GeriMed Tools for Long Term Care Pharmacies
To complement our array of helpful services, GeriMed has developed a set of equally useful pharmacy tools. These member benefits interpret data, generate detailed reports, and allow access to information that can help pharmacies develop proactive business strategies. With GeriMed’s total package of pharmacy resources, your long term care pharmacy can experience the competitive advantage of a GeriMed partnership.
Please review the list of pharmacy tools below, and see what our programs can do for you.
Contract Pricing Portfolio
A web-based software program, the Contract Pricing Portfolio is available as a complimentary tool from GeriMed. This Windows-based program allows members to view contracted items in a variety of formats. This information is updated daily and can be found in the Members Only section.
GeriTrac Invoice Analysis
GeriMed offers an electronic review of invoices for all of our member pharmacies’ wholesale purchases. We analyze this data for discrepancies between contract pricing and the actual prices paid by our clients. We then send a spreadsheet report to our members and their wholesalers to ensure that members receive the appropriate pricing for their dates of purchase. Proper attachment to the GeriMed contract also ensures the pharmacy receives all achieved rebate dollars. Wholesalers have agreed to review reports prepared by GeriMed because they are consistent and an actual human analyst reviews the data for accuracy before sending them.
Incentive Tracking (Rebate Reports)
To facilitate accurate incentive recordkeeping, GeriMed sends our members special quarterly reports so that they may review incentive payments over the most recent 12 months. With this information, members can determine how well they are performing on special incentive programs and can identify the dollars saved through these programs.
Best Buy Reporting
Through Best Buy reporting, GeriMed shows pharmacies any purchasing opportunities for generic products that are priced below what they are currently paying. At times, ensuring that a long term care pharmacy always purchases the correct generic product can be difficult. Wholesalers promote their source program products and may not always list the less expensive GeriMed product on their ordering screens. The Best Buy report can be used to ensure pharmacies are aware of the lowest priced product available.
This software program allows GeriMed member-pharmacies to navigate the products on formulary with each of the Medicare Part D PDP and MA-PD plans. Members can see which drugs are on formulary. Furthermore, if the drug in question is not on formulary, members can see the drugs in the same therapeutic class that are on formulary. The program also allows pharmacies or caregivers the opportunity to enter medications from a patient’s profile to determine which plan is the best for the patient. This software is available in GeriMed’s Members Only section.
GeriMed Profiles is a consultant pharmacist software. It assists the consultant in accurately providing the patient with a complete medication management review. This software offers a complete program for pharmacy consultants inputting data when reviewing charts in nursing homes and assisted living facilities. It has extensive reporting tools and clinical algorithms on pertinent geriatric disease states. The program is updated frequently and enhancements are generated in response to suggestions given by current users. If you are providing hospice care, please ask about Profiles’ hospice module.
GeriMed Forecasting Reports
GeriMed generates quarterly reports detailing each pharmacy’s purchases, current volume and market share (for relevant contracts). These reports illustrate exactly how much has been purchased during the period and also outline the additional purchases needed in order to reach the next tier of the contract. These reports are also available online throughout the quarter via member login.
GeriMed Claim Audit
This program compares the amount paid by the Medicare Part D plan to the amount negotiated in the contract. If the pharmacy receives less than the amount due, these discrepancies are reported back to the pharmacy and/or to the plan for resolution. Many discrepancies are under billed, where the pharmacy bills an amount lower than the contracted amount. These reports are returned to the pharmacy to ensure that they bill the appropriate amount.