Blog by Mel Green, Director of Business Development and Public Relations, GrandView Pharmacy
At GrandView, our goal is to be a resource for our customers, their residents and the residents’ families. As a pharmacy provider, we may not always be the cheapest choice for residents who are using their own private insurance to pay for medications, but we can help lower costs and provide choices that may be the best options for them.
Cost is certainly one of, if not the biggest, factor for those over 65 years old when selecting a pharmacy. However, there are many other factors that seniors and their families should consider when making their pharmacy decision.
Your community’s consultant pharmacist and your customer account manager can work with your staff and your residents to reduce drug cost. Here are 5 ways we can help your private pay residents save some cash:
1. We suggest the generics
On average, generic drugs cost 80 – 85% less than brand name drugs. We often recommend that the doctor change an order for a brand name drug to a generic alternative drug that would safely replace the brand medication.
The FDA requires generic drugs to have the same quality and performance as brand name drugs; however, there may still be some differences that could affect your residents. Therefore, our pharmacist complete a thorough review and work directly with your nursing staff and doctors before making any changes.
2. We can help find less expensive brand name drugs
Most health conditions can be treated by a variety of different drugs. Some of those drugs may even work in similar ways, but cost much less. Our pharmacist can complete medication regimen reviews, and make recommendations to change medication therapies to less expensive brand name drugs that produce the same clinical outcomes.
I like to recommend to residents to always ask their physician if there is a less expensive brand name medication that could treat their condition just as effectively when they are prescribed an expensive brand name medication—it never hurts to ask!
3. Let us help find a better Medicare drug plan
Your GrandView pharmacy customer relations manager can help your residents find the best Medicare D Plan for their current medication regimen. If some of your residents are paying high prescription medication costs, a different Medicare drug plan could dramatically lower those costs. Part D plans change every year and resident’s medications change constantly, so it is extremely important to review your private pay resident’s individual situation annually. Our experienced staff can help your residents find the right prescription drug plan for their unique situation at no cost to them.
4. We recommend applying for an Extra Help program
For lower income seniors, Social Security has a program called Extra Help with Medicare Prescription Drug Costs. This program helps pay for costs related to a Medicare prescription drug plan. Our billing department can discover if your residents qualify for Extra Help.
5. Get help from the drug manufacturer
Some drug companies offer programs that help people pay for their medications. Your customer account manager has access to several tools they can utilize to look up their drugs and see if there are any assistance programs available for your residents.
Learn more here or contact your community’s customer account manager at 866.827.7575
About the Author
Click here to learn more about Mel and the rest of the GrandView team.