Description:

 

Company Mission:

VERITAS LTC, INC., “Veritas” (VER-i-tahs). Latin for Truth.

VERITAS is dedicated to educating, training, and providing each Skilled Nursing Facility and County Correctional Facility (all collectively the Long-Term Care Facilities “LTCF's”) with a unique, "in-house", cost-saving, pharmacy program, coupled with the assurance that they will receive consistent, accurate, pharmacy pricing validated at the point-of-dispensing, through real-time, on-line claims adjudication by an independent expert.

Company Description:

VERITAS has emerged as an independent company, located in Cincinnati, Ohio, that specializes in pharmacy cost-management and consulting for each LTCF Owner, Operator and Management Company.

Today, LTCF's have found themselves where health care plans were back in the 80’s - most have unlimited liability for most of its direct pharmacy costs because most have not been able to successfully negotiate pricing and contract terms, independently, with their pharmacy service provider, and to compound the problem, is the amount of staff time spent reviewing, auditing and processing pharmacy billing. This will ensure that prescription drug costs and management will remain a central issue for these LTCF’s well into the future.

VERITAS, however, has introduced a more efficient and professionally more cost-effective mechanism for managing the LTCF's pharmacy benefits. Initially, the role of VERITAS, is focused on identifying the LTCF's specific needs, through retrospective billing audits and contract benchmarking, but has expanded its scope of services, through PROACTIVE RX, to include the processing of pharmaceutical claims and a wide range of other "in-house" clinical and health-related services.

VERITAS administers prescription benefits on behalf of the LTCF by providing advice, recommendation, and consultations regarding available drug choices, adjudicating the prescription and processing prescription claims; effectively giving each LTCF “gate-keeper status" over the purchase of prescription drugs. As a result, each LTCF, can now exert significant influence over the cost of pharmaceuticals used by their individual residents.

VERITAS ensures that pharmacy claims are also paid according to the benefit design and within an acceptable time frame, which enables LTCF's to have more control and autonomy when managing their pharmacy benefits.

VERITAS is confident that it has emerged as a key budgetary and operational solution for the LTCF marketplace. This statutory mission will establish foundational team-building principles, as well as, fulfilling an overwhelming need by LTCF’s for an independent expert to help them sift through the overwhelming amount of information and determine what is best for them, treat their patients safely and to help lower costs.

Today, these strategies define the integrity of a drug benefit program and empower LTCF’s to be better-informed decision-makers about the need, appropriateness and cost of their drug resource use.

Contact us today to learn more about the services that VERITAS can provide to your organization and receive a FREE month's audit for one (1) designated facility.