Recent advancements in pharmacy software offer many opportunities to increase your Return-on-Investment helping Medicare patients. We’ve looked at the data and found some key strategies to build a competitive advantage.
Created by the Centers for Medicare and Medicaid Services (CMS) in 2007, the Star Rating System is designed to incentivize Medicare Advantage and Part D plans to provide higher quality care. The rating also informs patients how well a plan performs, generating more transparency in the healthcare marketplace. High-performing plans enjoy rewards, like bonus payments and greater marketing opportunities. Plans that perform poorly, however, can experience serious penalties
On the surface, catastrophic healthcare coverage is a great thing. For the 44.5 million Medicare beneficiaries enrolled in the Part D program for self-administered prescription drugs, this coverage phase is designed to make out-of-pocket costs manageable, once drug spending crosses a certain threshold. Without it, many patients with chronic health conditions would not be able to access their medication.
But something has gone horribly wrong…
Studies predict a shortage of up to 121,300 physicians by 2030. This means access to primary care physicians is becoming more difficult. However, 9 in 10 Americans have a pharmacy within 5 miles of their home according to NACDS research. The pharmacist will become more and more important as an overall healthcare consultant.
Chris Cornelison, PharmD and Owner, Iuka Discount Drugs, Iuka, MS reveals the benefits of Med Sync and the best way to include it in the pharmacy workflow.