How You Can Save Thousands with Pharmacy Select (RTL2)

Pharmacy Select is the industry’s most comprehensive backup contract for pharmacy owners, Pharmacy Select offers significant cost savings on generic and brand-name drugs, OTC products, and more. Pharmacy Select provides invoice-level discounts and quarterly rebates that can save IPC members thousands of dollars annually.

The program is designed as a complement to the McKesson OneStop generics program. Pharmacy Select offers thousands of generic medications often at a significant discount to other drugs available on the market. This unique program makes Pharmacy Select an essential tool for IPC Members looking to reduce acquisition costs while maintaining inventory flexibility and adding to primary wholesaler compliance.

Pharmacy Select extends beyond generics to include certain brand-name drugs, diabetic testing supplies, Vaccines, OTC products, and COVID/Flu testing kits. This evolution makes it an excellent solution for you while trying to maximize your savings.

One of the most significant benefits of Pharmacy Select is that purchases count toward your Generic Compliance Ratio (GCR) and Generic Purchase Rate (GPR). Meeting your GCR and GPR can be essential for maintaining contractual obligations and can save you thousands of dollars annually.

• How It Works: Pharmacy Select purchases are included in your GCR calculations, helping you meet compliance requirements while saving money.
• Rebates: In addition to improved GCR compliance, Pharmacy Select offers quarterly rebates from IPC on eligible purchases, providing a steady stream of savings. Login to www.ipcrx.com, select My Account, then Rebates to see the impact on the January 1st statement. Call us for a website tour to ensure all value is realized.

By leveraging Pharmacy Select, you can meet your GCR obligations while also sourcing products from more affordable sources, such as the IPC Warehouse.

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Pharmacy Select sends out weekly communications to members, providing critical updates on cost-saving opportunities. These emails are your guide to maximizing the program’s benefits. Here’s what you’ll find in each communication:

1. Weekly Generic Override Recommendations:
   • These highlight generic products and the discounts available compared to the McKesson OneStop net price counterpart. These discounts average 35% off the OneStop price. If those highlighted are not available in your distribution center, placing an order (sometimes multiple times) with “Do not sub” checked tells McKesson you would like it stocked. Call us for more information.
2. Upcoming Price Increases:
   • The email will notify you of upcoming price increases, giving you time to make purchases at the lower price, adjust your stock or buy alternative products before the increase takes effect. This proactive approach can save you hundreds or even thousands of dollars annually.
3. New Product Additions:
   • Pharmacy Select has thousands of products available under the program and is constantly adding new products and manufactures to the agreement. Stay informed about new products added to Pharmacy Select as they arrive. Early adoption of these products can help you secure inventory and maximize savings.
   • Note: If you have heavy usage of specific items, call IPC, and we will do our best to add it to the program!
4. Special Announcements, Discounts, and Rebates:
   • Pharmacy Select regularly has special discounts and rebate opportunities exclusively available to IPC members. The weekly email is used to showcase these unique products. For example, certain OTC products like Advil now qualify for a 3% rebate under the program. Keep an eye out for additional deals each week.
   • Learn about new products covered under federal or state Medicaid programs, helping you serve more patients while reducing costs.

One of the most important aspects of ordering is knowing when to substitute a Pharmacy Select product. Here’s how to effectively use product substitutions using Pharmacy Select products: (login for recommendations)

• When Ordering a Pharmacy Select Item: You will want to check the “Do Not Sub” box to ensure you receive the discounted Pharmacy Select item instead of the potentially more expensive OneStop item. This tells McKesson to stock Pharmacy Select products in your local distribution center.
• When Ordering OneStop Items: If a OneStop item is at a cheaper price than a Pharmacy Select product and is out of stock, you will want to order that OneStop item and leave the “Do Not Sub” box unchecked. This allows McKesson to substitute the OneStop item with the corresponding Pharmacy Select item at the lower OneStop price, ensuring you still receive the product and at the lower cost.

This simple step can make a significant difference in your bottom line, so it’s crucial to understand how and when to use the “Do Not Sub” option.

Products may not always be available in your local distribution center when you need them; however, by persistently ordering Pharmacy Select items, you can signal demand and prompt them to stock the product in your distribution center.

• How It Works: If a Pharmacy Select item is out of stock, reorder it multiple times. This tells McKesson that there’s demand for the product, increasing the likelihood that they’ll stock it in your area.

Pharmacy Select is a powerful tool exclusively available to IPC Members, offering significant cost savings on generics, brand-name drugs, OTC products, and more. By staying on top of weekly communications you can unlock the program’s full potential. Start maximizing your savings today and see how Pharmacy Select can transform your pharmacy’s bottom line.