We Focus on Independent and Long Term Care Pharmacies
While there are millions of nursing home beds across the country, this market has expanded to encompass other types of long term care patients. Many of our member pharmacies are now servicing assisted-living beds as well. An accurate total for these beds has not been established nationally, but current data estimates the number of assisted-living beds at 2.3 million. Concurrently, the number of hospice patients has increased dramatically over the past few years to an estimated 450,000. The government continues to increase the outsourcing of pharmacy services in jails and prisons, reporting estimated numbers of more than 2 million prisoners. The healthcare model continues to change and GeriMed is able to adapt and change in order to meet the needs of its customers. As more and more pharmacies start to service patients in different settings, GeriMed will continue to offer contracting and other services to assist independent pharmacies.
GeriMed maintains relationships with hundreds of member pharmacies representing corporations and pharmacy systems all across the country. These pharmacies, including those who have joined our group service organization exclusively, currently service millions of long term care beds. Our partners recognize that long term care pharmacies serviced by GeriMed consistently outperform others in compliance (calculated on dollars per bed).
At GeriMed, we pride ourselves in accepting only closed door pharmacies that service patients in long term care settings. We are the only group purchasing organization that consistently uses a visit to pharmacy locations as well as thorough application reviews to ensure “closed door” status to manufacturers. GeriMed also monitors purchases to ensure appropriate use by our members. We work with manufacturers to investigate inconsistencies in purchases and dispensing. By monitoring and protecting the integrity of the group in this way, GeriMed ensures that manufacturers will continue their partnerships with our members and us.
We Adapt to Our Members’ Evolving Needs
Because the focus of long term care pharmacy has expanded beyond geriatric patients in nursing homes, GeriMed has expanded its pharmacy services. Contracts to address the needs of jails and prisons, assisted-living, home care, mentally disabled, hospice, chronic psychiatric and sub-acute patients have been added throughout the years. A continuous goal of GeriMed is to expand its pharmacy services and contracts to meet the expanding needs of its membership. The contracts include a full line of parenteral and enteral products and plastics, pump rentals, packaging alternatives, forms, medical supplies, urologicals, and other miscellaneous products. GeriMed membership provides independent, closed door pharmacies with access to all contracts, both pharmaceutical and non-pharmaceutical.