A Bitter Pill
In prior Newsletters, we’ve emphasized the importance of knowing your vendors’ capabilities. This month, we take a little deeper dive, exploring a specific category of spend: Pharmacy.
Expense Consulting has negotiated dozens of pharmacy contracts spanning multiple states, pharmacies and clients. In doing so, we have learned that while a pill may be a pill from one pharmacy to the next, the attention level that a pharmacy provides can vary and have a direct impact on the well-being of your patients and your financial health.
Ensuring that medications arrive on time, pharmacies play a role in lowering re-admittance rates and relieving the pain and suffering of patients. And by conducting thorough financial reviews regularly, they can work with clinical staff to identify areas of less costly but just as effective treatment. The frequency and level to which these types of reviews occur can vary greatly.
An independent consultant such as Expense Consulting with a wide view of the capabilities of various Pharmacy vendors can help distinguish between true and false promises. Even more, a consultant can help navigate the complex pricing models based on industry indices such as WAC and AWP and discount structures all while ensuring that vendors adhere to their contractual obligations.
Please note that many office supply agreements allow for increases in paper pricing with documented manufacturer increases. In May, paper mills have increased their price to distributors by 6% on average.
Whether you’re working with Expense Consulting or another consultant, we encourage you to hold your consultants accountable. You are the customer, you set the direction, and you should get the outcome that you want. It’s that simple.
EnergyCenter Every business consumes energy. We hope you find this chart useful when benchmarking your energy costs. Please note, Expense Consulting is a licensed utility aggregator, so be sure to contact us for the best possible energy pricing.
About Expense Consulting Expense Consulting is a full-service accounts payable auditing and cost reduction consultancy, helping organizations significantly reduce operating expenses. Since 2009, we've helped hundreds of organizations recover millions of dollars of over-billings and have secured millions of dollars in future cost savings. To learn more about reducing your organization's expenses, contact us at (860) 761-3500.
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