Community pharmacies that tap into the latest solutions from FDS uncover new paths for growth, significantly increase profit, and strengthen community and patient health.
FORT WORTH, TX, June 26, 2019 — Community pharmacies are experiencing accelerated growth, driven by best-in-class, purpose-built population health, finance, and analytical solutions by FDS Inc. Over the last 12 months, FDS customers have adopted new care models that have enabled them to improve the health and well-being of their communities, bend the medication non-adherence curve, and become true centers of care.
“We are thrilled to be supporting the transformation that is happening in healthcare, putting community pharmacies at the core of the healthcare team,” said Adam McMullin, CEO of FDS. “This is paying off for our customers and we look to go even deeper this year with more pharmacies to help them strengthen the health of their pharmacy and community.”
In the last 12 months alone, FDS customers have driven impressive revenue and care results:
- Love Oak Pharmacy, a thriving APRx community pharmacy in Eastland, Texas, reported more than $500,000 in additional revenue by leveraging data from RxCOMPASS, powered by FDS MyDataMart, FDS’ leading analytics solution.
- On average, users of AAP ProfitAmp, leveraging FDS business intelligence capabilities, were generating more than $30,000 in profit across 69 locations studied, a recent AAP study showed. One customer generated an almost $270K of additional profit at each of their five locations, or $1.34M in total.
- FDS pharmacy customers identified missing reimbursements ranging from $8,000 to $152,000 as a result of leveraging FDS’s reconciliation services.
- The average FDS-enabled pharmacy benefitted by a 40% reduction in unreconciled payments beyond 60 days when adding FDS’ expert analyst services and support (the recent FDS study showed the difference to be an average reduction from $1.034M in unreconciled payments to$218k).
- One community pharmacy reported freeing one of three FTE pharmacists to focus on patient care as a result of the efficiencies gained from using FDS Engage for med sync, patient communication, and inventory management.
Other recognition and announcements for independent pharmacies include:
- Ben McNabb of Love Oak Pharmacy was recognized with NCPA’s Outstanding Adherence Award in 2018.
- Michael Halliwell of Balls Food Stores was recognized with APhA’s Pinnacle Award in 2018.
- Three FDS customers were highlighted in a January 2019 Consumer Reports article highlighting the personalized care given by community pharmacies.
- In June of this year, FDS announced CPESN Level 3 achievement, becoming an approved vendor in both Active Medications and Vital Signs areas. Current FDS customers can now choose FDS as their eCare plan vendor of choice at no additional charge.
“Our mid-year business review presents us with a tremendous opportunity to review how we help strengthen the health of pharmacies and their patients,” McMullin said. “Ben McNabb at Love Oak recently told us that the average pharmacy doesn’t realize how much money they are leaving on the table by not collecting correctly or offering a full slate of services. We’re working to change the course of care by equipping pharmacies to become the cornerstone for caring for and keeping their communities healthy and leading the charge into the New Era of Pharmacy.”
FDS, based in Fort Worth, Texas, provides solutions for almost 12,000 pharmacies, resulting in $40 billion in reimbursements, and is the leading provider of financial, analytics and population health solutions to community pharmacies.
FDS strengthens the health of pharmacies and their patients. We empower community pharmacies to build the clinically-focused New Era Pharmacy, enabling their business to thrive now and successfully transition to a provider of community and population health through data, insights, purpose-built technology solutions, and clinical services enablement. More about FDS at fdsrx.com