Drug spend is typically the second largest cost center for operators outside labor. Better managing this aspect of operations can lead to significant increases in manufacturer rebates and cost savings. Through automation, operators can use technology to help manage pharmacy relationships in order to ensure accountability and increase transparency, as well as review invoices to identify all eligible rebates and cost savings. Without automation, manual review of these items leaves operators without the tools needed to accurately identify returns, credits, split bills, over-the-counter opportunities, price discrepancies, and waste. Automation also allows for identification and submission and all line items eligible for valuable manufacturer rebates.
Learning Objectives:
Understand the importance of cost savings and rebates in the face of COVID.
Understand the complexity of the pharmacy relationship, analysis of invoices, identification of errors and opportunities.
Understand the importance of transparency and accountability in the pharmacy relationship .
Understand how to proactively manage costs and maximize rebates.
