The year 2017 and early 2018 have been quite a whirlwind for the pharmacy industry. In terms of market performance, dollar growth remains in the low, single digits, following the Hepatitis C bubble in 2014 and 2015.
It always comes back to the foundation and infrastructure. No matter how swanky the front end or conscientious the staff, if your hardware is not up to speed (figuratively and literally), or if it does not offer the functionality you need to manage your workflow and support your customers’ demands, then you are struggling unnecessarily, which can affect your profits and your business.
Your pharmacy management software and how it handles ancillary services is the lifeline of your community or long-term care pharmacy. Every pharmacy’s goal is to grow and maximize profits while ensuring the best patient outcomes, and keeping your software up to date is a vital part of making sure you have the tools you need to reach your goals.
In an effort to be proactive, QS/1’s market analysts and sales team keep their fingers on the pulse of what’s happening in the healthcare and pharmacy industries. The industries are in constant flux, so ideologies, practices and technology are as well.
Pharmacies and Home Medical Equipment (HME) providers can gather patient data to improve patient medication adherence, set up synchronization programs and increase revenue.
Medicare is a beneficial program for Americans who are over age 65 or have certain disabilities, but providers sometimes find compliance issues a challenge. An understanding of mandates and how to properly submit claims will ensure organizations are reimbursed for Medicare Part B-covered medications, equipment and supplies, such as nebulizer-inhalation medications, oral immunosuppressive drugs and diabetic testing supplies. Occasionally, providers may unknowingly submit noncompliant or even fraudulent claims for the products and services they offer.
When the Meaningful Use process started, practices started being more diligent in collecting Business Associate Agreements from all their contractors who had access to their software.
Meeting today’s challenges in the HME, pharmacy and supply industries is one of great frustration. Between payer audits, the Affordable Care Act (ACA), gaining patient chart notes and the inevitable transition to ICD-10, many providers feel they would rather shut their doors than maneuver through the mine field.