Return credits are a valuable benefit offered by many pharmaceutical manufacturers and distributors to pharmacies. These credits allow pharmacies to return expired or unsold medications for a credit or refund, which can help to offset the costs associated with purchasing and storing these drugs.
Return credits can be especially beneficial for pharmacies that experience high turnover rates for certain medications or that are located in areas with an aging population. By returning expired or unsold medications, pharmacies can free up valuable storage space and reduce the risk of having to dispose of these drugs at a loss.
Pharmacies can typically return medications to the manufacturer or distributor from which they were purchased. However, some manufacturers and distributors have specific guidelines and procedures that must be followed in order to qualify for return credits. For example, some require that medications be returned within a certain time frame after the expiration date.
When working with return credit programs, it's important for pharmacies to keep accurate records of the medications that are being returned and to follow the manufacturer or distributors' guidelines closely. This will help to ensure that the process runs smoothly and that the pharmacy receives the maximum credit or refund possible.
Additionally, in some cases to be eligible for return credits, the medication must be in the original unopened and sealed packaging. Some medications can be returned if they are opened, but key steps to provide accurate counts or measurements must be followed. The packaging must be in good condition and not damaged. Pharmacies should also be aware that some states have regulations on the return of drugs, so it's important to check with the state board of pharmacy before beginning a return credit program.
In conclusion, return credits for pharmaceutical drugs can provide pharmacies with a valuable opportunity to recoup some of the costs associated with purchasing and storing these medications. By working closely with manufacturers and distributors and following their guidelines, pharmacies can ensure that they are maximizing the benefits of these programs.
National Pharmaceutical Returns can help you maximize your pharmaceutical return credits. Contact our pharmaceutical returns team at 800-470-7725 for information or to get a quote.