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Are You Missing Out On Better Margins With BuyLine?

Are You Missing Out On Better Margins With BuyLine? by Elements magazine | pbahealth.com


June 15, 2018


Inside: A new secondary pharmaceutical ordering service called BuyLine offers quality, convenience, and ease for independent pharmacies.

After working a 12-hour shift, you’re ready to wind down for the day. The last thing you want to do is pull together a product order.

“Pharmacy staff is overworked these days,” said Clark Balcom, Senior Vice President and COO of PBA Health, an independently owned pharmacy services organization that provides group purchasing services, expert contract negotiations, and distribution services. “When they get to the end of the day, it’s important that they have a fast and hassle-free inventory replenishment solution that takes care of the bottom line and also gets them out the door toward home.”

BuyLine™, a new online secondary pharmaceutical ordering service from PBA Health, makes placing product orders easy. With features like order replication, a frequent purchases listing, and multiple search options, BuyLine streamlines secondary ordering, so you spend less time restocking inventory.

“BuyLine is the fastest, easiest, and most convenient order management solution of its kind,” Balcom said.

Streamlined buying with BuyLine

Besides making ordering fast, BuyLine also offers what pharmacies need: low prices on a full line of products.

That means more than just generics.

You can shop brands, generics, over-the-counter (OTC) products, refrigerated products, and controlled medications (certain qualifications apply) on BuyLine.

“BuyLine is an independent pharmacy-owned and controlled secondary pharmaceutical supplier solution that offers the industry’s lowest pricing on the broadest line of brand and generic pharmaceuticals,” Balcom said.

Earning loyalty rewards

Similar to earning airline miles or accumulating rewards points on credit cards, BuyLine offers loyalty rewards points on generic pharmaceutical purchases.

“BuyLine seeks to deliver the full benefits of pricing as upfront, off-invoice, discounts,” Balcom said. “However, it also rewards pharmacies with variable rewards points on each qualified purchase. These rewards points are additional savings that accumulate similar to dollars and can be applied at checkout on future purchases.”

Every time you log in, you’ll see your accumulated loyalty rewards points right away. You can easily apply them during checkout whenever you choose.

Easy online shopping

You don’t have to wait for phone calls or use clunky faxes to order product. BuyLine features a modern, up-to-date website where you can easily order pharmaceuticals like you would order products on a personal shopping website.

After creating an account, the website is available 24 hours a day, seven days a week for you to place product orders. Orders are fulfilled during business hours.

A focus on quality

Not all secondary distributors are created equal. Especially when it comes to quality.

“There are ‘fly by night’ secondary suppliers popping up every day,” Balcom said. “Many of them are operated by people with an equity interest beyond that of the pharmacies. With the acceleration of wholesaler consolidation, we believe it will be increasingly important for independent pharmacies to have complementary solutions that are controlled by independent pharmacies for the sole benefit of independent pharmacies.”

Pharmacies today often feel pressured to compromise quality and safety to address depressed margins and overworked staff, Balcom said. “But pharmacies can never forget that we are in the business of health care. Therefore, quality and safety remain paramount.”

BuyLine has the credentials pharmacies can trust. All BuyLine products are sourced solely and exclusively from original manufacturers and supplied to pharmacies through PBA Health’s VAWD-certified facilities.

Finding the balance

With years of contract negotiation experience with primary wholesalers on behalf of independent pharmacies, Balcom recognizes that pharmacies must manage a careful balance between buying from their primary wholesaler and secondary sources.

“By offering industry-leading generic pricing, BuyLine provides pharmacies the opportunity to directly improve savings,” he said.

“And by offering brand pharmaceuticals, BuyLine also provides pharmacies with an opportunity to improve overall profit margin by achieving higher levels of generic compliance. And, therefore, higher levels of financial incentives with their primary wholesaler contracts.”

Balcom said pharmacies should carefully evaluate how to use secondary suppliers as part of their overall buying strategy if they want to significantly increase margins. They need to consider purchases made through the secondary supplier and purchases made through the pharmacy’s primary wholesaler relationship.

“To do this, a pharmacy truly needs to consider the breadth and type of product lines available and how an appropriate use of those lines results in an overall increase in financial performance,” he said.

Balcom said PBA Health is available to provide guidance to pharmacies on how to handle that balance. “With a little guidance on how to properly use BuyLine within the pharmacy’s primary wholesaler relationship, pharmacies end up saving time and money.”

Independents for independents

Independent pharmacies today want to support other independent businesses. But independent supplier options have seriously diminished in recent years. BuyLine is one of the few secondary supply options out there that’s still independently owned.

“Pharmacies should consider the equity and control structure of the secondary supplier solution,” Balcom said. “BuyLine is an independent pharmacy solution and has no external equity holders. It is designed solely for the benefit of the independent pharmacies it serves.”

“BuyLine brings independent pharmacies the balance of a broad line of products, industry leading prices, quality and safety, and the added assurance of no external equity holders. It is the only solution that offers independent pharmacies all the above today.”

Learn more about BuyLine.


 

Shopping Secondaries

Independent pharmacies need to do their research before shopping a secondary distributor. “The quality, safety, and integrity of the supplier should always come first,” said Clark Balcom, Senior Vice President and COO of PBA Health. He recommends pharmacies ask these questions as they consider a secondary supplier.

 


 

Feature to Know About BuyLine

BuyLine™, a new online secondary pharmaceutical ordering service from PBA Health, has the convenient features you’ve been looking for.

Easy online shopping

Shop any time on the intuitive, easy-to-use website.

Everyday low prices

BuyLine offers competitive prices on a full line of products and regularly updates pricing to reflect market changes and trends.

Full line of products

BuyLine offers brands, generics, over-the-counter (OTC) products, refrigerated products, and controlled medications (certain qualifications apply.)

Loyalty rewards points

Includes a loyalty rewards program to earn points on generics purchases. Redeem the points on any future orders.

Live chat

Have a question? Use BuyLine’s live chat feature when shopping to get your questions answered—fast.


 

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