Hospice is concerned with ensuring the comfort of terminally ill people by managing their pain and other symptoms.
A PBM’s central role in the more significant healthcare business is to process claims and pay pharmacists for dispensing prescriptions. Further, they assist with formulary management and pricing discussions with pharmaceutical companies, which contribute to controlling prescription expenses.
Due to their specific requirements, hospices frequently work with pharmaceutical benefit managers and other hospice-focused pharmacy service providers. Genealogically, SpectrumPS may be traced back to the first pharmacy and PBMs that catered only to the hospice industry. Today, it provides aid to more than 450 hospices, caring for more than 90,000 patients daily.
What is the function of a hospice PBM?
Each hospice PBM provides a distinct combination of services. The following classes can be found among them:
- Medication access
- Utilization management
- Pharmacological advice
- Regulatory compliance
- Process optimization
- Pharmaceutical Access
Even though hospice patients are typically treated at home, they regularly require strong medications that aren’t available at your typical drugstore. Furthermore, their states might shift from hour to hour.
Access to medications is facilitated in various ways by hospice PBMs.Hospice pharmacy benefit managers (PBMs) may own or have distribution contracts with many off-label, or “closed door,” pharmacies around the country. However, it can be challenging to maintain sufficient coverage in some locations. SpectrumPS provides several options for businesses, all based on the utilization of retail pharmacies and, frequently, its own mail-order pharmacy that may meet next-day demands.
With its Neighborhood ConnectionsTM program, SpectrumPS assures local access to hospice-essential drugs. It includes over 7,000 actively-managed drugstore shops into a broader network of over 65,000. These pharmacies agree to stock hospice-essential drugs and meet additional service requirements. The Neighborhood Connections team assists hospices in establishing ties with pharmacies in their service area.
When a patient’s expected lifespan is less than six months, their physician may propose hospice care. Hospice signifies that the patient no longer desires a cure but rather pain relief and other symptom relief. It serves these patients with a combination of services, including medical care, emotional and spiritual support, and pharmacy services, in various places, including:
- Home of the patient or a family member
- A separate hospice area that can provide inpatient hospice treatment
- A hospice program offered by numerous hospitals
- A facility for long-term care or assisted living with a hospice unit.
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Hospice pharmacy services are administer by experienced pharmacists and consist of medication treatment management (MTM) and emotional care for hospice patients. A hospice pharmacist performs many of the same duties as a traditional pharmacist, including:
- Informing patients about the effectiveness of their medications
- Understanding which medications can have harmful interactions with one another
- Ensuring that patients receive the prescribed dosage of medication
In addition to providing these services, hospice pharmacists also manage the unique issues associated with end-of-life care. These include the complexity of MTM, the need for increased patient consultation, and knowledge of end-of-life care.
In contrast to curative medicine, hospice care not intended to prolong life and has different pharmacological goals. Lacking sufficient data, many treatments for terminally ill patients are not well-studied. The dying phase provides complex difficulties with medicine metabolism patients may need additional administration routes as their conditions progress.
Hospice pharmacy benefit managers (PMBs) should provide more than just quick access to pharmacological information and education; they should also offer clinical services unique to hospice and palliative care. This involves providing options for medication administration supported by evidence in response to worries about supply or to meet patient needs better.
SpectrumPS’s clinical support program includes strategic use management, educational opportunities, and pharmacists available 24 hours a day, seven days a week, to prescribe prescription therapy, boosting the interprofessional team. They help nurses and prescribers with numerous issues, such as:
- Complex cases
- Dose conversion
- Substitute drugs
Learn More About SpectrumPS’s Hospice PBM Options
The PBM is fundamental to hospice operations, just as drug therapy is central to hospice care. SpectrumPS recognizes that each hospice is unique and tailors its solutions to each client’s specific needs, problems, and values.
SpectrumPS is a pioneering Hospice PBM provider that prioritizes patients’ emotional and practical requirements. We alleviate the hospice staff’s administrative tasks, such as eligibility and CMS reporting, so they can focus their efforts where they are most needed.
Our team collaborates closely with hospices to custom-tailor a plan for each part of the program to provide cost savings and access to real-time data. Cost-containment strategies will be developed and implemented depending on the parameters you set, and they can be applied globally or to individual members. With round-the-clock customer service and a dedicated help desk, we will ensure that you get the assistance you require and peace of mind in knowing that you have a true PBM partner.
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