According to a nationwide study by Advanstar Research, the top three reasons why physicians are offering ancillary services include:
- Patient Convenience (64%)
- Consistency of Care (58%)
- Increase Revenue (53%)
According to a 2010 survey by The American Medical Association, physicians are spending an average of 20 hours per week on prior authorization activities. A 2011 study by Health Affairs estimates prior authorizations cost each physician an estimated $80,000 per year on average. Each physician is spending 1/2 to 1 hour on pharmaceutical matters each day for no revenue. For every three physicians there is the equivalent of a full time employee handling pharmacy issues for no revenue. This overhead totals about $30,000 annually per physician in order to comply with pharmacy and payer/PBM requests. This overhead creates no revenue. Integrity Dispensing can replace this overhead to deliver medications so the physician can provide better health care while increasing practice income.
Payers and other healthcare constituencies benefit from improved medication compliance and adherence. Physicians know that his or her patients receive their needed medications resulting in higher overall outcomes, resulting in lower overall medical costs. Payers benefit from lower short-term and lower long-term health care costs incurred by patients.
You are taking the time and effort to consider which medications are best for your patients health. Now you collect the profit from all your hard work, rather than giving it to the retail pharmacy.
Retail Pharmacy are making tons of money and do not substantially contribute to patient care. This is outrageous! Meanwhile, payments to doctors have been decreasing!
Keep your Independence! In the environment of increasing practice costs, decreased reimbursements, and practices selling to large health systems, with in-office dispensing you can potentially double your income and keep your independence and continue to provide excellent care your way rather than follow the rules of corporate medicine.
Patients can have monthly medical follow-up and prescriptions medications in one trip. No need to go to local retail pharmacy. Studies show up to 20% of prescriptions go unfilled!
There is absolutely no increased cost to the patient at all.
Decreased Workload For You and Your Staff
Your medical practice already spends numerous hours/week dealing with pharmacy issues, pharmacy call backs/faxes, and prior authorizations. In-office dispensing helps eliminate these tasks. Now you and them can continue to focus your time/energy to improve patient care and the patient in-office experience.
Pharmacies Are Already In The Business Of Medical Care
Pharmacies are already implementing “mini medical clinics” in their stores. It is only fair that doctors who are doing all the real work implement an in-office pharmacy.