The Generic Medication Usage Report offers dynamic views to identify your most impactful medications and optimize your ordering for maximum profit. Follow these step-by-step instructions to make the most of this powerful tool.
Step 1: Accessing the Report
Log in to your account on the Phox Dash platform.
Navigate to the Sales section.
Select the Generics from the dropdown list.
Step 2: Setting Date Ranges
Use the date picker to select your desired date range.
Adjust the start and end dates to focus on specific periods of interest.
Step 3: Applying Filters
Click the Phox filter button to access additional filter options.
Select relevant filters to narrow down the data based on your needs (e.g., specific medication categories, locations, etc.).
Step 4: Resetting Filters
To reset all filters and date ranges to their default settings, click the Reset button.
Confirm the reset action if prompted.
Step 5: Analyzing Medication Impact
Review the dynamic breakdown of your location's generic drug usage.
The report will highlight medications organized by highest cost, emphasizing molecules that significantly impact your bottom line.
Step 6: Drilling Down into Specific Medications
Select a specific medication to filter the visualizations to that molecule.
The report will update to provide more detailed and actionable information on the selected medication.
Step 7: Reviewing Monthly Drug Costs
View the monthly drug cost for your location, which is displayed in the report.
Analyze trends and changes in your drug spending over time.
Step 8: Optimizing Purchasing Strategy
If you notice that a filtered molecule is dispensed from multiple manufacturers, consider reviewing your purchasing strategy.
Evaluate commercial terms and negotiate better deals to maximize profits.
Step 9: Evaluating Top Generic Partners
The report includes a breakdown of your location's top generic partners according to spending.
Use this information to identify key partners and assess their impact on your overall costs.
By following these steps, you can effectively utilize the Generic Medication Usage Report to optimize your medication ordering process, reduce costs, and maximize profits.