Seeley's script for success
ANDOVER, Ohio – Seeley Medical is moving on. The provider launched two pharmacy ventures in the past year as part of an effort to move away from Medicare.
“So far, so good,” said President Joe Petrolla. “It’s part of our long-range plan to reduce our exposure to dealing with CMS and the HME categories that continue to be under fire.”
The two pharmacies—a specialty compounding pharmacy and a retail/institutional pharmacy—were a natural fit for Seeley Medical, which had experience with respiratory medications.
“I think in degrees of separation from the core model, two or three clicks away always work well,” he said. “There was certainly a need for this so we took what we know about ancillary medicine and expanded it into pharmacy.”
Through the specialty compounding business, the company offers private label compounding and can create compounds for anybody from a veterinarian to a fertility specialist.
Seeley Medical has eight locations servicing northeastern Ohio and western Pennsylvania. The 49-year-old company’s core business is respiratory and durable medical equipment, along with disposables like
Petrolla is quick to point out that Seeley Medical has no intention of exiting the HME business, but says, with programs like national competitive bidding and continued cuts to reimbursement, it was time for a new direction.
“If you keep doing the same thing expecting a different result in our industry, you are going to keep getting hammered,” he said. “We’ve been in business since 1962, working diligently on meeting all the regulations. You reach a point where it doesn’t make much sense.”