EnlivenHealth’s Medicare Match Solution is Designed to Enable Pharmacies to Strengthen Patient Relationships and Increase Revenues by Helping Patients Choose the Medicare Plan That Best Meets Their Needs
RALEIGH, NC – August 23, 2022 – EnlivenHealth®, the retail pharmacy solutions division of Omnicell, Inc. (Nasdaq: OMCL), today announced the results of a new national survey administered by EnlivenHealth, which found that a majority of retail pharmacists surveyed fear losing their high-value, Medicare-eligible patients when those patients choose a Medicare plan that is out of the pharmacy’s network. Underscoring the significance of these findings for the retail pharmacy industry, the EnlivenHealth survey found that 70 percent of those pharmacists who responded say a third or more of their pharmacy revenue comes from Medicare-eligible patients.
EnlivenHealth’s first-ever Pharmacy Medicare Patient Engagement Survey asked pharmacists what concerns their patients expressed to them regarding their Medicare Part D plans. More than 78 percent of responding pharmacists said their patients indicated they are worried about their preferred pharmacy not being in-network if they choose a different plan. More than half of the survey respondents said their patients also expressed concern about increased drug copays and the overall cost of those Medicare plans.
In an effort to help pharmacies retain their high-value, Medicare-eligible patients, EnlivenHealth offers Medicare Match, a comprehensive suite of Medicare plan comparison and selection tools that are designed to enable pharmacists to assist their patients in choosing the plan that best meets a patient’s needs. With Medicare Match – featuring the NavigateMyCare.com plan comparison website for patients – pharmacies should be able to help their patients choose an affordable Medicare Part D plan that covers the patient’s specific medication needs. This should result in healthier, happier patients and stronger business results for pharmacies.
“Medicare-eligible patients are often the life blood of the retail pharmacy, which is why we believe the majority of pharmacists responding to our national survey were so concerned about losing these valuable patients when these patients choose a new Medicare plan,” said Danny Sanchez, senior vice president and general manager of EnlivenHealth. “We have been working closely with pharmacies large and small to empower them to retain their Medicare-eligible patients by helping patients successfully navigate the major life event of enrolling in a Medicare plan that’s right for them. With our Medicare Match solution, we believe pharmacists can further enhance their growing role as a trusted community healthcare provider and advisor focused on their patients’ health and wellbeing.”
‘Insufficient Staffing’ Seen as Barrier to Advising Patients on Medicare Plan Selection
More than half of the pharmacists responding to the EnlivenHealth survey ranked “insufficient staffing” as the top barrier to implementing a Medicare plan comparison solution in their pharmacies. For those pharmacists who have the staff to provide Medicare plan advice to their patients, respondents indicated in-person communication was the preferred method. According to the survey, 75% of responding pharmacies use in-person communications to regularly engage with their patients about Medicare Part D plan enrollment.
Commenting on EnlivenHealth’s Medicare Match solution, Nicolette Mathey of Palm Harbor Pharmacy in Palm Harbor, FL, said: “Medicare plan comparisons have always been important for our pharmacy to ensure our patients can afford their medications and, ideally, save money. In our view, Social Security and pension benefits have not increased their payments enough to counter current levels of inflation. We think inflationary pressures make plan comparisons even more important for this year’s Annual Enrollment Period.”
“[Our] patients love the Medicare enrollment consultations we provide,” said Steve Adkins of Health Park Pharmacy in Raleigh, NC. “Last year, we [generally] saved all [our] patients $250,000 to $300,000 by helping them compare Medicare Part D plans with Medicare Match from EnlivenHealth.”
Other findings of the Pharmacy Medicare Patient Engagement Survey include:
- 70 percent of respondents indicated that at least a third of their patients are Medicare-eligible
- 54 percent of respondents indicated that they’re “very active” or “extremely active” in helping patients choose a Medicare Plan
- 73 percent of respondents stated that they regularly communicate with their patients about Medicare Part D enrollment
- 82 percent of respondents indicated that they want to improve adherence and health outcomes for their Medicare-eligible patients
Survey Methodology
The EnlivenHealth survey was conducted in July 2022; 14,450 retail pharmacists were surveyed, of which 375 retail pharmacists completed the survey. Results are intended to provide information on expectations concerning pharmacy patients’ Medicare Plan selections. The results of EnlivenHealth’s survey reflect only the perspectives of those pharmacists that responded and EnlivenHealth does not maintain or represent that the information, analyses, and/or conclusions reflect the perspectives of all pharmacists.
About EnlivenHealth®
EnlivenHealth® builds advanced patient engagement, financial management and population health technology solutions that enable retail pharmacies and health plans to measurably improve the health of their patients and members, while ensuring the long-term health of their business. With the recent acquisitions of FDS Amplicare and MarkeTouch Media, EnlivenHealth® now offers the industry’s most comprehensive suite of SaaS technology solutions that help retail pharmacies and health plans to transform and thrive in this new era of digital-driven healthcare. Currently, more than 50,000 retail pharmacies nationwide deploy EnlivenHealth®/FDS Amplicare/MarkeTouch Media technology solutions. EnlivenHealth® is a division of Omnicell, Inc. (Nasdaq: OMCL), a leading provider of medication management solutions and adherence tools for healthcare systems and pharmacies. To learn more, visit EnlivenHealth.co.
ENLIVENHEALTH is a registered trademark of Omnicell, Inc. or one of its subsidiaries.
About Omnicell
Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the autonomous pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Healthcare facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. Institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell’s innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions. To learn more, visit www.omnicell.com.
Forward-Looking Statements
Certain statements contained in this press release relate to the expected benefits and objectives of EnlivenHealth’s products and services, including Amplicare Clinical Solution (and any implied financial impact in connection with the foregoing). These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results and other events may differ significantly from those contemplated by forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties some of which are beyond our control. These risks and uncertainties include, among other things, (i) risks related to the ongoing COVID-19 pandemic (including new variants of the virus), (ii) Omnicell’s ability to take advantage of growth opportunities and develop and commercialize new solutions and enhance existing solutions, (iii) continued and increased competition from current and future competitors in the medication management automation solutions market and the medication adherence solutions market, (iv) unfavorable general economic and market conditions or reduction in demand for our solutions, (v) risks related to Omnicell’s investments in new business strategies or initiatives, including its transition to selling more products and services on a subscription basis, (vi) any disruption in Omnicell’s information technology systems and breaches of data security or cyber-attacks on its systems or solutions, including the previously disclosed ransomware incident and the legal, reputational and financial risks resulting from it and/or additional cybersecurity incidents, as well as the effectiveness of business continuity plans during any future cybersecurity incidents, (vii) Omnicell’s ability to meet the demands of, or maintain relationships with, its institutional, retail, and specialty pharmacy customers, and (viii) other risks and uncertainties further described in the “Risk Factors” section of Omnicell’s most recent Annual Report on Form 10-K, as well as in Omnicell’s other reports filed with or furnished to the United States Securities and Exchange Commission (“SEC”), available at www.sec.gov. Forward-looking statements should be considered in light of these risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this press release speak only as of the date of this press release. Omnicell assumes no obligation to update any such statements publicly, or to update the reasons actual results could differ materially from those expressed or implied in any forward-looking statements, whether as a result of changed circumstances, new information, future events, or otherwise, except as required by law.
Contact:
Eric T. Reese, EnlivenHealth®
919-423-4510
eric.reese@omnicell.com