Hiring a third-party for pharmaceutical returns can come with several risks, including:
Quality control: The third-party may not have the same quality control standards as the company, which can result in the return of products that do not comply with the manufacturer RGP.
Regulatory compliance: The third-party may not be fully compliant with all relevant regulations and standards related to the handling and disposal of pharmaceutical products. This could result in violation of FDA and DEA rules and regulations.
Data security: Pharmaceutical returns can contain sensitive patient information, such as prescription and personal health information. Hiring a third-party for returns may expose this information to unauthorized parties and increase the risk of data breaches and identity theft.
Cost: Third-party returns services can be expensive, and the costs associated with outsourcing may not be offset by the savings from a more efficient returns process such as N3PR
Loss of control: By outsourcing returns, the company may lose visibility and control over the process, which can result in loss of creditworthy products and the ability to make improvements to the process.
Inaccurate returns processing: A third-party may not have the same level of motivation in returns processing as the pharmacy, which can result in inaccurate disposition in the processing of returns and incorrect credits being issued.
These are some of the common risks associated with outsourcing pharmaceutical returns to a third-party.