The Medicare Open Enrollment period presents enormous opportunities for pharmacies. But, did you know there are several other ways that enterprising pharmacies can lower DIR fees and strengthen profitability throughout the entire year? Starting right now, your pharmacy can increase revenue and improve patient communication, even if your current bandwidth for patients is stretched thin because of COVID-19. How is that possible? By leveraging technology and creating a strategy that spans the whole year, you can enhance your pharmacy’s standard of care and its bottom line.
What you can do today:
Former Indy Health Patients
As a result of Indy Health’s Medicare D coverage ending in Arkansas, Pennsylvania, West Virginia, Illinois, and Georgia, their former patients have until July 31 to complete their Special Enrollment Period (SEP). This means pharmacists should act today to capture these Medicare patients and assist them with comparing the best plans to meet their needs, but also find ones that have lower DIR fees. By using FDS-Amplicare's Connect automated software, your pharmacy can easily identify and reach out to these patients to inform them they have until July 31st to switch to a new plan. FDS-Amplicare’s Match can then help you compare plans with them while helping you identify the ones with the lowest DIR fees. Earn these patients’ loyalty today with hands-on care during this unique opportunity and you’ll increase profitability in the long run.
As multiple COVID-19 vaccines have rolled out, pharmacies have been inundated with an influx of new patients, as well as increased inquiries from their existing patients. From communicating how to schedule a COVID vaccine appointment to when patients are eligible for a second dose, and even letting them know if you have unused vaccines, there’s a lot of information your pharmacy needs to share. While this may be a challenging time to maintain a high level of care, it does actually present another great opportunity to grow your pharmacy’s revenue. When you make technology work for you, like automation, your pharmacy can streamline patient outreach and engagement for both new and long-term patients which improves retention and aids profitability.
What you can do in the fall during Open Enrollment:
During the busy time of Medicare Open Enrollment, it can be easy to let opportunities that could possibly reduce costs slip by when engaging patients. Patient loyalty can grow by 30% when your pharmacy takes the time to help them compare Medicare and Medicaid plans during the Open Enrollment Period. By improving communication methods with these patients, you’d find it’s not only possible to help them compare the right plans -- even while social distancing during COVID-19 -- but you can also actually reduce costs for your pharmacy with lower DIR fees. But, you first need the right tools to assist you to help simplify the process. Utilizing automated software will save you time when helping your pharmacy compare plans, and it will even find ways to maximize your pharmacy’s revenue while streamlining your workflow. This enables you to have the time to enhance your quality of patient care -- even while the patient is safely at home.
What you can do all year long:
Did you know Medicare Open Enrollment happens all year for Dual Eligible patients? That’s right, they actually have four windows throughout the year to enroll -- it’s like virtually every day can be Open Enrollment! So why not engage those 12 million Dual Eligible patients all year long? Dual Eligibles can switch their Medicare plan once each quarter between January and September. If you help the patient enroll into a plan that has no DIRs, your pharmacy will stop paying those fees for that patient INSTANTLY. Prioritizing these patients for plan comparisons is a quick and easy way to lower DIRs and instill patient loyalty while providing better care. That’s why it’s so important that your pharmacy has a software solution that can quickly identify these patients for you.
Year-round success is easy with FDS-Amplicare's solutions that empower pharmacists to promote better health outcomes while increasing profitability.
By integrating the most advanced pharmacy-focused software platform available, you can put time back on your side and strengthen your patient network with a year-round engagement strategy. FDS Amplicare's Match + Connect platforms can seamlessly position your pharmacy for success with streamlined processes that help guide patients through their Open Enrollment options throughout the year.
Ready to give your pharmacy a boost with sustained year-round growth today? Discover why thousands of pharmacies across the country trust Amplicare to simplify their patient engagement and grow their revenue.
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