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Welcome to LTC Pharmacy

Long-Term Care (LTC) pharmacies are pharmacies designed to serve residents of long-term care facilities. These pharmacies are also called “closed-door” pharmacies because they don’t have a front end intended to provide non-prescription products for walk-in customers.

Although LTC pharmacies are licensed as retail establishments they are typically located in industrial parks in nondescript buildings. 

LTC pharmacies operate under contractual agreements with nursing facilities and other long-term care settings to provide comprehensive pharmacy services to residents of the facility, including the supply of medications for stays under Medicare Part A, Medicare Part D and Medicaid. 

LTC pharmacy revenues are driven almost exclusively by state and federal health programs and, as such, are highly dependent on policy decisions made by elected officials and state and federal agencies.

How Big is the Industry?

LTC pharmacy is estimated to represent about 5 percent of the pharmaceutical market, or roughly $17 billion. 

How Many LTC Pharmacies Are There?

The number of LTC pharmacies is difficult to determine because these pharmacies are licensed as retail locations. CMS has a National Provider Identifier with a code for pharmacies designated as LTC pharmacies. This lists approximately 3,000 pharmacies as LTC pharmacies. 

Commercial researchers estimate the number of pharmacies to be about half of the CMS list, or about 1500 nationwide. 

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LTC Pharmacy.net

We hope to be a primary source of information to owners, managers and employees of LTC pharmacies and to those with an interest in the industry. We publish regular news that focuses on legislative and regulatory developments, industry trends and relevant news from the long-term care industry.

Are you and active marketer of your pharmacy or consulting services? Maybe we can help with that. We keep close tabs on all things marketing, including digital, direct mail and event-based marketing. We have recently launched a newsletter devoted to marketing and invite you to subscribe.

Keeping on top of government policy seems like a full-time job. who has the time to read federal regulations, track legislation and prepare for changes in payer requirements? To help, we are busy developing a comprehensive library of e-learning resources to help you stay ahead of the policy curve.

Digital Marketing

You may recall the days when marketing was all about detailed research, market analysis, pricing studies and focus groups. Well, much of that remains important.
What’s changed is the new slate of digital tools that can help you reach a highly-targeted group of potential customers in real time at very little cost.

This is the age of digital marketing, and if you’re not using these tools to your best advantage you’re probably spending too much for too little results.

In short, digital marketing refers to all the Internet-connected platforms that help you get your value proposition to as many potential customers as possible. These tools include:

    • A Website
    • Email Marketing
    • Social Medial Marketing
    • Paid Online Advertising
    • Blogs
    • Content Marketing

Each component of digital marketing can be measured,so you don’t have to wonder whether it’s working. Also, each component has its own special benefits and shortcomings.
Consider the website, the foundation of all your digital efforts. While the website is a workhorse, you can’t simply create a site, publish and let it run. You need to pay attention to details such as Search Engine Optimization (SEO) and analytics to determine whether your site is attracting the right audience for your value proposition.

Together we will dive into each component with the aim of giving you the tools to create an integrated digital marketing campaign that can work for you all day, everyday, to attract new customers.

What’s more, digital marketing is a marvelously creative discipline and, I should note, a lot of fun!

Get our free white paper on Digital Marketing for LTC Pharmacies

Digital Marketing for LTC Pharmacies (43 downloads)

Finding New Opportunities

LTC Pharmacy is Changing

Even while America is getting older, nursing home census continues to decline. This is not what we expected.

Nursing homes are expensive and generally seen by Americans as undesirable venues in which to spend our last years.

The rise of assisted living communities, Continuing Care Retirement Communities (CCRCs) and home and community-based care options are displacing nursing homes as LTC options of choice. In 2013,
Medicaid spent more on home and community-based options for LTC than it did on nursing homes.

If you see your business as providing medicines and services to nursing home residents, your market is shrinking and the competition for the shrinking supply of customers will only become more brutal.

Re-defining the Mission

If we define our mission as providing optimal drug regimens for seniors, or more expansively, caring for people with complex medication needs, our opportunities expand exponentially. This is the substance of business development.