The pharmacy industry is facing a multitude of problems and challenges including margin erosion due to increased costs of goods and labor; waste all across the supply chain including discarded meds; mundane manual labor instead of care-giving; and recent mandated changes to dispensing models. In addition, consumers are faced with the dangers of improper usage of meds. The Rexanto solution addresses these problems with state-of-the-art, non disruptive solutions
Problem: Wasted meds
Problem: Infrastructure costs
Problem: Role of Pharmacist as care-giver
Problem: Patients confused by complex Rx regimen
Problem: Wasted Meds. When prescriptions change, any remaining meds from the original prescription are discarded. For “HiNeeds” seniors the frequencies of prescription changes are so high that $4-$6B of meds are wasted every year with standard 30 day supplies. So much so, that Sec. 3310 of Healthcare Reform specifically targets “reducing waste associated with 30 day fills” and mandates the use of weekly or shorter dispensing in long-term care facilities. CMS expects savings of $6-$9B over an eight year period, even after payments for any additional service charges. Pharmacies will be expected to implement “short cycle fills” and drug plan sponsors will be expected to reimburse added service fees for plan years starting Jan 1, 2012. Pharmacies already struggle with tight operating margins and cannot address the mandate without investing in automation.
Rexanto Solution: Rexanto offers pharmacies a solution to the CMS mandate with negligible capital investment. Our solution doubles pharmacy EBITDA even with current 30 day models and can be implemented to great benefit well in advance of the mandate deadline. Read more...
• Filling costs. Mail order pharmacies have automated workflows, but fill in 90 day sizes to overcome the shipment overhead, and worsen the wasted med issue faced by HiNeeds seniors. Despite some automation, in-store dispensing at pharmacies is for the most part, a manual and labor intensive process. [LTC pharmacies pack over 9 billion meds by hand, every year]. Neither the existing automation at mail-order, nor manual labor at stores, is conducive to the shorter fills necessary for "HiNeeds" seniors.
• Intermediate bottling. Meds today are delivered to pharmacies in intermediate bottles fully labeled to FDA specifications. Most meds are only offered in small supply sizes (150 or less). Meds from intermediate bottles are repacked into pharmacy packaging, and for retail HiNeeds seniors, meds are repacked yet again into weekly pill minders. Just per US demand, one billion intermediate bottles are added to landfill every year. The existing supply chain is burdened with the production, distribution and landfill costs of intermediate bottles.
Rexanto Solution: Using a central fill model Rexanto can streamline the supply chain. Rexanto central fill reduces labor costs for pharmacies, while pharmacies retain their customer relationships. Read more...
Problem: Role of Pharmacist as care-giver. The Apothecary in the 15th century had gained status of a skilled practitioner, who offered general medical advice and a range of services. Around the 19th century medical professions took on current institutional forms and the role of the apothecary was more narrowly conceived of as a dispensing chemist. The role narrowed even further with the migration of pharmacological discovery to large pharmaceutical firms. Today, a pharmacist, with over 8 years of education and specialized training, has a workday that is commonly described as “Pour, Count, Lick, Stick”. Recent trends show encouraging signs for an increased role of the pharmacist as a care-giver. Retail chains are increasing in-store clinics, and plan sponsors are considering re-imbursement for MTM and disease management programs.
Rexanto Solution: Rexanto's vision is to energize the role of pharmacist as a care-giver. Rexanto's platform focuses on tools and technology to assist the pharmacists care-giving role. Read more...
Problem: Patients confused by complex Rx regimen. HiNeeds seniors represent above-median expenditures and suffer from poor or failing health. Their prescription regimens are constantly changing and are not a good fit for 90 day mail-order programs (17 to 35% Rx changes per year). They are on 8 or more active prescriptions at any given time, and they find it extremely difficult to sort through their medications and take the right med at the right time. Non-adherence to prescribed meds causes nearly 125,000 deaths per year and is the fifth leading cause of death among seniors. Across the US 19M caregivers travel weekly to non-cohabitating seniors to fill meds into pill minders.
Rexanto Solution: With Rexanto's solutions retail pharmacies can send 7Day packs in convenient blister packs that are labeled to specific dose and time, at no added cost! Wasted med and supply chain savings offset any added shipment and packaging costs. Read more...