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Community Pharmacy Freedom, Cash-Based Models & AI-Powered Medication Optimization | TWIRx

Pharmacy Podcast Network

39m
Transcript

Original podcast

Summary

Written by a model from the transcript; not yet reviewed.

This episode explores the modernization of community pharmacy, featuring discussions on cost-plus models, alternative care paths like long-term care at home, and the integration of artificial intelligence in medication management. In the first segment, the guest details how Value Drug Company partners with independent pharmacies to pilot cost-plus programs and expand access to durable medical equipment and remote patient monitoring. In the second segment, the guests explain how their platform, Areen, utilizes machine learning and ambient listening to help clinicians optimize medication therapy, reduce hospital admissions, and focus on patient care without being bogged down by administrative tasks.

  • Independent pharmacies can pilot cost-plus programs to bypass restrictive third-party contracts and lower the cost of goods for patients. 4:10
  • Pharmacists can expand holistic patient offerings by integrating durable medical equipment and remote patient monitoring into their practices. 12:57
  • Medication optimization platforms can utilize patient claims, labs, and comorbidities to surface targeted drug and dosage recommendations. 26:29
  • Ambient listening and AI tools can reduce administrative documentation burdens for clinicians, allowing them to focus entirely on patients. 28:18

Highlights

  • 4:10

    Cost-Plus Pilot Programstrategy

    Value Drug Company discusses piloting a cost-plus program with independent pharmacies in the Pittsburgh market to help them avoid restrictive third-party PBM contracts.

  • 12:57

    Remote Patient Monitoring Integrationinsight

    The discussion covers the growing integration of remote patient monitoring, creating billable events that improve overall profitability and patient health outcomes.

  • 18:29

    Mission for Safe Medicationsinsight

    The guest outlines the founding mission of Areen to ensure safe and effective medication therapy by turning complex data into actionable clinical recommendations.

  • 26:09

    Data Foundation Before AIstrategy

    The guest explains that the company built a strong data platform using machine learning first, before introducing generative AI features and ambient listening.

  • 28:18

    Ambient Listening in Clinical Practicestory

    A clinician shares her experience using ambient listening to document patient visits hands-free, which allows for better eye contact and focused conversation.

  • 34:17

    AI as a Supportive Toolinsight

    The guests emphasize that artificial intelligence will never replace human clinicians and that every recommendation ultimately relies on pharmacist critical thinking.

  • 35:19

    Adaptive Learning Loopsdata

    The discussion highlights how clinician acceptance or rejection of recommendations feeds back into the models to continuously improve future suggestions.

About this episode

Today’s episode of This Week in Pharmacy — #TWIRx is sponsored by Value Drug Company and explores two major forces reshaping pharmacy: the evolution of the community pharmacy business model and the expanding role of artificial intelligence in medication optimization and value-based care. PART ONE: The Impact of the Cash-based Community Pharmacy Special Guest: Rick Seipp, PharmD President, Value Drug CompanyCommunity pharmacy is entering a new era. In Part One, Todd Eury sits down with Rick Seipp, PharmD, President of Value Drug Company, to discuss the continued evolution and expansion of independent community pharmacy and the many different business models emerging across the profession. Independent pharmacy owners are increasingly evaluating new ways to build sustainable businesses while creating greater professional freedom for pharmacists. One of the most interesting developments is the growth of cash-based and cost-plus pharmacy models that reduce or eliminate dependence on traditional insurance reimbursement and PBM-controlled prescription economics. These models can give pharmacy owners greater control over pricing, patient relationships, clinical services and the overall direction of their businesses — while allowing pharmacists to practice with significantly less interference from insurance companies and pharmacy benefit managers. Two pharmacies in the Pittsburgh region are demonstrating how powerful this model can become:Blueberry Pharmacy — Kyle McCormick, PharmD has built Blueberry Pharmacy around a transparent, cash-based model designed to simplify prescription pricing and create a more direct relationship between the pharmacist and patient. Forward Rx Pharmacy — Brandon Antinopoulos, PharmD is another emerging example of how pharmacists can create innovative pharmacy businesses built around transparency, accessibility and freedom from many of the traditional constraints of third-party reimbursement. Todd and Rick discuss what these models mean for the broader independent pharmacy marketplace and why community pharmacy may be moving toward a much more diversified future. Sponsored by Value Drug Company, a pharmacist-led wholesale distribution partner committed to supporting the continued growth and independence of community pharmacy.https://lnkd.in/ehf76qUsPART TWO: AI-Powered Medication Optimization Special Guests:Yoona Kim, PharmD, PhDCo-Founder & CEO, ArineJenny Behan, PharmDLead Clinical Pharmacist, ArineIn Part Two, #TWIRx shifts from pharmacy business innovation to one of the most important developments occurring in clinical pharmacy: the use of artificial intelligence to optimize medication therapy at scale. Arine is an AI-powered medication optimization platform designed to improve patient outcomes and reduce healthcare costs by helping ensure patients receive the most effective and appropriate medications. Listen to This Week in Pharmacy — TWIRx on the Pharmacy Podcast Network across Apple Podcasts, Spotify, Amazon Music, iHeartRadio, YouTube and all major podcast platforms. Pharmacy Podcast Network — Amplifying the Voice of Pharmacy.

Transcript

0:00
39:41

6,563 words · 6 speakers

Topics

  • Community Pharmacy
  • Cost Plus Models
  • Medication Optimization
  • Artificial Intelligence
  • Remote Patient Monitoring
  • Pharmacy Wholesalers
  • Clinical Practice

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