More Dispensing Physicians – Fewer Healthcare Costs!
As the healthcare sector continues to strive for better policies and methods that could make affordable health care possible for all, the role that point of care dispensing physicians plays in improving the cost-effectiveness and quality of healthcare in the market today cannot be overstated or underestimated.
Furthermore, an in-office dispensary such as BRP Pharmaceuticals offers both the patients and the medical practitioner ample benefits. As an ancillary revenue stream for the dispensing physician, in-office dispensing provides convenience to the patient as it saves them a trip to the pharmacy, improves therapy compliance levels as well as patient-physician relationships.
Right now, only 10% of private practices offer ancillary services such as in-office dispensing. And although this number is on the rise, the fact that it hasn’t been entirely embraced is costing the healthcare sector billions in “Missed Meds” yearly.
According to an article published by USA Today, “Missed Meds” could cost the health sector more than $250 billion a year. “Missed Meds” are in simplest terms, a situation where a patient forgets, refuses to or for some reason doesn’t take their medication thus causing their ailments to either worsen or metamorphose into one that could be deadly and cost a lot more during treatment.
Research shows about 30% of patients do not fill their prescriptions when they leave the point of care without medications. Patient therapy compliance rates, however, spike dramatically with in-office dispensaries in place.
A 2007 study suggested that 75% of the surveyed patients surveyed opted for in-office dispensing if given the choice. 84% highlighted on the convenience it offers, and 62% said point-of-care dispensing would help them manage their health better.
So apart from saving an excess of $250B yearly in the health sector, what other economic benefits does physician dispensing offer?
If there are more dispensing physicians in the health sector, the price paid for missed meds would be significantly reduced.
But, it doesn’t just stop there.
An in-office dispensary is a business even as it offers convenience to patients and increases therapy compliance levels, it also increases the revenue generated by the practice. This means the government can also generate revenue when they tax these in-office dispensaries. So it’s basically a win-win situation for the healthcare sector, the patient, and the practice.
If you are a physician contemplating why you would need to partner with BRP Pharmaceuticals, then here is:
Why your practice needs point-of-care dispensing
With an increasing number of patients opting for convenience over the “traditional” protocol of having to journey to the pharmacy and less than 10% of physicians dispensing medications to these patients, POC dispensation is the absolute win-win model.
The average physician today writes free prescriptions daily for their patients, but is not generating any income from those prescriptions; however, the pharmacy representatives are benefiting financially. With on-site dispensation, your practice is most likely to generate an approximate $8-$10 per prescription.
Depending on the influx of patients to your practice, this sum could accumulate to $800 to $1000 per week in revenue with an average patient visit count of 100 patients weekly. This is not to mention the expense physicians would save on pharmacy call-backs with physician dispensing.
Got more questions about physician dispensing?
Contact BRP Pharmaceuticals today
1919 N. Victory Place
Burbank, CA 91504(877) 885-0882
BRP has been in the pharmacy business for over 100 years and repackaging medications since 1980. Today, BRP is a trusted provider to over 2000 physicians, clinics, and pharmacies across the United States, servicing clinics across 32 specialties.
BRP has access to the broadest range of quality pharmaceuticals, building strong relationships with various manufacturers and distributors to gain access to all generic and branded products. If a clinic needs a product we either have it or will find it for them.
Adding BRP Pharmaceuticals medication dispensing system to your current services is sure to increase your revenue and patient satisfaction.
Wouldn’t you rather have an FDA and DEA licensed company dispensing your medications?
Get in touch today!