Brrr, the winter season is upon us and the seasonal increase in patient numbers is starting to be felt.
As a successful dispensing practice, yours would benefit substantially by having the medicine prices on file refreshed right now.
Medicine prices are government regulated via the SEP mechanism. Convenient and time saving, with our medine price update no more worries about incorrect Nappi codes . Stay up to date with the latest.
100% Data integrity. Our data is always accurate, valid and consistent. This ensures that claims won’t get rejected because of using incorrect Nappi codes and you won’t get short paid because of incorrect pricing.
PLUGIN & PLAY
Fully Automated Updates. Our electronic data files can be imported into your practice management software instead of having your staff try to maintain this information manually. This saves time and minimises transcription errors.
The medicine price update contains everything you need to claim for your encounter with the patient. Incorporating consultations, procedures, medicine, materials, Nappi codes, injections, insurance medicals, tele-consulting codes, and much, much more.
Ready to take your dispensing income to the next level?
As a general rule of thumb, revenue from dispensing is equal to that from consultations and procedures. To be noted, profit from dispensing is derived from a dispensing fee markup, pegged by the government via the SEP mechanism - currently 30 percent. You knew that, didn't you?
Your income from cons and procs can only be increased by seeing more patients. But..honestly...who wants to work harder right now?
Before we continue, let's talk some numbers.
Let's say yours is a small-medium dispensing practice turning over R100k per month. Then R50k would be derived from consultations and procedures, while R50k is derived from meds. At 30% markup, that means your profit from dispensing amounts to R15k - per month. Or... 15 percent of total turnover.
Revenue from dispensing can legit be increased by improving your dispensing practices. From procurement, supplier selection, stock management, and then on the billing side, pricing.
Optimal dispensing profit starts with charging meds at the correct prices. This is SEP plus your mandated dispensing markup.
Due so many day-to-day distractions, keeping abreast of SEP is too often neglected at most of the practices I come across. What starts off as good intentions, soon through your busyness, starts to lag, then neglected completely. You'd be amazed how many practices are actually charging less for medicine than the cost prices! And yes, they're losing money. The doctor funding these losses often totally oblivious.
To me, it seems silly that many dispensing practitioners seem content to dispense at a loss. Especially when taking corrective steps is so easy. Don't be one of them.
Get your Winter 2020 Medicine Price Update TODAY
Work smarter, not harder!
All the best,
Fudley Bezuidenhout Pr.Eng.
Get everything you need to return to profitable dispensing.