If you carry DME, you know it can be one of the most profitable departments in your pharmacy.
Data from a real RMS customer highlighted just how profitable DME can be with a Gross Martin Return on Investment (the amount of profit generated as DME products sold) of 4.49.
Outside of standard sales, a great way to generate profit from DME is through a rental program. For many pharmacies, this often means a lot of paperwork and manual tracking. For RMS customers, you can now add the Rental module to easily manage, bill and track DME rentals.
Here are some key features of this new module:
- The same item is managed for standard sales and rental. Use the RMS Product Manager to easily set up all the parameters for rental of an item including:
-
- Asset Number or Serial Number
- Quantity available
- Rental period
- Rental rate
- Deposits
- Late Fees
- ...and more!
- Easily transfer sale inventory into rental inventory.
- Automatically depreciate rental inventory to accurately track the value of rental assets.
- See your monthly revenue for each rental item so you can track how your rentals are performing.
- Create new rental contracts from the register. Set your rental term. Collect deposit and payments.
- Easily extend rental contracts from the register.
- Set rental items for delivery if you’re also using the RMS Delivery Module.
- Process rental returns easily through the register, including any past due fees and calculate/process deposit refund.
- Flag items for cleaning/repair at rental return.
- Print your rental contracts and return confirmation.
- Sell your rental items at any time you’d like and have them removed from the rental inventory.
Want to see just how easy it is to manage DME rentals through RMS? Check out our quick how-to video and contact us today to learn more!