The Changing Pharmacy Landscape
The pharmacy sector is undergoing significant changes fueled by the demand for streamlined healthcare processes and innovation, influenced by factors such as the global pandemic and evolving patient needs. Technology solutions play a pivotal role in response to these challenges that have long plagued the prescription (Rx) space, from the beginning of the prescribing process at the point-of-care (POC), through cumbersome prior authorization submissions, to patient medication acquisition and medication adherence. In this blog post, we’ll explore the dynamic shifts in the Rx space, and how they lay the foundation for innovative point-of-care (POC) solutions like Vim.
Peeling Back the Layers of Pharmacy Industry Challenges
Traditional pharmacy models are no longer sufficient to meet the complex needs of today’s healthcare landscape. With an aging population, the rise of chronic diseases, and an increasing focus on preventive care, pharmacies are facing a growing demand for efficient, personalized services. The need for more accessible healthcare solutions has been further accentuated by global challenges, such as the COVID-19 pandemic. The challenges that have surfaced created a demand for tech solutions in this space:
Vim’s mission is to power affordable, high-quality health care through seamless connectivity. We entered the Rx space knowing that setting out to solve the challenges around medication costs, adherence, and accessibility would be a good fit. Our in-EHR cloud-based point-of-care connection platform, expertise, and customer relationships could allow for this problem to be addressed in an entirely new way.
Earlier this year, we asked our customers a simple question about their prescription processes. What could make it better? Then, we set out to change how Rx workflows are managed.
Introducing Vim Rx Assist
We collaborated closely with our customers powering other value-based-care workflows through Vim’s platform, laid out their current state processes, and co-designed an Rx-focused solution that would remove as many pain points and manual steps as possible.
The result is a point-of-care solution we named Vim Rx Assist. Vim’s Rx Assist in-EHR application seamlessly surfaces our customers’ patient-specific medication recommendations and insights at the point of care, saving time and reducing administrative burden. Rx Assist is an easy-to-use application that simplifies medication workflows, helping to lower the total cost of care and improve medication adherence and accessibility.
Vim Rx Assist helps eliminate the manual and out-of-workflow hassle often associated with medication adjustments and interactions between providers and pharmacy teams. Our in-EHR application helps in the following areas:
Vim Beyond Medication Management
Vim’s capabilities today, and what we can build tomorrow, extend well beyond medication management. Our platform can help customers address broader issues, such as Social Determinants of Health (SDoH), and access to care. The point-of-care solutions offered by Vim can help beyond accepting a suspect diagnosis and prescribing a medication; our technology can initiate relevant care management program referrals, highlight benefit flags, and work with customers to identify the best ways to close the care loop for their patients.
While we are focusing initially on managing Rx costs and patient regimens within our newest product offering, we are excited about the ‘art of the possible.’ As we continue developing this solution with additional features and functionality, we will work to bring together the many disparate and cumbersome parts of the overall prescription management process and empower providers with additional insights at their fingertips.
The pharmacy industry is at a crossroads, its challenges requiring a paradigm shift in how healthcare services are delivered. Point-of-care technologies are rising to the occasion, offering innovative solutions that not only address existing challenges but also pave the way for a more provider and patient-centered, efficient, and accessible healthcare future. As Pharmacy Benefit Managers, Provider Systems, Payers, Pharmacies, and Pharmacy-adjacent vendors continue to embrace these technologies, the industry’s landscape is set up for a transformative evolution.
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The traditional medical record retrieval process or patient chart retrieval process is riddled with inefficiency and burden for all stakeholders, especially for provider organizations on the receiving end of patient chart retrieval requests.
However, the medical record retrieval process is necessary to support risk adjustment accuracy and for governmental agencies that audit health plans. Specifically, to handle the administration of risk-adjusted payouts with the process of auditing health plans to ensure the accuracy of the data submitted. The most common and comprehensive risk adjustment audit done for Medicare Advantage (MA) plans, known as the Risk Adjustment Data Validation (RADV) audit is one of the most important risk adjustment audits that Vim’s customers manage.
Today’s medical record retrieval services often include a disorganized and time-consuming patchwork process of fragmented digital data exchange, provider manual review and extraction, and vendors deploying humans to assist provider organizations with manual record retrieval methods to source and extract relevant patient charts in support of the risk adjustment audit. This outdated and disruptive process leads to slow wait times and significant provider abrasion. With Vim Clinical Data Exchange, Vim partners with clinics, health plans, and health plan vendors/third-party requesters to extract data during active EHR sessions. This new approach redefines the medical record retrieval process ensuring a seamless, secure, and scalable workflow for health plans, health plan vendors, and provider organizations alike. In this blog post, we’ll journey into Vim’s medical records retrieval solutions product, exploring its benefits and transformative impact on healthcare providers and patients.
The Benefits of Medical Record Retrieval Solutions:
One of the most significant benefits of medical retrieval solutions is their ability to streamline the entire process, reducing the time and medical record retrieval effort needed by healthcare professionals to complete this process – specifically, provider organizations. Advanced medical record retrieval solutions utilize automation and digitization to retrieve electronic records instead of more manual methods such as phone calls, emails, faxes, and portals. This saves time and enables healthcare professionals to focus on other essential tasks. Additionally, third-party requestors often deploy retrieval agents to on-site provider organizations to facilitate the collection of patient charts – a process that is time-consuming, expensive, and not scalable.
Medical record retrieval solutions help to meet regulatory compliance requirements, such as those required for audits such as RADV, and other audits as previously mentioned. Automation and digitization of this process help reduce the occurrence of human error, thus ensuring compliance standards are met consistently and easily.
Efficient medical record retrieval solutions can help healthcare organizations reduce expenses and maximize revenue. By digitizing medical records and eliminating manual processes, such as sorting through paper records or faxes or providing dedicated retrieval agents, health plans and their vendors can significantly reduce administrative costs and improve operational efficiency.
These compelling benefits, coupled with Vim’s commitment to scale with our customers, led to the development of Vim’s latest product offering, Vim Clinical Data Exchange.
Vim’s Medical Records Retrieval Process and Vim Clinical Data Exchange Features
Modern medical record retrieval solutions and record retrieval companies have a rich tapestry of features designed to empower healthcare professionals and organizations when managing and accessing patient records efficiently. Vim designed our latest offering, Vim Clinical Data Exchange, to not only include must-have features, but a behind-the-scenes process that revolutionizes when and how charts are extracted so that a provider’s day-to-day workflow is left uninterrupted. These robust features simplify the retrieval process and ensure data security, compliance, and interoperability. Here are some key features that make Vim’s solution indispensable:
Why Hire Us as Your Medical Record Retrieval Service Provider?
Choosing the right service provider can make a big difference in the efficiency of your operations when it comes to clinical chart retrievals. So, why should you hire us as your medical record retrieval service provider?
First and foremost, Vim is not just a service provider. Our solution is an entirely new approach to medical record retrieval that removes manual procedures and transforms the process for everyone involved. Our client portfolio, intimate experience with provider in-EHR workflows, and our team of experts who understand the complexities of retrieving medical records ensure our solution is like none other on the market.
Secondly, our solution is a one-for-all all solution – meaning, we have the ability to partner with health plans, health plan vendors/3rd party requestors, and provider organizations to support medical record and patient chart retrieval in the most scalable, secure, and efficient way possible.
Thirdly, Vim’s over-the-air connectivity to thousands of provider organizations across 49 states in the U.S. allows our solution to open new doors and disrupt the status quo of lost charts, errors, and months and months of wasted time and waiting. And with Vim’s ability to onboard new provider organizations in minutes, we can connect our customers to those hard-to-reach organizations within their networks.
Finally, our commitment to data security and compliance is unparalleled. We understand the sensitive nature of medical records and the importance of patient confidentiality. That’s why we have implemented stringent security measures to safeguard patient data and meet all regulatory requirements, including HIPAA, HITRUST, and SOC 2 Type II. Learn more about Vim’s culture of security and compliance here.
Finally, as it is our mission to power affordable, high-quality health care through seamless connectivity our data exchange solution ensures speed and efficiency are cornerstones of our capabilities. We leverage our advanced underlying integration technology and automation capabilities to streamline retrieval, saving our customers time and effort.
When you hire Vim as your medical record retrieval service provider, you can have peace of mind knowing that you are partnering with a trusted and reliable team that grows with our customers.