Global healthcare giant McKesson unveiled its new Rapid Returns Solution for Health Systems to address a major pain point for hospitals and healthcare systems — the returns process for unused pharmaceuticals and over-the-counter products.
McKesson’s simplified returns solution can help hospitals and health systems maximize the credit received for the returned products and improve profitability. The offering is powered by Florida-based Pharmalink, founded in 2000.
“Best-in-Class” program
While McKesson has successfully implemented unsaleable returns programs for retail pharmacies for over a decade, the new program is best-in-class, said David Evangelista, senior vice president and general manager, North America Finance Shared Services at McKesson.
“Returns programs have chronically been challenging for health systems to administer and monitor. What we are launching today, reduces administrative burden, streamlines and expedites the returns process, and improves inventory management,” he said in a statement.
How the Rapid Returns Solution works
The Rapid Returns Solution makes it simple to improve credit value based on health systems’ existing McKesson pricing and simplifies reconciliation with detailed statements that have line-item detail, according to the company. McKesson pays for shipping, processing, and destruction.
Safeguarding for safe, responsible handling and the disposal of unused drugs is also part of the program.
Examples of returnable items include:
- Unsaleable controlled substances (II-V)
- Unsaleable pharmaceuticals with six months or less remaining shelf life
- Unsaleable over-the-counter products with three months or less remaining shelf life
- Unsaleable recalled products
Complimentary assessment
Pharmacy leaders can also take advantage of an evaluation of the maturity of their existing unsaleable returns program. The complimentary assessment offers a maturity score, as well as insights for hospitals as they aim to simplify the returns process.
Optimizing amid ever-changing supply and demand
“As the industry evolves, so do we,” Scott Miller, president of McKesson Health Systems said in the statement.
“We’re empowering our customers with the tools to maintain financial viability and better manage inventory—both of which are particularly important as health systems adapt and optimize operations to ever-changing supply and demand associated with the pandemic.”
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