Author: L.Saini, St.Pauls college of pharmacy.
Normally , a patient is picking up a prescription at a retail pharmacy from a pharmacist who only has an occasional need of medications.But here the retail pharmacy will not only give a prescription, they also care for patients by offering many needs of an individual, it means there is an interaction between the pharmacist and a patient. Here the retail pharmacies are switching to long term care pharmacies so the retail pharmacies business will switch up into more higher stages.
Yes, it is an article which you are reading now, which contains a lot of information about long-term care pharmacy operations.
An LTC pharmacy is a business of pharmaceutical specialization that is specifically designed to support individuals or seniors living in a long-term care community, such as senior living. Long-term care involves a variety of services designed to meet a person’s health or personal care needs during a short or long period of time. These services help people live as independently and safely as possible when they can no longer perform everyday activities on their own.
When Should You Choose a Long-Term Care Pharmacy?
Most LTC(Long-Term care) pharmacies are located in places where skilled nursing facilities toward patients are geared. However, some may choose which type of pharmacy fills your prescriptions . And here is our choice and some skilled nurses to choose which type of pharmacy either retail pharmacy or an LTC pharmacy, are required for prescriptions, and some retail pharmacies include an LTC pharmacy among their services.
But in general, it’s best to choose an LTC pharmacy. If you have an ongoing and any symptoms for upcoming disease and other health issues then an individual i.e a patient chooses and has a thought to be monitored and cured over time. Which is possible through the LTC.
If you need multiple medications for a variety of ailments and health issues. An LTC pharmacy will look at your health history and current issues holistically rather than a
prescription at a time. Additionally, the LTC pharmacies will also deliver prescriptions as needed,and they can ensure the patients with mobility issues get proper medications on time.
Types of Long term care pharmacy (LTC)
Becoming a long-term care pharmacy(opportunities and considerations)
Yes, your hard work and consistency makes you choose a long-term care pharmacy. Nowadays many challenges for independent retail pharmacies are well known like the reimbursement is decreasing day by day, broad national chains continue to flex their muscles and a downfall of the margins.
The entrepreneur by nature (Who is an owner of an independent pharmacy. This entrepreneur is now reinventing a business of pharmacy, by providing new types of services like medication therapy management and medication synchronization. In addition, retail pharmacies are exploring new growth opportunities and looking to diversify their revenues, with a particular interest in high-margin, growing markets. Because of the opportunities presented, one area of significant interest is long-term care (LTC) pharmacy.
How does an LTC pharmacy make money?
LTC pharmacies make money through rebates, dispensing fees, profits based on the facility charge, minus the acquisition cost, medication costs, and business. The profits based on facility charges are different because the cost of closed-door pharmacy may be different from an open-door retail pharmacy but the medication costs and dispensing fees are similar for closed-door LTC pharmacies and open-door pharmacies. Rebates are determined through contracts that a closed-door pharmacy may have a GPO(General post office), a wholesaler or a manufacturer and a pharmacy network.
Financial decisions for long-term care-
Who needs LONG-TERM CARE?
It is difficult to choose and predict what type of LTC a person needs and how much people may need. Here several ways are there were it increases the risk of needing long-term care:
TOP 5 –
Some top 5 companies and profiles of long-term care pharmacy which provides a better results from their experiences are,
A . Top 5 Nursing facility companies
B . Top 5 senior living facility companies
C . Top 3 Long-term care pharmacies
D . TOP 5 National LTC Pharmacy profile
Steps to grow a long-term care pharmacy
STEP-1 Acquire a mindset as an Entrepreneur.
STEP-2 Make a new niche.
STEP-3 Make a road map and business plan.
STEP-4 Evaluate the differentiation and competition.
STEP-5 Promote and market your
STEP-6 Modernise the internal process.
High-paid long-term care pharmacy JOBS
★ Account executive LTC pharmacy
★ Pharmacy technician
★ Pharmacist – clinical advisor
★ Clinical associate
★ RX Tech Front end
★ Patients associate
★ General manager LTC
★ Pharmacy assistant
★ Collection specialist
★ Long-term care trainer etc
LONG TERM CARE provides a diverse array of services to the people of all ages with some chronic conditions, functional limitations and some diseases.Over next 20 years, in baby borning age over 85 will grow at least 90 percent of the diseases.It provides and gives all personal care and assistance to the people with all their basic needs and activities. Without any support, need, and providers the LTC itself cares a patients. From a total of 190 million people of 18 years old, nearly 9 million people were using paid (formal) and unpaid (informal) long-term care. Long-term care reported the users of informal care who dropped from 51% in 1984 to 40% in 1994 and during the same period of time institutional care increased from approximately 26% to 30%. Needs can occur at any age so, this long term care creates an image for all elderly people with no age limits in a nursing room. With psychological and physical impairments the advanced medical and surgical technologies allowed many children who had died in previous eras.LTC pharmacists are an essential provider for the aging population by providing LTC facilities. Policymakers and researchers should ensure that LTC pharmacies receive appropriate reimbursement for the medications and services they provide.
Abt Associates, MA: Abt Associates, 1996.
Adler, M.Population Estimates of Disability and LTC 1995.
Bahr, R.T.Mechanism of Quality in long-term care service and clinical outcomes, 1991.
Home and community-based services 1915; Centers for Medicare and Medicaid Services.
ShiL, Singh D December 8, 2015.Essentials of the U.S Healthcare system[4th edition]Jones and Bartlett Learning
L-T Facilities- Based care Health Canada, 3rd April 2003- Retrieved 3 January 2012.
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