Transcript Jeff Azevedo CEO - Advanced Rx Sales Team Area

Sales Rep
Process Training
Advanced Rx Management
o Point of Care Management Services Company
o Licensed Wholesale Pharmaceutical
Distributor
o Services Offered:
• Point of Care Dispensing
• Urine Drug Testing
Point of Care Dispensing
o Prescription Medications
o Topical Pain Products
o Dispensary Implementation and
Management
o Billing and Claims Management
o Program Management
Urine Drug Testing
o Prescription Drug Monitoring Through
Urine Testing
o Comprehensive Test Results and
“Dictated Reports”
o Billing Support
o Program Management
Value Propositions
o Improved Patient Care
Physician controls treatment and all medications
Leverages existing prescribing practices
o Improved Monitoring of Patients Medication Intake
o Improved Patient Convenience
o Significant Physician Revenue Opportunity
o No Upfront Cost to the Physician’s (Net 90 Implementation)
o Minimal Risk
Best Physicians to Target
Doctors That See At Least 10
Workers Comp Patients Per Week
o Orthopedic Physicians (68%)
o Occupational Medicine
o Pain Specialists / Pain Management (18%)
o Podiatrists, Hand Specialists
o Internal Medicine and other General Practitioners with a
significant workers comp patient base
Revenue Opportunity - Physicians
Physician’s Average Net Reimbursement Revenue
Per Patient:
•
Topicals = $400
•
Oral Medications = $200 (typically several dispensed at a time)
•
Urine Drug Tests = $400
We have single Physicians making over
$50K per month
Income Opportunity – Sales Reps
Sales Rep’s Estimated Commission Per Patient:
•
Topicals = $40
•
Oral Medications = $20 (typically several dispensed at a time)
•
Urine Drug Tests = $50
* Rough estimate
We have Sales Reps making over
$25K per month
FAQ
What Products & Services Does
Advanced Rx Management Offer?
o Full-Formulary Point of Care (POC) Dispensing: In-office
dispensary including software and support. Formulary
optimization, automated inventory management, practice
management integration, simplified dispensing and billing
management.
o Topical and Over the Counter (OTC) Dispensing: Unique program
that can work in conjunction with existing POC management
services to add incremental revenue to the practice by leveraging
highly effective Topical Pain Medications.
o Prescription Drug Monitoring / Urine Drug Testing: Analytical
monitoring of patients drug intake, ensure proper dosage
management and response, improve the overall care provided.
FAQ
What Products & Services Does
Advanced Rx Management Offer? (Cont.)
o Cash & Carry Pharmacy Services: Advanced Rx will provide
all necessary pharmaceutical dispensing resources to allow
any physician office to dispense medication to their patients
without the need for a pharmacy visit. This improves patient
care dramatically, while allowing doctors to capitalize on
revenue otherwise lost to pharmacies.
o Profitability Research: Product cost vs. reimbursement
analysis as well as product alternative research to keep our
physicians informed regarding different medication options
that exist.
FAQ
Why is Our Program Not in Violation
of the Stark Anti-Kickback Laws?
o All of our services work on behalf of the physician. Therefore the
physician is actually agreeing to pay us for the service we provide, not the
reverse. We do not pay the physician for dispensing medications. Rather
the physician agrees to pay us a percentage of the physician’s funds as
reimbursement for the Management Services that we provide on the
physician’s behalf.
o When physicians order medications from us, they are buying the
medications. We are not providing them on consignment; rather we are
selling them directly to the physicians.
o This is a legal requirement and not an option. Offering physician’s
medications on consignment and then paying them based on their
dispensing we would be in violation of the Stark Laws.
FAQ
Why Do Work Comp Insurance Carriers Pay Us?
o We bill the Work Comp Insurance Carriers on behalf of the
physicians. We are representing the physician.
o We always bill at the specified fee schedule for the state
involved, unless the physician has agreed to a reduced rate
with the insurance carrier.
o The billing for pharmaceuticals is based on the medications’
National Drug Code (NDC). We do not bill on J Code’s or L
Code’s, which are used for billing medical services or supplies.
FAQ
Why Are The Topical Medications That Advanced
Rx Offers NOT Considered Compounds?
o Compounds consist of a formulation of existing drugs. That is,
one compound may consist of 4 or more drugs that are
combined into a “custom” formula for specific physicians.
o They are not mass produced but rather custom made for the
specific physician.
o Our topicals have all been approved and listed with the Food
and Drug Administration (FDA) as a commercial medication –
with a single NDC.
FAQ
Typically, How Long Does it Take to Receive
Insurance Reimbursement?
o The reimbursement timeline varies by state
o Many states pay within 60 days
o Most reimbursements will be collected within 30 –
60 days and paid to the physicians through the end
of month reporting period
FAQ
Is There Any Reason for Me to Worry About Charging
Insurance Companies Too Much for My Medication Claims?
o No – Advanced Rx bills insurance carriers at state-specific
customary rates, outlined in Redbook, Orange Book, First Data
Bank, or Medi-Span.
o Insurance companies have no issue paying our claims, due to the
customary nature of our state-specific fee schedule billing.
o Should the physician feel the need to bill at a lower reimbursement,
we can accommodate these requests. We bill on behalf of the
Physician, therefore we bill at the standard rate or negotiated rate
established by the Physician.
o Physicians do not lose referrals from insurance companies for
joining our program. We have never encountered this issue with
any of our participating physicians.
FAQ
Legal & Regulatory Questions
o Legal in Most States – But Varying Degrees of Regulation
o AWP (Average Wholesale Price) Based Fee Schedules
• Provied by Redbook, Medispan, and First Databank
o Some states require Physician Dispensing Licenses
• But Not for OTC’s (e.g. Topical Pain Medications)
o Most States Have a Daily or Weekly Reporting Requirement
for Controlled Substances
o All states require a CLIA Waiver for “Point of
Care Drug Testing”
Initial Sales Call
Are they interested in learning about a way to enhance their Patient
Care while creating a significant revenue opportunity for their practice?
o No Upfront Investment
o Leverages Existing Prescribing Practices
o Generates Substantial New Revenue to Practice
o Minimal Risk – Have the Ability to Terminate Any Time
o Improved Monitoring of Patients’ Medication Intake through
“Fact Based Analysis”
Initial Sales Call
Drop Off Collateral
Set Up Physician Appointment
Folded brochure with flyers folded inside
Already Dispensing or Drug Testing?
1. Which management/dispensing/UDT company?
2. Can we provide you with a proposal to:
o lower medication pricing; improve billing; improve service
o Improve Revenue
3. Willing to consider a new drug testing program?
o Improved results reporting
o Billing support for maximum reimbursement
Competitive Strengths
Topical Pain Creams
o First to the Market
o We Are One of the Largest Distributors of
These Products
o Fax-In Program and Patient Mailing Program
Competitive Strengths
Full Formulary Dispensing
o Formulary Optimization
o EMR Integration and/or Electronic Prescribing
o Inventory Management
o No Upfront Costs!
Competitive Strengths
Urine Drug Testing
o Dictated Reports
o Medical Billing Services When Practice is also
Dispensing With Us
o Cutting-Edge LC/MS/MS Laboratory Technology
• Most Specific Level of Testing Available
Roles & Responsibilities
Sales Reps
o Initiate and Close deals
o Ensure Effective Set-Up, Training and Launch Occurs
o Work with Account Management and Billing as necessary
o Deliver Reports and Checks
o Monthly Inventory Audits (at least)
o Encourage Dispensing/Testing
o MAKE MONEY!
Roles & Responsibilities
Account Mgt. & Sales Support
o Assist with
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Collateral
Contract completion
Formulary Creation / Optimization
Software Set-up
Office Staff Orientation and Training
Medication Management
Help You Close Deals!
Elevator Pitch
o Improved Patient Care Through Point of Care
Services
• Physician Controls All Treatments and All Medications
o Improved Patient Convenience
o Significant NEW Physician Revenue Opportunity
• Leveraging What You Already Sample or Prescribe
Elevator Pitch (Cont.)
o No Upfront Cost!!!
o Process Integration and Optimization
o Supports Electronic Prescribing (Medicare)
o Best Billing and Claims Management in the
Business!
Welcome to Advanced Rx Management!