Why LoyaltyRx Gives you a Greater Return for Your Investment

Question: Why is the consumer redemption rate so much higher than with other programs?

Answer: There are several key reasons for the greatly increased redemption rates of the LoyaltyRx card including: 

• Highest Pharmacy acceptance rate- all retailers who accept visa are bound by contractual obligation to accept our banking industry backed LoyaltyRx card
• Greater Patient reach- Reaches and rewards all of your patients (both cash payers and those covered by insurance).
• Higher perceived value for customer- Customer sees card as cash discount

Question: How can the LoyaltyRx card get me a greater ROI on my programs?

Answer: The LoyaltyRx card provides the highest level of return of any incentive based card  

1. Reusable - the LoyaltyRx card was designed to be reusable by the consumer (if you allow it, based on business rules). This means you don’t have to deploy a new card for each use. Scalable offers can be given to patients to incent them to keep using your drug (IE: up to $15 for first use, $20 second, $25 for third script etc.). Each reuse of the card increases your program ROI and decreases your cost per use.
2. Applicable to all your patients- Where most other cards only reward cash payers, the LoyaltyRx card can reward all of your patients (both cash payers and those covered by insurance). This ensures complete coverage for your programs.
3. Limit spending to individual Patient Co-Pay - Eliminates spending waste by matching funds dispensed to individual patient co-pay amounts. Reduces your dollar outlay, increases overall program ROI
4. Increased redemption rates -
   1. The highest trade acceptance level (99+ %)
   2. Greatest Patient reach – both cash payers and co-payers derive benefit
   3. Highest perceived value for customer- Customer sees card as cash discount
5. Not "pre-funded" - Unlike other cards who load your money on a debit card in advance. Money is not loaded on the LoyaltyRx card until the patient is confirmed to have purchased the product and strength you require
6. Reduced Fraud- The only card that has 3 security measures which are cross referenced to prevent fraud:
   1. Individually Numbered Cards - Enable patient tracking
   2. Cross Reference Numbers - Bank VIN 16 digit number and the adjudicator Rx ID on card.  Each unique numbering scheme will be cross referenced to prevent fraud.
   3. Double encrypted MAG strip - Patented Double encrypted MAG stripe In addition to the 2 unique number schemes (16 digit bank VIN and Rx ID) increase card security.

 

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