From Healthcare to wealthcare
Why this makes sense for Pharmacists?
Just like Immunization disrupted the pharmacy market in early 2000's, the next evolution can be pharmacists as Medicare enrollment and insurance solutions agents.
Pharmacists have a deep connection with patients. They understand patient needs, they understand how healthcare is delivered, what it costs and how to navigate insurance products and services. Pharmacists are accessible more than any other healthcare professionals. These qualities are ideal for someone to act as an insurance agent. Pharmacists can help select health plans using individual data like:
- Patient affordability of premiums, deductibles, copays
- Ensuring healthcare practitioners, practices are in-network
- Various other elements of healthcare that might be needed are included
Protect What Matters Most
Combating PBM attacks on independent Pharmacies
Pharmacies have faced severe attacks from PBM's ranging from various alphabet soup of fees, unfair practices like steering to "preferred networks", unfair audit practices and so much more. Margins have dwindled and many pharmacies are forced to layoff workers or simply close doors.
Diversifying Income
Becoming licensed agents makes sense for our patients and makes economic sense for us as independent pharmacies. This allows us to stay in business and continue to serve our patients.
- Provide more comprehensive health plan solutions tailored to patient needs
- Improve margins for pharmacy using new commission streams
- Create a book of business separate from the pharmacy book of business
- Additional sales by maximizing plan benefit utilization like OTC cards
- Referral business from insurance to pharmacy