9/30/2018 1 9/30/2018 Convenience Packaging: How to Market Your - PDF document

9/30/2018 1

9/30/2018 Convenience Packaging: How to Market Your Service NCPA 2018 Annual Convention Disclosure Carlie Traylor declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings, and honoraria. Benjamin McNabb declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings, and honoraria. Steve MacNeill RPh is the owner of Winchester Pharmacy, Central Street Pharmacy, Athol Pharmacy and serves on the Advisory Board for Omnicell Technologies. The conflict of interest was resolved by peer review of the content. Jeff Kirchner declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings, and honoraria. 2

9/30/2018 Learning Objectives • Discuss how to target marketing to patients and caregivers. • Examine the benefits and challenges of common types of convenience packaging. • Discuss best practices for operating a convenience packaging service in your pharmacy. • Hot Seal Types of • Cold Seal Compliance • Robotic Technology • Daily Dose Packs Packaging • Multi-dose Bubbles 3

9/30/2018 Hot Seal  Utilizes heat technology to create seal  Heat sealing machinery required  Daily and monthly packing available  Labeling applied to card https://www.integralrxsupplies.com/item/605282/Sealer-Autobond/ Cold Seal • Minimal machinery required • Medication labeling on card front • Daily and monthly versions • Ideal for quickly packaging • Ideal for heat sensitive medications https://www.pharmacyautomationsupplies.com/30-31-32-day-cork-sealing-tray-w-xl-depth 4

9/30/2018 Robotic Packaging • Often requires programming before packaging occurs • Less manual labor than other packaging options • Often easier and more convenient for travel • Labeling directly on packaging https://www.wired.com/2014/02/pillpack-uses-design-thinking-become-pharmacy-future / Daily  Pills packaged individually  One card per medication Multiple  Multiple pills in one blister  Different blisters for times of day http://www.healthmark.ca/1-20-49-COLD-SEAL-BLISTER-CARDS_en.html?ProduitID=182 https://www.omnicell.com/MTS/Products_and_Solutions_For_Pharmacy/Medication_Packaging.aspx 5

9/30/2018 Introducing adherence packaging to your workflow • Sync medications to refill the same day 1 • Organize patients on calendar system 2 • Call patient to assess medication changes 3 • Contact physician regarding changes or refills 4 • Fill medications prior to packaging 5 Revenue Opportunities • Reimbursement for packaging available • Improved adherence for patients, lower DIR fees • Assess appropriateness of charging for service • Free of charge for all patients • Free of charge for patients with X number of prescriptions or more • Labor costs for organizing and filling prescriptions 6

9/30/2018 External Marketing  Nursing Homes  Individuals with multiple prescriptions  Home Health Care Giver http://www.ideallife.com/my-ideal-life/professionals-medication-compliance/ Internal Marketing • Promote current patients • Step 1: Bottles • Step 2: Packaging 7

9/30/2018 Convenience Packaging: How to Market Your Service NCPA 2018 Annual Convention Benjamin McNabb, PharmD Owner / Pharmacist Love Oak Pharmacy 8

9/30/2018 What makes you different? • Customer service? – consumer reports say chains are catching up. • Home delivery? – some people are fine with mail order & chains are catching up. • Price? – It’s a race to the bottom. • Speed? – maybe Enhanced Dispensing = Extra Value • Master of adherence packaging logistics • Make complex medication regimens simple • Save patients time and hassle • Patients have better health outcomes • In-home access to patients with trained pharmacy personnel 9

9/30/2018 You can’t ask for a better customer! • Average 11 Rx per month • Desire to remain adherent • Many times willing to pay non-preferred pharmacy copays for the extra value the packaging provides. • Patient must get all Rx from one pharmacy • Reduced number of 90day supply fills on brand drugs – avoid poor 90 day fill reimbursement • Complex patients need other products and services How do I get an ROI? • Focus on New Customer acquisition • Grow geographic reach – lots of new potential customers • Our adherence packaging patients average 11 Rxs per month • Average Rx = $60 • Average Rx margin = $13.80 • Average margin per patient per month = $151 • Average margin per patient per year = $1,821 • How many new patients do you need to break even on your investment? • Improve EQuIPP PDC measures 10

9/30/2018 EQuIPP Improvement - Love Oak Pharmacy PDC change over time 100 90 80 70 60 50 40 30 20 10 0 Cholesterol PDC Diabetes PDC RASA PDC 2016 2017 2018 The Service Doesn’t Sell Itself! 11

9/30/2018 We made it on TV after the Cowboys won! Watch video @ www.loveoak.com/blog 12

9/30/2018 Patients don’t like change. You need a compelling message! • Pills in multi-dose adherence packaging? – NO. That’s boring • Simplicity? Easy Meds? • Convenience? Time savings? Easy travel / on the move? • Keep mom and dad home longer? Independence? • Peace of mind? Accuracy? Safety? • For FREE? • Don’t forget the caregiver! Learn from you competition! • Website design • Digital / social media marketing • Branding www.pillpack.com 13

9/30/2018 www.loveoak.com 14

9/30/2018 What makes you different from PillPack? • Enhanced home delivery • Personalized service • Local Provider Relationships • Direct physical access to the patient 15

9/30/2018 Targeted Digital Marketing Budget • “An ideal LTV:CAC ratio should be 3:1 ($1,821:$607).The value of a customer should be three times more than the cost of acquiring them. If the ratio is close i.e.1:1, you are spending too much. If it's 5:1 ($1,821:$364), you are spending too little. In fact, you are probably missing out on business.” -Controversial but well-known industry benchmark • How much are you willing to spend to acquire a NEW customer online? • $50? $100? $500? – use Data to help you decide Convenience Packaging: How to Market Your Service NCPA 2018 Annual Convention Steven MacNeill RPh Pharmacist/Owner Winchester Pharmacy 16

9/30/2018 Target Marketing to Patients and Caregivers • Evaluate current patient population for potential opportunities • Patients showing up on MTMs • Early or late refill notices (compliance issues) • Patients will home health care or family care • Patients taking medications multiple times a day • Patients with repeat hospitalizations or ER visits • Patients purchasing med planner Target Marketing to Patients and Caregivers • Conduct a local market analysis for health care professionals -VNA Groups -Home Healthcare Agencies -Primary Care Practices -Hospitals 17

9/30/2018 Benefits and Challenges of Common Types of Convenience Packaging • Multiple packaging options are available (there is not a perfect option for everyone!) • Determine best fit for your practice-Weekly/Monthly • Cost/Software Interface/Staff Training • Potential impact to daily workflow Benefits and Challenges of Common Types of Convenience Packaging • Accept the responsibility of “Complete Medication Management” • Establish strong communication with patients/families/physicians • Follow State and Federal Guidelines on multi-dose packaging • Follow manufacturers recommendations of storage and stability 18

9/30/2018 Best Practice for Operating Convenience Packaging Service • Understand patient population • Develop strong workflow and training program • Set goals early and re-evaluate process • Monitor total operational costs and reimbursement rates • Document referral sources and renew relationships • Don’t grow too fast!!!! Convenience Packaging is the Future of Retail Pharmacy! 19

9/30/2018 Convenience Packaging: How to Market Your Service NCPA 2018 Annual Convention Jeff Kirchner, RPh CEO Streu’s Pharmacy Bay Natural Target Markets for Packaging Services Assisted living Mental Adult family health case care homes managers Home health nurses Children Seniors with taking >7 meds at medications school 20

9/30/2018 Materials and Technology Materials and Technology 21

9/30/2018 Materials and Technology Types of Packaging Offered at Streu’s • Single dose compliance packs • Multi-dose compliance packs • Weekly or monthly compliance packs 22

9/30/2018 Single dose Multi dose 23

9/30/2018 Marketing Strategies • Develop marketing brochure on compliance packaging • Make sample packs to display • Put information of website • Meet with home health organizations • Talk to current customers with compliance problems • Offer other services -Transitions of care -Medication reviews -Med administration records -Falls prevention -Immunization clinics Sample Packaging 24