Friday, June 27, 2014

Absolute Must Read as I have Suggested Before--Cafepharma-- a lot of the legal and practice issues are discussed--for example here is discussion regarding how much 1099 sales reps get paid and a disagreement as to whether 1099 commissions violate the law

1099 Compounding Commissions?


What is the norm commission rate for these companies? I will be 1099 and this will be an addition to my 1099 medical device position. Pharmacy looks to be very reputable. They have a realtime RX tracking software that shows all reimbursements. Lots of transparency and shows the billing pathways for pt. tracking.

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  #2  
Old 05-28-2013, 07:17 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Commission ranges from 15%-20% with some companies offering money for entertaining and travel. The money can be quite lucrative with refills etc...do your research on the pharmacy. There are plenty of pharmacies but only a handful are doing it right. Who is the pharmacy you are considering?
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  #3  
Old 05-30-2013, 12:49 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Im not the OP but had a similar question. I am looking at Focused Pain Solutions out of NY. Their comission seems to be quite a bit higher - $90 for any script over $225
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  #4  
Old 05-30-2013, 08:27 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
Im not the OP but had a similar question. I am looking at Focused Pain Solutions out of NY. Their comission seems to be quite a bit higher - $90 for any script over $225
OP here, pretty sure 20% is higher than $90. I don't want to give name just yet, but they are in the Carolinas and seem to be very legit.
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  #5  
Old 05-30-2013, 08:58 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

$90 per script isn't bad if the creams were billing out at $225 but they typically bill between $500 and $2500 per script. I believe the $90 is a flat commission. Do the math and you can do considerably higher.
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  #6  
Old 05-30-2013, 11:47 PM
Anonymous
 
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Exclamation Re: 1099 Compounding Commissions?

Dude this is fad not long term. Insurances are figuring out overpriced pain creams are a rip off. I give it a year!
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  #7  
Old 05-31-2013, 06:09 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

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Originally Posted by Anonymous View Post
Dude this is fad not long term. Insurances are figuring out overpriced pain creams are a rip off. I give it a year!
Okay by me, I love something easy in my bag that is highly profitable. Make hay.
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  #8  
Old 06-01-2013, 05:15 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
Dude this is fad not long term. Insurances are figuring out overpriced pain creams are a rip off. I give it a year!
You sound like the guy that said cars were just a fad and that people would get tired of them breaking down and running out of fuel and would come back to horses.

The creams are cheap compared to the pain pills that physically and mentally impair the patients in addition to getting them addicted. The opioids cause such common problems as low testosterone and constipation just to name a few. How many people die every day from drug overdose that got their start from legal pain pills. What's the cost in human lives? What's the cost for all the accidents caused by people who are driving impaired that end up crippled all their lives or in the hospital for months or even just a few weeks? Have the reimbursement rates dropped for the opioid medications except when a generic has come out? No? Then why would the insurance companies want to discourage physicians from prescribing the pain creams that in the long run are much cheaper to the bottom line?
The pain creams have been going on for years and years so why now? No answer? No, I didn't think so.
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  #9  
Old 06-01-2013, 05:30 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
Im not the OP but had a similar question. I am looking at Focused Pain Solutions out of NY. Their comission seems to be quite a bit higher - $90 for any script over $225
You can take that $90 offer if you want or earn 20% to 24% from Supreme Medical Solutions. Since most scripts go for $1,000 or more We represent a PCAB accredited pharmacy that is licensed in all 50 states, has a pharmacist available 24/7 and unlike all the competition we offer you some additional product lines that are a perfect fit and compliment each other and they also pay you a residual income. There are only about 132 PCAB accredited pharmacies in the US out of about 7,000 compounding pharmacies and a ton of those are only licensed in their own state or don't take insurance or don't sell pain creams.
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  #10  
Old 06-05-2013, 12:31 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

I have some snake oil that cures all ailments too and will only charge you 2k
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  #11  
Old 06-06-2013, 07:52 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
I have some snake oil that cures all ailments too and will only charge you 2k
OP here, I don't care if it is snake oil or not. Have you ever tried a compounded cream? I have several years ago and it worked well for my shoulder pain. I'm not asking providers who don't already write these scripts. I am just having my providers write them with me.
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  #12  
Old 06-06-2013, 02:27 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
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I have some snake oil that cures all ailments too and will only charge you 2k
Tell us how you would defend big pharma when they came out with Voltaren Gel when all it is really consists of is a NSAID in a transdermal cream and yet they charged big bucks. They took a generic product and put it in a transdermal cream and yet they have charged the medical field a ton of money. At least the compounding pharmacies put additional ingredients in their medication to further reduce pain. There is a ton more to producing a transdermal medication with 5-6 active ingredients than mass producing a ton of Voltaren Gel that the Novartis & Endo reps are selling. If your loved one was suffering in pain which of these two products would you want to help make the pain go away?
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  #13  
Old 07-02-2013, 12:44 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
You can take that $90 offer if you want or earn 20% to 24% from Supreme Medical Solutions. Since most scripts go for $1,000 or more We represent a PCAB accredited pharmacy that is licensed in all 50 states, has a pharmacist available 24/7 and unlike all the competition we offer you some additional product lines that are a perfect fit and compliment each other and they also pay you a residual income. There are only about 132 PCAB accredited pharmacies in the US out of about 7,000 compounding pharmacies and a ton of those are only licensed in their own state or don't take insurance or don't sell pain creams.



Uh.... Didn't Supreme Medical Just run into issues with waiving of copays and sever ties to the compounding pharmacy they represented?
It won't be long until insurance companies figure out they are being billed huge sums of money for these creams and the compounding companies are pocketing a ton of money. Let's be real, how long until insurance companies put amstopmto this high priced practice?
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  #14  
Old 07-17-2013, 09:22 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
Uh.... Didn't Supreme Medical Just run into issues with waiving of copays and sever ties to the compounding pharmacy they represented?
It won't be long until insurance companies figure out they are being billed huge sums of money for these creams and the compounding companies are pocketing a ton of money. Let's be real, how long until insurance companies put amstopmto this high priced practice?
They will just pay less. The payments are based on known generic quantities and concentrations. The higher the concentration and volume, the higher the price. Many insurance companies such as BCBS still reimburse, but instead of 120g and more at a time, they will only approve 30g or a weeks supply. There is nothing magical about the compounds or underhanded about the pharmacies (if they are billing appropriately). Happy hunting.
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  #15  
Old 11-14-2013, 12:51 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Just to set the story straight, Florida Board of Pharmacy requires or recommends strongly that all sales people are employees because of pharmacy compliance issues. Most legit companies are contracting their employee sales team. Commissions ranges are factored as salary not a per transaction basis. Figure up to 20-25%
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  #16  
Old 03-21-2014, 11:41 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Medimix only paying 15%. Suxs
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  #17  
Old 03-24-2014, 06:26 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

I pay 25% for all pain, scar, wound care, and sinus formulations. Awesome pharmacy, ships nationally in 48 hours. I'm looking for seriously motivated reps.
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  #18  
Old 03-24-2014, 10:58 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
I pay 25% for all pain, scar, wound care, and sinus formulations. Awesome pharmacy, ships nationally in 48 hours. I'm looking for seriously motivated reps.
I'm sure you won't tell the name of the company, but what state are you in?
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  #19  
Old 03-26-2014, 08:34 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
Medimix only paying 15%. Suxs
Yes, but MediMix is here to stay. Many have gotten tempted with smaller pharmacies but want to come back. At least there is transparency and great customer service.
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  #20  
Old 04-16-2014, 02:45 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
I'm sure you won't tell the name of the company, but what state are you in?
In Texas with 3 pharmacies.
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  #21  
Old 04-28-2014, 01:41 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Any well paying and reputable companies in NJ?
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  #22  
Old 04-29-2014, 09:27 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
I pay 25% for all pain, scar, wound care, and sinus formulations. Awesome pharmacy, ships nationally in 48 hours. I'm looking for seriously motivated reps.
How do I get in touch with you????
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  #23  
Old 05-02-2014, 12:49 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Commissions aren't everything, but 15-20% is pretty standard. Service, efficacy, quality, are all very important for sustained business. These docs don't want to get patient complaints about anything. Sometimes the companies try to lure away reps with higher %, but you'll make less when you lose credibility with the product. Find a leader, a good % and quality product, and you'll make money. Some companies like to bonus reps over and above their performance when deserved. Lots of ways to incentivize sales performance.
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  #24  
Old 05-02-2014, 07:31 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
Commissions aren't everything, but 15-20% is pretty standard. Service, efficacy, quality, are all very important for sustained business. These docs don't want to get patient complaints about anything. Sometimes the companies try to lure away reps with higher %, but you'll make less when you lose credibility with the product. Find a leader, a good % and quality product, and you'll make money. Some companies like to bonus reps over and above their performance when deserved. Lots of ways to incentivize sales performance.
Agree with this comment 100%..spot on. Look for good pharmacy and good support with sales transparency. The fly by night start up pharmacies trying to throw out high commissions to lure reps away would be a very bad move. Do your homework, ask to speak to several reps.
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  #25  
Old 05-02-2014, 11:42 AM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
Commissions aren't everything, but 15-20% is pretty standard. Service, efficacy, quality, are all very important for sustained business. These docs don't want to get patient complaints about anything. Sometimes the companies try to lure away reps with higher %, but you'll make less when you lose credibility with the product. Find a leader, a good % and quality product, and you'll make money. Some companies like to bonus reps over and above their performance when deserved. Lots of ways to incentivize sales performance.
Right on. Stay away from the small pharmacies who will most likely be out of the compound biz, soon. Make sure you have a good lead manager who provides accurate information and a pharmacy who has a data system portal. Also look for those who have credentials and are licensed in most states.

All you need are a few prescribers who believe in the product and who prescribe often. This has been a great opportunity for many in adding great, additional income.
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  #26  
Old 05-19-2014, 02:47 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

any pharmacy or rep working on a 1099 commission only basis is violating federal and state anti-kickback laws. If your doing get ready for a major legal issue. large fines and possible jail
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  #27  
Old 05-19-2014, 07:43 PM
Anonymous
 
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Default Re: 1099 Compounding Commissions?

Quote:
Originally Posted by Anonymous View Post
any pharmacy or rep working on a 1099 commission only basis is violating federal and state anti-kickback laws. If your doing get ready for a major legal issue. large fines and possible jail
So all distributors who sell Ortho products as 1099 are violating anti-kickback laws as well according to your logic. The law you are referring to that you think compounders are violating would apply to every medical rep selling 1099. You are wrong.
 

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