Overview

Independent pharmacies have been declining steadily over the last few years. To say the future of the independent pharmacy is bleak is an understatement. The little data we do have states that we are operating pharmacies on an average 3% net profit; gross margin has been relatively flat but may decrease in the future due to DIR fees and below cost reimbursement. Increased minimum wages and increased money spent to comply with increased regulation also affect the bottom line. The percent of pharmacies operating at a loss from 2005 to 2010 increased from 14% to 23% (NCPA The Voice of the Community Pharmacist). This does not leave us with the luxury of making ANY bad decisions for our business. RxMatrix exists to elevate independent pharmacy owners to higher levels of profitability and sustainability through creation of a gold standard benchmark. We do this by collecting and analyzing pharmacy financial data so the owner can utilize the data to know industry standards and make data driven decisions. This data empowers independent pharmacy owners and aims to assist them in negotiating rebates and cost of goods with buying groups and wholesalers. RxMatrix will ultimately increase the net profit for ALL independent pharmacies because DATA IS KING! Currently there are select pharmacies that average a net profit of 6-8%. So, what are those pharmacies doing to stay above the majority? This is the question we at RxMatrix aim to help your pharmacy solve. Our vision is to provide valuable market data to help you improve your bottom line—ultimately saving our industry and preventing the number of independents closing their doors year after year. We ask for your data for the greater good of the pharmacy industry. Why? Because DATA IS KING! Help us unite to compile data and help you become a leader in the industry. We will be your benchmarking gold standard in the pharmacy industry today. It is time for a change in the right direction!