CoverMyMeds’ Post

The impact of our partnership goes beyond managing benefits—it's about transforming trajectories. Consider this case study: In 2019, a health system with in-house pharmacy services faced customer service and plan design control challenges. Appro-Rx stepped in as their pharmacy benefit manager, empowering the health system to regain control of their pharmacy benefits. As their PBM, we: - Implemented and managed a customized formulary - Enhanced customer service standards - Increased preferred network utilization - Transitioned specialty medication management to an in-house specialty pharmacy - Significantly reduced overall costs - Funneled all manufacturer rebates directly back to the plan (employer) In just four years of implementing Appro-Rx's Step Therapy Program, this health system realized a savings of $1,089,702.71. Curious about how we can achieve similar results for your organization? Contact us today! https://www.approrx.com/ #pbm #pharmacybenefitmanager #benefitsmanager #pbms

As pharmacies shift into the role of "healthcare hub," it's important to remember challenges may stem not from a lack of services offered at pharmacies, but from a lack of optimization of those services. With an expert system like OrderInsite you can optimize intelligently, allowing you to spend time and money where it counts. Read the full story from Axios. #HealthcareInnovation #PharmacyTransformation #FutureofHealthcare #Pharmacy

Pharmacy pricing, redesigned. Imagine a world where healthcare isn't a luxury, but a basic right. Welcome to the revolution led by cost plus model pharmacies. Pivoting away from the traditional markup method, these pharmacies are implementing a cost-plus pricing model. This unprecedented approach charges consumers the actual cost of the drugs plus a flat dispensing fee. No longer shrouded in the mystery of price markups, this transparent pricing model is a game-changer. Suddenly, access to life-saving medications is within the reach of many who previously found it unaffordable. And the effects are seismic. Communities are witnessing an increase in the number of filled prescriptions. Individuals are adhering to medication regimens, improving health outcomes. And most importantly, the financial burden on patients is decreasing dramatically. The cost plus model pharmacies are not only redefining affordability, they're reshaping the landscape of healthcare accessibility. They're proving that the right to health should not be a function of wealth. Now, it's up to us to amplify this revolution. Share this post and let's raise awareness about the immense potential of cost plus model pharmacies. Let's join hands to make healthcare a universal reality.

The PrimeRx.io platform from Micro Merchant System offers pharmacies the tools they need to build healthier communities. The features and tools improve front-end and behind-the-counter pharmacy operations and identify cost-saving opportunities for patients so pharmacists can focus on what matters most – their patients’ health. Check out the full #industryspotlight below!

Discover the untapped potential of health system pharmacies⚕️ Two recent McKinsey surveys reveal five top-of-mind considerations for health system pharmacy leaders as they manage margins, enhance patient access, and position pharmacies as strategic sources of growth. Here’s what pharmacy leaders told us: ➡Cost optimization is a primary goal ➡Supply chain shortages threaten pharmacy operations ➡Staffing shortages are prevalent across all pharmacy roles ➡Pharmacy presents nontraditional growth opportunities ➡Investing in innovative partnerships could yield myriad benefits Read the full article below👇 #HealthcarePharmacy #GrowthOpportunities #PatientCare

Rethinking the Pharmacy World is Overdue. Recent news about dangerously understaffed retail pharmacies is a wake-up call. It's time we challenge the status quo. Take a moment to visualize a world where pharmacy services are patient-centric, streamlined, and never understaffed. Where patients aren't just numbers, but pivotal aspects of the healthcare equation. Isn't it high time we prioritize quality over quantity? I believe it is. This transformation begins with you, me, and everyone who cares about patient health. Let's revolutionize, innovate, and bring a welcomed change to the pharmacy sector. Ready to join the movement? Let's start a conversation.

Our blog post, 'Empowering Pharmacy Owners: Leveraging Data for Strategic Decision-Making' provides insights into how you as a pharmacy owner can make decisions that drive success. Explore the insights here: https://lnkd.in/ew-6W7wp

Pharmacies: Stuck in the 18th century? Not anymore. Once upon a time, pharmacies were the brick-and-mortar establishments dispensing pills in little orange bottles. But like dinosaurs, that model is becoming extinct. And that's surprisingly a fantastic thing. The traditional model has been failing us. It's impersonal, inefficient, and costly. Standing in long lines, deciphering illegible prescriptions, the constant fear of errors. We've all been there, haven't we? Enter the digital age. Telepharmacy is here to revolutionize the way we get our medications. With the power of technology, we're witnessing a paradigm shift. Online consultations, digital prescriptions, and doorstep delivery are the new norms. And it's not just about convenience. It's about personalized care. Digital platforms can track patients' medication history, prevent dangerous drug interactions, and even provide virtual counseling. That's a level of care the old-school pharmacy model could never offer. The death of the traditional pharmacy model is not a loss, it's an evolution. It's a step towards a future where healthcare is not just accessible, but also personalized and efficient. So let's embrace the change. Let's welcome a future where pharmacies are not just drug stores, but healthcare hubs that put patients first. What are your thoughts on this shift? Do you see more positives or negatives in this evolution?

The untapped potential of health system pharmacies⚕️ Two recent McKinsey surveys reveal five top-of-mind considerations for health system pharmacy leaders as they manage margins, enhance patient access, and position pharmacies as strategic sources of growth. Here’s what pharmacy leaders told us: ➡Cost optimization is a primary goal ➡Supply chain shortages threaten pharmacy operations ➡Staffing shortages are prevalent across all pharmacy roles ➡Pharmacy presents nontraditional growth opportunities ➡Investing in innovative partnerships could yield myriad benefits Great job Brianne Bowen and team! Read the full article below👇 #HealthcarePharmacy #GrowthOpportunities #PatientCare