FACILITY PHARMACY SERVICES
Utilizing an LTC Ventures network pharmacy allows the facility to spend more time taking care of patients and less time worrying about pharmacy services.
Most healthcare owners, managers, administrators, etc. have no idea what pharmacy pricing acronyms mean, much less how they impact their actual costs. Let us educate you and show you how we can help you maximize your savings.
LTC Ventures offers a neutral third party account management program that works as a liaison between the facility and the pharmacy. We understand the pains that a facility goes through when they are having pharmacy issues. No pharmacy is perfect, but we strive to keep the relationship friendly, service outstanding, and pricing competitive. We perform ongoing surveys to ensure the pharmacy is meeting your expectations. The LTC Ventures network of pharmacies wants to meet expectations and use these surveys to improve on patient care and customer satisfaction.
When a facility is interested in a new pharmacy provider, we will do an analysis of your current pharmacy service, address any additional needs and/or desires and expectations. We will provide an extensive list of things that are available in the industry and narrow down the items that are significant to your facility. We will use the information that you give and match you with a pharmacy most suited to your goals and objectives.
Our program will ensure that your expectations are met or exceeded. Our goal is long-term satisfaction. We focus on the pharmacy service needs of the facility. This begins with a solid contract that protects the facility as well as the pharmacy. We hear too often that a facility is stuck in a contract. These contracts are referred to as "pharmacy friendly" contracts. The facility is not protected. We will ensure that the pharmacy services agreement is friendly for both parties.
Once a facility decides to make a change, we attend the pharmacy meeting with the facility. We will create a checklist with the facility and address each item with the pharmacy during the pharmacy interview. Once the item is discussed, we will work with the pharmacy to add each item discussed to the agreement.
We want each facility that we work with to be educated in pharmacy terminology, services, operations, pricing, and the pharmacy's expectations of the the facility. We want this to be a long-term partnership between all parties.
In addition to pharmacy services, LTC Ventures has a close working relationship with several GPOs, med supply companies, foodservice distributors, laundry service companies, therapy companies, and other companies servicing health care facilities. If you are looking for savings or improved service on anything involving your healthcare business, we can help.
•CONTRACT REVIEW SERVICE – LTC Ventures will review your existing agreement to identify if we can improve financially, implement beneficial facility language, enhance terms, and give a projected percentage savings. To prevent “Torturous Interference” claims, the facility will need to hire LTC Ventures to review each contract before this work can be done.
•HISTORICAL AUDIT – LTC Ventures will review your previous month’s invoices to determine if you have been properly charged per your contract. The audit will not only tell you if you were billed properly, it will give you a projected estimate that LTC Ventures will bring in a new contract and identify if the pharmacy is using the lowest cost manufacturer. For additional information, visit
•REQUEST FOR PROPOSAL – LTC Ventures will conduct an RFP with your facility to achieve multiple bids for your new pharmacy contract. The RFP will focus on five key areas: operations, service, financial, clinical, and technology. By focusing on these 5 key areas, we will be able to achieve the best pharmacy solution for your facility. By doing an RFP, you are not required to switch pharmacy providers.
•CONTRACT IMPLEMENTATION - Once a pharmacy provider is selected through the RFP service, LTC Ventures will ensure that all of the responses from the RFP are properly placed into the new pharmacy contract. This service is part of the RFP.
•NEUTRAL THIRD PARTY ACCOUNT MANAGEMENT – LTC Ventures will provide a direct point of contact between you and the pharmacy to ensure that all levels of service are being maintained per the pharmacy agreement.