It is tough being a physician today.
As physicians, we are faced with the reality of a 21st-century U.S. medical practice: reams of time-consuming paperwork that is out of proportion to time spent caring for patients, declining reimbursements from insurers, a loss of autonomy from managed care, and fear of malpractice lawsuits. Add governmental encroachment, and the maze of bureaucracy, all of which threaten the quality of patient care, and weigh down our medical practices.
RxWithin offers one small solution to the problems of practicing medicine these days and that is to help you, as a dispensing physician, survive the economic realities of medicine today.
A growing number of physicians around the country are utilizing Physician Dispensing purely for the patient benefits the practice can provide. Physician Dispensing, also known as Point of Care Dispensing, is a process where physicians provide complete prescriptions rather than hand out samples, saving their patient a trip to the pharmacy. Physician offices that incorporate this into their routine can provide significant benefits to their patients at a price that provides profitability to the physician's practice while not costing the patient any more than they would have paid at their local pharmacy.
Directly providing medication to your patients is a change that is viewed by both patients and third party payers as a progressive and responsive practice which is cost effective and speeds the healing process by improved compliance and better patient communication.
RxWithin provides pre-counted prescriptions to primary care physicians who dispense medication to patients from their offices or clinics on a fee-for-service basis.
PHYSICIAN & PATIENT BENEFITS
New Revenue Stream For Your Practice: Dispensing prepackaged Unit-of-use drug products directly to your patients is a well established process that can generate from $25 to $150 thousand dollars in new revenue utilizing your current patient base. In office dispensing is extremely cost efficient, requires virtually no additional staff time. Physicians are struggling with finding ways to increase their income with many patients on managed care plans such as PPOs or HMOs. Not following an insurance carrier's formulary compliance can cost you a lot of money when prescribing too many of the "wrong drugs" (medications the insurance carriers don't want you to prescribe) to your patients. Dispensing medication directly to your patient reduces this problem dramatically since the claim is never turned in to the insurance carrier. There are no risk pool worries with point of care dispensing.
Today, approximately 4 out of 5 physician office visits leave with at least one prescription representing approximately 5 billion prescriptions dispensed each year. This volume is expected to increase by the year 2008 to 6 billion. The Institute for Safe Medicine Practice has estimated that pharmacist make 150million calls to physicians, asking for clarification, a time-consuming process that is costing your practice more than you know.
So, what is the bottom line? If your organization averages only $7.00 profit per prescription and sees 50 patients a day, that could provide annual profits in excess of $100,000.
Reduction in Error Rates.
Potentially fatal error rates (wrong drug, wrong strength or wrong dosage) in retail pharmacies are approaching 5% in some cases. Cross-contamination in pharmacies is virtually 100%. The country's major drug store chains are increasingly relying on pharmacy technicians, often as young as 16 with little training, to fill prescriptions involving even the most powerful drugs. Sometimes, there are tragic results. Incorporating DSI's unit-of-use products to your patients reduces the likely hood of these serious pharmacy related errors.
No Insurance Formulary to Deal With:
No need to comply with the insurance carrier's formulary because no claim is ever sent in to the insurance provider and thus there are no worries about whether the claim will be fully paid.
Saving Time and $ = Happier Patients:
Many patients do not have drug or medication benefits and the cost to obtain drugs in a pharmacy can be very expensive. Many of the generic drugs a physician would carry in a Physician Dispensing program have very reasonable wholesale pricing making the retail price to the patient very affordable. And the convenience of getting your prescription filled at the doctor's office and going home to bed is very appealing to every patient.
Improved Patient Therapy Compliance: It is a known fact that many patients leave the physician's office and never fill their prescription. Pharmacies report this statistic could be as high as 30%. Doctors can now be certain that the patient has the necessary medication and has taken their first dose right in their office.