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How SRX Can Help Your LTC Facility With Healthcare Outsourcing

Long-term care operators know first-hand the complex behind-the-scenes work that goes into running a facility, particularly in the middle of a pandemic. Burnout is real and widespread, even among administrative staff.

One of the greatest challenges for skilled nursing facilities during this time is retaining sufficient staff to handle the most essential administrative tasks. It is no wonder, then, that many providers are struggling to capitalize on opportunities for growth and improvement when their key staff is already overwhelmed with a swollen workload and pandemic uncertainty. This is why more long-term care operators are increasingly turning to healthcare outsourcing. 

Leveraging the expertise of third-party vendors is a fundamental benefit of outsourcing in the healthcare industry. In the midst of a pandemic, patient welfare is your top priority. Many of our partners have learned to lean on affordable experts who can take the load off their essential staff.

SRX offers healthcare outsourcing solutions by deploying our intelligent technology alongside expert guidance. When you partner with SRX, you empower your employees, save money, and improve service for your long-term care, post-acute care, or skilled nursing residents.

Why Do You Need Healthcare Outsourcing?

As the complexity of managing a long-term care facility becomes an increasingly herculean task, the ability to optimize a facility’s operations in-house becomes equally implausible, even for the largest operators. When we begin talking about LTC drug cost management, that complexity compounds.

Thankfully, with healthcare outsourcing, you can bring specialty knowledge into your operations and relieve the burden on your full-time staff. The most common examples of outsourced healthcare services include:

  • Billing services
  • Claims processing services
  • HR services
  • Payroll services
  • Data entry services
  • Patient care services
  • IT services

SRX’s technology offsets the extreme burden of staff having to comb over the minutiae of a LTC facility’s drug spend to uncover drug rebates and possible cost savings. The benefits of outsourcing in healthcare often outweigh any associated out-of-pocket costs when providers find the right partner. Our partners are able to experience the following benefits:

  • Save money. Outsourcing to experts means accessing specialists with existing workflows optimized beyond what in-house staff can achieve while affordably managing multiple priorities. For example, SRX helps long-term care facilities automatically identify and maximize drug manufacturer rebates, resulting in tens of millions of dollars cut from our clients’ drug costs. Trying to capture every single rebate yourself is arduous, but outsourcing this task can result in significantly lower facility drug costs.
  • Avoid mistakes. The right healthcare outsourcing partner can help keep your facility’s operations within agreed upon contract terms and regulatory body compliance requirements. This is especially important with your pharmacy spend. SRX’s software and advisors reduce waste and prevent facilities from ordering off-formulary.
  • Focus on patients. When you have a third party handling administrative tasks, you have more time to focus on patient health and welfare. 
  • Increase offerings. It’s easier to expand your services when you have the time and money to do so. 

Access experts. Healthcare outsourcing adds value to your organization by adding non-permanent, flexible resources that can be deployed as-needed.

How SRX Helps

Providers feeling the constraints of staffing shortages and managers seeing the result of prolonged, expanded workloads should already be thinking about how they can leverage the benefits of outsourcing to healthcare experts. Our solution helps with drug rebates, audits, compliance, and more. 

At SRX, we automate drug spend invoice auditing to maximize manufacturer drug rebates and lower your net drug costs—read our case studies to see how we helped LTC operators save hundreds of thousands of dollars. Our proprietary technology integrates formulary parameters to prevent waste, optimize your spend, and suggest cost-effective alternatives. On average, our partners see a 16% total decrease (rebates + cost savings) on their net drug spend.

With our comprehensive drug cost management solution, your operations will realize the proven benefits of technologically driven healthcare outsourcing. SRX has many solutions for skilled nursing facilities to reduce their net costs without the need to shrink staff levels. Instead, our technology bolsters your existing operations, improves efficiency, and cuts costs. Our experts can guide you through the often complex process of managing Medicare beneficiaries’ drug costs. So think of us as a partner in your business operations, not a replacement for staff.

Contact Us Today

SRX is the only technologically minded healthcare outsourcing solution built specifically for the long-term care and skilled nursing industry. Partnering with us brings unimaginable efficiency to the arduous task of managing your drug costs and results in significant savings with almost zero risk. 

Contact us today to find out how much SRX can save your operations time and money or schedule a free demo.

Stay up to date with important announcements and insights from SRX and follow us on LinkedIn.

Related Articles:

How to Simplify LTC Prescription Drug Spend with Adjudication

Taking Back Time Through Transparency in LTC Pharmacy Management

LTC Operator Sees 25% Net Reduction Opportunities on Pharmacy Spend with SRX

SRX is a technology and advisory company that helps LTC operators realize the lowest net cost on drug costs. We help our customers improve drug utilization, manage pharmacy relationships, reduce costs and waste, and maximize rebates. We are committed to transparency and accountability and guarantee our quarterly rebates are paid on time, every time. 

Learn more about our technology solutions.

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