Web based promotion of drug products driven by price point and performance rebates
A system and method in accordance with the principles of the invention provides a Web based drug product promotion which uses an administrator's webpage to list a network of participating pharmacies and promotes lower pricing of drug products by its network than that offered by other pharmacies. This is accomplished by first securing rebate commitments from drug suppliers of the drug products for reaching specific amounts of purchases of the drug products by the network. This is combined with securing pricing, performance and promotional commitments from the participating pharmacies in the network with respect to such drug products, such that the pricing and performance reflects rebates assigned to the participating pharmacies for reaching certain levels of market share at specified price points.
1 . A method for promoting drug products using the Web, comprising the steps of:
securing a network of pharmacies that is driven to offer lower prices for drug products in response to receiving rebates that are based on reaching certain levels of market share at specified drug product prices;
securing drug product suppliers that will provide rebates in response to market share;
listing the network of pharmacies on an administrator's website; and
promoting on the administrator's website that the network of pharmacies offer lower pricing for drug products for members.
2 . The method of claim 1 , further comprising the step of registering potential members meeting eligibility requirements.
3 . The method of claim 2 , wherein a rebate structure for the network of pharmacies has built-in incentives to decrease the cost of drug products to members.
4 . The method of claim 1 , wherein links are provided on the administrator's website to the network of pharmacies.
5 . The method of claim 1 , wherein contact information is provided for the network of pharmacies.
6 . The method of claim 2 , wherein the eligibility requirements include potential members who do not have insurance coverage.
7 . The method of claim 2 , wherein the eligibility requirements include potential members who do not have drug product insurance coverage.
8 . The method of claim 1 , wherein increasing market share and decreasing drug product prices results in increased rebates to network of pharmacies.
9 . A system for promoting drug products using the Web, comprising:
an administrator website;
a network of pharmacies that is driven to offer lower prices for drug products in response to a rebate structure that is based on reaching certain levels of market share at target drug product prices; and
the website listing the network of pharmacies to promote that the network of pharmacies offer lower pricing for drug products for members.
10 . The system of claim 9 , the administrator website having a webpage to register potential members meeting eligibility requirements.
11 . The system of claim 9 , wherein the rebate structure has built-in incentives to decrease the cost of drug products to members.
12 . The system of claim 11 , wherein the administrator website has links to the network of pharmacies.
13 . The system of claim 12 , wherein the administrator website has contact information for the network of pharmacies.
14 . The system of claim 10 , wherein the eligibility requirements include potential members who do not have insurance coverage.
15 . The system of claim 10 , wherein the eligibility requirements include potential members who do not have drug product insurance coverage.
16 . The system of claim 10 , wherein the eligibility requirements include potential members who have limited insurance coverage.
17 . The system of claim 9 , wherein the rebate structure provides increasingly greater rebates for greater market share at lower drug product prices.