Great article from Medscape with the pros and cons for nine different practice revenue generators.
Source: 9 Ancillary Services That Can Boost Practice Revenue
The AMA Code of Medical Ethics’ Opinions on the Sale and Dispensing of Prescriptions… Virtual Mentor
As providers migrate towards an evidence-based model to increase outcomes, it is imperative to make sure patients are filling their prescriptions. In fact, 30% of all scripts go unfilled for various reasons. One way to insure medication compliance (and make some extra money) is to provide patients with an in-office dispensary. Patients fill their meds at the time of service, and best of all the practice makes the profit on the scripts – not some big box drug store. Regardless of profit potential, patients are only prescribed meds based on medical necessity and reasonable expectations for the effectiveness of the drug. The ethical question is addressed by the AMA: “Physicians may dispense drugs within their office practices provided such dispensing primarily benefits the patient.” When selecting a dispensary partner it is imperative to make sure that compliance is their #1 focus. Other options that are very attractive include no upfront fees, no inventory purchase requirements, custom formularies and real-time reimbursement software. See http://www.unyter.com
Doctors Dispensing Meds: Pros and Cons of the One-Stop Shop Model – Continuum
This is a terrific article explaining the top benefits of on-site physician dispensing. I am a big fan of the point of service convenience and economic lift this delivers to the physician’s practice. Stay tuned for more on this area of growth.
Doctor’s offices around the U.S. are now adopting in-house pharmacies, often generating tens of thousands of dollars in additional revenue. This week, we’ll analyze the pros and cons of doctor dispensed medications, and whether or not you should consider a similar system for your practice. Pros Additional Revenue According to the National Center for Health Statistics, the typical doctor sees 25 patients a day and writes 1.4 prescriptions per visit. If the practice were to make $10 on each of the 35 prescriptions, it would increase daily profits by $350 without occupying any more of a doctor’s precious time.
Source: Doctors Dispensing Meds: Pros and Cons of the One-Stop Shop Model – Continuum