Many patients enroll in Medicare Part D plans without full comprehension of what they are getting. Plans differ in numerous ways, including: monthly premiums, annual deductibles, copays and drug coverage. Often, patients can save hundreds of dollars each year by enrolling in a prescription drug plan that is better suited for them.
iMedicare allows pharmacists to empower patients with the knowledge of prescription drug plans. Many patients don't understand the increased costs they may experience throughout the year, and are completely unaware of coverage phases. One recent example emphasizes the importance of plan comparisons, as a pharmacist was able to save his own grandmother hundreds of dollars in minutes.
Tron, a well-learned pharmacist at Elliot Pharmacy #3, was given iMedicare training on Monday, Sept 4, 2015. For the purposes of the training, he imported his grandmother, a lovely woman who has been enrolled in Medicare Part D for a number of years and who is a Dual Eligible Patient. She has been on a Humana Enhanced Plan, and was paying $487 out of pocket costs per year.
The reason her yearly expenses were incredibly high is because she was enrolled in a prescription drug plan that was charging a monthly premium of $26. Dual eligible patients should be on benchmark plans with 0 monthly premiums, 0 annual deductibles, and low copays set at $1.20/3.60, generally resulting in a low amount for out of pocket costs. Just by taking a look at the general overview of the plans available to his grandmother, Tron was able to help her select an appropriate plan where her yearly out of pocket costs were only $168. Not only did he save his grandma a considerable sum of money, he was also able to find fitting MA-PDP plans with additional health coverage for his grandmother. An added bonus? The new plan reimburses his pharmacy $700 more each month. The additional reimbursements would lead to $8,400 additional revenue on a yearly basis.
By using iMedicare and helping your patients enroll in appropriate Medicare Part D plans, you will be saving your patients money, increasing patient happiness, as well as earning increased reimbursements from your PBMs.
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