Products explained

Let's take a look at the products page. On the products page, you can scroll down, show X amount of products, choose whatever you want, and see all of the products that are offered here.

Let's stop at one everyone's familiar with, probably semaglutide B12. You can see the product name here. You can also see it says twelve variants. What is a variant? Variant can be thought of like a T-shirt that has a small, medium, and large, or maybe there's a red, yellow, green T-shirt.

You might have different strengths, and these different strengths are recognized as a variant. You also have different supply durations: thirty-day, ninety-day. These are also different variants. So you can see your medication here, all of the variants, and you will see ranges of what your total costs are throughout on the parent line, and then the child line beneath it, has all of the cost for each specific variant.

So let's go back up to the top here and take a look at 5-Amino-1 MQ. This has two variants. The concentration is the same. The volume is one each. This is a tablet, and the supply is thirty-day and ninety-day. Important to note here, if we are able to write a prescription for ninety-day supply or maybe it's a sixty-day supply, whatever it is, that's for two reasons.

First reason is that the beyond use date of the medication allows us to do that. The beyond use date of 5-Amino-1 is past ninety days, so the medication won't expire, and we can write a prescription for that duration of time. The second reason is because our providers can justify writing a prescription for that amount of time.

Let's take Epithalon, for example. Epithalon is meant to be used in a twenty-day sprint. It's not meant to be used months at a time, which is why you won't see any variants for thirty-day, ninety-day supply like you may see this across the internet.

Other companies are doing this. That's not the proper use case of that medication. Our providers determine what can be written for that medication, if you're using our provider network, that determines the supply and duration. If we do have a ninety-day supply, we can ship multiple vials of the medication at the same time.

If somebody buys a thirty-day supply, shipping will be thirty dollars for that medication. If somebody buys a ninety-day supply, we can ship three vials. It'll still be thirty dollars, which means you have an additional sixty dollars added to your profit directly. This is important when you're setting your retail price because you can add sixty dollars to your bottom line, which may make you wanna incentivize the buyer to apply for care for a longer duration of medication if it's suitable for them.

You can do by adjusting the retail price down. Maybe you say save thirty dollars for a three-month. Now, going through these line items one by one here, you will see that we have a product cost of a hundred and five dollars in this case.

Shipping, this is the shipping fee from the pharmacy. Product cost obviously is the cost of medication, and you have an exam fee. Exam fee is what HealthAide Medical Group pays our providers to provide patient care on your behalf. If you are providing your own care because you are a clinic, you're a nurse practitioner, you're a provider, this rate will be lower. Total cost of goods sold is shown in this column here. So total cost, this is what you pay.

So now how do we set our profit and our retail value? Easy enough to do. Maybe I wanna set my ninety-day supply at a lower rate or discounted rate than the thirty-day supply. Or maybe I don't want to.

Maybe I just wanna set them both the same. I can select the checkbox for this medication. I can select the checkbox for all medications. I need to go to set price, go to this dropdown menu, and I can select whatever suits my needs best. Maybe I wanna make a certain amount of profit on a medication, maybe I wanna set a margin, fifty percent margin on all medications. Maybe I wanna mark it up by fifty dollars, or mark it up by fifty percent. I think forty percent margin is where I wanna go right now, so I'm gonna apply the pricing on all of my medications and their variants, and I'm gonna publish these products now.

Publishing these products will turn them from draft mode into a published mode. What's the difference? If you don't want to offer a specific medication for the patient, you don't need to. You can set Five Amino 1 to draft mode, and the patient will not see that in their patient portal, or they won't be able to check out for that specific medication.

So you can just set anything you want to draft. Now it's in draft mode. No patient will be able to see or check out for Five Amino 1 MQ. Important to note, if you are advertising and you cannot advertise specific medications, you don't wanna advertise specific medications, this is how you take care of that.

So this is your products page. Now we're gonna go a step deeper, and we're gonna click into the actual medication page, and I'm gonna jump into a product page, specific product page. So if you have Five Amino, this is how our pharmacy reports the name of this medication.

We can type in a description. You have the ability to edit the description of the medication for the patient-facing side, and you can see what profit we're making on this medication. In a case where you are a provider network, you would set your own medical intake screening for this medication.

If you choose to add other photos, you can do that. You select whichever photo fit to put in here, and this would show up in your patient portal as well when they're looking through their medications. If you have additional resources that you wanna provide for the patient, you can select the patient resources here and add resources for them as well.

If there were any reviews on this medication, whenever a patient receives their medication, they have the opportunity in their portal in the prescription section to review it. This is HealthAide's way of keeping our pharmacies accountable. We ask the patient if their order arrived on time, if it came in good packaging, and what their overall experience was.

If we do not see regularly positive reviews and a positive response from the pharmacy, we have discussions with the pharmacy to make sure that they're maintaining the standard and quality of care that we would want them to. You'll see your reviews on the medication here, and you will see any patient reviews, or testimonials or comments right here in the patient review section for each medication.

If you change any of this, you can click the Save button and save changes. This is the product section. These are your product variants, your costs, your earnings. Feel free to mess with these any way you see fit. So this is your product page, probably the most important thing for you to dial in and get right. Before I go, one last comment. We get this often: How much should I set the price of my medication for? That's up to you. The price, the cost of medication varies across the board.

It depends on who your clientele is. If you are a med spa or a physician and you have concierge medicine, if you have a higher-end clientele, if you're offering additional services, if you're doing upsells and cross-sells, these are things that you can package together and have a higher price point on the because you have more concierge service.

Otherwise, you can set it to a lower margin amount and you could be a higher volume player. So pricing changes significantly across the board. Our guidance is to find somebody who is a similar brand to you and move forward with a price that's similar and adjust to meet your market specifically, where they're at.

So products page pricing, very important. We will jump into discounts next.