What Is Buy-And-Bill and How Can It Help My Rheumatology Practice?
As a rheumatology specialist, you always look for ways to improve patient outcomes while optimizing your practice’s efficiency and profitability.
The buy-and-bill approach is one of the most effective models for managing biologic treatments. This process allows you to take control of medication procurement, administration, and reimbursement, leading to streamlined operations and enhanced patient care.
At Altus Biologics, we specialize in helping rheumatology practices like yours maximize buy-and-bill benefits while minimizing operational challenges. Let’s explore how, with our help, this model can benefit your practice.
Why Buy-And-Bill is the Future of Rheumatology Practice Management
The buy-and-bill model is a reimbursement method used for office-administered biologics. Under this approach, your practice purchases the medication directly from a wholesaler, administers it to the patient in-office, and then submits a claim for reimbursement from the patient’s insurance provider.
Unlike a traditional specialty pharmacy model, buy-and-bill gives you greater control over inventory, costs, and scheduling.
Benefits of Buy-And-Bill for Your Rheumatology Practice
Improved Patient Care and Adherence: With buy-and-bill, you can ensure your patients receive their biologic treatments on time without delays from third-party specialty pharmacies.
This guarantees treatment continuity, improves adherence, and helps achieve better clinical outcomes.
Greater Financial Control: By purchasing biologics directly, you can leverage negotiated pricing, access volume discounts, and manage reimbursement more effectively.
This model also eliminates the need to coordinate medication shipments, reducing disruptions in treatment.
Revenue Optimization: Properly managed buy-and-bill programs generate additional revenue for your practice through appropriate reimbursement rates for the medication and its administration.
When implemented correctly and managed by experts, this approach can enhance financial stability while maintaining high standards of patient care.
Streamlined Inventory Management: Directly controlling your medication inventory allows you to minimize waste, track usage patterns, and ensure you have the necessary biologics available when your patients need them.
How Altus Biologics Supports Your Buy-And-Bill Program
Implementing buy-and-bill effectively requires procurement, reimbursement, compliance, and patient management expertise.
That’s where we come in. Altus Biologics offers comprehensive support to help you navigate buy-and-bill complexities while maximizing efficiency and profitability.
Seamless Implementation & Workflow Integration: We work with your practice to set up a structured buy-and-bill program that aligns with your existing operations and regulatory requirements.
Financial Management & Reimbursement Expertise: Our team ensures you receive accurate and timely reimbursement by managing claims processing, insurance negotiations, and prior authorizations.
Inventory Optimization & Waste Reduction: We help you maintain optimal inventory levels, reducing spoilage and lost revenue due to expired medications.
Patient Support & Engagement: Our patient-focused approach enhances treatment adherence by streamlining access to biologic therapies and ensuring continuity of care.
Elevate Your Rheumatology Practice with Altus Biologics
The buy-and-bill model presents a significant opportunity for your practice to enhance patient care, increase efficiency, and improve financial outcomes. However, successfully managing this approach requires specialized expertise.
At Altus Biologics, we are committed to helping you unlock the full potential of buy-and-bill for your rheumatology practice. Let us take care of the complexities so you can focus on what matters most: providing exceptional patient care.
Contact us today to learn more about how we can support your practice and help you maximize buy-and-bill benefits.
