Doctors across the nation are seeking ways to stem the leak of decreasing income, boost their bottom line and set themselves apart from their competition.
For some practices, it means adding medical spa services. However, the specialty may not lend itself to this channel or the doctors may not want to be associated with something that they may deem takes away their credibility of professionalism. For many internists and family physicians, the answer may be a return to dispensing prescribed medication in the office.
In case you may have worried that this would be an unethical practice, both the FTC (Federal Trade Commission) and the AMA ( American Medical Association) is actually in support of this idea.
How to Get Started
A turnkey solution is provided by a firm based in Florida, Scriptdispense, to medical facilities and doctors to help establish in-house dispensing. They claim that a medical practice can net between $5,000 to $10,000 in added revenue each month.
Strengthening Your Brand in the community
Patients like the convenience of getting their medications without having to go to another site and it is unique in today’s day and age, setting the practice apart from other physicians in the surrounding location. Less than 5% of prescriptions have been found to be dispensed at the point of healthcare service. This even includes hospitals and large healthcare facilities. This provides for a great mission statement or message for the office in “caring for as well as about the patient.” This not only retains current patients but increases satisfaction and promotes referrals of prospective new patients as well.
What’s further attractive about the practice of dispensing medicine is that simultaneous insurance claim submissions, assures reimbursement and provides the patient and the office with immediate and accurate payment/co-payment information.
Chuck Willen of Scriptdispense points out:
“The vast majority of patients have never experience ‘live adjudicated’ dispensing where they can use their insurance and pick up their medication at physician’s office”. according to Chuck Willen of Scriptdispense.
Increased Compliance
According to a study by Harvard Medical School, more than 20 percent of initial prescriptions are never filled, but when patients receive the medication at the time of their office visit, the medical staff can provide the proper instructions and address any concerns or hesitations the patients may have, resulting in higher compliance. This in turn, leads to better patient outcomes.
This seems like a win-win situation for all concerned.
What are your views? Share your thoughts in the comment box below.
