MedWise connects nursing facilities and long term care pharmacies, achieving pharmacy cost savings for our nursing facility clients.  MedWise provides nursing facilities with the tools they need to manage their pharmacy costs by implementing our medication cost management service.


On behalf of our nursing facility clients, MedWise will:

  • Analyze the facility’s pharmacy spend for cost savings opportunity
  • Negotiate the facility’s contracted pharmacy services on behalf of the facility, to put in place MedWise preferred pricing.  Savings vary by facility acuity, typically resulting in cost savings of 15% to 40%.
  • Implement adjudication services, via an electronic interface between the pharmacy and MedWise to enact preferred pricing and provide formulary management.  MedWise handles all aspects of setup and implementation and provides ongoing support to meet the facility’s changing needs.
  • Provide ongoing cost management through Formulary Programs
    • Therapeutic Interchange programs that allow pharmacies to automatically convert expensive medications to less costly alternatives before dispensing to the nursing facility
    • Monthly review of medication utilization
    • Savings vary by facility acuity, typically ranging between 5% and 10%
  • Provide access to MedWise Web Based Tools that allows users to view real-time pharmacy pricing and drug information
  • Provide facility specific reporting
    • Cost savings
    • Facility utilization
    • Physician top 10 medications by cost
    • Facility top 20 medications by cost
    • Monthly utilization reports
  • Provide trending reports with cost reduction strategies
  • Provide pre-admission screening tools and protocols for QA nurses and admission coordinators, including pricing tools and formulary cost savings recommendations

Other Services:  To ensure comprehensive cost savings, MedWise also offers back up pharmacy services for after hours and emergency medication needs.  MedWise provides our clients with an extensive network of nearly 60,000 retail pharmacies to utilize for after hours and emergency medication needs.