A Winning Drug Utilization Strategy to Avoid Missed Savings
With SRX’s Full Service Pharmacy Cost Management solution, one skilled nursing facility (SNF) operator greatly reduced the number of missed savings over a one-year period.
This was achieved by implementing Therapeutic Interchange (TI) letters that give clinical and medical directors a tool for communicating formulary preferences to pharmacy partners. These letters ensure that only specific drugs that have been selected for their clinical efficacy and cost savings, as outlined in facilities’ formularies, are dispensed.
See how TI letters helped this operator maximize its savings in this case study.
The SRX dashboard provides a proprietary look into the performance of individual facilities, giving operators and administrators powerful insights. Included in this dashboard are missed cost-saving opportunities that can be addressed with the correct implementation of TI letters.
As demonstrated in this case study, putting TI letters to use with the right expert advisors can make a significant monetary difference and streamline operations between facilities and their contract pharmacies.
The Right Tech + Experts = Greater Savings
With SRX as a partner, SNF operators can achieve significant savings by as much as 16% on net drug costs. Our technology and expertise are helping operators secure transparent, compliant savings that make room in operators’ budgets to hire in-demand staff and absorb rising costs.
Learn more about how our Full Service Pharmacy Management service sets up operators for success.
SRX is a unified drug cost management solution for long-term care operators. We achieve unrivaled drug cost savings by combining our proprietary technology with expert advisors. SRX’s solutions automate drug rebates, optimize pharmacy management practices, increase managed care exclusion reimbursements, and provide cost-effective employee prescription benefits. SRX guarantees quarterly rebates are paid on time, every time, with no out-of-pocket cost.