The biggest benefits Meaghers experienced were speed, transparency and revenue. By receiving consistent and accurate data, their management team were able to see potential in their data. As a business with a strong retail presence, Meaghers felt the biggest revenue benefit on that side of the business.
Our reports also enabled Meaghers to maximise both elements of margin – procurement margin and fees. The biggest margin impact was seen in dispensary procurement, where being able to do a deep dive into dispensing meant that negotiations at molecule level with suppliers were more effective, resulting in increased procurement margins. Over the first 3 years using RWA Pharmacy's solutions, Meaghers have increased the number of preferred generics dispensed per 100 items by almost 10%.
Now for the detail...
Like many Irish pharmacies, Meaghers were using multiple systems for their data. They had an EPos system for retail sales, a procurement system for orders and another system for retail orders. They were wasting valuable time running manual spreadsheets which was highly labour intensive. Human errors and staff absences were affecting the availability and accuracy of their data.
They were a strong retail business and knew they could grow further in this area. They were searching for a solution that would extract and collate key data and present them back to management teams.
RWA reports were created and implemented to focus on areas of strength for Meaghers, for growing revenue and maximising profitability. Key reports that help with this are:
"RWA Pharmacy has enabled us to find a multitude of needles in a haystack and we can find what is really important in our business.
I cannot imagine running the business without RWA Pharmacy anymore, it would just be impossible. It has really allowed us to work much smarter in Meaghers rather than harder"
"The people at RWA Pharmacy are much more like partners, they are like an extension of our business. I've always found the team incredibly curious, incredibly open, and incredibly agile, so there's never been anything we've asked for that hasn't been embraced or taken onboard and delivered upon."
"By using RWA Pharmacy and the data, and having that transparency has allowed us, without making any improvements in terms of driving revenue or additional business, to get so much more profitability."
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