Issue link: https://www.e-digitaleditions.com/i/1332457
Exploring the Covetrus Advantage The Covetrus Prescription Management platform not only makes creating and renewing prescriptions easier than ever, it powers deeper insights into revenue opportunity, inventory management, and client engagement. "Through our online pharmacy, I can offer my clients anything that I wouldn't normally carry on the truck. Now I stock only what I know I'm going to need to dispense at the time of service, in a very small quantity, which I don't worry about wasting. Not having to maintain a large inventory or watch expiration dates means I can invest in other areas of my practice." "One reason we feel the Covetrus Platform has been so successful for our practice is because we didn't know how much money we were losing. Now with an easy way to track and convert prescriptions from third-party pharmacies, the new revenue shows us exactly what we were losing. And that includes some OTC products we didn't know they were buying elsewhere." "Having a steady, reliable revenue stream that doesn't require me to be in the field, especially during COVID-19, has been critical to improving my practice's financial performance." "Covetrus' relationship with manufacturers means my clients receive rebates on quality medications and allows us to be competitive with big third-party retailers that don't comply with manufacturer standards. For our clients, saving money by buying through our online pharmacy turns out to be the best way to guarantee safe medications for their horse." "The moment you enroll, it's the beginning of your relationship with the Covetrus team. I get energy and motivation from our account manager, who helps us work through any barriers, and gives us resources to educate our clients and make the most of the Platform. That relationship is a big part of why we are so thrilled with the new technology in our day-to-day workflow." "Covetrus is compatible with our practice management software package, allowing prescriptions purchased through the pharmacy to be added to the patient history and avoiding prescribing any medications that may interact." Dr. Liz Maloney on the strengths of Covetrus Prescription Management Win back revenues Unlock reliable revenue – no matter the season Give clients fair pricing Never out to pasture Keep medical history up to date REDUCTION IN DAYS ACCOUNTS RECEIVABLE 25% Down to only 12 days vs. best practice target of <30 days 2019 SALES $25K+ on Platform of products rarely sold in-clinic (Regumate + Dormosedan) 2019 SALES $93K+ on AutoShip— recurring revenue +72% vs 2018