AWP
AWP (Average Wholesale Price) is an important pricing benchmark used in pharmacies and healthcare settings. It's like a suggested retail price for medications, similar to how cars have a manufacturer's suggested retail price (MSRP). While not the actual cost paid by pharmacies or charged to patients, AWP serves as a starting point for pricing negotiations and reimbursements. Healthcare professionals use this term when dealing with insurance companies, setting prices, or managing pharmacy operations.
Examples in Resumes
Managed pharmacy inventory and pricing using AWP guidelines to ensure competitive pricing
Processed insurance claims using Average Wholesale Price calculations
Supervised pharmacy operations including AWP price updates and adjustments
Typical job title: "Pharmacy Managers"
Also try searching for:
Where to Find Pharmacy Managers
Professional Organizations
Job Boards
Professional Networks
Example Interview Questions
Senior Level Questions
Q: How do you handle AWP changes and their impact on pharmacy operations?
Expected Answer: A senior candidate should explain how they monitor AWP updates, adjust pricing strategies, communicate changes to staff, and maintain profitability while ensuring patient access to medications.
Q: Describe your experience with implementing pricing strategies based on AWP.
Expected Answer: Should demonstrate understanding of markup calculations, competitive analysis, and balance between profitability and patient affordability, while considering insurance reimbursement rates.
Mid Level Questions
Q: How do you explain AWP-based pricing to customers or staff?
Expected Answer: Should show ability to clearly communicate pricing concepts to different audiences, explain basic pricing structures, and handle customer questions about medication costs.
Q: What factors do you consider when using AWP for inventory management?
Expected Answer: Should discuss how AWP influences purchasing decisions, inventory levels, and working with wholesalers while maintaining cost-effective operations.
Junior Level Questions
Q: What is AWP and why is it important in pharmacy?
Expected Answer: Should demonstrate basic understanding that AWP is a pricing benchmark used for medications and its role in determining medication costs and insurance reimbursements.
Q: How do you find and verify current AWP information?
Expected Answer: Should know basic resources for accessing AWP information, such as pharmacy software systems, pricing databases, or wholesale catalogs.
Experience Level Indicators
Junior (0-2 years)
- Basic understanding of AWP concepts
- Using pharmacy software for pricing
- Processing basic insurance claims
- Inventory management basics
Mid (2-5 years)
- Managing price updates
- Training staff on pricing procedures
- Handling pricing discrepancies
- Working with insurance companies
Senior (5+ years)
- Developing pricing strategies
- Negotiating with suppliers
- Managing pharmacy operations
- Implementing pricing policies
Red Flags to Watch For
- No understanding of basic pharmacy pricing concepts
- Unfamiliarity with pharmacy software systems
- Lack of experience with insurance billing
- Poor math skills or attention to detail
