What Role Does a Management Services Organization (MSO) Play in Pharmacies?

Keeping pharmacies well organized and running efficiently is a key objective, especially with the increased demand for healthcare support in the US.

A management services organization, or MSO, is designed to help with this as an engine that provides a wide range of management and administrative functions to support the running of a safe healthcare system. So, what role could MSOs play in pharmacies – discover that below.

Forming an MSO for Your Pharmacy

The decision to form an MSO for a pharmacy is usually taken to move some of the functions of the business to a non-clinical business entity that is owned by investors who are not licensees. In most cases across the US, owning medical facilities such as pharmacies must be done through a licensed individual or group, stopping the flow of investors that could help to move a pharmacy forward. 

By choosing an MSO, you can reach new investors and streamline your services to make your pharmacy business thrive.

What Functions Can An MSO Perform for a Pharmacy?

Choosing to use an MSO for your pharmacy comes with a wide range of functions that you can use to keep everything running smoothly. Some of the most popular features include:

• Utilizing real-time tracking for medication deliveries
• Proof of delivery captures for your records
• A whole prescription delivery portal to manage your system
• Refill consent management
• Retention tools to help keep patients
• Compliance tools including 10 years of record keeping
• Cost-effective solutions that help you to optimize your services
• And a lot more

What’s really great about an MSO is that you can achieve a bespoke design that works to support your needs, keeping you in control of your business while helping you to offer the best patient experience every time.

Making the Decision to Form an MSO

If you are keen to use the MSO format for your pharmacy, you will form an MSO with ownership and governance documents, making it clear where responsibilities are held for each portion of the MSO.

You will also need to arrange a Management Agreement that documents what is covered in the MSO and who leads on each part of the organization. It’s important to remember that there are a lot of legal complexities when setting up an MSO, and it is always wise to seek legal advice when you decide to proceed.

Streamline Your Pharmacy Output With RxMile

At RxMile, we offer prescription and medication delivery software that is designed to provide you with a complete solution for your pharmacy needs. Our software includes a delivery portal, compliance support, refill consent tools, route optimization for medical deliveries and a lot more. All with the idea of bridging the healthcare gap in mind. We recognize that helping pharmacies to thrive will not only keep your business running smoothly and be part of the future of medication delivery companies but also help you to provide the quality care you are working hard to achieve. Like the sound of what we offer? Get in touch with our team to book a free trial or find out more about how we support and help start up independent pharmacies with our custom software.