5 Pharmacy Purchasing Insights & Trends

Thousands of pharmacy professionals use SureCost every day to save. We examined their anonymized data to uncover five unique savings opportunities. Now, we've summarized these findings so that you can download our report. 

Learn how pharmacies are lowering product costs and reducing errors. Our report covers five purchasing trends:

  • Savings Beyond the Top 200
  • Accuracy of Received Goods
  • Vendor Non-Compliance
  • The Cost of Reordering
  • Vendor Substitution Impact

“My team would spend about two or three hours a day to do [purchasing with] all stores. We started seeing ROI immediately with SureCost. The time savings alone were worth it…You’ll save time, which is money, and make everyone more happy, productive and efficient."

— Charles J. Fanaras, President and Owner of The Prescription Center

A Preview of What The Smarter Purchasing Report Uncovered...

1.2
%

Even a small percentage of reorders can have detrimental effects—but for some pharmacies analyzed in this report, the percentage wasn’t even that small.

8.2
%

Substituted items made up 8% of the total items and some pharmacies could pay over $10,000 per year due to vendor substitution.

5.4K
+

0.18% of invoices were higher than the actual amount of goods received, resulting in 5.4K in yearly losses for a pharmacy with an average purchasing volume of $3M.

Savings on COG pie-729A

Savings Beyond the Top 200

65.5% of SureCost users’ savings came from outside the Top 200.

“We can actually shop more aggressively among the top 500, and we use SureCost for everything. I can compare prices in SureCost in my sleep!”

— Wolf Kraus, Director of Purchasing at Speciality Rx

 

 

Read SureCost's New Report

SureCost's Smarter Purchasing Report

Learn how pharmacies are lowering product costs and reducing errors by downloading the report. 

"I usually check SureCost’s 'pricing discrepancy' tab before I even submit the order, so I can report the discrepancy to [the wholesaler] for them to correct everything. I also run a 'missed opportunity' report [in SureCost] daily to see if I bought something that I could've gotten cheaper.”

— Wolf Kraus, Director of Purchasing at Specialty Rx

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