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SwedishAmerican recovers patient assistance program savings of $831K
Providing care to under and uninsured patients is an important service SwedishAmerican Health System provides its community. Helping make this possible are patient assistance programs (PAPs) sponsored by pharmaceutical and medical-device manufacturers.
MedSource® is helping our pharmacy to save $40,000 a month. This is a huge improvement from when we managed the complex programs ourselves. MedSource enables our pharmacy to recoup costs and enables our staff to spend more time on clinical care.
— E. Thomas Carey, PharmD, Director of Pharmacy Services
While the savings from PAPs can be substantial, managing recovery is time consuming and includes staying current with manufacturer programs, changing regulations and enrollment processes. SwedishAmerican had been dedicating valuable staff time to PAP programs, but only recovered about $1,500 a month. “I contacted McKesson to manage our PAPs,” said SwedishAmerican Hospital Director of Pharmacy, Tom Carey. “As our drug wholesaler and distributor, I felt that they would speak the same language and help offset our expenses. I never imagined we would be this successful.”
McKesson MedSource® patient assistance program delivered a comprehensive solution to help SwedishAmerican maximize recovery of medications dispensed to uninsured patients. A McKesson manager worked within the SwedishAmerican pharmacy system as part of the daily workflow to review that all eligible costs were recovered not only for medications, but also for insurance co-payments. “There is some initial setup, which is to be expected, but the amount of time is hours — not days or weeks. I couldn’t believe how easy our MedSource manager made the transition for us,” commented Carey.
Prior to implementing MedSource®, SwedishAmerican tracked fewer than five PAP drugs. Now they are recovering costs from a growing list of more than 30 drugs. By partnering with McKesson and leveraging MedSource, SwedishAmerican has also helped to increase the pharmacy’s savings by more than 2500%. As an added convenience, the cost of MedSource is simply a percentage of the value of the product recovered.
- Industry News