Pharmacy spend is the second largest cost center for skilled nursing and long-term care operators, second only to overhead.
The complexity involved in calculating and reviewing monthly pharmacy bills is significant. Combined with the amount most facilities are spending on medication for Medicare Part A residents, this represents an area ripe for errors, unnecessary costs, and waste.
SRX offers a software solution that automates the review of monthly pharmacy bills, reconciles pharmacy pricing and contract discrepancies, and identifies and submits all eligible rebates. As Scott Taylor, CEO explains, “Technology and automation are the only way long-term care operators can fully take control of their pharmacy spend. This is a critical cost-control opportunity for any operator interested in embracing innovation and having the tools needed for competing in this industry.”
On average, SRX customers are able to achieve 11% in cost savings, and enjoy significant increases in drug manufacturer rebates.
In short, SRX improves the bottom line for operators by providing control over the following:
- Analytics and reporting
- Waste and cost reduction
- Pharmacy contract pricing and terms
- Drug utilization (formulary)
- Drug manufacturer rebates
Call or schedule a demo today to see how much SRX can save your facilities and help you receive in rebates.
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SRX helps LTC operators realize the lowest net cost on pharmacy spend. We help our customers improve drug utilization, manage pharmacy relationships, reduce costs and waste, and maximize rebates. We are committed to transparency and accountability and guarantee our quarterly rebates are paid on time, every time. Contact us at 833 633 6833.
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