Tuvia Aizenberg on how SRX is a partner for financial success
As a long-term care (LTC) operator, how do you ensure your facility is financially successful in the long term? Tuvia Aizenberg, VP of Operations at Premier Healthcare Management credits his partnership with SRX and its “trickle-down effect.”
Aizenberg started at Premier in the procurement department. He worked as an assistant purchaser for roughly three years before transitioning to an operations role, where he now oversees operations for almost two dozen facilities.
“I always knew that purchasing was not the final stop for me,” he says. “I continued to move more into understanding how the business works, the financial aspects, the implications of not just the day-to-day, but understanding how a decision today is going to affect the operations for the future. What is the trickle-down effect? How will my decision today affect the centers, the residents, the nursing staff, the entire picture?”
His willingness to ask those questions and better understand the financials of operations meant he saw the value that SRX could bring in unpacking the second-largest cost center for LTC operators (pharmacy spend). He coordinated a serendipitous meeting with SRX and the owner.
“Paula from SRX walked into our owner’s office and said ‘I have a way to cut your costs and increase your revenue,’” he recalls.
The owner didn’t believe her at first, but “She walked back in and said, ‘Here you go, here’s proof!’”
The Day-to-Day Value of SRX
Aizenberg has put tremendous thought into the “trickle-down effect” and how his decisions—while in an operations role—affect the enterprise.
Partnering with SRX and using their automated software provided Aizenberg and the team at Premier the ability to identify issues in the past as well as rectify and recover costs that were previously missed without the SRX technology.
Aizenberg noted that the SRX dashboard has been a phenomenal resource in the day-to-day duties of operating Premier. The technology helps to ensure that ancillary vendors are being held accountable. But ultimately, SRX gives him a window into real-time data so that his operations team can be proactive in identifying inefficiencies and errors.
“You know, I can’t even tell you how many invoice files I have gone through with SRX, their ability to pinpoint opportunities using their technology and provide more intelligible data was very helpful. We can now identify these issues, go back to the pharmacy and say, we have a major problem and we deserve a major refund,” Aizenberg says. “And I would say 90 percent of the time we’ve gotten it back.”
SRX, a Partner in Unveiling Data and Advocating for Transparency
In addition to the technology platform, part of SRX’s role is to educate operators on the complexity involved in properly managing pharmacy spend so they can ensure that money isn’t being left on the table.
One area that represents a significant impact on driving lowest net cost on pharmacy spend is maximizing drug manufacturer rebates. Many operators, however, are unaware of the rebate process, how it works, and how to ensure that they are getting the most from their rebate opportunities. “SRX has opened our eyes up to the fact that we as the customer and payer, are entitled to manufacturer rebates,” he says. “Not many operators know about or take full advantage of them.”
SRX is also an advocate of transparency in pharmacy contracts and pricing, and supports customers in navigating and enhancing their pharmacy relationships, particularly when it comes to adjudication and data sharing, Aizenberg says.
“We have long-standing relationships with pharmacies”, he says. “We have an amazing connection with them. They have phenomenal service, but they are not always open to adjudicating daily.”
Adjudicating daily allows companies like Premier to address issues in real-time. Aizenberg’s team works hard to catch high drug costs and improve formulary interchanges with the help of SRX experts and their automated software.
In addition to working to address issues in real-time, Aizenberg is encouraging the LTC industry to expect and demand greater openness to data sharing and increased transparency.
“The ability to say, ‘Hey we’re partners here, but we need an open relationship that shows us our data, which really belongs to us in real-time, so we can run our business better’ is something that every operator should be advocating for,” he says.
The SRX Solution
Half the battle of taking control of pharmacy spend at LTC facilities is knowing where money can be saved and where it’s being lost. Now, with the help of SRX, Aizenberg’s eyes have been opened and he can make sound decisions that positively trickle down to his centers, residents, nursing staff, etc. on a daily basis. SRX offers operators like Aizenberg the ability to focus on the things that truly matter—patients. It’s a peace of mind solution with actionable results.
SRX is a technology and advisory company that helps LTC operators realize the lowest net cost on pharmacy spend. 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. Contact us at 833 633 6833.
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