What happens after a Reverse Distributor closes a crediting cycle?
Despite the best recovery efforts on the part of a Reverse Distributor (RD), the returns crediting process can take several months and sometimes even a year or longer, particularly when it involves third parties, like manufacturers’ designated processors and program wholesalers.
Does your RD keep the credit recovery process open for a specific period of time? What about credits that haven’t been recovered within that timeframe? And most importantly, what happens to the credits issued and reported beyond that date, once the Reverse Distributor (RD) considers the cycle closed? Be sure to ask these questions and more, as answers may vary amongst RD.
GRx keeps a crediting cycle open for distribution for approximately 12 to 14 months. We follow up with both manufacturers and our program wholesalers to facilitate the prompt issuance and reporting of credits for inclusion in periodic distributions for active cycles.
However, when a cycle ages past that point, unrecovered credits are not abandoned. They remain on our continuous open credit inquiries to both manufacturers and wholesalers until either:
- Credit is issued and reported OR a reason for denial is provided
Credits issued and reported beyond their cycle’s distribution term are simply rolled forward to an active distribution cycle, appearing as an addition to credit, complete with the cycle of origin information, on your Credit Status Report.
If you no longer have any actively distributing cycles with GRx, your credit will be funded to GRx by the reporting wholesaler and paid to you in the form of check. Your credits won’t age out, even if the returning cycle does. And you don’t have to do a thing!
The best way to take the mystery out of the returns process is to ask the right questions. At GRx, we’ve got the answers.
Contact us or give us a call at 1.800.473.2138 to learn more or if we can be of assistance with your next expired product return.
