Cash & Carry Dispensing
Cash and carry (private pay) medication dispensing is the most common and typically the most efficient and profitable type of dispensing program for most private practices. Whether or not your patients have prescription insurance coverage, cash and carry medication dispensing provides your patients with a convenient, confidential, and cost-effective alternative to picking up their prescriptions at the pharmacy.
Benefits of Cash & Carry Medication Dispensing
Pricing – Cash & carry medication dispensing is the most cost-effective way to provide medications to your patients at the point of care. When billing patients’ prescription insurance, Pharmacy Benefit Managers (PBMs) take a large cut of the medication profit, resulting in reimbursements to your practice that are often substantially lower than what you’d receive from a cash and carry patient. With PharmaLink’s pricing, you have plenty of room to mark up medications to earn a profit, while still providing cost savings to your patients relative to their cash cost or copay at the pharmacy.
Predictability – Unlike billing prescription insurance, your medication cost and profit are completely transparent and predictable. With insurance-based medication dispensing, the reimbursements you receive can fluctuate, and you may end up losing money (receiving a reimbursement that is lower than what you paid to purchase the medication).
Timing – Get paid immediately instead of waiting for unpredictable insurance reimbursements to arrive.
Simplicity – Cash & carry medication dispensing is the most streamlined type of dispensing program available. By eliminating insurance billing from the equation, you also eliminate the preauthorization process and all the painful administrative burden on your staff (phone calls, faxes, and paperwork).
Patient Decision Making Process
Patients with prescription insurance coverage will decide where to purchase their medications (from the pharmacy or directly from your practice) based on convenience, confidentiality, and cost. When comparing the cost of medications, patients will compare the cash cost at your practice to their copay at the pharmacy. PharmaLink’s competitive medication pricing will allow you to mark up the medications you purchase from us (earn a profit) and still offer patient prices that are competitive with most prescription insurance copays, creating a win-win proposition for your practice and your patients.
Patients without prescription insurance coverage will compare your prices to their cash cost at the pharmacy. For commonly prescribed medications, your patients will almost always save money (and time by skipping the trip to the pharmacy) by purchasing medications directly from your practice at the point of care.
For medications you don’t commonly prescribe, or for high-cost, branded, or specialty medications, you can always send your patients’ prescriptions to the pharmacy as you normally would. As part of the initial setup, PharmaLink is happy to review your prescribing history to recommend the best initial formulary for your practice, free of charge.
Cash & carry medication dispensing programs are easy to set up and operate successfully with no additional staff needed. With PharmaLink, the process is fast, easy, automated and compliant. Once you contact us to begin the process, your office can be up and running in as little as 72 hours if all requirements are met.
To get started, Contact Us today!
Workers’ Comp Dispensing
Prescription medications are the most widely used form of treatment after a diagnosis. PharmaLink’s Workers’ Compensation dispensing program improves the patient experience and optimizes patient outcomes (by minimizing barriers to receive care) while offering an additional revenue stream for your practice.
Benefits of Workers’ Comp Medication Dispensing
- For the Patient:
- Barrier free access to appropriate medications – no travel or waiting in lines at pharmacies
- Increased understanding of medication therapy and compliance
- Improved outcomes
- For the Employer:
- Quicker return to work
- Increased compliance, helping to avoid OSHA 300 reportable events by using OTCs
- Improved patient outcomes
- For the Practice:
- Monitor patient compliance
- Increased practice profit
- Increased patient understanding and satisfaction
- Improved patient outcomes
- For the Carrier
- Utilization of a generic formulary and OTCs
- Single bill for case worker
- Improved patient outcomes
Why Dispense with PharmaLink?
PharmaLink provides a turnkey workers’ comp dispensing solution that can be offered as a standalone service or in conjunction with our Cash & Carry solution.
Dispense medications with our easy-to-use web-based software and the system will prompt you for all required information. We bill the claims for you and issue payment to you in 30-60 days, net of a small billing fee.
Medication reimbursements are set on a state level and are typically based on AWP. We have full visibility into reimbursement rates and can help you set a formulary of your most common and most profitable medications.
Fraud and Abuse in Workers’ Compensation
Workers’ compensation reimbursement changes have incentivized a handful of unethical companies to launch programs and products with little to no therapeutic value. These products are designed to produce large reimbursements, costing the system millions of dollars, leading to reimbursement cuts and restrictions on workers’ comp medication dispensing in some states.
PharmaLink has never allowed these products to be dispensed through our system and we continue to achieve positive results with our customers as a result. Our billing solution has industry-leading acceptance rates from payors.
PharmaLink’s workers’ compensation dispensing solution is the perfect complement to your existing practice by providing additional revenue and improving patient satisfaction.
If you’d like to learn more or if you’re ready to get started, Contact Us today!
Private Insurance Dispensing
For practices that would like to bill their patients’ prescription insurance for medications, PharmaLink offers a comprehensive solution.
Benefits of Private Insurance Dispensing with PharmaLink
We will work with you to create the ideal medication formulary for your organization.
We will save your staff time, eliminating phone calls to and from insurance companies and pharmacies.
Credentialing and enrollment is fast and easy.
We eliminate your frustrations and training requirements for employees by understanding and handling hundreds of common error message sent back from payors, getting you paid faster and decreasing the number of claim rejections.
We handle the billing paperwork, allowing you to use your time, energy, and expertise servicing your patients, all while increasing your bottom line!
Adding PharmaLink’s medication dispensing system to your current services is a great way to generate additional revenue and improve patient satisfaction by offering a “full-service” solution. The system is easy to set up and we will be there to assist you every step of the way.
Are you curious about what medication dispensing could do to increase your profit margin? Contact us today to request more information and to get your practice started on the road to increased patient care and profitability, or to schedule a free 15-minute demonstration of our turnkey, easy-to-use software.
Customized Dispensing Programs
If your practice or clinic doesn’t fit any of the dispensing program types above, PharmaLink can create a customized dispensing program that meets the specific needs of your practice and patients. We have created customized programs for on-site employer health (worksite) clinics, student health centers, community health centers, and many more! Whether you’re providing the medications to patients at no charge, with a nominal copay, or some other payment structure, we can create program for you. Contact us today to discuss how PharmaLink can design a customized physician dispensing solution for your practice!
PharmaLink’s Store Manager web-based inventory management software has been designed specifically to help busy medical practices more easily manage their inventory. Store Manager may be used as a standalone inventory management solution or in conjunction with PharmaLink’s medication dispensing software to provide a complete end-to-end solution.
Features of PharmaLink Store Manager
- Manage and dispense any products provided to patients, such as:
- Meal replacements
- Bars and shakes
- Vitamins and supplements
- Medications: bulk or prepackaged
- Durable medical equipment
- Keep accurate inventory and patient dispense records
- Print a patient label with final instructions for product use
- Track expired or expiring products
- Create and print bar codes to quickly scan out products to patients. Track lot numbers and expirations on a per-item basis
- Provide management reports:
- Product profit and cost reports
- Inventory history
- Dispensing trends
- And many more reports to give you maximum visibility!
Contact us today to learn more or request a demo!