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Latest news and updates about the Medicare and pharmacy industries.

Don't Let Outdated Pharmacy Software Hurt Your Bottom Line During Open Enrollment

Posted on November 17, 2020 by FDS Amplicare Team

As a busy pharmacist, you don’t have time to compare plans for every patient, reach out to them all individually, estimate the impact DIR fees could have for each individual scenario, and then present the best care options to everyone.

Like most pharmacists, during Medicare Open Enrollment, your bandwidth is even more limited than normal due to the influx of patient inquiries. That’s why it’s essential to consider updating your pharmacy software to automate key tasks and maximize savings for both your patients and your pharmacy without sacrificing the quality of care.

The fact is, not all pharmacy software is created equal. If your system is old or simply outdated, you’re likely missing out on key innovations and features that could significantly impact your bottom line.

Let’s go over the problems with outdated systems and how cutting-edge pharmacy software can boost your store’s cost-savings, improve the quality of patient care, and streamline your processes during Medicare Open Enrollment and beyond.

Problem 1: You can't easily communicate with all your patients from the comfort and safety of their homes.

Especially during Medicare Open Enrollment, you simply don't have the time to keep calling all your patients to make sure they have the information they need to make the best decisions possible. But you can still provide excellent patient care using modern pharmacy software during the COVID-19 pandemic. FDS Amplicare’s Navigate feature lets you save plan comparisons and share the relevant information to each of your patients digitally.

This digital outreach tool is ideal for protecting your patients and maintaining social distancing. They can then compare plans from the comfort of their homes and easily contact you if they have questions or need additional details.

In this way, you can reach out to your entire database without the time-consuming and potentially risky task of individual outreach or requiring them to see you in the pharmacy.

Problem 2: You can't quickly answer questions about patients’ plans to help them shop.

Your patients will likely have questions as they shop for new plans or look to enroll for the first time. Specifically, they might be worried about whether their preferred doctor will be in their new network, how the out-of-pocket costs of their medications might change, and which plan is best for their overall needs.

To help patients through this process, our pharmacy software puts all the tools you need at your fingertips. With tools such as our Doctor Lookup, Formulary Lookup, Formulary Restrictions Next Year, Drugs Not Covered Next Year, and More Affordable Option, you can better inform your patients about plans to meet their needs and budget.

Problem 3: You can't easily identify win-win opportunities for you and your patients.

Unfortunately, pharmacists often lack the clear and easy-to-understand reporting they need to quickly identify high-value opportunities. With modern pharmacy software, actionable reports are just a click or two away, so you can focus your efforts on finding the best opportunities to improve the quality of care and the bottom line.

FDS Amplicare’s Win-Win report identifies plans that could significantly cut costs for you and your patients without requiring them to switch doctors or make any other significant changes. It’s a tool that helps everyone mutually benefit through increased savings.

Problem 4: You don’t have easy visibility to which patients are newly eligible or which patients are slipping away.

During Medicare Open Enrollment, you’ll also want to provide extra guidance to patients who are newly or dual eligible. You can identify affordable plans for newly eligible patients, or look for cost savings for dual eligible folks.

FDS Amplicare makes this process seamless by providing automated reports for these special segments. At the same time, you can identify other groups such as your most valuable current patients and patients slipping away in order to concentrate your outreach and care efforts on these high-value patients.

Problem 5: You don't have insight into hard-to-find DIR fees.

Did you know Medicare Open Enrollment is the best time to reduce your DIR fees for the upcoming year? Unfortunately, DIR fees might not be easy to identify in some plan contracts, which is why pharmacy software like Amplicare can reveal hidden fees and help you get a better estimate of your DIRs for the coming year.

That’s not all: FDS Amplicare automatically crunches the numbers and identifies plans that will save you and your patients money. DIR fees are heavily based on your pharmacy’s medication adherence levels so our platform finds plans that help you and your patients save based on their level of adherence.

What exactly does this strategy look like in practice? If a patient is highly adherent, a plan that rewards high adherence is optimal. If they’re not very adherent, you can identify plans that don't penalize you for it without compromising the quality of care so you both can save.

Problem 6: You don't have a way to automate processes to improve medication adherence.

Finally, modern pharmacy software like FDS Amplicare can improve your pharmacy’s end-to-end performance. In turn, improving these metrics can cut your DIR fees and boost your store’s cost-savings.

One of the ways our platform does this is by offering automated digital tools related to medication adherence. Generally speaking, medication adherence involves making sure patients refill and pick-up their prescriptions, so modern pharmacy software helps by automating refill reminders, for example. 

Ultimately, outdated pharmacy software could be hurting your bottom line and impacting the level of care your patients receive. To make the most of high-value opportunities this fall, you’ll need a modern system that provides easy-pull, automated reports to give you the insight you need.

Using platforms like FDS Amplicare can enhance the quality of your patient care - and help you and your patients save big during Medicare Open Enrollment. Interested in getting more tips to help successfully navigate the enrollment period this fall? Check out our ultimate guide below to get started.

[Get Our Ultimate Guide for Medicare Open Enrollment]

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