502.495.5040

The Magic of Compounding

Aug
16

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The Magic of Compounding…Not Creams, but Money.

 

Do you remember the trick question from middle school about the dollar that doubled in value every day? Through the apparent magic of compounding, this doubling dollar turns into over $100 Million at the end of a month.

 

Now let’s apply this same formula to a rogue “Pill Mill” physician who can see 80 patients a day. With just a 30-day script, this can potentially put 75,000 pills on the street — each and every month! The dollar cost is bad enough, but we all know many of these drugs end up in the hands of traffickers and abusers.

 

Active law enforcement and medical licensure boards are only part of the solution. But you cannot wait for others to solve this crisis. Many times the regulators and administrators are reactive rather than proactive.

 

Compound your efforts for maximum results:

  • Pre-qualify the providers in your networks;
  • Limit, when allowed, prescribers and dispensers to ones you choose;
  • Aggressive and early pharmacy reviews;
  • Peer-to-peer physician intervention;
  • A “take no prisoners” approach to contesting unwarranted medical.

 

Make your dollars work for you! Don’t compound your problems through benign neglect and inactivity.

 

Call us. We can do better.

 

 
William Faris, JD
Chief Executive Officer
502-495-5040
william.faris@omca.biz
www.omca.biz

Posted in Medical Cost Containment, OMCA