Omnicare Inc
(NYSE: OCR)
47.22
-0.28
-0.59%
-0.28
-0.59%
MORE ON OCR
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Omnicare Inc |
| Industry: | Medical Care |
| Employees: | 14,400 |
DESCRIPTION
| Omnicare Inc was formed in 1981. It is a healthcare services company that provides complex pharmaceutical care. It operates in two primary businesses, Long-Term Care Group and Specialty Care Group. Through LTC, Omnicare is the provider of pharmaceuticals and related pharmacy and ancillary services to long-term care facilities as well as chronic care facilities and other settings. SCG provides commercialization services for the biopharmaceutical industry in addition to end-of-life pharmaceutical care management for hospice care agencies. With respect to its clinical services, the Company provides pharmacy consulting, including monthly patient drug therapy evaluations, assist in compliance with state and federal regulations and provide proprietary clinical and health management programs. LTC also provides a suite of technology solutions based largely on its Omniview® web-based platform that is intended to improve the efficiency of its customers' operations through such tools as the electronic ordering of prescription refills, proof-of-delivery tracking, and real-time validation of Medicare Part D coverage, among others. LTC also provides a number of other products and services, including intravenous medications and nutrition products (infusion therapy products and services), respiratory therapy services, medical supplies and equipment (including billing the Medicare Part B program for eligible patients) and clinical care planning. The Company also provides pharmaceutical case management services for retirees, employees and dependents who have drug benefits under corporate-sponsored healthcare programs. SCG touches a broad spectrum of the healthcare continuum, serving the needs of biopharmaceutical manufacturers, physicians, nurses, caregivers and patients. Its services are largely centered on the specialty pharmaceutical market. These services are based on five platforms: brand support services, third party logistics, patient assistance programs, specialty pharmacy and disease management for end-of-life care. Its brand support services, third party logistics and patient assistance programs are integrated, fee-for-service platforms which focus on helping the drug manufacturer to market, to distribute and obtain reimbursement for their products. In its specialty pharmacy platform, the Commpany provides dispensing of specialized pharmaceuticals that are high cost, have complex reimbursement and supply chain challenges, have limited patient populations and are not available through normal retail channels. These specialized drugs deal primarily with specific categories of drugs and disease states, such as rheumatoid arthritis, multiple sclerosis, oncology and growth hormones. LTC's customers consist of skilled nursing facilities, assisted living facilities, independent living communities, hospitals, correctional facilities, and other healthcare service providers. The Company’s largest competitor nationally is PharMerica Corporation. It also competes with numerous local and regional institutional pharmacies, pharmacies owned by long-term care facilities and local retail pharmacies. The Company’s pharmacies and the long-term care institutions it serves are subject to extensive federal, state and local regulation. |
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