Physician Dispensing – Pros to Dispensing In-Office
Many medical experts have made valid arguments for and against the practice of physician dispensing, but the significant upsides of increased patient compliance and convenience outweigh any potential disadvantage. Apotheca, Inc. is equipped to support your needs and enable you to see the benefits of Dispensing in-office. Here are some of the compelling reasons to investigate the prospects of Physician Dispensing for your practice.
Patient Compliance
First and foremost, we need to talk about patient compliance. MedCityNews writes, “Approximately 20-30% of prescriptions are never filled. Providing medication at the point of care eliminates this problem.” Of course, Physician Dispensing isn’t a panacea for recalcitrant patients who don’t follow medical advice, but an increased likelihood of compliance is definitely worth it.
“A World Health Organization study showed that overall 50% of prescriptions are not properly followed by patients (including the 20-30% that are not filled), because of factors such as patient forgetfulness, limited language proficiency, lack of health literacy, or lack of belief in medication.”
Pharmaceutical distribution is an industry in its own right, but it seems very obvious that getting the correct medications into your patient’s hands directly confers a measurable improvement in patient compliance and could distinguish your practice from your competition, which segues us into our next advantage.
Distinguishing Your Practice With Value Added Service
One of the most pre-eminent advantages that many in the medical field fail to consider in Physician Dispensing is their marketing. One of the biggest edges in point-of-care medication dispensing in addition to increased patient compliance is how this value-added service differentiates your practice from your nearby competitors. AdvancedRx wrote “Physician dispensing could be a part of what makes your practice different. And it’s easy for patients to understand the convenience and value of the service.”
Increased Revenue/Profitability
National Center for Health Statistics, reports that the average doctor sees twenty-five patients per day and writes 1.4 prescriptions per visit. If their practice were to make $10 on each of the 35 prescriptions, it would boost daily revenue by $350 without occupying any more of a doctor’s precious time, which is typically overbooked, to begin with.
Physicians all around the nation are already incorporating more common diagnostic services into their practices such as labs, x-rays, and electrocardiograms in order to add additional revenue streams, why wouldn’t Specialty dispensing services or even Medical supply companies jump on board with a Physician dispensing solution?
CareCloud writes,
“Several states are falling in line with the trend. A recent ruling by an Arkansas circuit judge will facilitate a doctor’s ability to sell medications in the state. Supporters advocate patients should have the right to choose where they buy their medications.
Doctor dispensed medications are becoming so profitable that private equity firms are investing in the business, and political lobbying for dispensaries is in full swing.”
Savings From Wholesalers
One of the most obvious but overlooked advantages to In-house dispensing is that you can typically (not always, but usually) get much better pricing from your wholesaler than you can from a local pharmacy that needs to meet their own costs and profitability metrics. Your discounted rate can also allow you to more effectively serve uninsured or under-insured patients (and in 2021 there are A LOT of patients in both categories) or those with Medicare Part D, especially when patients are in the “donut hole,” but often are less expensive than the co-pay with traditional insurance plans.
It Really Isn’t That Hard To Start
While every state has different rules about physician registration and compliance, most of the requirements are not excessively laborious or cost-prohibitive. Forty-four states currently allow physicians to dispense medications directly to their patients. For example, Floridian physicians must register with the Board of Medicine and pay a $100 fee, they must also follow basic safety methods to ensure proper storage, accurate labeling, and patient counseling. See? It’s not that bad.
There are Benefits We Can’t Foresee But You Can, Because You Know Your Patients
Dr. Marc Love, a managing partner of the Spine Center, a chain of clinics in Maryland said “We did not institute this because of the money,” “We instituted it because we were having significant difficulty providing the care for workers’ compensation patients.” In situations where workman’s comp is involved the paperwork can take days or weeks to clear. That’s precious time where your patients could be in pain or even in danger.
MedCityNews wrote about that particular instance where time is of the essence,
“While this benefit is obvious, it should not be overstated. Even in states where physician dispensing is generally not permitted (such as Texas, Utah, and New York), exceptions are often made for very small quantities of certain medications for acute conditions to allow patients to start their treatment immediately and then have the rest of their prescription filled at a pharmacy.”
At the end of the day, the significant advantages of Physician Dispensing Solutions far outweigh the potential drawbacks. The addition of new revenue to your practice can allow you to increase the quality of care you provide holistically and organically rather than relying on the old trope of ‘just seeing more patients.‘ It’s a complex decision to make and Apotheca, Inc. is here to help you make it and facilitate it. Apotheca Wholesale Pharmaceuticals is well equipped and stocked to help your business explore expanding your practice in 2021.
Contact us today at Customerservice@apothecainc.com or call us at 602-252-5244.