GeriMed Services for Long Term Care Pharmacies
GeriMed has invested an amazing amount of experience and talent in developing several unique pharmacy services, each aimed at maximizing profits. Taking advantage of these resources gives independent pharmacies an edge when competing with larger pharmacies.
At GeriMed, we are always ready to work with you, so ask yourself: How might these resources benefit your long term care pharmacy?
Long Term Care (LTC) Knowledge Base
GeriMed specializes in long term care pharmacy operations, reimbursement and consulting. With more than 65 years of long term care experience and an extensive support staff focused on long term care pharmaceuticals, we are the industry leaders in providing contracts and services that work. If you’re starting a new pharmacy, GeriMed can assist you with making your initial purchases, obtaining reimbursement and accessing the proper channels to work with nursing homes and other facilities.
Long Term Care Contracts
GeriMed provides contracts with all necessary pharmaceutical manufacturers, along with an extensive portfolio of non-pharmaceutical contracts. These contracts are negotiated to meet the needs of long term care pharmacies and include thousands of available line items from brand and generic manufacturers. GeriMed awards contracts based on the best prices and the highest levels of FDA-approved quality available.
Choice of Wholesaler
GeriMed encourages members to choose suppliers based on their specific needs. Our pricing is loaded with all the major national wholesalers and most regional wholesalers. Many products are also available directly from the manufacturer for added flexibility. GeriMed maintains integrity with its clients by consistently offering competitive contract pricing.
Manufacturers work with long term care pharmacies in order to provide quality products to the unique class of trade. GeriMed offers special incentive programs designed to maximize discounts to members for products with clinical efficacy in geriatric patients and patients with chronic medical conditions. Brand products for these programs are chosen on clinical efficacy standards, financial benefits for the patient and/or payer, and discounts to the pharmacies.
GeriMed Data Management System
We know your time is valuable. Therefore, either GeriMed or the manufacturer will administer any agreement that requires purchasing data collection. To take advantage of this service, members authorize their wholesalers to gather daily electronic data for all purchases and submit it directly to GeriMed. Our staff then analyzes this data and submits the information to ensure proper attachment to eligible contracts. In addition, dispensing data is collected directly from the pharmacies or their dispensing software company for analysis and submitted to the manufacturers for applicable incentive programs. GeriMed takes appropriate steps to ensure HIPAA compliance and protection of data for each member.
GeriMed Long Term Care Network
GeriMed’s Medicare Part D network allows long term care pharmacies to earn higher reimbursement for providing additional services to long term care patients. This network also assists independent pharmacies in receiving payment for problem claims, prior authorizations and much more. GeriMed works with the PDP/MA-PD plans to make sure the voice of long term care pharmacy is heard, problems are solved and claims are paid daily.