Long Term Care Group Purchasing Solutions (GPS)
Through our long term care group purchasing solutions (GPS), we offer LTC Pharmacies that are involved with patients who have chronic healthcare needs, such as the elderly, people who have physical or mental disabilities, and people who are diagnosed with cancer and other chronic illnesses.
Don’t have an LTC Pharmacy? Well, here is how to start a long term care pharmacy? There are several ways to set up a long term care pharmacy. If you have an existing retail pharmacy, for example, you can turn it into an open-door pharmacy and service nearby nursing homes and other long term care facilities. This is usually the easiest and least expensive option. If you have the time and budget, you can opt to create a closed-door pharmacy and cater exclusively to long term care facilities. This can lead to higher profit margins, but you’ll need to take several important steps before you can start your business. These include:
- Meeting the requirements of your state’s board of pharmacy as well as the Centers for Medicare & Medicaid Services (CMS). These requirements include providing consultations, providing delivery services, and having 24/7 on-call services.
- Obtaining certain permits and licenses from the Drug Enforcement Administration, the National Council for Prescription Drug Program, and other agencies and organizations.
- Hiring consultant pharmacists, dispensing pharmacists, pharmacy technicians, and other staff.
- Investing in dispensing software that is important in tracking prescriptions, monitoring medication administration, and managing billing.
- Investing in equipment that is needed in administering medications, such as medication carts.
If you’re curious about LTC Pharmacy Purchasing and would like more information on how to join, then get started below or send an email to [email protected]