Since 2004, MedWise has been serving our nursing facility clients by negotiating contracts with long term care pharmacies for medication and ancillary services, as well as providing ongoing cost management. Our mission is to provide medication cost management services for nursing facilities. Our goal is to partner with the nursing facility, the pharmacy, and the physicians to implement procedures that decrease the nursing home’s medication costs. MedWise provides nursing facilities with an effective cost containment system.
MedWise Founder
Scott Russell is the founder and President of MedWise. Mr. Russell has been a Pharmacist in the long term care (LTC) pharmacy industry for over 15 years. He began his career in Arizona working for an independent pharmacy provider, where he quickly rose through the ranks and became General Manager. During this time, Mr. Russell provided oversight of all pharmacy operations, which included a LTC pharmacy, retail and hospital pharmacies, and a wholesale distribution center. His role in this position was to oversee all aspects of Pharmacy Operations including sales and contract negotiations, account management, billing, IT/systems development, and development of cost savings protocols. The independent pharmacy provider was eventually sold to PharMerica, where Mr. Russell continued for 5 additional years, growing the pharmacy business by working with Managed Care Organizations as well as national and regional LTC clients.
During his years working for both an independent and a national pharmacy provider, Mr. Russell learned the intricacies of pharmacy pricing and cost management. Through this experience, he saw the disadvantages nursing facilities faced in pharmacy negotiations, as they lacked the resources and tools to effectively review, compare and manage their pharmacy cost.
It was this realization that led Mr. Russell to found MedWise GPO Inc. in 2004, to serve as an effective cost management resource for nursing facilities. His combined experience with pharmacy operations and Managed Care Organizations allowed him to learn that the tool necessary to manage pharmacy costs is adjudication. Adjudication provides Nursing Facilities access to AWP and their long term care pharmacy’s cost structures, as well as the ability to implement drug pricing and formularies on their own terms.
Education:
Bachelors of Science in Pharmacy – University of Oklahoma Health Sciences Center, Oklahoma City, OK. Licensed Pharmacist in Arizona.
Activities:
Mr. Russell is currently in his 7th year as a Board Member and former Secretary for The New Foundation in Scottsdale, Arizona. Formed in 1970, The New Foundation is a not-for-profit organization dedicated to improving the quality of life for youth and families by providing therapeutic behavioral health and educational programs.