Accounting Finance:Rebate Process - Revision history

Nancyn at 18:47, 8 November 2019

2019-11-08T18:47:00Z

Stephenm at 20:20, 30 August 2016

2016-08-30T20:20:19Z

Stephenm at 20:06, 30 August 2016

2016-08-30T20:06:18Z

Stephenm at 20:03, 30 August 2016

2016-08-30T20:03:33Z

Stephenm at 19:51, 30 August 2016

2016-08-30T19:51:57Z

Stephenm at 19:37, 30 August 2016

2016-08-30T19:37:44Z

Stephenm at 18:55, 30 August 2016

2016-08-30T18:55:48Z

Stephenm at 18:55, 30 August 2016

2016-08-30T18:55:00Z

Stephenm at 17:10, 22 August 2016

2016-08-22T17:10:10Z

Stephenm: Created page with "'''Monthly Profit Sharing (‘MPS’)''' Rebates generated from the pharmaceutical generic formulary program referred to as the Class 010 Program (‘Program’). All generi..."

2016-08-22T17:06:47Z

Created page with "'''Monthly Profit Sharing (‘MPS’)''' Rebates generated from the pharmaceutical generic formulary program referred to as the Class 010 Program (‘Program’). All generi..."

New page

'''Monthly Profit Sharing (‘MPS’)'''

Rebates generated from the pharmaceutical generic formulary program referred to as the Class 010 Program (‘Program’). All generic molecules included in the Program are assigned a rebate percentage based on the professional allowance (‘PA’) percentage received from the Program vendors for these generic molecules.

Professional allowance percentage is based on cost of the molecule from the vendor whereas the MPS percentage is based on the selling price of molecule to shareholders. For example; a molecule with a cost of $100, a professional allowance of 50% and a selling price $108, then uniPHARM receives a PA of $50 from the vendor and pays a MPS at 45.00% based on selling price or $48.60. For set-up purposes CURE – 45.00% and VERE – 50.00%.

CURE – customer rebate percentage, vendor PA % less the ‘tens’ digit; e.g. 50% - 5% = 45%
VERE – vendor rebate percentage, PA % as provided by the Class 010 vendor

Brand up-charge rebate (Brand Rebate)
The Rebate paid on brand pharmaceuticals with an eight percent (8%) up-charge. The rebate percentage plus the two percent (2%) cash discount nets the up-charge on these brand pharmaceuticals to either 3.25% if a store’s total brand pharmaceuticals sales are less than $1.0 million or 2.75% if greater than $1.0 million. Current rebate percentage is either 2.40% or 2.85% based on pharmaceutical sales.

@@ Line 25: / Line 25: @@
 *AB up-charge rebate is 6.83%
 *YT up-charge rebate is 9.72%
 [[Category:Shareholder Rebates]]

@@ Line 8: / Line 8: @@
 VERE – vendor rebate percentage, is the PA % as provided by the Class 010 vendor
-'''Brand Pharmaceutical Rebate'''
+'''Brand Pharmaceutical Up-charge Rebate'''
-All brand pharmaceuticals receive a two percent (2%) cash discount if paid within ten (10) days of statement date. An additional rebate is paid on brand pharmaceuticals to shareholders that nets the up-charge to either 3.25% if a store's total brand pharmaceutical purchases are less than $1.0 million or 2.75% if a store's brand pharmaceutical purchase are greater than $1.0 million.
+All brand pharmaceuticals receive a two percent (2%) cash discount if purchases are paid within ten (10) days of statement date. An additional rebate is paid on brand pharmaceuticals to shareholders that nets the up-charge to either 3.25% if a store's total brand pharmaceutical purchases are less than $1.0 million or 2.75% if a store's brand pharmaceutical purchase are greater than $1.0 million.
 *For brand pharmaceuticals with an eight percent (8%) up-charge the brand rebate will be 2.40% or 2.85%
@@ Line 18: / Line 18: @@
 *Lucentis has a net up-charge of 1.00% and a brand rebate of 1.60%
 *Eylea has a net up-charge of minus 1.00% and a brand rebate of 3.48%
 [[Category:Shareholder Rebates]]

@@ Line 14: / Line 14: @@
 Brand pharmaceuticals with a five percent (5%) up-charge and a cost greater than $5,000 will have a net up-charge of 2.50%. *The brand rebate for these products will be 0.38%.
 *Lucentis has a net up-charge of 1.00% and a brand rebate of 1.60%
 *Eylea has a net up-charge of minus 1.00% and a brand rebate of 3.48%
 [[Category:Shareholder Rebates]]

@@ Line 12: / Line 12: @@
 All brand pharmaceuticals receive a two percent (2%) cash discount if paid within ten (10) days of statement date. An additional rebate is paid on brand pharmaceuticals to shareholders that nets the up-charge to either 3.25% if a store's total brand pharmaceutical purchases are less than $1.0 million or 2.75% if a store's brand pharmaceutical purchase are greater than $1.0 million.
 *For brand pharmaceuticals with an eight percent (8%) up-charge the brand rebate will be 2.40% or 2.85%
 [[Category:Shareholder Rebates]]

@@ Line 10: / Line 10: @@
 '''Brand Pharmaceutical Rebate'''
-All brand pharmaceuticals receive a two percent (2%) cash discount if paid within ten (10) days of statement date. An additional rebate is paid on brand pharmaceuticals that nets the up-charge to either 3.25% if a store's total brand pharmaceutical purchases are less than $1.0 million or 2.75% if a store's brand pharmaceutical purchase are greater than $1.0 million.
+All brand pharmaceuticals receive a two percent (2%) cash discount if paid within ten (10) days of statement date. An additional rebate is paid on brand pharmaceuticals to shareholders that nets the up-charge to either 3.25% if a store's total brand pharmaceutical purchases are less than $1.0 million or 2.75% if a store's brand pharmaceutical purchase are greater than $1.0 million.
 *For brand pharmaceuticals with an eight percent (8%) up-charge the brand rebate will be 2.40% or 2.85%
 *For brand pharmaceuticals with a five percent (5%) up-charge the brand rebate will be

@@ Line 3: / Line 3: @@
 Rebates generated from the pharmaceutical generic formulary program referred to as the Class 010 Program (‘Program’). All generic molecules included in the Program are assigned a rebate percentage based on the professional allowance (‘PA’) percentage received from the Program vendors for these generic molecules.
-Professional allowance percentage is based on cost of the molecule from the vendor whereas the MPS percentage is based on the selling price of molecule to shareholders. For example; a molecule with a cost of $100, a professional allowance of 50% and a selling price $108, then uniPHARM receives a PA of $50 from the vendor and pays a MPS at 45.00% based on selling price or $48.60. For set-up purposes CURE – 45.00% and VERE – 50.00%.
+The vendors Professional Allowance amount is based on a percentage applied to the cost of the molecule whereas the MPS paid to shareholders is a based on a percentage applied to the selling price of the molecule. For example; a molecule with a cost of $100, a professional allowance of 50% and a selling price $108, then uniPHARM receives a PA of $50 from the vendor and pays a MPS at 45.00% based on selling price or $48.60. These percentages are set-up as CURE – 45.00% and VERE – 50.00%.
-CURE – customer rebate percentage, vendor PA % less the ‘tens’ digit; e.g. 50% - 5% = 45%
+CURE – customer rebate percentage, calculated as the vendor PA % less the ‘tens’ digit; e.g. 50% - 5% = 45%
-VERE – vendor rebate percentage, PA % as provided by the Class 010 vendor
+VERE – vendor rebate percentage, is the PA % as provided by the Class 010 vendor
-Brand up-charge rebate (Brand Rebate)
+'''bold text''' Brand Pharmaceutical Rebate
 The Rebate paid on brand pharmaceuticals with an eight percent (8%) up-charge. The rebate percentage plus the two percent (2%) cash discount nets the up-charge on these brand pharmaceuticals to either 3.25% if a store’s total brand pharmaceuticals sales are less than $1.0 million or 2.75% if greater than $1.0 million. Current rebate percentage is either 2.40% or 2.85% based on pharmaceutical sales.

← Older revision		Revision as of 17:10, 22 August 2016
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	Brand up-charge rebate (Brand Rebate)		Brand up-charge rebate (Brand Rebate)
	The Rebate paid on brand pharmaceuticals with an eight percent (8%) up-charge. The rebate percentage plus the two percent (2%) cash discount nets the up-charge on these brand pharmaceuticals to either 3.25% if a store’s total brand pharmaceuticals sales are less than $1.0 million or 2.75% if greater than $1.0 million. Current rebate percentage is either 2.40% or 2.85% based on pharmaceutical sales.		The Rebate paid on brand pharmaceuticals with an eight percent (8%) up-charge. The rebate percentage plus the two percent (2%) cash discount nets the up-charge on these brand pharmaceuticals to either 3.25% if a store’s total brand pharmaceuticals sales are less than $1.0 million or 2.75% if greater than $1.0 million. Current rebate percentage is either 2.40% or 2.85% based on pharmaceutical sales.
		+
		+	[[Category:Shareholder Rebates]]