Maximizing Pharmacy Earnings with EQUIPP Enhanced Services
As the year draws to a close, it’s crucial for pharmacies to take full advantage of the available opportunities to maximize their earnings in EQUIPP Enhanced Services programs. Let’s dive into key strategies and action items that your pharmacy should focus on to engage, act, and earn in the final months of 2024 and then how to prepare for success in 2025.
Establishing a Plan of Action
The first step is to ensure that your pharmacy has a clear plan in place. This includes:
- Appointing a “quality champion” who will be responsible for leading the EQUIPP efforts and ensuring everyone on the team is informed and empowered.
- Determining when your team will log in to EQUIPP – at least 15 minutes per week and 20 minutes once per month should be spent within the dashboard.
- Implementing the “PACE” framework: Plan, Act, Check, and Engage. This will help you stay organized and on top of your performance goals and enhancement service opportunities.
Prioritizing Performance and Enhanced Services
As you review your EQUIPP dashboard, it’s crucial to identify and prioritize the key performance measures and enhancement service programs that will have the greatest impact on your earnings. This includes:
- Closely monitoring your performance on measures linked to bonus dollars like the three adherence (PDC) measures and statin use in persons with diabetes (SUPD).
- Engaging with the Enhanced Services programs, such as the Longitudinal Adherence Monitoring Program (LAMP), Controlling Blood Pressure, and the Hemoglobin A1c testing program.
- Understanding the documentation requirements and deadlines for each program and/or patient opportunity to ensure you maximize your earning potential.
Delegating and Empowering Your Team
Managing high patient volumes and documentation can overwhelm pharmacy teams. EQUIPP simplifies this process by cutting through complexity and reducing paperwork. To further maximize your efficiency, empower your whole pharmacy team – from certified technicians to interns. Make sure each team member has proper EQUIPP access and understands their specific duties. This team-based approach helps you deliver better patient care without getting bogged down in administrative tasks.
Earning and Getting Paid
The ultimate goal is to earn the available revenue from your efforts. Keep a close eye on the “My Programs” and “Enhanced Services” sections of EQUIPP to track your earning potential and progress. Remember that the payments for your completed interventions and services will come from your pharmacy’s partnerships, so be sure to coordinate with your PSAO (Pharmacy Services Administration Organization) regarding payments.
Looking Ahead to 2025
As you wrap up 2024, it’s also important to start planning for the year ahead. Establish your goals for 2025, communicate them with your team, and continue to leverage the resources and support available through EQUIPP, including the knowledge base, welcome guide, and the ability to schedule training sessions.
By following the strategies outlined in this blog post, pharmacies can maximize their earnings through EQUIPP in the final months of 2024 and position themselves for even greater success in 2025. Remember to stay organized, empower your team, and take advantage of the available resources and opportunities. Time is running out! Don’t let the opportunity to strengthen your bottom line and build a healthier community expire. Together, we can ensure that your pharmacy continues to thrive and grow.