Pharmacies are slammed with orders. HealthGrowth’s pharmacy members report that their daily orders are up 30+% from just a few weeks ago. But if you aren’t financially prepared, your cash needs will quickly outstrip your capacity to pay your wholesaler and make payroll.
Now is the time to contact your local bank or preferred lender and ask for an increase in your current revolving line of credit. Pharmacies are a primary resource in the nations’ battle against Covid-19 and your banker should approve an increase immediately or with limited underwriting.
If you don’t have a revolving line of credit, it is imperative that you obtain one now before you need it! The process takes time and if you wait until cash is running low, you’ve waited too long.
PBMs are delaying reimbursements, blaming the crush from COVID-19. A delay of even a few days may mean the difference between being able to make your payroll or missing it.
HealthGrowth’s PharmLine™ Line to Credit takes less than 10-days to underwrite to fund as much as $250,000 and can be the lifeline your pharmacy needs to survive this unprecedented time.