The American Associated Pharmacies and FDS, a pharmacy-centric healthcare technology company, are partnering to bring AAP members ProfitAmp, a groundbreaking business analytics tool to improve their pharmacies’ performance and profitability.
ProfitAmp provides powerful business intelligence and a unique level of detail that cannot be obtained with other BI tools on the market, according to the company.
“FDS is committed to helping pharmacies improve efficiency while positively impacting their bottom line, a mission that aligns well with AAP’s goal of providing member pharmacies with tools to enhance profitability, streamline operations and improve care quality,” AAP’s vice president of preferred partners Tracie Heyrman said. “Partnering with FDS to bring our members impactful BI solutions from an industry-leading technology company was a natural pairing, one we expect will deliver significant value and rapid ROI, while improving patient outcomes and strengthening the pharmacy-patient relationship.”
FDS, Inc. announced today the appointment of Adam McMullin as Chief Executive Officer (CEO), effective immediately. McMullin succeeds Jake Canova, who will continue to work with FDS in an advisory capacity after spending seven years as its CEO.
“We are very pleased to partner with Adam to lead FDS. His broad experience in healthcare IT will be invaluable as the company continues to innovate and grow in pharmacy technology and beyond,” said Michael Booth, a Partner with Calvert Street Capital Partners, FDS’s majority shareholder.
FORT WORTH, TX – (NewMediaWire) – January 09, 2018 – American Associated Pharmacies (AAP) has selected FDS, Inc. to provide third-party claims reconciliation services to its growing network of independent retail pharmacies.
With the FDS partnership, AAP members will be able to manage their prescription claims for all third-party plans and monitor their receivables balance.
FDS Expands its Portfolio of Patient Care Offerings in Support of Care Coordination and Enhanced Pharmacy Services
FORT WORTH, TX–(Marketwired – Oct 11, 2017) – FDS, the pharmacy-centric healthcare technology company dedicated to helping customers succeed in today’s complex and multi-faceted healthcare ecosystem, announced today that it has successfully achieved Pharmacy eCare Plan “Level 1 capability” from Community Care of North Carolina (CCNC). The goal of this initiative is to empower community pharmacies to improve care coordination and health outcomes with use of electronic care plans.
Balls Food Stores Leverage FDS Inc.’s eNGAGE and MyDataMart to Deliver High-Value Clinical Services, Maximize Pharmacy Operations
FORT WORTH, TX–(Marketwired – Aug 16, 2017) – From medication synchronization and medication therapy management (MTM) to a robust immunization program that includes yellow fever vaccinations, Balls Food Stores (BFS) has maximized clinical services and outcomes with the help of eNGAGE from FDS, Inc. (NACDS TSE Booth #2912). On the operations side, FDS’s myDataMart enables BFS to monitor and measure pharmacy performance to ensure each of its 21 locations is operating at peak efficiency for maximum profitability.
FDS, a pharmacy-centric healthcare technology company, will feature its eNGAGE patient management platform and myDataMart business intelligence tools in booth #2912 at the National Association of Chain Drug Stores (NACDS) Total Store Expo (TSE), taking place August 19-22 in San Diego, Calif.
“Data drives pharmacy services in today’s patient-centric healthcare environment. But there is little value to even the most robust database if pharmacists cannot act upon the information promptly,” said Mike Halliwell, Director of Pharmacy & Whole Health, Balls Food Stores. “By integrating eNGAGE directly into the clinical workflow, pharmacists can access the real-time data needed to identify and close medication gaps and determine patients who would benefit from medication synchronization or other patient-focused services, thereby optimizing engagement and clinical outcomes.”
eNGAGE is an interactive platform for pharmacists and technicians to manage patient-focused activities and to meet the growing demands of Star Ratings, adherence, and pay-for-performance measures while strengthening patient relationships. With eNGAGE, pharmacists are empowered to create and manage medication synchronization plans easily, take advantage of additional revenue from MTM and immunization opportunities, and extend patient relationships with automated patient messaging by phone and text. The patient management platform also streamlines Star rating management.
BFS also utilizes myDataMart, a comprehensive business intelligence tool that enables a deeper understanding of performance across the chain and delivers insights to increase profits and enhance patient care. It features interactive dashboards and easy-to-use, customizable reports for monitoring a variety of performance metrics, including the most frequently dispensed medications and the best National Drug Codes (NDCs) for dispensing. Other metrics include the overall financial impact of each NDC on the pharmacy and fills returned to stock by patient or drug. myDataMart also tracks patients and helps identify questionable claims, and features compliance reports to identify Star Ratings and non-adherent patients.
“We expend a tremendous amount of energy and talent to help build non-dispensing functions to differentiate ourselves, such as our travel clinics and pharmacogenomics programs. As we integrate these programs with the dispensing side of the house, it is imperative that data not be siloed. That’s why it has been so important to have eNGAGE and myDataMart, to enable us to continue to evolve with the industry and our patient populations while maintaining our high standards of care,” said Halliwell.
“Retail pharmacies are challenged with maintaining quality and reducing costs while remaining competitive within today’s complex care and reimbursement models,” said Rich Bukovinsky, Executive Vice President of Business Development for FDS, Inc. “Success requires tools like eNGAGE and myDataMart that let them leverage the high volume of patient data that is flowing into pharmacies to accelerate the decisions and adjust operations to drive care quality and pharmacy profitability.”
To learn more about eNGAGE and MyDataMart, visit FDS in booth #2912 at NACDS TSE August 19-22.
About FDS, Inc.
Fort Worth-based FDS is a pharmacy-centric healthcare technology company dedicated to helping its customers succeed in today’s complex and multi-faceted healthcare ecosystem by leveraging the power of data and developing solutions that change the way healthcare is delivered, today and tomorrow. Its industry knowledge, technical expertise, and scalable, cloud-based platforms are utilized by thousands of customers to solve the many challenges pharmacies face each day, while its tools help improve profitability, streamline pharmacy workflow, and enhance clinical care and operational effectiveness. FDS solutions include automated medication synchronization services; business intelligence analytics and reporting; Star Ratings and Population Health Management; DME claims billing; third party reconciliation services and patient communication portals. For additional information or request a demonstration, please visit our website at www.fdsrx.com or call us at (877) 602-4179.
Increased Revenues, Refill Gains Identified by APRx as Top Benefits of RxCOMPASS, Powered by FDS Inc.’s myDataMart
Buying cooperative shares study results demonstrating financial gains generated by robust pharmacy business intelligence tool
FORT WORTH, TX–(Marketwired – Jul 20, 2017) – RxCOMPASS reports generated gains of more than 1,800 prescription refills and net revenues of $171,000 at six American Pharmacies (APRx) member pharmacies over a 33-week period, while five other APRx pharmacies realized significant gains in refills and increased revenues by $108,000 in just 16 weeks. Those were the findings of two studies on the efficacy of the business intelligence reporting tool powered by myDataMart from FDS, Inc. that were released by the member-owned buying cooperative at its annual shareholder meeting, which took place in June in San Antonio, Texas.
“The daily and weekly performance reports generated by RxCOMPASS drive value by identifying key operational opportunities like gross profits, prescription revenues and missed refills,” said John Cooper, Vice President, Sourcing & Consulting Services, APRx. “In particular, the Refill-on-Time report that is pushed daily to subscribing pharmacies has proven highly effective at increasing refill volume and improving timeliness.”
American Pharmacies was established in 2002 to protect the interests of independent community pharmacies and increase members’ profitability. In keeping with that commitment, APRx partnered with FDS to provide its member pharmacies with a comprehensive business intelligence tool that provides a deeper look into their pharmacy operations. Powered by FDS’s myDataMart, RxCOMPASS identiﬁes key dispensing and operational trends and income-driving clinical opportunities by analyzing dispensing data through the pharmacy management system.
“RxCOMPASS, powered by myDataMart, offers APRx member pharmacies a robust array of dashboards and graphical reports to help them manage patient adherence, Star performance measures, new and lost patients, dispensing analysis and more,” said Rich Bukovinsky, Executive Vice President of Business Development for FDS, Inc. “It is compatible with most pharmacy systems and supports population health management efforts, such as vaccination tracking, to ensure pharmacies can leverage every opportunity to improve patient outcomes, strengthen the pharmacy-patient relationship and maximize revenues.”
Throughout the 2017 shareholder meeting, one major area of focus was the Refill-on-Time report, which tracks the timeliness of refill activity and allows pharmacies to prioritize patient outreach based on multiple factors, including patients with the largest gap in therapies and the highest gross-margin. From within the report, pharmacists can link to a list of patients who did not refill scheduled prescriptions during the previous week.
“Reaching out to just a few of these patients can produce real results that pharmacies can then build upon,” said Laird Leavoy, Senior Vice President of Sales & Operations, APRx. “The Refills-on-Time report not only helps improve maintenance medication refills, but has proven to help our stores improve Star ratings through identification, prioritization and determination of optimal candidates for Med Sync or Auto-Refill.”
He points to the results of a 16-week study of five participating APRx pharmacies, which revealed that RxCOMPASS reporting generated benefits including:
- Gains of 2 fills per patient
- Increased revenue-per-script of more than $108 and overall revenues of more than $108,000
- Increased profit-per-patient of more than $29 and overall profit of more than $14,000
Member pharmacies were equally enthusiastic about the benefits of RxCOMPASS. These include Benjamin McNabb, Pharmacist/Owner, Love Oak Pharmacy in Eastland, Texas, who says that the calls made to patients on the Refill-on-Time report out-perform the pharmacy’s automated reminder messaging.
“We track the actual prescription numbers, so we can cost-justify the five hours a week spent on the calls,” said McNabb. “You want to prioritize calls based on the best patient opportunities. It’s also an ideal time to remind patients of other services like Med Sync and immunizations. You can do some meaningful outreach.”
Other member pharmacies point to the Daily Performance Report as a key benefit of RxCOMPASS. A snapshot of the pharmacy’s previous-day performance, the report summarizes prescription revenues, gross profit, opportunities/low hanging fruit, prescriptions sold at a loss, and claims paid at Usual & Customary (U&C) prices compared to FDS’s calculated U&C. A monthly report displays missing and new patients and the pharmacy’s Star Ratings Compliance Scorecard for each claim adjudication plan.
“One of my most compliant stores was losing money, so I looked at the performance report and discovered they were using a size on a generic that was not covered. It just took one phone call to say ‘hey, use a different size,’ and they suddenly became profitable,” said Alton Kanak, RPh, Vice-Chair of the APRx Board of Directors and Owner of five APRx pharmacies in Texas.
Adds Vance Oglesbee, RPh, APRx Board Member and Owner of Hometown Pharmacy in Fairfield, Texas, “I’m amazed at how much extra money we’ve made just by reviewing the things we do every day to check for inaccuracies. I’m quickly becoming a believer.”
About FDS, Inc.
Fort Worth-based FDS is a pharmacy-centric healthcare technology company dedicated to helping its customers succeed in today’s complex and multi-faceted healthcare ecosystem by leveraging the power of data and developing solutions that change the way healthcare is delivered, today and tomorrow. Its industry knowledge, technical expertise, and scalable, cloud-based platforms are utilized by thousands of customers to solve the many challenges pharmacies face each day, while its tools help improve profitability, streamline pharmacy workflow, and enhance clinical care and operational effectiveness. FDS solutions include automated medication synchronization services; business intelligence analytics and reporting; Star Ratings and Population Health Management; DME claims billing; third party reconciliation services and patient communication portals. For additional information or request a demonstration, please visit our website at: www.fdsrx.com or call us at (877) 602-4179.
About American Pharmacies
Based in Corpus Christi, Texas, American Pharmacies is a multi-state, member-owned buying cooperative for independent pharmacies. Founded in 2002, APRx is a leading political and legal advocate for members in Texas, Louisiana, New Mexico and Oklahoma. For more information, please visit www.aprx.org.
(PRLEAP.COM) October 4, 2016 – Baltimore, MD – Today, FDS, Inc. announced that QS/1 has successfully integrated the eNGAGE Patient Management platform into QS/1’s workflow process.
eNGAGE is an interactive platform for pharmacists and technicians to manage patient-focused activities, including Five-Star measures, prescription synchronization, MTM events, immunization opportunities and patient-safety measures. Offering the eNGAGE Alert functionality inside QS/1’s NRx® and PrimeCare® Pharmacy Management Systems provides great convenience and added patient detail. The QS/1 pharmacy systems provide color coded adherence measures and hyperlinks directly to the eNGAGE Alert portal, allowing patient-focused opportunities.
“We are excited to work with the team at QS/1 to implement eNGAGE into their pharmacy management systems. QS/1 and FDS are working together to help community pharmacies better serve their patients, increase revenues and compete in today’s pharmacy marketplace,” said Rich Bukovinsky, EVP Business Development for FDS, Inc.
“Through this partnership with FDS, and the eNGAGE Alert program, we can offer customers additional tools to increase patient adherence and improve overall patient outcomes. Heightened focus on overall patient health has placed a premium on ensuring patients are adherent. Partnerships like this one will keep our customers competitive in the pharmacy marketplace now and in the future,” said Jon Bell, Market Analyst for QS/1.
About FDS, Inc.:
FDS, Inc. offers professional, comprehensive and affordable business solutions that immediately impact your profitability by providing tools to manage your patients, third-party receivables, Five-Star measures, DIR fees and much, much more. FDS’ leading-edge business analytics tools are simple to use but provide a robust array of dashboards and graphical reports to make your data meaningful and useful. FDS’ products and services help you connect to your patients 24 hours a day, analyze and better understand your business and manage your patients. For additional information or to request a demonstration, please visit our website atwww.fdsrx.com or call us at 877.602.4179.
QS/1 offers industry-leading healthcare software solutions to effectively manage independent, chain, hospital outpatient and long-term care pharmacies and HME businesses. QS/1 complete software solutions are flexible and scalable, making them a valuable and affordable productivity tool for pharmacies – large and small. QS/1 is a division of the J M Smith Corporation, one of the largest privately-held companies in South Carolina. For additional information about QS/1 and the products and services it provides, visitwww.qs1.com or call 800.231.7776.
(PRLEAP.COM) September 20, 2016 – Baltimore MD – FDS, Inc. today announced a strategic partnership with SRS pharmacy Systems Computers to offer FDS’ myDataMart business analytics tools and enGAGE patient management services to their PKon Rx Pharmacy System customers.
myDataMart provides PKon Rx users a comprehensive business intelligence tool that provides a deeper look into their pharmacy operations. myDataMart provides a robust array of dashboards and graphical reports to PKon Rx users to help them manage patient adherence, Five Star performance measures, new and lost patients, dispensing analysis and much, much more.
eNGAGE is an interactive platform for pharmacists and technicians to manage patient‐focused activities including Five Star Measures, Medication Synchronization, MTM events, immunization opportunities and patient safety measures. eNGAGE provides the pharmacy staff a way to manage today’s patient adherence and P4P measures while also providing a view into additional patient services opportunities.
“We are excited to work with the team at PKon Rx to make myDataMart and eNGAGE available to the PKon Rx customer base. SRS Pharmacy Systems and FDS are working together to help community pharmacies compete and succeed in today’s pharmacy marketplace,” said Rich Bukovinsky, EVP Business Development for FDS, Inc.
“The FDS integration will bring additional features to SRS pharmacies helping them to compete more effectively in today’s changing marketplace,” said Jim Tussey, President SRS Pharmacy Systems.
About FDS, Inc.
FDS offers professional, comprehensive and affordable business solutions that immediately impact pharmacy profitability by providing tools to manage patients, third party receivables, 5 star measures, DIR fees and much, much more. FDS’ leading edge business analytics tools are simple to use but provide a robust array of dashboards and graphical reports to make your data meaningful and useful. FDS products and services help pharmacies and managed care organizations connect with their patients 24hrs a day, analyze and better understand their business, while also offering population health management tools. For additional information or request a demonstration, please visit our website at: www.fdsrx.com or call us at (877) 602‐4179.
About SRS Pharmacy Systems Computers
An integrated Pharmacy Management software and systems provider servicing customers throughout the United States, SRS develops solutions that encompass the needs of community pharmacy. Key modules include Rx Scanning, RPh Verify, POS w/IIAS, electronic signature capture, Smartphone and web refills, Surescripts®, HIPAA, IVR, EDI inventory, Visa/MC/debit/credit card processing, LTC MAR printing, A/R, and thermal/laser printing. Services include web security, off‐site backup, EFT payroll, health insurance, facility insurance and retirement benefits. SRS internally develops, supports and services all hardware, software, systems as well as manages pharmacy IT functions, allowing pharmacies to focus on their primary business. SRS customers have just one phone number to call for their pharmacy, business, and IT needs. One System, One Vendor, One Call. SRS Pharmacy Systems Customer Support: (800) 673‐6226.
American Pharmacies (APRx) announced that it has partnered with FDS, Inc. to provide myDataMart’s powerful data analytics to all of its member pharmacies at no charge.
“This is a one-of-a-kind business tool that our members can use to improve their performance and profitability,” APRx President Mike Gohlke said.
Beginning in March, FDS will host weekly training webinars for all enrolled APRx pharmacies.
AmerisourceBergen Unveils Suite of Enhanced Capabilities for Independent Pharmacies at ThoughtSpot 2015
New Services Designed to Improve Patient Care and Support Fair and Transparent Reimbursement for Pharmacists
LAS VEGAS, July 31, 2015 /PRNewswire/ — In today’s fast changing healthcare environment, independent pharmacists seek resources that help them drive positive health outcomes, improve profitability and enhance their role as a vital source of patient care in their communities. At ThoughtSpot 2015, Good Neighbor Pharmacy’s annual tradeshow and conference, AmerisourceBergen announced a new set of innovative capabilities that will strengthen its Pharmacy Services Administration Organization and help independent pharmacies endure the industry’s most pressing challenges, including pressure on profit margins, narrowing networks and reimbursement challenges.
“AmerisourceBergen and Good Neighbor Pharmacy are committed to providing community pharmacists with the resources they need to transform their businesses, adapt to industry changes and to leverage their collective voice to shape the delivery of pharmacy services,” said David Neu, executive vice president of retail strategy at AmerisourceBergen and president of Good Neighbor Pharmacy. “Over the past year we’ve made a series of targeted investments that will support independent pharmacies in their efforts to improve patient care and receive fair and accurate reimbursement for their services.”
During today’s general session, AmerisourceBergen leaders unveiled the organization’s revamped Pharmacy Services Administration Organization. Bolstered by a core of enhanced capabilities, the newly-named Elevate Provider Network will support independent pharmacies in their efforts to improve profitability through enhanced patient care, better business practices and by leveraging centralized data to support reimbursement discussions with payers. Highlights of the new service, which will enable Good Neighbor Pharmacy to provide its network members access to its Premier-level services, include:
- A new patient engagement center and capability set, powered by PrescribeWellness, that independent pharmacies can leverage to drive adherence and enhance patient care, ultimately creating the potential to improve CMS Star ratings and increase reimbursements
- Access to pre- and post-claims editing services through Emdeon, a leading provider of revenue and payment cycle management, which will help reduce claim errors, improve pharmacy profits and provide greater transparency into payer reimbursement
- An expansion of its central pay capabilities with the addition of claim reconciliation services powered by FDS, Inc., which enables pharmacists to monitor their receivables balance
- A revamped InSite pharmacy performance tool that will now include front-of-store sales data displayed in its popular peer benchmarking view, allowing pharmacies to measure performance against similar stores
- A new mobile application that will notify pharmacists of key information they need to manage their business at the touch of a finger, such as the next day’s bank deposits and a six-month trending view of their performance in the four highly-rated CMS Star clinical measures
“AmerisourceBergen believes that community pharmacy is a key delivery point for high-quality and accessible health care. It’s a great and humbling responsibility to provide pharmacists with the resources they need to optimize and grow their businesses,” Mr. Neu said. “The enhancements announced today will support the delivery of true community healthcare by enabling independent pharmacists to further support patients, operate their pharmacies effectively and combat growing industry challenges surrounding reimbursement.”
Good Neighbor Pharmacy’s 2015 Pharmacy of the Year Award was announced during general session. Topeka Pharmacy received the esteemed award for exemplifying what it means to be a Good Neighbor Pharmacy in their commitment to enhancing patient care and lives in local communities.
During the general session, AmerisourceBergen leaders announced that the company pledged to match up to $50,000 for any contributions made to the National Community Pharmacists Association Foundation (NCPAF) between July 30 and August 31. The donation will benefit the Foundation’s disaster relief and pharmacy assistance fund and support independent community pharmacies who are affected by natural disaster or other adverse circumstances.
For more information on the ThoughtSpot conference, please visit: http://www.thoughtspot2015.com/.
AmerisourceBergen is one of the largest global pharmaceutical sourcing and distribution services companies, helping both healthcare providers and pharmaceutical and biotech manufacturers improve patient access to products and enhance patient care. With services ranging from drug distribution and niche premium logistics to reimbursement and pharmaceutical consulting services, AmerisourceBergen delivers innovative programs and solutions across the pharmaceutical supply channel in human medicine and animal health. With over $120 billion in annual revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs approximately 16,000 people. AmerisourceBergen is ranked #16 on the Fortune 500 list. For more information, go to www.amerisourcebergen.com.