Pharmacy Model Expansion: Digital Health Edition
By Samantha Pomeroy, IPC Pharmacy Services Director
A large part of what we do in the Pharmacy Services Department at IPC is provide one on one consultation with our members around their pharmacy business needs. Consultations range from day-to-day workflows, operations, payer contracts, implementing clinical programs, and how to expand the pharmacy business model beyond dispensing. From this direct contact with our member pharmacies, we have gained valuable insights into industry shifts, what areas of the business our members are focusing on the most, the struggles they have, and their successes.
In reviewing the consultation cases and conversations we had with members in 2024, one topic has continued to stick out the most, that being none other than Digital Health.
I know, I feel like some of you are saying “Digital Health again”? But yes, Digital Health again!
What I have learned is that Digital Health is no longer a future concept, it is a present necessity and great way to expand your pharmacy business model.
Integrate Telemedicine
Partnering with a telemedicine provider can be a great way for your pharmacy to be a form of supplementation to the area providers in your community. When a patient cannot get in to see a doctor or simply cannot afford it, offering a path for your patients with access to an affordable telemedicine provider is just one way you can be a part of closing a gap in patient access to care in your community.
With this addition, a patient can complete a telemedicine visit with a provider from the comfort of their own come, fill the prescription with their local pharmacy, add any additional wellness items needed over the counter, have the prescription and items delivered, and be counseled virtually by a pharmacist they trust.
With integration of telemedicine, independent pharmacies can transform from the final link in the healthcare chain to a comprehensive healthcare solution for their local communities.
The Virtual Effect: Medication Therapy Management (MTM)
Digital Health is revolutionizing how pharmacists interact with patients. Telehealth platforms and technology provide you with tools to virtually connect with patients. This is a much-needed option for patients in rural areas, those with mobility challenges, or anyone seeking added convenience.
Building a program around medication therapy management (MTM) services via telehealth is another great way to expand your pharmacy model. Bundling this service with medication packaging and synchronization for a monthly subscription cost for loved ones trying to take care of their elderly family is an excellent approach for a cash pay model. You can also work with employers to provide virtual MTM services as a corporate wellness benefit. These are just a few examples, as digital health offers numerous possibilities.
Remote Patient Monitoring: Emerging Game Changer
Remote Patient Monitoring (RPM) has quickly become a game changer for many independent pharmacies and the success their patients are seeing speak for themselves.
Utilizing virtual healthcare technology platforms and digital medical devices to monitor, collect, and transmit data to health care providers, including pharmacies has allowed for early detection of complications, personalized interventions, decreased hospitalization, and better adherence for an all-around healthier patient.
Remote Patient Monitoring is an exciting opportunity to expand your pharmacy model. With digital health technology at our fingertips there are many ways independent pharmacies can expand and integrate these services. Whether you are collaborating with a physician, health system, Accountable Care Organization, or have a cash pay model, adding RPM to your pharmacy services will be an impactful value to not only your patients but also to your local healthcare community.
Building a Strong Foundation
After reading through the information above if you are anything like me, I bet you are now saying “All of this sounds great but there isn’t enough time in the day as it is now, much less adding something else.” I get it. I have been there. I have said these things myself and hear it often.
The member pharmacies that I have seen achieve the most success when expanding into something new are those that had tough conversations about their business, implemented necessary changes, and built a strong foundation. They have researched and found a need in their community or a niche in the market and filled it. You do not have to have your hand in everything so to speak. Start small and if needed, adjust, refine, and move to fill another community need.
– Edmund Lee.
This quote emphasizes the importance of associating with ones who are actively pursuing their goals and inspiring you to do the same. So, I encourage you to do just that. Become active in your State Pharmacy Association if you are not, connect with peers, bounce ideas, and as always IPC is here to be a support system for you. Please reach out to us in the Pharmacy Services Department if you are interested in expanding your pharmacy model. We cannot wait to hear from you!
Samantha Pomeroy
Pharmacy Services Director
Samantha Pomeroy is a pharmacy professional serving as the Director of Pharmacy Services for IPC. With a career spanning over 20 years working as a Certified Pharmacy Technician and Director of Operations, she brings a wealth of experience and expertise to her role. She tirelessly works alongside our members to identify and implement innovative business solutions that elevate their practice and enhance profitability. Her commitment to the success of community pharmacies is unwavering, and she finds fulfillment in providing personalized consultations to help businesses flourish.
