: you're dispensing, we're going to show you what the best
• 12:28
  Speaker 6: price available is for the NDC that you're filling now.
• 12:32
  Speaker 6: And if there's an alternative NDC that is available at
• 12:35
  Speaker 6: a lower price, we're going to let you know that
• 12:37
  Speaker 6: as well. So if you want to make a decision about,
• 12:40
  Speaker 6: you know, purchasing the same drug from a different supplier
• 12:43
  Speaker 6: at a better price, we put the decision in your hands,
• 12:48
  Speaker 6: and we do it in a way that you don't
• 12:49
  Speaker 6: You don't have to think and shop. We're just showing
• 12:51
  Speaker 6: you the best price available. If you want it, you
• 12:54
  Speaker 6: take advantage of it.
• 12:56
  Speaker 1: Love it kind of open up into some of the
• 13:00
  Speaker 1: internal benefits where you're bringing forty plus organizations together into
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  Speaker 1: this marketplace and with that kind of access makes a
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  Speaker 1: lot of efficiency. So kind of share that with our listeners.
• 13:14
  Speaker 4: Yeah, it does.
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  Speaker 6: You know you're not and I think as users start
• 13:17
  Speaker 6: to see this live in our workflow day to day,
• 13:22
  Speaker 6: you'll see that. You know, it's not one supplier that's
• 13:25
  Speaker 6: always providing the best price on every drug. So just
• 13:29
  Speaker 6: like you know you're not always getting the best price
• 13:31
  Speaker 6: from your primary wholesaler, you're not always going to get
• 13:34
  Speaker 6: the best price from any of the wholesalers on primarx market.
• 13:37
  Speaker 6: But when you shop across forty five or forty six suppliers,
• 13:42
  Speaker 6: then you're going to get the best price out of
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  Speaker 6: a much larger pool of available suppliers. And you know,
• 13:49
  Speaker 6: really interestingly, we did some analysis a couple of weeks
• 13:52
  Speaker 6: ago just looking at all of the products that are
• 13:54
  Speaker 6: available on the market and comparing those to the products
• 13:59
  Speaker 6: available on the primary wholesaler pricing that comes in and
• 14:06
  Speaker 6: we have across all of our products an average savings
• 14:10
  Speaker 6: of forty five percent off of the list price in
• 14:14
  Speaker 6: the primary holes. That's coming in from from the primary wholesaler.
• 14:17
  Speaker 6: So I mean, who doesn't want to save forty five
• 14:20
  Speaker 6: on average upfront immediate, there's no waiting on rebates.
• 14:25
  Speaker 4: It's just you pay less.
• 14:27
  Speaker 6: Right now and we show you what your best price
• 14:29
  Speaker 6: is immediately.
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  Speaker 4: Exactly exactly. I love it.
• 14:34
  Speaker 1: So we're talking about real time price comparisons, the smart
• 14:38
  Speaker 1: NDC recommendations, supplier diversification. There's also a savings involved in
• 14:46
  Speaker 1: this because of the access. Talk about some of that
• 14:50
  Speaker 1: as well, and then that impact to revenue and cash flow.
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  Speaker 6: I mean, I would say, what farm the owner wouldn't
• 15:01
  Speaker 6: like ten thousand, twenty thousand and eighty thousand dollars in monthly,
• 15:06
  Speaker 6: not annual, but monthly savings on their inventory costs. You know,
• 15:11
  Speaker 6: your inventory and your payroll by far your two largest expenses.
• 15:16
  Speaker 4: On and operating a pharmacy.
• 15:19
  Speaker 6: You're your payroll expense is relatively fixed.
• 15:24
  Speaker 4: You can operate as lean as you want.
• 15:27
  Speaker 6: And you know, instead of hiring that third or fourth
• 15:30
  Speaker 6: pharmacy technician, try to run with one or two and
• 15:34
  Speaker 6: fill as many scripts as you can with as little
• 15:36
  Speaker 6: help as possible. That's sort of been the go to
• 15:38
  Speaker 6: model for pharmacy for many years, and it's it's exhausting.
• 15:42
  Speaker 6: You compound that on top of all the decision points
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  Speaker 6: that Caden mentioned earlier, the mental drain that it costs
• 15:48
  Speaker 6: causes when you know a pharmacist is having to be
• 15:51
  Speaker 6: a purchasing manager and perform significant amounts of pharmacy technician
• 15:56
  Speaker 6: duties just to try to.
• 15:57
  Speaker 4: Keep payroll tight.
• 15:59
  Speaker 6: I mean, you could easily hire more staff with the
• 16:03
  Speaker 6: savings that you can realize very easily on the market.
• 16:08
  Speaker 5: And this problem actually compounds.
• 16:10
  Speaker 2: I mean, you talk about doing this in one pharmacy,
• 16:14
  Speaker 2: and possible that the owner savvy and understands his purchasing
• 16:18
  Speaker 2: and he can do this. Now, from our experience, we
• 16:21
  Speaker 2: have seen that we have more multiple pharmacy owners rather
• 16:25
  Speaker 2: than individual pharmacy owners. So as they keep on increasing
• 16:29
  Speaker 2: their business by opening up more pharmacies to serve the patients,
• 16:33
  Speaker 2: the process of ordering becomes more conbute. They start depending
• 16:37
  Speaker 2: on personnel rather than data. They start depending on just like, Okay,
• 16:43
  Speaker 2: you know I need you to order from here. I
• 16:45
  Speaker 2: need you to order from here, et cetera. And then
• 16:47
  Speaker 2: as their organization grows, the ordering process in a lot
• 16:52
  Speaker 2: of senses sometimes becomes less intelligent.
• 16:54
  Speaker 5: And the moment you start adding more.
• 16:58
  Speaker 2: Volume to your pharmacies, like recently right Aid, your tons
• 17:03
  Speaker 2: of right aids closed. Right, so all these prescriptions are
• 17:05
  Speaker 2: now coming on to the independence and patients are coming
• 17:09
  Speaker 2: on too independence, so we are seeing that they are
• 17:13
  Speaker 2: filling more prescriptions. So the decision making a process of
• 17:17
  Speaker 2: purchasing sometimes takes a secondary step. And if you think
• 17:22
  Speaker 2: about the business of pharmacy, it's really nothing else but
• 17:26
  Speaker 2: purchasing a DRUP and getting it out of the patients.
• 17:28
  Speaker 2: Of course they are clinical data, etc. But the moment,
• 17:32
  Speaker 2: because of this conflux of additional business, the moment this
• 17:37
  Speaker 2: takes a secondary step, then this hits your water mile.
• 17:40
  Speaker 2: So you don't think about it, but it's really very subtle,
• 17:43
  Speaker 2: but at some point in time it starts doing into
• 17:45
  Speaker 2: your profit. Which is why bringing this into the workflow
• 17:50
  Speaker 2: and then having a data based decision rather than just
• 17:55
  Speaker 2: like okay, you know it's cut off time.
• 17:57
  Speaker 5: I just need to do this and then make it.
• 17:59
  Speaker 2: Tactical, it should be more strategic, right, So that's what
• 18:01
  Speaker 2: David is talking about.
• 18:02
  Speaker 5: But it helps to do that.
• 18:04
  Speaker 1: David, there's another part to this, and that's the workflow
• 18:07
  Speaker 1: and action that's tying it into the pharmacy management system.
• 18:11
  Speaker 1: And there's no steps lost. There's like we said, you
• 18:14
  Speaker 1: don't have to log into a brand new system. So
• 18:16
  Speaker 1: talk to us about some of that, the full purchasing cycle.
• 18:20
  Speaker 1: Obviously no additional cost. Talk to us about that workflow.
• 18:26
  Speaker 4: Yeah, the workflow is super simple.
• 18:27
  Speaker 6: Like I said, you you know, just from the moment
• 18:30
  Speaker 6: you initiate work on a prescription, as soon as you
• 18:35
  Speaker 6: have selected the drug and start working. If you're filling
• 18:38
  Speaker 6: you know, like centerpril ten milligrams for a patient, all
• 18:43
  Speaker 6: of a sudden, we're going to do a search in
• 18:44
  Speaker 6: the background and show you in workflow what the best
• 18:48
  Speaker 6: price for li centerpril ten milligrams is on the market
• 18:51
  Speaker 6: right now. So yeah, I mean, just think about that
• 18:56
  Speaker 6: piece on its own and how you would get to
• 18:59
  Speaker 6: that in a non integrated environment. That's you. You know,
• 19:02
  Speaker 6: you've still got to fill the Life centerpril script. But
• 19:04
  Speaker 6: then you've got to leave workflow. In our scenario, you
• 19:08
  Speaker 6: come over to the market, you log in, you type
• 19:10
  Speaker 6: in life centerpril or you copy and paste the NBC,
• 19:14
  Speaker 6: you do a search, and we make it super easy
• 19:17
  Speaker 6: from there, but it's still it's manual work. You're leaving workflow,
• 19:21
  Speaker 6: you've stopped thinking about the prescription that you're filling and
• 19:24
  Speaker 6: you've started, you've moved into procurement mode, and you've left
• 19:28
  Speaker 6: workflow and gone somewhere else to handle that. We take
• 19:32
  Speaker 6: the thinking out of it, we take the searching out
• 19:34
  Speaker 6: of it, we take the swiveling to another screen out
• 19:37
  Speaker 6: of it.
• 19:38
  Speaker 4: It's all right there, it's in your face.
• 19:40
  Speaker 6: It's it's going to be sort of hard to ignore almost,
• 19:44
  Speaker 6: and that's that's by design. We want to surface savings
• 19:49
  Speaker 6: to our customers immediately and provide that value without the
• 19:53
  Speaker 6: complexity it takes to get to it. Today, I think
• 19:57
  Speaker 6: all of that just leads to savings.
• 19:59
  Speaker 5: Right.
• 19:59
  Speaker 4: It's your text filling more scripts per hour.
• 20:02
  Speaker 6: It's your pharmacist spending more time delivering patient care or
• 20:06
  Speaker 6: giving it flu shot or whatever it is that you
• 20:08
  Speaker 6: can use, you know, your resources to drive additional revenue
• 20:12
  Speaker 6: rather than thinking about.
• 20:13
  Speaker 4: How you're going to save on your purchases.
• 20:16
  Speaker 5: And this is not just built in as an integration.
• 20:19
  Speaker 2: That means we are providing even cutoff time reminders in
• 20:22
  Speaker 2: the pharmacy management system. As I said Dane, in day out,
• 20:25
  Speaker 2: you're looking at the pharmacy amagement system more than sometimes
• 20:28
  Speaker 2: you're looking at your own family.
• 20:29
  Speaker 5: Right. So if your eyes are.
• 20:31
  Speaker 2: Glued in over here and you are filling prescriptions day
• 20:34
  Speaker 2: in and day out, let's say a cutoff time to
• 20:36
  Speaker 2: order is five pm. Depending on the configuration, half an hour,
• 20:40
  Speaker 2: forty five minutes, one hour, the system will remind you
• 20:43
  Speaker 2: that hates your cutoff time.
• 20:44
  Speaker 5: So what happens is through the day every.
• 20:47
  Speaker 2: Pharmacy does not matter what kind of pharmacy you are.
• 20:49
  Speaker 2: You have standard steps, you have data entry adjudication, drug
• 20:53
  Speaker 2: pick verification, farmacist verification, and so on and so forth.
• 20:57
  Speaker 5: This ability to order.
• 21:00
  Speaker 2: Look at your current cost, look at your current inventory,
• 21:03
  Speaker 2: Look at what is the cheapest available price in them
• 21:06
  Speaker 2: on the on the market. If you have already started
• 21:09
  Speaker 2: a card, we do intelligent comparison to say, hey, does
• 21:13
  Speaker 2: it make sense to maybe there's a drug from your
• 21:18
  Speaker 2: supplier who you started a card with that may be
• 21:21
  Speaker 2: slightly more expensive, but if you do use that you
• 21:24
  Speaker 2: may be able to meet your minimum and avoid shipping calls.
• 21:27
  Speaker 2: These These are kind of decisions that actually happen through
• 21:30
  Speaker 2: the workflow, right, So we are making the the ability
• 21:34
  Speaker 2: for you to simply do a couple of clicks through
• 21:37
  Speaker 2: the day depending on your stock, and then towards your
• 21:40
  Speaker 2: cutoff time you go to the market, you look at
• 21:42
  Speaker 2: the orders that have a cure or the items that
• 21:45
  Speaker 2: have accumulated through the whole day. If you need to
• 21:47
  Speaker 2: make changes, you make changes at the way simply click
• 21:49
  Speaker 2: a button check out. That's all that is to it, right, So.
• 21:54
  Speaker 4: Great, I love this.
• 21:55
  Speaker 1: I love the profitability factor, the ease factor, the workflow factor.
• 22:04
  Speaker 1: It just it helps the entire operation as well as
• 22:07
  Speaker 1: the profitability. I do want to get some final thoughts
• 22:12
  Speaker 1: from David, and that is I kind of want you
• 22:15
  Speaker 1: to give an example of how many steps it might
• 22:18
  Speaker 1: take and some of the scenarios that we know that
• 22:22
  Speaker 1: pharmacy operators are going through with the status quo without
• 22:27
  Speaker 1: really implementing. And then a shout out to people listening.
• 22:31
  Speaker 1: We want to make sure that you know where to
• 22:33
  Speaker 1: go primarx dot io Ford slash Market. Once again, that's
• 22:37
  Speaker 1: primarx dot io Forward slash Market. Take a look for yourself.
• 22:42
  Speaker 1: But David, give us a rundown of the status quo
• 22:45
  Speaker 1: compared to this scenario.
• 22:48
  Speaker 6: Yeah, I think the easiest I find that in retail
• 22:53
  Speaker 6: pharmacy in general, because of all of the demands on
• 22:58
  Speaker 6: a pharmacist's time, when a technician's time, i'm the complexities
• 23:02
  Speaker 6: of workflow, A lot of things tend to default to
• 23:07
  Speaker 6: the path of lease resistance. So what's the easiest way
• 23:10
  Speaker 6: to order my drugs? More so than what's the most
• 23:14
  Speaker 6: cost effective way of ordering my drugs?
• 23:17
  Speaker 4: So you know, the easiest way.
• 23:18
  Speaker 6: To do that is if you've got an agreement with
• 23:20
  Speaker 6: a primary wholesaler, you just order everything from your primary wholesaler.
• 23:25
  Speaker 6: But in a capitalist society where competition drives price down,
• 23:29
  Speaker 6: that is sort of anathema to the way most business
• 23:33
  Speaker 6: owners and even consumers would operate. Where we like to
• 23:37
  Speaker 6: price shop and comparison shop, and nobody likes overpaying for
• 23:41
  Speaker 6: anything in their daily life. Why would you overpay for
• 23:44
  Speaker 6: your pharmaceuticals? And if you're buying from a single source
• 23:49
  Speaker 6: of the time, you are overpaying for your pharmaceuticals overall period.
• 23:54
  Speaker 6: There's just no two ways about it. So introducing competition
• 23:59
  Speaker 6: is important. Now the middle ground, the status quo now
• 24:03
  Speaker 6: is if you have someone who really wants to spend
• 24:06
  Speaker 6: time and focus on optimizing their cost of goods, that
• 24:09
  Speaker 6: typically means opening up multiple supplier websites outside of workflow,
• 24:14
  Speaker 6: and then going and individually doing searches one drug at
• 24:17
  Speaker 6: a time, numerous times for each drug, throughout the day,
• 24:21
  Speaker 6: building different carts in different places, and then at the
• 24:24
  Speaker 6: end of the day you go and find where are
• 24:26
  Speaker 6: my best savings opportunities and you check out a few
• 24:29
  Speaker 6: different times in a few different places, terribly cumbersome, disjointed,
• 24:33
  Speaker 6: disconnected from workflow, and again taking a pharmacist in particular,
• 24:38
  Speaker 6: away from that clinical experience, that patient care experience, and
• 24:43
  Speaker 6: putting them into the mindset of a procurement manager. So
• 24:48
  Speaker 6: those are the you've got either a cumbersome way to
• 24:51
  Speaker 6: shop better or you've got an easy way to overpay.
• 24:55
  Speaker 6: And what we've done now is created an easy way
• 24:58
  Speaker 6: to get the best price period you don't have to think. So,
• 25:02
  Speaker 6: you know, for those for those folks who want to
• 25:05
  Speaker 6: default to the path of lease resistance, if you want
• 25:07
  Speaker 6: to implement a strategy where you can ensure that all
• 25:12
  Speaker 6: of your staff knows how to optimize what you spend
• 25:17
  Speaker 6: on your drugs, I would say default to buying the
• 25:20
  Speaker 6: cheapest product you can buy when we show you what
• 25:23
  Speaker 6: that price is and if that's if that's on the market, great,
• 25:26
  Speaker 6: if you have a better price available from your primary wholesaler,
• 25:31
  Speaker 6: We're not discouraging you from from buying.
• 25:34
  Speaker 4: We're here to tell you we want you.
• 25:35
  Speaker 6: To optimize your costs and we know we're better in
• 25:40
  Speaker 6: the vast majority of cases.
• 25:42
  Speaker 4: But we're not encouraging.
• 25:44
  Speaker 6: You to to do anything that doesn't make the most
• 25:47
  Speaker 6: sense for you as a business owner and operator. We're
• 25:50
  Speaker 6: giving you a tool that we think is a game changer,
• 25:53
  Speaker 6: and we'd really like for you to take advantage because
• 25:56
  Speaker 6: we know we know that if you save what we
• 25:59
  Speaker 6: know you can save, we know that you as an
• 26:02
  Speaker 6: operator will invest that back into your business. And we
• 26:06
  Speaker 6: know when pharmacies are thriving and investing in growing the
• 26:09
  Speaker 6: care that they can provide, then our communities, the health
• 26:13
  Speaker 6: of our patients that we serve are all lifted as well.
• 26:17
  Speaker 1: Absolutely, Hey, Caden and David, this has been a wonderful
• 26:23
  Speaker 1: conversation and really appreciate you both sharing and digging into
• 26:28
  Speaker 1: the market in marketplace. More importantly, the new integration to
• 26:32
  Speaker 1: the primary X systems. I'm also excited to once again
• 26:36
  Speaker 1: announce the explore by Primarx event, the primary X User
• 26:40
  Speaker 1: Conference twenty twenty five, October tenth through eleventh at the
• 26:45
  Speaker 1: Western Jersey City Newport. Definitely subscribe if you are a user,
• 26:53
  Speaker 1: you don't want to miss this event. Also, David, you're
• 26:55
  Speaker 1: going to be going through the market system there as well,
• 26:59
  Speaker 1: right I will.
• 27:00
  Speaker 4: We'll do a full hands on session.
• 27:02
  Speaker 6: We'll show you everything start to finish about the market
• 27:04
  Speaker 6: side itself. We'll show you the integration with both the
• 27:08
  Speaker 6: cloud and enterprise pharmacy management system products, and then we'll
• 27:13
  Speaker 6: have an open discussion with pharmacy owners and operators about
• 27:16
  Speaker 6: maximizing the use of this tool and all of the
• 27:20
  Speaker 6: savings that they're enjoying by using it.
• 27:24
  Speaker 1: Terrific. I am excited to hear more about it. I
• 27:27
  Speaker 1: also want to let everyone know listening. If you want
• 27:30
  Speaker 1: to listen to all of the podcasts that have come
• 27:34
  Speaker 1: from the primary x team, some of their testimonies, some
• 27:37
  Speaker 1: of their directions, you can go to primarx dot Io
• 27:41
  Speaker 1: Forward Slash Podcast once again, that's prime rx dot Io
• 27:46
  Speaker 1: Forward Slash Podcast. Gentlemen, this has been a really good
• 27:50
  Speaker 1: time sharing and appreciate both of your insights.
• 27:53
  Speaker 4: Thanks for having us, Thanks to thank you.
• 27:56
  Speaker 1: You've been listening to the Pharmacy podcast Tech Trends, part
• 28:00
  Speaker 1: of the prime RX Enterprise, prescribing knowledge, dispensing wisdom in
• 28:05
  Speaker 1: every episode. We'll talk to you and listen to us
• 28:08
  Speaker 1: next time here on the Pharmacy Podcast Network.
• 28:11
  Speaker 5: All right,