{"id":40479,"date":"2022-04-28T19:56:18","date_gmt":"2022-04-28T19:56:18","guid":{"rendered":"https:\/\/www.srx-tech.com\/articles\/?p=40479"},"modified":"2022-08-12T20:30:55","modified_gmt":"2022-08-12T20:30:55","slug":"lowering-drug-costs-documentary","status":"publish","type":"post","link":"https:\/\/www.srx-tech.com\/articles\/lowering-drug-costs-documentary\/","title":{"rendered":"See How SRX is Tackling the Problem of Rising Drug Costs"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"[Documentary] Learn How SRX is Tackling Rising Drug Costs in America\" width=\"1778\" height=\"1000\" src=\"https:\/\/www.youtube.com\/embed\/MVYmFeOGIJg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2>This New Documentary Shows How SRX\u2019s Technology and Advisors Are Helping Employers and LTC Facilities Lower Net Costs<\/h2>\n\n\n\n<p>Year after year, drug costs continue to rise across the healthcare continuum. From hospitals to long-term care (LTC) facilities, drugs represent one of the greatest operating costs for providers.&nbsp;<\/p>\n\n\n\n<p>Nationwide, $25 billion is spent on medications in our nursing facilities each year. That figure is expected to continue growing.<\/p>\n\n\n\n<p>SRX\u2019s mission is to help LTC and skilled nursing facilities thrive by lessening the burden of rising drug costs on their operations. Reducing these costs helps facilities deliver better care, hire engaged providers, and improve other areas of their operations.<\/p>\n\n\n\n<p><a href=\"https:\/\/youtu.be\/MVYmFeOGIJg\">Watch to Learn How SRX is Lowering Drug Costs<\/a><a href=\"\"><\/a><\/p>\n\n\n\n<h5>The Widespread Impact of Rising Costs<\/h5>\n\n\n\n<p>As the American population ages, skilled nursing homes are seeing patients with increasingly complex conditions, requiring specialty treatments and more skilled care. For long-term care facilities responsible for residents\u2019 drug costs under Medicare Part A, this increasingly acute cohort brings with it the challenge of higher costs.&nbsp;<\/p>\n\n\n\n<p>In order to thrive while delivering more complex care, long-term care facilities need both appropriate reimbursements and opportunities to identify cost-savings across their operations. SRX helps with the latter, identifying manufacturer rebates that inject money directly into facilities to offset increasingly expensive treatments and optimizing pharmacy management processes to limit waste and eliminate costly errors.<\/p>\n\n\n\n<p>For long-term care facilities and employers in all industries, specialty drugs represent the greatest driver of rising drug costs. These medications make up roughly 2% of volume but almost 50% of costs in prescription benefit plans.&nbsp;<\/p>\n\n\n\n<p>Through its partnership with Arc, SRX\u2019s technology is being used to help employers significantly lower plan costs while delivering the robust coverage employees deserve. Identifying opportunities to source specialty drugs at lower costs, medication exclusions, and drug rebates work in tandem to drive down plan costs, powered by SRX\u2019s proprietary automation.<\/p>\n\n\n\n<h5>Results That Speak For Themselves<\/h5>\n\n\n\n<p>On average, SRX helps long-term care and skilled nursing facilities reduce their drug costs by 16% with drug rebates and comprehensive pharmacy management. Coupled with managed care exclusion reimbursements, these savings approach 20%, adding up to hundreds of thousands of dollars for some long-term care operators.&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/www.srx-tech.com\/articles\/wp-content\/uploads\/Viewpoint-Percentages-1024x905.png\" alt=\"\" class=\"wp-image-40485\" width=\"768\" height=\"679\" srcset=\"https:\/\/www.srx-tech.com\/articles\/wp-content\/uploads\/Viewpoint-Percentages-1024x905.png 1024w, https:\/\/www.srx-tech.com\/articles\/wp-content\/uploads\/Viewpoint-Percentages-300x265.png 300w, https:\/\/www.srx-tech.com\/articles\/wp-content\/uploads\/Viewpoint-Percentages.png 1200w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/figure>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>For employers seeking greater savings on their employee prescription benefit plans, visit <a href=\"http:\/\/www.arc-rx.com\">www.arc-rx.com<\/a> to learn about a dynamic new benefits program that dramatically lowers plan costs for employers in any industry.&nbsp;<\/p>\n\n\n\n<p>Long-term care and skilled nursing operators can see meaningful savings on their drug costs within months by partnering with SRX.<\/p>\n\n\n\n<p><a href=\"https:\/\/srx-tech.com\/demo\">Contact Us to Learn More<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.linkedin.com\/company\/srx-tech\/\" target=\"_blank\" rel=\"noreferrer noopener\">Follow us on LinkedIn<\/a> for regular updates, insights, and industry events.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-black-color has-css-opacity has-black-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Related Articles:<\/p>\n\n\n\n<p><a href=\"https:\/\/www.srx-tech.com\/articles\/how-to-simplify-ltc-prescription-drug-spend-with-adjudication\/\">How to Simplify LTC Prescription Drug Spend with Adjudication<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.srx-tech.com\/articles\/srxs-partnership-approach-to-helping-ltc-operators-succeed\/\">SRX\u2019s Partnership Approach to Helping Long-Term Care Operators Succeed<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.srx-tech.com\/articles\/3-places-pharmacy-spend-costs-hiding\/\">3 Places Where Excess LTC Drug Costs Are Hiding in Plain Sight<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-black-color has-css-opacity has-black-background-color has-background is-style-wide\"\/>\n\n\n\n<p><em>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\u2019s 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.<\/em><\/p>\n\n\n\n<p><br>Learn more about SRX\u2019s <a href=\"https:\/\/www.srx-tech.com\/articles\/long-term-care-solutions-2022\/#:~:text=cost%2Dsaving%20solutions\">cost-saving solutions<\/a><\/p>\n\n\n\n<figure class=\"wp-block-video\"><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>This New Documentary Shows How SRX\u2019s Technology and Advisors Are Helping Employers and LTC Facilities Lower Net Costs Year after year, drug costs continue to rise across the healthcare continuum. From hospitals to long-term care\u2026<\/p>\n","protected":false},"author":2,"featured_media":40489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,4],"tags":[8],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>See How SRX is Tackling the Problem of Rising Drug Costs - Articles | SRX<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.srx-tech.com\/articles\/lowering-drug-costs-documentary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"See How SRX is Tackling the Problem of Rising Drug Costs - Articles | SRX\" \/>\n<meta property=\"og:description\" content=\"This New Documentary Shows How SRX\u2019s Technology and Advisors Are Helping Employers and LTC Facilities Lower Net Costs Year after year, drug costs continue to rise across the healthcare continuum. 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