1-888-673-6224 sales@intermedpharmacies.com
About InterMed LLC.
In 2004 InterMed LLC. was formed to solve common issues facing retail pharmacy owners. How can you possibly keep up with business operations, drug and retail procurement, while still providing the highest level of care to your patient?
Benefits, Payroll, and Taxes
It is often too expensive for a small pharmacy to implement and provide some of the benefits and tax savings programs that are allowed under recent Federal Guidelines. To support the pharmacies of the InterMed Team and allow them to take advantage of the benefits that are often only affordable to larger chains, InterMed has developed the following capabilities.
Payroll Services
- To provide Web-based payroll services to include direct deposit to multiple banks, financial institutions and investment companies.
- To provide Administrative duties such as employee tax statements, W-2s, W-4s and 1099's.
Flexible Spending Accounts
- Employees are able to use tax free dollars to pay for health care, deductibles, drugs, glasses, dental and child care.
- Reimbursements can be direct deposited back into employee's personal checking account.
- Employer (pharmacy) will be able to reduce FICA contributions for FSA wages.
- Intermed to provide Third Party Administrative Responsibilities for FSA accounts.
Retirements Programs
- Pharmacies will be able to utilize pre-approved safe harbor 401(k) programs, Pension Plans and Profit Sharing Plans.
- Deductions and contributions can be allocated into multiple investments via payroll system.
Insurance Programs
- As an InterMed member, you will be able to take advantage of discounted group health care, disability insurance and liability insurance.
Tax Savings Benefits
- The amount of Tax Savings for a pharmacy and each employee will vary depending on the amount of employee participation and tax rates. Examples are given under the Flexible Spending and Retirement Sections.
Procurement Services
To optimize profits, it is important to procure drugs and pharmacy supplies at the best possible price to help improve margins. To achieve this result, Intermed has made arrangements with a selective wholesaler in each specific area of pharmacy supplies. By using the combined purchasing power of the Intermed Team, significant savings can be achieved.
Since Drug procurement is the highest cost for a pharmacy and the largest opportunity for savings, it is important for the pharmacy to not only understand actual pricing, but to have a thorough understanding of its drug utilization. At InterMed, we are able to demonstrate how our negotiated low prices for prescription drugs will save the pharmacy money based on actual store utilization.