Streamlining Pharmaceutical Waste

Based in New York, Guaranteed Returns (GRx) ensures pharmacy customers meet federal, state, and local regulations in terms of pharmaceutical returns. The company continually works to develop innovative programs for customers while providing the necessary accountability. Guaranteed Returns is committed to helping pharmacies reduce non-returnable products and maximize ROI.

Every year, pharmacies and hospitals in the US lose billions of dollars from disposing of unused or expired pharmaceuticals. For example, a 2016 study estimated that healthcare providers wasted $3 billion annually from leftover cancer drugs. To counter that, the US health care industry has designed a process where some of these medications can be returned to manufacturers or specialized brokers for management and disposal.

Reverse distributors develop programs that help pharmacies and hospitals safely remove unused medications and pharmaceutical waste while maintaining compliance with Food and Drug Administration and Environmental Protection Agency regulations. In addition, federal and state laws need to be followed and secure electronic distribution tracking systems are used.

Clear differentiation must be made between pharmaceutical products to be returned for management, those shipped erroneously, and those delivered when damaged. Similar distinctions must be made between returned by a healthcare provider and those recalled for whatever reason.

Toys for Tots Literacy Program

For over three decades, Guaranteed Returns has provided its customers with quality pharmaceutical return services. The New York-based company’s mission is to help clients in the pharmaceutical industry achieve financial optimization. Active in the local community, Guaranteed Returns supports various organizations, including the Marine Toys for Tots program.

Founded by the U.S. Marine Corps, the goal of Marine Toys for Tots Program is to acquire and distribute toys as gifts to help America’s children in need experience the joy of Christmas. The organization achieves its mandate through various programs such as the Toys for Tots Literacy Program, which is a collaboration between UPS Store(R) and the Marine Toys for Tots Foundation. The partnership aims to give children from disadvantaged backgrounds the chance to equally compete academically in order to secure a bright future.

The program offers children direct access to resources to improve their reading and communication skills. Since its inception in 2008, the Toys for Tots Literacy Program has donated books to various local non-profit organizations. Thanks to support from partners, the initiative has distributed over 42 million books and raised over $5.3 million. 

How Guaranteed Returns Offers Transparency to Clients

Based in Holbrook, New York, Guaranteed Returns possesses decades of expertise in the reverse distribution industry. In operation since 1986, Guaranteed Returns (GRx) serves pharmacies to assist them with optimizing their business performance by ensuring their pharmaceutical returns are efficiently managed. GRx is dedicated to providing accuracy and transparency in its service delivery.

The majority of reverse distributors are unable to offer transparency because they offer limited reporting that fails to enable pharmacies to accurately track their actual credits recovered in relation to the estimated return value. However, GRx provides customers with a detailed credit status report for every cycle that accounts for every dollar worth of pharmaceutical returns.

Clients of GRx are provided with non-returnable manifests that explain the reasoning behind item eligibilities and returnable manifests that indicate projected return values to assist with managing inventory turns. The company also ensures that clients understand what service fees have been charged to them so there are no misunderstandings. In addition, GRx clients receive valuable insights on identifying weaknesses in their inventory practices and how to boost the growth of their businesses.

 

What’s New on the NABP Website?

A reverse distribution services provider Guaranteed Returns (GRx) is a New York-based company that has been assisting small retailers and hospitals throughout the country since its inception in 1986. Guaranteed Returns also supports the National Association Boards of Pharmacy (NABP), an organization that works with the state boards of pharmacy to protect public health.

NABP members can be found in all 50 states and in Guam, Puerto Rico, The Bahamas, the Virgin Islands, and ten Canadian Provinces. In October, the NABP unveiled its updated website which features new key functionalities that simplify navigation and use for members across North America and the Caribbean.

The site at www.nabp.pharmacy has changed the Help, Members, Resources, Meetings, and About sections. The Help section has updated its search and filters menu and has made it easier for users to contact a Customer Engagement representative. The Members section has integrated resources into the menu, making information more accessible to NABP members.

The Resources section offers visitors information regarding continuing education opportunities and industry reports and provides access to industry publications. Members can filter up-coming meeting information and get details on these events at the Meeting section.

Finally, the About section has been updated to tell visitors more about the organization. Here, visitors can find information regarding leadership and current initiatives, i.e., the Presidential Initiative and Annual Meeting.