Cash pricing is one of a limited number of variables that a pharmacy can control, and it represents a significant opportunity for growth in the pharmacy space.
DALLAS (PRWEB) June 05, 2019
OmniSYS, a technology company focused on innovative solutions for the retail pharmacy industry, announced today that it has acquired Rx-Net and its automated pricing solution, ProfitMax.
ProfitMax provides a fully-automated, single interface, multi-location prescription price management solution for retail pharmacies. By taking into account customer-specific pricing goals, third-party reimbursement and a combination of market-based data sources, ProfitMax automatically helps set and adjust a pharmacy’s usual and customary (U&C) pricing so that they can maximize reimbursement while maintaining competitive and profitable prices for cash-paying customers.
“Pharmacies are under extreme pressure to improve their financial performance. Although cash customers typically make up less than 10 percent of a pharmacy’s prescriptions, they can account for 25 percent or more of a pharmacy’s margins. Using market intelligence and proven, proprietary analytics, ProfitMax not only helps automate the price management process, but it also improves a pharmacy’s performance by ensuring that their drug prices are both competitive and profitable,” said John King, OmniSYS chief executive officer. “Cash pricing is one of a limited number of variables that a pharmacy can control, and it represents a significant opportunity for growth in the pharmacy space. Rx-Net’s proven ability to drive value to both pharmacies and their customers through ProfitMax is why we are so excited to welcome them to the OmniSYS family.”
Rx-Net manages an annual prescription volume of over $4 billion, with customers in all 50 states. Their automated pricing solution is integrated with most pharmacy management system vendors, allowing pricing information to be accessed from a pharmacist’s existing workflow.
Key personnel from Rx-Net are expected to remain with the company to help facilitate the integration with OmniSYS and ensure a seamless transition for existing customers.
OmniSYS is a technology company that helps pharmacies and pharmaceutical manufacturers drive growth by engaging patients, competing on value and distinguishing their brands. With over 25 years of experience, we leverage our unique market insight, pharmacy workflow expertise and extensive industry knowledge to deliver valuable solutions to our customers. We provide medical billing, immunization services and patient communication solutions for pharmacies and consumer engagement programs for pharmaceutical manufacturers that drive value and deliver real results. OmniSYS currently serves over 25,000 pharmacies, connects to hundreds of payers and touches millions of patient lives.