The pharmacy industry is moving towards providing enhanced clinical services, and now is the time to act. Start laying the groundwork to deliver these services in your pharmacy in order to realize a meaningful impact on your patients and the financial health of your pharmacy.
For retail pharmacies, pricing often represents a missed opportunity. As the saying goes, ‘no money no mission’. Each year pharmacies lose thousands, even tens of thousands of dollars, due to non-competitive cash pricing, third party underpayments and eroding margins due to changes in inventory acquisition costs.
The pharmacy landscape is rapidly changing to include service-based approaches that are proving to be a major factor in healthcare reform. Pharmacists face a unique opportunity to embrace the role of a ‘primary-care pharmacist’ while maintaining their role as the purveyors of medicine.
Over the past four years, CMS has been transitioning from HICN to a new member number called the Medicare Beneficiary Identifier (MBI). Starting on January 1, all claims submitted to Medicare will require a MBI for claim reimbursement, even if the date of service is prior to January 1. Claims sent without a MBI will be rejected.
We begin a pilot program in Augusta, GA with a local pharmacy and a local food bank with goal of making a positive impact on food insecurity in the region. Through this collaboration, the program addressed both physiological and safety needs. By alleviating food insecurities for patients, we can help to improve their overall health and prevent patients from having to choose between buying their food or buying their medication.