In-office medication dispensing is growing in popularity amongst physicians in the United States. As physicians look to ancillary services to increase revenue and grow the practice, physician dispensing stands out as one of the most lucrative paths. In addition to supplemental income, there are other advantages and also potential disadvantages to be aware of when providing medications directly to your patients.
Physician Dispensing Benefits and Advantages
There are several different advantages of in-office medication dispensing. Most physicians likely become aware of the service as they investigate different ways to increase revenues and profitability, but there are other advantages that include improved patient compliance and patient satisfaction.
Improve Patient Compliance
The World Health Organization reported in 2003, “increasing the effectiveness of adherence interventions may have a far greater impact on the health of the population than any improvement in specific medical treatments.” Unfortunately, medical adherence is an issue that physicians are faced with and nonadherence is responsible for many treatment failures.
In-office dispensing allows the physician to fill the prescription in the office instead of sending patients to a pharmacy. This eliminates the inconvenience of traveling to another location and the patient is able to start the treatment plan immediately. While providing patients with medications in an office doesn’t completely solve the medication adherence issue, it eliminates the issue for patients who are unable or unwilling to go to a pharmacy to get their medication.
Distinguish Practice and Increase Value
One of the major advantages of point-of-care medication dispensing, along with patient compliance, is how the ancillary service differentiates your practice. What reason should a person become a new patient to your practice? What makes your practice different than others? If you don’t have a good answer for these questions. 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.
As a physician, improving medication compliance, satisfaction and differentiating your practice are all important. But most physicians are looking to increase revenue and practice profitability. Despite the growing number of patients seeking medical care, many doctors with private practices are having a difficult time making a profit. This is due in part to decreased insurance remittances for in-office visits. With in-office medication dispensing, the physician makes revenue from the visit and for dispensing the medication. This is a great way to add additional revenue to the practice without increasing the amount of time needed to service the patient. In-office medication dispensing increases both profitability and efficiency.
Cons Of In-Office Dispensing
While most physicians agree that dispensing medication in-office has more advantages than disadvantages, it is important to be aware of potential disadvantages and common concerns.
States understand the convenience and benefits of physician dispensing but want to contest potential abuses of these practices. Based on your state, there are specific billing and reimbursement requirements and certain limitations, and some physicians are not interested in dealing with the regulations and laws surrounding the growing service.
Damage Relationship with Local Pharmacies
Many physicians are concerned that if they began providing dispensing medication in office it will damage existing relationships with local pharmacies. And there have been some studies that show PBM’s have taken action to limit access to dispensing physicians.
The Only Comprehensive Point of Care Dispensing and In-Network Pharmacy Program
As you can see there are many benefits and some disadvantages to in-office medication dispensing. However, AdvancedRX can help you realize the advantages and avoid any of the disadvantages.
We provide comprehensive healthcare services for physicians that allow you to dispense medication when possible and send the remaining prescription to our partner pharmacies. We offer the only comprehensive point of care dispensing and in-network pharmacy program and will help you navigate the complexities of physician dispensing including billing, reimbursement, collections, and regulations.
Partner with us and we will work with you throughout all stages of your program, including:
- Ongoing program support
Advanced Rx works in collaboration with you and your team to ensure a seamless and comprehensive solution for all of your patient medication needs.
If you are interested in improving patient care and increase practice revenue, complete a form to get in touch with a program specialist or give us a call at 925.361.3942.