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PHARMACY IT OUTSOURCING: www .pharmacydatahosting,com
PHARMACY IT OUTSOURCING: www .pharmacydatahosting,com
IT Outsourcing: A Valuable Alternative for Independent Long-Term Care
Pharmacies
by Lisa LaRoque with OPESNET Corporation
As independent long-term care pharmacies (LTCPs) seek to better serve
their customers while remaining both profitable and competitive, they
are continuously challenged to reevaluate and adjust their business
practices to ensure long-term success in the marketplace. IT
outsourcing provides LTCPs with the opportunity to lower overall IT
costs and streamline their operations while dramatically improving
customer service levels.
Personalized Service Is Essential
Though the majority of beds in the long-term care market are serviced
by just three large chain LTCPs, the use of group purchasing
organizations (GPOs) by independent LTCPs has allowed them to
negotiate lower drug prices, garner rebates and therefore maintain
strong margins, effectively leveling the playing field between large
and small LTCPs on pricing. With drug pricing essentially being
eliminated as a competitive selling point, how are independent LTCPs
able to significantly differentiate themselves?
According to "Medicare Part D, Nursing Homes, and Long-Term Care
Pharmacies", a study conducted by staff from Harvard Medical School
for the Medicare Payment Advisory Commission, a major advantage of
smaller LTCPs over larger LTCPs is the ability to better personalize
their services and communicate directly with patients, physicians, and
administrators. Also noted was the importance of local relationships
between pharmacists, physicians, and nursing home administrators in
this business.1
The bottom line is exceptional, personalized customer service is
essential. But the ever-present challenge remains: implementing the
most cost effective operational practices that address the unique
demands of long-term care providers.
IT Outsourcing Offers Valuable Alternative
Today, information technology clearly offers real business benefit
such as increased communication, productivity and revenue. The reality
is small to medium-sized LTCPs are just as dependent as their larger
counterparts on information technology to support their operations and
serve their customers. An independent LTCP's ability to apply
technology to optimize their service delivery and operational and
administrative processes will directly affect their revenue growth and
profitability.
Because many independent LTCPs have limited access to or no in-house
IT expertise, they are relegated to marginally leveraging the value of
IT. Often the pharmacy director is also required to be responsible for
the selection, implementation and ongoing maintenance of mission-
critical business applications and the servers and network on which
they run. As a result, their attention is divided between efficiently
running the pharmacy and making sure the supporting systems are
reliably and securely functioning.
IT outsourcing offers a valuable alternative in four primary areas:
cost, complexity, security and performance.
Cost:
According to Stratecast, a division of Frost and Sullivan, IT
outsourcing generates significant cost benefits for small and medium-
sized businesses (SMBs), including:
· Access to a pool of trained and 24x7 available IT experts without
incurring the full cost - SMBs do not pay for a full-time IT person
when their needs are only part time.
· IT innovation and best practices come standard - SMBs benefit as IT
providers must stay ahead of the curve on the latest technology and
its practical application to remain competitive.
· Upfront costs are non-existent - SMBs contribute no up-front capital
expenditures, and they are not stuck with technology when it becomes
obsolete.
· IT outsourcer fees match precise business needs - SMBs gain the
ability to better match their IT investment to the fluctuations in
their business, which is a benefit to cash flow management.2
Complexity:
Information technology is a moving target and it's becoming more
complex. LTCPs are hard pressed to have all of the knowledge they need
to select, implement and maintain the correct configuration of servers
and equipment; ensure their software licensing is up-to-date and
managed properly; configure their network for optimal uptime and
connectivity; and guarantee their information and systems are secure
and HIPAA compliant. The right IT provider can cost effectively manage
these ongoing demands ( http :// www .opesnet,com /services/index.htm),
allowing the LTCP to focus on service excellence and the pursuit of
growth strategies.
Security:
Information and system security is another area of extreme
vulnerability for the LTCP. Continually working with private
healthcare information, both LTCPs and their customers are subject to
comply with HIPAA's strict rules and regulations ( http ://
www .opesnet,com /front page links/isthisyou.htm#3). Not only does
patient information need to be carefully handled within all business
applications, LTCPs need to adhere to the 17 system rules HIPAA has
mandated as well. Additionally, LTCPs need to have a firm strategy in
place to guard against system downtime, data loss and data corruption.
Working with an experienced and knowledgeable IT outsourcer can ensure
ongoing HIPAA compliance and overall information protection.
Performance:
Performance translates into productivity and exceptional customer
service - the distinguishing competitive advantage independent LTCPs
must leverage in the marketplace. IT now enables secure, remote system
access so employees can work from anywhere ( http :// www .opesnet,com /
front page links/isthisyou.htm#1). Pharmacy applications now enable
long-term care providers to place their orders online with the LTCP.
Full integration and 24 x 7 connectivity and information availability
are becoming the expected standards in the industry. LTCPs can gain a
significant competitive edge as they partner with an IT provider that
enables them to provide personalized, responsive service through the
systems they put in place to run their operations.
Sound IT Strategy Fundamental to LTCP Success
Information technology is here to stay, and independent LTCPs are wise
to embrace the value and benefits afforded by implementing a sound IT
strategy. Instead of viewing IT as a bothersome yet necessary expense,
more and more LTCPs are establishing IT as a mission-critical
strategic asset that is fundamental to the success of the pharmacy.
Because no business has an unlimited IT budget, the greatest challenge
comes in balancing investments in technology with the LTCP's business
goals and objectives. IT outsourcing gives LTCPs the ability to gain
access to the technology they need at a price they can afford ( http ://
www .opesnet,com /company/index.htm).
About OPESNET Corporation
OPESNET Corporation (www .opesnet,com ) is a nationwide provider of IT
outsourcing and consultative services and solutions designed for fast
growing, mid-sized companies with business-critical IT needs. Through
a combination of hosted and on-premise managed IT solutions focused on
Optimized Infrastructure, Unified Communications and Network
Integration, OPESNET ensures the highest levels of information
availability, security, collaboration and business continuity for its
clients at an affordable and predictable cost. Headquartered in
Alpharetta, GA, OPESNET services clients throughout the continental
U.S., with operations in Colorado, Georgia and Texas.
1 David Stevenson, Haiden Huskamp and Joseph Newhouse, "Medicare Part
D, Nursing Homes, and Long-Term Care Pharmacies", A study conducted by
staff from Harvard Medical School for the Medicare Payment Advisory
Commission (June 2007), p. A-6
2 Michael Suby, "The Planet's Hosted Microsoft SBS Service: An
attractive IT outsourcing solution for small businesses", Stratecast
(a Division of Frost & Sullivan) Whitepaper (Ó 2007), p. 2
IT Outsourcing: A Valuable Alternative for Independent Long-Term Care
Pharmacies
by Lisa LaRoque with OPESNET Corporation
As independent long-term care pharmacies (LTCPs) seek to better serve
their customers while remaining both profitable and competitive, they
are continuously challenged to reevaluate and adjust their business
practices to ensure long-term success in the marketplace. IT
outsourcing provides LTCPs with the opportunity to lower overall IT
costs and streamline their operations while dramatically improving
customer service levels.
Personalized Service Is Essential
Though the majority of beds in the long-term care market are serviced
by just three large chain LTCPs, the use of group purchasing
organizations (GPOs) by independent LTCPs has allowed them to
negotiate lower drug prices, garner rebates and therefore maintain
strong margins, effectively leveling the playing field between large
and small LTCPs on pricing. With drug pricing essentially being
eliminated as a competitive selling point, how are independent LTCPs
able to significantly differentiate themselves?
According to "Medicare Part D, Nursing Homes, and Long-Term Care
Pharmacies", a study conducted by staff from Harvard Medical School
for the Medicare Payment Advisory Commission, a major advantage of
smaller LTCPs over larger LTCPs is the ability to better personalize
their services and communicate directly with patients, physicians, and
administrators. Also noted was the importance of local relationships
between pharmacists, physicians, and nursing home administrators in
this business.1
The bottom line is exceptional, personalized customer service is
essential. But the ever-present challenge remains: implementing the
most cost effective operational practices that address the unique
demands of long-term care providers.
IT Outsourcing Offers Valuable Alternative
Today, information technology clearly offers real business benefit
such as increased communication, productivity and revenue. The reality
is small to medium-sized LTCPs are just as dependent as their larger
counterparts on information technology to support their operations and
serve their customers. An independent LTCP's ability to apply
technology to optimize their service delivery and operational and
administrative processes will directly affect their revenue growth and
profitability.
Because many independent LTCPs have limited access to or no in-house
IT expertise, they are relegated to marginally leveraging the value of
IT. Often the pharmacy director is also required to be responsible for
the selection, implementation and ongoing maintenance of mission-
critical business applications and the servers and network on which
they run. As a result, their attention is divided between efficiently
running the pharmacy and making sure the supporting systems are
reliably and securely functioning.
IT outsourcing offers a valuable alternative in four primary areas:
cost, complexity, security and performance.
Cost:
According to Stratecast, a division of Frost and Sullivan, IT
outsourcing generates significant cost benefits for small and medium-
sized businesses (SMBs), including:
· Access to a pool of trained and 24x7 available IT experts without
incurring the full cost - SMBs do not pay for a full-time IT person
when their needs are only part time.
· IT innovation and best practices come standard - SMBs benefit as IT
providers must stay ahead of the curve on the latest technology and
its practical application to remain competitive.
· Upfront costs are non-existent - SMBs contribute no up-front capital
expenditures, and they are not stuck with technology when it becomes
obsolete.
· IT outsourcer fees match precise business needs - SMBs gain the
ability to better match their IT investment to the fluctuations in
their business, which is a benefit to cash flow management.2
Complexity:
Information technology is a moving target and it's becoming more
complex. LTCPs are hard pressed to have all of the knowledge they need
to select, implement and maintain the correct configuration of servers
and equipment; ensure their software licensing is up-to-date and
managed properly; configure their network for optimal uptime and
connectivity; and guarantee their information and systems are secure
and HIPAA compliant. The right IT provider can cost effectively manage
these ongoing demands ( http :// www .opesnet,com /services/index.htm),
allowing the LTCP to focus on service excellence and the pursuit of
growth strategies.
Security:
Information and system security is another area of extreme
vulnerability for the LTCP. Continually working with private
healthcare information, both LTCPs and their customers are subject to
comply with HIPAA's strict rules and regulations ( http ://
www .opesnet,com /front page links/isthisyou.htm#3). Not only does
patient information need to be carefully handled within all business
applications, LTCPs need to adhere to the 17 system rules HIPAA has
mandated as well. Additionally, LTCPs need to have a firm strategy in
place to guard against system downtime, data loss and data corruption.
Working with an experienced and knowledgeable IT outsourcer can ensure
ongoing HIPAA compliance and overall information protection.
Performance:
Performance translates into productivity and exceptional customer
service - the distinguishing competitive advantage independent LTCPs
must leverage in the marketplace. IT now enables secure, remote system
access so employees can work from anywhere ( http :// www .opesnet,com /
front page links/isthisyou.htm#1). Pharmacy applications now enable
long-term care providers to place their orders online with the LTCP.
Full integration and 24 x 7 connectivity and information availability
are becoming the expected standards in the industry. LTCPs can gain a
significant competitive edge as they partner with an IT provider that
enables them to provide personalized, responsive service through the
systems they put in place to run their operations.
Sound IT Strategy Fundamental to LTCP Success
Information technology is here to stay, and independent LTCPs are wise
to embrace the value and benefits afforded by implementing a sound IT
strategy. Instead of viewing IT as a bothersome yet necessary expense,
more and more LTCPs are establishing IT as a mission-critical
strategic asset that is fundamental to the success of the pharmacy.
Because no business has an unlimited IT budget, the greatest challenge
comes in balancing investments in technology with the LTCP's business
goals and objectives. IT outsourcing gives LTCPs the ability to gain
access to the technology they need at a price they can afford ( http ://
www .opesnet,com /company/index.htm).
About OPESNET Corporation
OPESNET Corporation (www .opesnet,com ) is a nationwide provider of IT
outsourcing and consultative services and solutions designed for fast
growing, mid-sized companies with business-critical IT needs. Through
a combination of hosted and on-premise managed IT solutions focused on
Optimized Infrastructure, Unified Communications and Network
Integration, OPESNET ensures the highest levels of information
availability, security, collaboration and business continuity for its
clients at an affordable and predictable cost. Headquartered in
Alpharetta, GA, OPESNET services clients throughout the continental
U.S., with operations in Colorado, Georgia and Texas.
1 David Stevenson, Haiden Huskamp and Joseph Newhouse, "Medicare Part
D, Nursing Homes, and Long-Term Care Pharmacies", A study conducted by
staff from Harvard Medical School for the Medicare Payment Advisory
Commission (June 2007), p. A-6
2 Michael Suby, "The Planet's Hosted Microsoft SBS Service: An
attractive IT outsourcing solution for small businesses", Stratecast
(a Division of Frost & Sullivan) Whitepaper (Ó 2007), p. 2
