Wise Hospice Options was formed in 2003 to fill a void in Hospice medication management, as well as DME provision including group purchasing of medical supplies. Having worked with Hospice organizations for 12 years within pharmaceuticals and administrative operations prior to starting Wise Hospice Options, it was evident that there needed to be more options for Hospice, and a greater need to enhance systems and processes. For us, the PBM model was the most effective way to improve cost and reduce barriers to care, as well as provide excellent education in symptom management to help improve patient outcomes. We applied this business model not only for medication management but for Durable Medical Equipment (DME) as well.
We created the web based DME management system in 2003. This Medical Equipment Managing system was created to be used on any tablet or smart phone and has been fully functional with solid reliability for 15 years. It has enabled Hospice managers to utilize equipment more efficiently, reducing waste while maintaining the use of local DME providers.
Today, Wise Hospice Options is a strong and dependable provider for Hospice nationwide. We are the same entity we were when we started 15 years ago. No equity buyouts, no change of ownership, and no debt. We have built our company with deliberation and care, not looking to be the biggest or to grow faster than our ability to provide a world class level of service to each Hospice we serve. We are not beholden to any financial entity and do not have certain profitability goals. This freedom has allowed us to have never increased prices or charge extra for ancillary services. We manage the pharmacy and DME benefit with the goals of each individual Hospice as our guide.
A majority of competing companies are carving out services and charging for each ala carte, resulting in no real savings from their original price plans. The bottom line from a financial perspective is still the cost per patient day, including all services (not just the cost of medications). We have always seen our operations as a partnership with Hospice clients rather than a vendor. We work with interdisciplinary teams across the nation to find out how we can provide effective services that reduce paperwork and phone calls so more time can be spent focusing on patient care.
We also realize that our service is not for every Hospice. Through diligence and honest review of each situation, we provide effective guidance and are unwilling to enter into a contract if there is any doubt that our services will not do exactly what is agreed upon.
At present, we have created a robust system for two product lines that have been exhaustively tested and proven reliable. We have a responsibility to our clients to provide a value for our service and are committed to delivering the highest level of service through our product offerings.
Our vision for the future is to help Hospice not only survive, but thrive in this highly competitive and regulated environment. For our team our emphasis is on:
- Patient care and access to the highest quality products at the lowest overall cost (including all services- not just product cost).
- Improving interoperability with EHR systems to more effectively control and order products.
- Streamline operations so that Hospice team members can effectively provide care to patients with less phone calls, and the fewest amount of clicks.
While pricing is important, utilization of related medications and DME equipment is the driving factor in PPD cost. Keeping these goals in mind we believe we can empower Hospice to provide great patient care with reduced administrative labor, improved utilization, and deprescribing when appropriate. We will work with your team to set a realistic and effective vision for your Hospice organization.