Meeting Title: Dissecting COGS Date: 2025-06-05 Meeting participants: Demilade Agboola, rebeccaemch
WEBVTT
1 00:03:39.310 ⇒ 00:03:40.780 rebeccaemch: How are you?
2 00:03:40.780 ⇒ 00:03:42.640 Demilade Agboola: Hi! I’m good. How are you?
3 00:03:43.110 ⇒ 00:03:44.610 rebeccaemch: Doing good. Thank you.
4 00:03:46.693 ⇒ 00:03:52.419 Demilade Agboola: So I wanted to reach out to like, understand how we’re calculating cogs.
5 00:03:53.050 ⇒ 00:04:05.170 Demilade Agboola: Like what that process entails. And just basically how that is just updated. Like as things go as things change. How is the cogs value? Also? Updated as well.
6 00:04:06.160 ⇒ 00:04:06.790 rebeccaemch: Okay. Sure.
7 00:04:06.790 ⇒ 00:04:07.110 Demilade Agboola: Fine.
8 00:04:07.915 ⇒ 00:04:18.610 rebeccaemch: So historically, we’ve been using our Eden product offering sheet to input all of our new products and all of our new cogs
9 00:04:18.980 ⇒ 00:04:33.669 rebeccaemch: associated with those products. Lately we’ve entered in like 50 different variations of semaglutide, with the personalized plans for multiple different pharmacies. So recently it has become
10 00:04:34.221 ⇒ 00:04:53.150 rebeccaemch: too cumbersome for Christiana to maintain that. So then we reverted to having bask download all of them inside of like a Csv format and sending that to you guys once a week with all of the different drugs, their variants, and all that fun stuff.
11 00:04:53.270 ⇒ 00:05:08.789 rebeccaemch: So I think that the key piece that you’re missing, though, whenever you get that downloaded and put it into your sheet, is cogs data. So that’s why I just shared with you what precision offered or what precision gave us
12 00:05:08.920 ⇒ 00:05:28.060 rebeccaemch: as far as our cogs data for the most recent product launches. So we’re not following our typical protocol or process, and we haven’t been ever since we started with all of these semaglutide variants which started happening around the 1st of April.
13 00:05:28.350 ⇒ 00:05:42.649 rebeccaemch: So that’s why we’ve seen a little bit disjointed, like transferring of information on cogs back and forth. But I’m happy to do it. However, you guys want to do it. If you’ve created a new database for all of these
14 00:05:42.880 ⇒ 00:05:50.969 rebeccaemch: products and variants to live. We can go in there. And we can input our cogs, you know, as we add those variants in.
15 00:05:51.650 ⇒ 00:05:55.609 Demilade Agboola: So actually, I think part of what cause I had like
16 00:05:55.810 ⇒ 00:06:00.469 Demilade Agboola: Josh had just mentioned that one of the things we could also just think about is
17 00:06:00.610 ⇒ 00:06:12.199 Demilade Agboola: fully understanding cogs where it comes from, how it’s being calculated. And if there’s a way we can make it easier for you. To keep it like updated. That would be very helpful.
18 00:06:12.689 ⇒ 00:06:26.759 Demilade Agboola: So that’s kind of, you know, part of where I was like. So where does the raw data. For like cogs like, how do we get the value for cogs for the different, like pharmacies and different variants like, how do we come up with that basically.
19 00:06:26.970 ⇒ 00:06:49.009 rebeccaemch: Yeah, the pharmacy just gives me a number. They just tell me what the cost is gonna be, and usually I’ll give them projections and based off of those projections. They’ll give me the tiered pricing, and whenever we hit like a certain 1,000 orders or 5,000 orders, or whatever it is per month.
20 00:06:49.010 ⇒ 00:06:57.779 rebeccaemch: Then they’ll decrease our cogs. I’ll ask for a cogs reduction, and they’ll typically give it to us like a certain percentage off. And then I’ll put it in.
21 00:06:57.780 ⇒ 00:07:02.729 rebeccaemch: or historically, we’ll put it in the analytics channel and then update the product offering sheet.
22 00:07:02.740 ⇒ 00:07:23.269 rebeccaemch: But now, I haven’t negotiated cogs since in April. So I’ve gotten a lot of cogs because we’ve launched a lot of new products. But all of our semaglutide has remained the same pretty much except for pharmacy. Hub, you know. Obviously, we’re getting new new products, new cogs.
23 00:07:23.290 ⇒ 00:07:23.800 Demilade Agboola: Yeah.
24 00:07:23.890 ⇒ 00:07:29.419 rebeccaemch: How do you want me to relay that data to you?
25 00:07:30.641 ⇒ 00:07:34.640 Demilade Agboola: So I’m assuming that the different pharmacies
26 00:07:35.320 ⇒ 00:07:46.169 Demilade Agboola: do. They have? I doubt you know this. But do they have an Api? Do they have this data living in their system that they can expose to us. Through an Api.
27 00:07:47.561 ⇒ 00:07:54.879 rebeccaemch: I don’t think so, I think. Well, I know precision just keeps it in a spreadsheet, which is the one that I shared with you.
28 00:07:54.880 ⇒ 00:07:55.300 Demilade Agboola: Okay.
29 00:07:55.300 ⇒ 00:08:00.149 rebeccaemch: And Boothwin maybe cause they do a lot of things electronically.
30 00:08:01.200 ⇒ 00:08:04.640 rebeccaemch: How would you want that to transmit over.
31 00:08:05.040 ⇒ 00:08:28.470 Demilade Agboola: So if they had an Api ideally like. If the the best case scenario is, if they had an Api, what would happen is every day we would call the Api for our data and kind of figure out, okay, so this is the cogs as of today. For these products with this pharmacy, and we can aggregate it across multiple pharmacies. And that way once, like the cogs, values changes on their system
32 00:08:28.800 ⇒ 00:08:35.500 Demilade Agboola: on the next, like Api call the following morning. We’ll get that data, and we can sort of start to like
33 00:08:36.580 ⇒ 00:08:50.089 Demilade Agboola: respond faster to Cox changes is sort of my, you know, the idea behind that rather than waiting, we get it from them, and then we upload it to bask all that, or bask sense to us, or, you know, uploading the sheets.
34 00:08:50.380 ⇒ 00:08:53.800 Demilade Agboola: We can be like faster to it, because sometimes.
35 00:08:53.940 ⇒ 00:08:58.819 Demilade Agboola: from the way it sounds, it sounds like there’s a slight delay in cogs transfer like.
36 00:08:59.120 ⇒ 00:09:03.859 Demilade Agboola: Potentially, you might have sold. So okay, we might have sold some variant
37 00:09:04.030 ⇒ 00:09:15.839 Demilade Agboola: for a certain price, using this and have cogs for a certain value. But that might have changed over, like, you know, over like a short period, maybe like a week, or, you know, a couple of days.
38 00:09:16.390 ⇒ 00:09:16.820 rebeccaemch: Okay.
39 00:09:16.860 ⇒ 00:09:20.799 Demilade Agboola: Old cogs to calculate like, you know, margins.
40 00:09:20.950 ⇒ 00:09:39.130 rebeccaemch: I think that’s a fantastic idea. And our pharmacies would probably be up for doing that because they input the price of the medication every time that they fill it, because that’s how they charge us. So have you talked with Sebastian about being able to do this within our Eden OS system?
41 00:09:39.426 ⇒ 00:09:52.180 Demilade Agboola: So I mean Josh asked me to reach out to you first, st just to get an idea of like what the process is, what cogs the cogs numbers are, and then reach out to the I believe you, said the Emr. Team.
42 00:09:52.931 ⇒ 00:10:03.210 Demilade Agboola: To the team that you know can therefore build that. And even if it’s not something we do like right here right now, but something in the roadmap for what we would want to do.
43 00:10:04.200 ⇒ 00:10:20.686 rebeccaemch: Absolutely. I think that that’s a fantastic idea. And they may already be planning to do that in our new Emr it’s called. They’re calling it Eden OS, so whenever I say Eden OS, I mean our own Eden Emr system. So
44 00:10:21.290 ⇒ 00:10:46.119 rebeccaemch: If I’m I’m sure that they probably have figured out some way to be able to receive all that information from the pharmacy. Hopefully, also, including Cox and how much they’re charging us, so that we will be able to see all of the data like, especially for you guys, you’ll be able to see all of the data within Eden OS. Instead of having to like, export it into tableau, or you know another system, or do all these workarounds.
45 00:10:46.450 ⇒ 00:11:00.193 Demilade Agboola: Yeah. I mean to be fair. We will still have to export it, but it it does give us like a central spot to export it from in the sense, and a central spot that is up to date. I think that’s the important part, you know.
46 00:11:00.940 ⇒ 00:11:03.790 Demilade Agboola: and as much as possible, you know, like
47 00:11:03.910 ⇒ 00:11:09.359 Demilade Agboola: imputing things manually. There’s always room for like human error, you know.
48 00:11:09.789 ⇒ 00:11:16.170 Demilade Agboola: Potentially. So I’ll put, you know, 2, 26 instead of 256, something like that. And
49 00:11:16.330 ⇒ 00:11:21.430 Demilade Agboola: you know we go off those numbers. So if we can be, if we can go around that and just have, like.
50 00:11:21.750 ⇒ 00:11:38.020 Demilade Agboola: you know, as much as possible, like limits. Whatever human interaction, in terms of like Api calls in terms of being able to transfer that data? Without necessarily relying on you know, a human like human interaction that would be definitely like ideal.
51 00:11:38.280 ⇒ 00:11:52.599 Demilade Agboola: So just being able to like, think of that system and have it in, like the 18 OS system, that we can then get it and then use it for the calculations we’re doing that pop up in the dashboard will be like fantastic.
52 00:11:52.980 ⇒ 00:12:06.579 rebeccaemch: Yeah, absolutely. That makes complete sense. So for now, until that is built out, would you prefer for me to just keep that sheet updated that I shared with you from precision.
53 00:12:06.820 ⇒ 00:12:17.729 rebeccaemch: or drop it into the analytics channel. If there are any changes in cogs and just like copy you in it. So that way you can update the back end accordingly, or
54 00:12:18.860 ⇒ 00:12:20.269 rebeccaemch: mail it until then.
55 00:12:20.270 ⇒ 00:12:29.510 Demilade Agboola: So my my question is, the changes that precision does. Are they different from the changes that would appear in bask like when you forward them to bask.
56 00:12:30.550 ⇒ 00:12:53.149 rebeccaemch: Bask does not have our cogs data, so they don’t know how much, except for for pharmacy. Hub, pharmacy, hub is the only pharmacy that they have cogs data on, so you can pull up from bask. But none of the other pharmacies are integrated like that, because we pay pharmacies directly for pharmacy hub. We pay Basque directly.
57 00:12:53.480 ⇒ 00:13:00.441 Demilade Agboola: Okay, okay, that’s fine. That’s fine. Alright. So I think what what we could just do is we can keep that sheet going for now.
58 00:13:01.140 ⇒ 00:13:08.652 Demilade Agboola: because that is still like the backbone of a lot of what we use for calculating cogs.
59 00:13:10.050 ⇒ 00:13:15.189 Demilade Agboola: and then, potentially, as we, you know, create like a roadmap for
60 00:13:17.090 ⇒ 00:13:22.219 Demilade Agboola: a new system where we’re integrating directly from the pharmacies. I think that’ll be very useful.
61 00:13:22.790 ⇒ 00:13:37.819 rebeccaemch: Okay, sounds good. So I’ll let you know whenever the sheet is updated, or Christiana will let you know whenever the sheet is updated with a new product. And what the cogs are. So that way, we can make sure that we’re doing it in the way that makes most sense for you guys.
62 00:13:38.000 ⇒ 00:13:39.695 Demilade Agboola: Okay. Sounds good.
63 00:13:40.410 ⇒ 00:13:46.560 Demilade Agboola: just to be sure. Let me give me one second. I just want to be sure that we are talking about the same sheet.
64 00:13:46.820 ⇒ 00:13:49.550 Demilade Agboola: So we go and sync on that.
65 00:13:50.330 ⇒ 00:13:51.899 rebeccaemch: The product, offering sheet.
66 00:13:51.900 ⇒ 00:13:53.960 Demilade Agboola: Yeah. The product offering sheet. Is it nice?
67 00:13:53.960 ⇒ 00:13:59.334 rebeccaemch: We can do that. We can update the 1st tab that lists all of the drugs.
68 00:14:00.180 ⇒ 00:14:09.660 rebeccaemch: we kind of stopped doing that for all the semaglutide. But we can probably enter in all of the other drugs that we’ve added in recently, other than semaglutide.
69 00:14:09.970 ⇒ 00:14:11.859 Demilade Agboola: Okay, that sounds good. That’ll be amazing.
70 00:14:12.370 ⇒ 00:14:13.190 rebeccaemch: Okay.
71 00:14:13.190 ⇒ 00:14:14.940 Demilade Agboola: Alright. Thank you very much.
72 00:14:15.190 ⇒ 00:14:16.519 rebeccaemch: Yep, thank you.
73 00:14:16.990 ⇒ 00:14:19.090 Demilade Agboola: Alright, then have a great rest of your day.
74 00:14:19.090 ⇒ 00:14:20.359 rebeccaemch: You too, bye.
75 00:14:20.360 ⇒ 00:14:20.920 Demilade Agboola: Bye.