PHARMACY PROVIDER
SERVICES CORPORATION
May 2006 Newsletter

How Are You Coping with Medicare Part D?

Whew! It’s been quite a year so far. Despite payment delays, low reimbursements, enrollment problems and overall confusion created by Medicare Part D, pharmacies across the nation are hanging tough and finding creative ways to cope. PPSC recently talked with a number of pharmacy owners to find out what strategies they are using to meet these challenges. Over the next few months PPSC will be presenting a series of interviews with owners just like you that describe how they are adapting their businesses. Take a look at a few of their strategies listed below and think how they might help your business. PPSC wants to know what strategies you’re using so we can share your ideas with other members.

Improve Cash Flow – use Per Se’s ProviderPay claim reconciliation, and payment recovery services to help you electronically reconcile claims and identify underpayments or unpaid claims. They even offer an Optional Advanced Funding service that enables any pharmacy to turn Medicare Part D and other third party claims into immediate cash. A pre-determined percentage of your claims’ adjudicated value, as determined by PBMs, is deposited into your account from a Zions Bank line of credit, generally within 48 hours. Go to www.providerpay.com or call 877-540-4748.

Look for New Niches – expand into compounding, DME, health screenings, homeopathy, home infusion, LTC, Medicare Part B, Medication Therapy Management, nutrition, or specialize in female, pediatric and senior care issues, specific disease states (i.e., asthma, cholesterol, diabetes) and even consider veterinary drug therapies.

Work Smarter – use Freedom Data or Per Se’s pre-and post editing and claim reconciliation systems, install automated counting and dispensing systems from AutoMed or Innovations, begin using IVR telephone systems like Telemanager or Voice-Tech, implement customer loyalty programs from Lynk, and use targeted advertising methods like those offered through AmerisourceBergen’s Good Neighbor Pharmacy.

Cut Costs – focus on the bottom line by buying better with PPSC GOLD and AmerisourceBergen, use PPSC’s Florida pharmacy owners’ workers compensation program, and maximize discounts and rebates available to you from PPSC’s partners. Go to www.ppsconline.com for a complete list.

Improve Profitability – earn non-dispensing medication therapy management (MTM) payments from FloridaQRE and AvMed Medicare Part D through Outcomes (www.getoutcomes.com ), expand into specialized compounding, participate in Freedom Data’s and Per Se’s compliance, persistency and market share programs, earn higher generic rebates with PPSC GOLD, maximize generic dispensing, use Good Neighbor Pharmacy private label products, reduce third party claim rejections and promptly reconcile remittances with Freedom Data and Per Se.

These strategies are just a glimpse of what pharmacies are using to keep growing their businesses. Feel free to share what’s working for you with PPSC so we can encourage other pharmacy owners and give them ideas that will help them thrive. Email PPSC at customerservice@ppsconline.com or send a toll-free fax to 1-866-7568415 with your ideas and we will share them with your colleagues in future articles.

Medicare Enrollment Deadlines:

The deadline for enrollment in the Medicare prescription plan is May 15^thif you have Medicare eligible customers who have not enrolled in a Medicare Prescription Plan the deadline is quickly approaching. Seniors who enroll after May 15^th may incur higher premiums as a penalty for late enrollment.

Encourage your Medicare eligible customers to contact CMS at 1-800-MEDICARE or www.medicare.gov for assistance in selecting the Medicare Prescription Plan that best meets their needs.

PPSC is the Network Administer for the following Medicare Prescription Plans: BCBSF Medicare Part D, AvMed Medicare Part D (Broward and Dade counties), WellCare Medicare Part D, and United AARP.

BCBSF Medicare Part D – Time is Running Out!

Increased premiums (commonly referred to as penalties) will be applied to enrollment after May 15^th.
BCBSF has the largest list of covered drugs (largest formulary).
Few if any drugs require prior authorization.
No requirement to try an over-the-counter drug (no step therapy).

AmerisourceBergen Tradeshow:

The annual AmerisourceBergen National Healthcare Conference & Exposition (NHCE) is a busy place—it’s where you find the retail solutions that drive your business forward, it’s where you learn new business and professional skills while earning continuing education credits, and it’s where you find the great buys that boost your bottom line. But it’s also where you can relax and have some fun!

“The 2006 National Healthcare Conference & Exposition will continue our tradition of excellence with a show that gets better every year,” says Kristin Hodgson, Manager, and Corporate Marketing. “And as a thank you to all our customers we’ve once again put together another great line-up of entertainment.”

True to our tradition, we will close the show with a spectacular Final Night Party. This year, we’ll get the party started with our Prize Giveaway Ceremony. You won’t want to miss it—you’ll need to be present to win one of the great NHCE prizes!

Even if it’s not your lucky night to win a prize, you’ll have cause to celebrate when the Steve Miller Band hits the stage. The Steve Miller Band has been packing concert venues worldwide for decades delivering its timeless classics such as Fly Like an Eagle, Jet Airliner, Jungle Love, Space Cowboy, and more. You’ll find yourself caught up in the exhilarating performance as the Steve Miller Band plays the legacy songs you know so well. The fun will last throughout the party; the memories will last a lifetime.

Join us at the 2006 AmerisourceBergen National Healthcare Conference & Exposition. PPSC is hosting a reception for PPSC members and other interested pharmacies on Thursday, July 13^th. We know you come for the exceptional educational opportunities, business-enhancing solutions, and great buys. We invite you to come for the good times and great entertainment, too. We’re looking forward to seeing you there.

PPSC Gold & Pharmacy Select:

If you’re currently an AmerisourceBergen customer, PPSC GOLD is a great way to maximize your profits. Qualified AmerisourceBergen customers can earn $500 for upgrading to PPSC GOLD.

If you use another wholesaler, there’s no better time than now to switch to AmerisourceBergen. There’s no risk or enrollment fee to join. Just be (or become) an AmerisourceBergen/PPSC customer and purchase at least $50,000/month and 90% of your drugs from AmerisourceBergen. It’s that simple.

You may qualify for a $1,000 bonus just for switching to AmerisourceBergen when you join PPSC GOLD.

It’s easy to join. Just email PPSC at customerservice@ppsconline.com or call PPSC toll-free at 1-888-778-9909 for more information. Don’t delay, join PPSC GOLD today and regain lost profits.

Pharmacy owners, who are not quite ready for the PPSC Gold commitment, may qualify for PPSC Silver status. IF you are contracted with PPSC and youpurchase primarily with AmerisourceBergen you can earn PPSC Silver

rewards which include (1) eligibility for all PPSC services and programs other than GOLD services, (2) access to Pharmacy Select as your back up contract to ProGenerics and participation in PPSC Network programs in your area. Call 1-888-778-9909 to learn how you can become a PPSC Silver member today!

Industry News:

Survey Finds Pharmacists Want Part D Changes

Only 119 pharmacists out of nearly 6,000 polled called the new Medicare Part D prescription drug program a success, according to a survey conducted by the National Council of State Pharmacy Association Executives (www.ncspae.org).

Other findings include:

While the number of Part D problems has declined since January, more than half of the problems continue to require more than 20 minutes of the pharmacist’s time to resolve.
More than 50 percent of responding pharmacists still have at least 5 Part D-related problems each day.
Nearly half of the pharmacies respondents indicated that they had provided medications to Medicare recipients at no charge when Part D coverage could not be determined.
82 percent of responding pharmacists familiar with the payment cycles of Part D plans said that it took 4 or more weeks to receive payment for the medications they had dispensed.

ACP Pushing for “Prompt Pay” Bill

According to the Independent Pharmacy Fax Monitor (04/02/06), The Association of Community Pharmacists (ACP) is pushing Congress to pass a “prompt-pay” bill that would require health plans to pay pharmacies for medications filled under Medicare within 14 days. The legislation comes after a number of pharmacists have said they are losing money under the Medicare drug benefit because of payment delays.

Program Announcement:

Return Solutions. This company provides both on-site and off-site return goods services to pharmacies. They offer a unique “All 4 One” program, which returns

95% of the pharmacy’s credits in five (5) checks issued by Return Solutions. (The remaining 5% is issued directly to the pharmacy.) This program eliminates credit tracking. The first check is received within 60 days of processing. The service fee is deducted from each check. There is no up-front payment. The fee for on-site service is 11.9% (market price is 13.4%) and off-site is 9.4% (market price is 10.4%). Both services come with free shipping and destruction of non-retunables. Return Solutions is licensed with the DEA and can process all of your control drugs. The website is www.drugreturns.com Your contact person is Serina Daniels at 800-579-4804 ext. 203 email at sdaniels@drugreturns.com.

Reminder:

40% Discount for
PPSC Members For
May Course Only

May 19 & 21 Certificate Program in Non-Sterile Compounding for Technicians

Designed with the pharmacy technician in mind, this Certificate Program establishes the necessary fundamentals of Pharmacy Compounding by placing emphasis on “laboratory Skill Sets”. These practice-based learning experiences teach procedures and techniques for the preparation, presentation and quality assurance of complete range of non-sterile dosage forms.

For more information call 1 (866) 333-7811 or visit us on the web at www.medisca.net

Pharmacy Provider Services Corporation 3375-I Capital Circle NE Tallahassee, FL 32308

PHARMACY PROVIDER SERVICES CORPORATION May 2006 Newsletter