The RxSafe 1800’s complete pharmacy automation solution offers a return on investment that is almost immediate, as well as long-lasting – and it is achieved in a number of ways, from the benefits of the technology to the tax savings afforded by IRS Code Section 179. In the end, it means your pharmacy’s profitability and level of patient care is UP while expenses are DOWN.
How Our Technology Improves Patient Care and Profitability
- Speed and Accuracy
The RxSafe 1800 enables a single pharmacy technician to fill up to 120 scripts per hour. That level of filling speed means less fill labor cost.
“Three months after introducing RxSafe we saw a reduction in technician labor hours of between 200-250 hours per month. This reduction basically covers the cost of the RxSafe.” Joe Romph, Paw Paw Pharmacy
Restocking occurs in expiration date order, automatically. No lost or expired drugs. Inventory is tracked at item-level. Accuracy is unparalleled.
“Our fill-related errors are virtually non-existent since we installed the RxSafe because it’s impossible to put the wrong medication in the prescription bottle.” ~Jana Bennett, The Medicine Shoppe
The bottom line: Less fill labor, more accurate fills, automatic restocking, no searching for lost items = money saved and patient care improved.
- Space Savings
The RxSafe’s design sends a positive visual image to your customers that they are in a state-of-the-art pharmacy. But there’s so much more to it than image. The RxSafe’s compact design holds up to 3,600 stock bottles in only 30 square feet of space in a two-tower system. This means that additional floor space is available for retail and/or work space.
“Space available for us to work in has been increased because storage space for the drugs is all in the RxSafe and that frees up a lot of space around it for us to work. We’ve been able to add a very good will-call system that wasn’t available before because of space constraints.” ~Richard Rasmuson, University Pharmacy
Bottom line: More space used efficiently and for multiple purposes means better patient care and more revenue.
The RxSafe 1800 system delivers a strong visual message to would-be thieves that the drugs in your pharmacy are securely stored.
“We were broken into after we installed the RxSafe and they didn’t get anything. They just looked at the machine and ran by.” ~Chris Williams, Chris’ Pharmacy & Gifts
Even thieves brazen enough to try do not get into the RxSafe.
“Controlled substance security is greatly enhanced with the machine. I was broken into three weeks ago and they didn’t get anything out of the RxSafe.” ~Brian Garner, Hendricks Pharmacy.
The RxSafe 1800 is double key locked. All drugs are biometrically accessed and managers can designate access to particular worker classifications. Every container “touch” is tracked. Reports can be generated at any time, automatically. In fact, the RxSafe 1800 is so secure, it has been approved the U.S. Department of Defense for CII narcotics storage and dispensing.
Bottom line: Deterring prescription drug theft and diversion saves money on lost inventory and insurance costs. It also saves lives, keeping controlled substances out of the wrong hands.
With RxCloud Analytics™, a standard feature with the RxSafe 1800, item-level inventory is tracked in real time, so what needs to be ordered (and when) is exact, requiring less on-hand inventory. Inventory is managed remotely by the system, so inventory tracking occurs no matter the location of the goods, in or out of the safe.
“We introduced the RxSafe 1800 into one of our pharmacies two years ago. That store had a $50,000 decrease, which totals $80,000 in savings and our inventory turns have increased by 6+ turns per year.” ~Jim Clark, Paw Paw Village Pharmacy
Powered by Datarithm, RxCloud Analytics delivers optimized order points and quantity reporting through advanced forecasting. On-hand inventory, surplus inventory, and optimized replenishment points are automatically identified. One feature is the “return to wholesaler” and “store-to-store” transfer recommendations, which result in the avoidance of costly overstocking and expiration waste.
Bottom Line: Less on-hand inventory + no waste from expired drugs = improved patient care and increased profits.
- Tax Savings
IRS Code Section 179 tax deduction has helped small businesses offset the cost of capital equipment for years – and it is applicable to RxSafe technology and equipment. In 2018, the $500,000 purchase/lease price limit afforded by IRS Code Section 179 was increased to $1,000,000.
The IRS Code Section 179 deduction offers a meaningful and almost immediate boost to cash flow, significantly offsetting the purchase price of the equipment. Of course, your accountant is your best source for information specific to your pharmacy, but at RxSafe we can help guide you to some tools and experts to help you learn how the Section 179 applies to our technology and equipment in independent pharmacies like yours. For example, you can use RxSafe’s Section 179 calculator to estimate the cost savings available through this program.
You may also like to know what a financial expert has to say about IRS Code Section 179 as applied to the capital equipment cost of an RxSafe 1800. See below.
“If you do some simple math on a two-tower RxSafe system at a 25% tax bracket, $200,000 in expense would equate back out to approximately $50,000 in tax savings come April. That’s a significant cash flow. What’s nice about that is, if you’re using an equipment lease or a financing agreement, you may actually be cash-flow positive just from that experience . . . . Example: $200,000 investment on a capital lease on a seven-year term is approximately $15 per thousand or $3000 per month, plus or minus. On a five-year term it might be more like $20 per thousand or in the neighborhood of $4000 per month. If you just do some simple math, $4000 times 12 months is $48,000 on a tax savings of $50,000, that could be a positive income, not to mention all of the benefits you’d get from the RxSafe.” ~Peter Davison, Advantage Financial Services
Bottom line: The IRS Section 179 tax deduction offsets costs and increases profit margins significantly.
- Profit: Now and Later
Here are further remarks about ROI from two of our satisfied customers:
“We realized an ROI within the first year, but the value grows over time the longer we continue to use it. ~Jana Bennett, The Medicine Shoppe
“Our ROI was roughly one year for this machine. . . . Even after the first year, we’re constantly seeing increases to our bottom line in terms of profitability.” ~Ken Thai, El Monte Pharmacy
RxSafe Delivers Equipment, Technology, Customer Support, and a Return on Investment that Raises the Level of Patient Care and the Bottom Line in Your Pharmacy
Contact us to learn more about how RxSafe’s innovative technology improves patient care and increases profits. We’d be happy to point you to additional resources beyond those on our website about how our technology and the IRS Tax Code work together to offset operational expenses and capital outlay, which increases revenues and return on investment.
Put the power of RxSafe in your pharmacy and improve your bottom line. Call us now at 877-797-2332 or email us at firstname.lastname@example.org.