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Comparison of two Medication Therapy Management Practice Models on Return on Investment.
- Source :
-
Journal of pharmacy practice [J Pharm Pract] 2017 Jun; Vol. 30 (3), pp. 282-285. Date of Electronic Publication: 2016 Feb 16. - Publication Year :
- 2017
-
Abstract
- Objective: To compare the return on investment (ROI) of an integrated practice model versus a "hub and spoke" practice model of pharmacist provided medication therapy management (MTM).<br />Methods: A cohort retrospective analysis of MTM claims billed in 76 pharmacies in North Carolina in the 2010 hub and spoke practice model and the 2012 "integrated" practice model were analyzed to calculate the ROI.<br />Results: In 2010, 4089 patients received an MTM resulting in 8757 claims in the hub and spoke model. In 2012, 4896 patients received an MTM resulting in 13 730 claims in the integrated model. In 2010, US$165 897.26 was invested in pharmacist salary and $173 498.00 was received in reimbursement, resulting in an ROI of +US$7600.74 (+4.6%). In 2012, US$280 890.09 was invested in pharmacist salary and US$302 963 was received in reimbursement, resulting in an ROI of +US$22 072.91 or (+7.9%).<br />Conclusion: The integrated model of MTM showed an increase in number of claims submitted and in number of patients receiving MTM services, ultimately resulting in a higher ROI. While a higher ROI was evident in the integrated model, both models resulted in positive ROI (1:12-1:21), highlighting that MTM programs can be cost effective with different strategies of execution.
- Subjects :
- Cohort Studies
Community Pharmacy Services standards
Humans
Investments standards
Medication Therapy Management standards
Models, Economic
North Carolina
Pharmacists standards
Retrospective Studies
Community Pharmacy Services economics
Cost-Benefit Analysis standards
Investments economics
Medication Therapy Management economics
Pharmacists economics
Subjects
Details
- Language :
- English
- ISSN :
- 1531-1937
- Volume :
- 30
- Issue :
- 3
- Database :
- MEDLINE
- Journal :
- Journal of pharmacy practice
- Publication Type :
- Academic Journal
- Accession number :
- 26888260
- Full Text :
- https://doi.org/10.1177/0897190016628962