These results and the boost to the retail pharmacy group’s bottom line allowed them to reinvest profits which would otherwise have been lost in preventable yet hard to identify ways. Our Business Intelligence make areas of loss clear to pharmacy groups, with actionable insights which could revolutionise your retail pharmacy business.
Now for the detail...
Navigating claims is a challenge for every pharmacy. Without a clear picture of the data, it is nearly impossible to ensure everything is being claimed as it should be. They were struggling with unclaimed scripts which were going unnoticed without reliable and consistent reporting.
They were also experiencing a loss between cash collected and the number of deductions the NHS make on the month FP34. These two areas were adding up to be substantial losses per pharmacy.
Through RWA Pharmacy’s business intelligence solution, we could identify two significant areas of loss for Day Lewis – EPS prescription items and prescription levies losses. We identified that Day Lewis was losing an average of £1,500 per pharmacy per year from these two areas alone! Delivering the right information daily enabled Day Lewis to ensure losses like this were a thing of the past.
By looking at their data, they were able to establish robust procedures internally and ensure that losses were reduced substantially going forward.
“Pharmacy funding is exceptionally tight, and so it is critical that no money is left behind. The clear information from RWA’s Exemption reports and a process we put in place has saved us over £420,000 in losses from Switching. It has also reduced the workload for our people in the branch around this somewhat onerous task, allowing them to focus on patient care.”
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