You Might Have a ‘Combo Pharmacy’ and Not Even Know It

Published On: February 20, 2023|Categories: Blog, Pharmacy Services|

Many retail independent pharmacy operators and owners have unknowingly entered the LTC pharmacy space. You operate a combo pharmacy if you’re currently providing compliance packaging to any of the following LTC settings:

  • Assisted Living Facilities
  • Skilled Nursing Homes
  • Group/Personal Care Homes
  • Correctional Facilities
  • Intermediate Care Facilities – Individuals with Intellectual Disabilities (ICF-IID)
  • Hospice
  • Medical at Home
  • Developmentally Disabled Group Homes
  • Chronic Psychiatric Facilities

Source – GeriMed

With the right tools, your ‘combo pharmacy’ designation allows you to keep more of what you earn.

GeriMed’s ComboMed tool allows an existing community retail pharmacy serving patients in both retail and several LTC settings to gain access to enhanced reimbursement, cost of goods, and other advantages traditionally tied to a ‘closed-door LTC pharmacy’ designation.

ComboMed is tailored to enhance your bottom line through the following:

  • Increased Reimbursement
  • Decreased Cost-Of-Goods
  • LTC Growth

Increased Reimbursement

  • Access to competitively negotiated LTC reimbursement rates through their Medicare Part D network:
    • Most Medicare Part D LTC plans
    • 90% of commercial and retail payers
      Nurse greeting elderly couple at assisted living facility

      A pharmacy that serves any number of long-term care (LTC) facilities can be designated as a ‘combo pharmacy’ and keep more of what it earns.

  • Access to services that decrease risk and maximize reimbursement:
    • Customizable analytic reports
    • 835/EOB remittance advice management
    • PBM audit assistance
    • MAC appeal/resolution
    • Part D formulary management software
  • No DIR fees on your Medicare Part D LTC claims!

“No DIR fees on these LTC Medicare Part D claims and increased reimbursement really grabs our members attention,” said Pomeroy.

Decreased Cost-Of-Goods

From pharma to non-pharma contracts, ComboMed’s contracting expertise will allow for sustainable cost reductions that bring the peace-of-mind needed to navigate the challenges and demands of running your pharmacy.

Pharmaceutical Contracts:

  • Brand
  • Specialty
  • Injectable
  • OTC Medications
  • Nutritional Supplements

Non-Pharmaceutical Contracts:

  • Facility/Office equipment, furniture & supplies
  • Pharmacy equipment, products & services
  • Delivery, freight & shipping services
  • Technology solutions (IT, software, etc.)

“The team at GeriMed provides our members with excellent customer service and education,” added Pomeroy. “Anytime I reach out to them to speak with a member that might have some opportunity they follow up immediately.”

LTC Growth

The ComboMed solution provides ‘combo’ pharmacies nationwide with the following and more all under their existing retail licensure and operating space:

  • Maximized LTC reimbursement
  • Zero DIR Fees
  • Special long term care class of trade savings on brand pharmaceuticals in addition to wholesaler cost of goods (COGs) discounts
  • Discounts on non-pharmaceutical products including LTC supplies such as carts, packaging, needles and syringes, and office supplies

Easy and Affordable

The ComboMed program includes the following key features:

  • Simple enrollment
  • Low cost, flat membership fee (no growth penalty!)
  • Minimal implementation operational changes required
  • Compatibility with most software vendors
  • Dedicated account management
  • Access to resourceful Members Only portal

“I am very pleased with our partnership with ComboMed. It has brought a lot of opportunities to the pharmacy that we would have not been able to participate in without being a member. We have gotten rebates, special pricing, and the ComboMed team has been an endless source of knowledge and know-how for us. I appreciate everything they have done for us.”

Bill Drilling, RPh, Drilling Pharmacy, Sioux City, IA