call.png  531-289-3000    email.png   info@supplychainfin.com

LKND.png FB.png YT.png

Lost Treasure

Apr 20, 2015

LTC pharmacies utilize powerful information system that enable prescription preparation to be efficient and more effective.  These systems enable exceptional patient care while enabling LTC Pharmacies the ability to track each prescription and manage each step during preparation.  Then change of custody transferred to couriers and visibility is lost. 

Prescription delivery is outsourced to the courier who delivers the prescription according to their business practices.  The dispatcher creates routes, assigns drivers, and then creates the invoice based upon their interpretation of the contract.  The pharmacy retains little visibility to the delivery process and their invoices lack information to adequately review the charges.  This causes pharmacy mangers to distrust courier deliveries and invoices.

My analysts focus upon factors such as destination name, time to deliver and POD signatures and have determined that most courier invoice data lacks the detail and quality.  That is why we developed our Courier Invoice Manager services to equip the LTC Pharmacy manager.  Our goal is provide the LTC Pharmacy manager visibility to the delivery of their prescriptions.   

My point to the LTC Pharmacy is that delivery information is an asset; however, courier information systems do not enable LTC Pharmacies to tap into the detail.  We enable the pharmacy to manage their 3rd largest expense, document facility delivery costs, optimize stops and perform a host of other data mining activities. 

We have found that our most difficult task is obtain invoices in electronic table formats which increases the cost to transform delivery data.  Paper invoices are available from the courier, but request the invoice in an Excel or CSV formats are flatly denied or delayed until their programs can built the electronic extract.

Same-day delivery is critical for patient care and is large portion of the LTC Pharmacy’s overall dispensing costs.  Any savings, from short-paying billing errors or optimizing deliveries, contribute to bottom line improvement.  In my opinion, our biggest value to the LTC Pharmacy delivery data store that we create.

Our basic service transforms courier invoice data and creates a quality data source that LTC Pharmacies can data-mine their courier spend and improve LTC Pharmacy operations and patient care.

I will be providing future posts will expand upon how LTC Pharmacies can identify and extract value from quality data.  Specifically, I will discuss how LTC Pharmacies can utilize our Courier Invoice Management service leverage:

  1. Accurate Information and determine how it effects cash utilization
  2. Centralized spend information to increase buying power
  3. Service Level Agreements to improve patient care
  4. Quality data and improve supplier relationships
  5. Visibility to promote compliance
  6. Predictable workflows to improve cash flow

Our Courier Invoice Management Services enable LTC Pharmacies to discover hidden assets.