EPIC PHARMACY NETWORK
EPIC Pharmacy Network (EPN) originated in Maryland and Virginia with the purpose of assisting Independent Pharmacies in the managed care marketplace. EPN utilizes what is called the broker Module, which gives EPN the ability to negotiate contracts with PBM's, MCO's & TPA's on behalf of its provider pharmacies. If EPN signs a contract, its participating pharmacies are obligated to accept that plan. However, if EPN does not execute a contract with a particular payer or plan, the participating EPN pharmacies are free to consider that contract individually. EPN also offers an optional program called Rx Regulator that can electronically reconcile many of your third party payments. In the 10 plus years EPN has been working on be half of theirs stores , they have been able to enhance the terms and conditions of many contracts for their membership above what was initially offered . Additionally , their Rx Regulator program can potentially save pharmacies thousands of dollars annually by identifying unpaid and underpaid third party payments. EPN is expanding into Pennsylvania, New Jersey & New York by partnering with regional Buying Groups such as Keystone in Pennsylvania. PARD also agrees that network affiliation is the direction Independent Pharmacy must follow in order to be able to improve contracting for its membership. With that in mind, PARD has also endorsed the EPN program as a way to offer these services to its members that are not participating members of Keystone. Keystone Members are offered membership into EPN at a monthly fee of $ 25.00 / month . The Rx Regulator " program is an option for Keystone Members . Their EPN network fee is not dependent on their signing up with Rx Regulator "!. The fees for Rx Regulator" independent only our switching company and the # of Rx's transmitted monthly ( $ . 027 up to $ . 04 per claim ) . Their literature demonstrates that the expense for Rx Regulator " is more than of set by receiving payments for Rx's lost and / or under paid by third party payers . W H Y D O YOU NEED A NETWORK? During the past few months, you have received notices from a couple of PBM's asking you to sign up for contracts that were confusing, included very low fees, and you were given just a few days to make a decision. As part of the EPN network, EPN would have received the contracts on your behalf. Their professionals would then negotiate, on your behalf, to obtain the best terms and conditions, much like the Chain Stores have for the past many years. EPN would communicate with you upon receiving the contracts and keep you informed of their progress. Before the deadline date (EPN sometimes receives extensions to these deadlines), you will be notified if the contract was accepted by EPN. If it is not executed by EPN, you will be given their reasoning and encouraged to consider the contract individually if you wish. If EPN does not execute a contract, then you make the final decision for your store. Information is supplied in easy to understand language. Their track record in improving contract terms and conditions is excellent. WHAT IS DIFFERENT ABOUT EPN COMPARED TO THE NETWORKS OFFERED BY WHOLESALERS AND OTHER FOR PROFIT CORPORATIONS? Independent store owners own EPN, and their decisions are dependent on what is best for Independent Pharmacy ñ not on how much merchandise is purchased. They have 10 years of experience and their network in mid-Atlantic area includes 75% of the Independents, giving them the clout of a Chain Store. EPN communicates with their stores during the negotiation process, and their Help Desk is available to you 5 days a week. They can help you with almost every aspect of every plan, and have the resources to answer nearly all of your questions. No need to call the PBM help desk. Some other groups sign up for almost every plan so you will not be shut out, without regard to terms. EPN really negotiates, and will not sign up for a plan that leaves you financially strapped. EPN makes payments to stores twice a week through EFT (Electronic Funds Transfer), which could potentially improve your cash flow. The only fee incurred with EFT is a $1.00 fee per deposit ($2/week). Payments are made to stores as received, so this cannot result in the problem that occurred several years ago with the Rapid Remit program. Rapid Remit bought third party receivables and advanced the money to pharmacies for a charge. EPN DOES NOT DO THIS. EPN simply passes the money through to participating pharmacies as it receives it from the third party payers. However, for the added peace of mind of its participating pharmacies, EPN does carry $20 million in Employee Dishonesty Insurance and Bonding which covers EPN's payment administration functions. We strongly encourage you to consider the EPN Network to represent you in the ever-changing managed care market! Keystone can answer your questions also. Call Keystone at 215-331-3546. EPN questions can be answered by calling their Help Desk at: 1-800-876-EPIC 1-800-876-3742
Mel Brodsky R.Ph. CEO/President |