Pricing Tables

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Pricing Tables

Pricing systems contain specific pricing tables. A pricing system may use one pricing table as a default, another pricing table for insurance pricing, and yet another pricing table for OTC sales. Specific pricing tables have unique information regarding minimum price, cost basis, service fees, etc. To learn how to create new pricing tables, follow the instructions below. Once these tables have been created, they can be attached to a pricing system.

 

Topics

How Do I Create a Pricing Table?

How Do I Set Up a Pricing Tier?

 

 

How Do I Create a Pricing Table?

1.Click on the System menu item and select Pricing Tables. The Pricing Table screen will open.

2.Click on the Create New Pricing button.

 

To view details for a pricing table that has already been created, you can click on the magnifying glass icon to open the search field and locate one of the existing options.

 

3.Enter a unique Name for your pricing table (max: 10 characters). The same name cannot be used for more than one table.

4.Enter a brief Description.

5.The Cost Basis is the starting point from which prices are calculated. It is the method of calculating cost that will be used to determine a price. Click on the drop-down menu in the Cost Basis field to select the correct cost basis type.

6.The Break Type relates to Pricing Tiers. You can create tiers to represent different pricing levels which may have different charges or fees. Up to a specific Cost (or Quantity or Day Supply), one pricing level may apply. Beyond the chosen point, another tier can be used. The Break Type determines how you want to move from one tier to another. Click on the drop-down menu in the Break Type field to choose which break type will be used (Quantity, Day Supply, or Total Cost).

 

Break Types allow you to charge different amounts for different quantities. For example, you may want to charge less if a patient is buying a larger quantity of an item. You can set your pricing table to "break" on quantity. Then, you can set up pricing tiers that use a different Factor for different amounts. Say you want to multiply the cost by a factor of 2 to find your price. You could add a pricing tier that went up to 60 pills and use a factor of 2 for sales up to that amount. Then you could add a tier for sales up to 120 pills and only multiply by a factor of 1.5. This way you can ensure that patients buying a larger number of pills will be given a discount.

 

7.In the Minimum Price field, enter the lowest price that will qualify to use this pricing table.

8.If you want to use a specific tax rate for this pricing table, you can enter the correct percentage into the OTC Override Tax Rate field (e.g., 2.5%). This will override your Pharmacy's Tax Rate setting for any items using this pricing table. For this tax rate to take effect, you will also need to mark the Tax checkbox described below. (This tax rate field is intended for Over-the-Counter pricing tables. This should not be used for scripts. The OTC Override Tax Rate will not be submitted to insurance.)

9.In the Round To Number field, enter the nearest number to which a price will be rounded. (For example, if you enter "1.0" in this field, prices will be rounded to the nearest whole dollar.)

10.If this pricing table will include tax, mark the Tax checkbox.

11.If you want this pricing table to be an active option in your system, mark the Active checkbox.

12.When you have entered the needed information, click on the Save button.

 

 

How Do I Set Up a Pricing Tier?

Pricing tables may contain various tiers, with each tier handling pricing up to a specific limit. To add a new tier to your pricing table:

 

1.Click on the Pricing Tiers tab.

2.Click on the Add New button.

3.Enter the maximum Cost (or Quantity, Day Supply, etc.) for this tier in the Upper Limit field.

 

If you have chosen a Break Type of "Total Cost," your Upper Limit will refer to the largest dollar amount for that pricing tier. If you are using a Break Type of "Quantity," this limit will refer to the largest amount of medication that applies to the tier. The "Day Supply" option means that the pricing will "break" to the next tier at a given number of days covered by the medication.

 

4.In the Factor field, enter the factor that will be used to determine prices. The Cost Basis will be multiplied by this factor to find the price before a fee is added.

5.In the Fee field, enter the amount that will be added as a fee after the price has been calculated.

6.When you have entered the needed information, click on the Save button.

 

NOTE: Whether you set up one tier or several (0-20, 21-50, etc.), be sure to set your largest tier up to a very large amount. For example, if you have separate tiers with the Upper Limits of $20, $50 and $100, anything over one hundred dollars will not be priced correctly. Be sure that your highest tier is set to something like 99999. This will ensure that every price (or quantity, etc.) has a tier.

 

See Also

Pricing Systems

Region Setup