Journal article
Financial analysis of cardiovascular wellness program provided to self-insured company from pharmaceutical care provider's perspective
Journal of the American Pharmacists Association, Vol.45(5), pp.588-592
09/01/2005
DOI: 10.1331/1544345055001346
PMID: 16295644
Abstract
Objectives: To perform a retrospective financial analysis on the implementation of a self-insured company's wellness program from the pharmaceutical care provider's perspective and conduct sensitivity analyses to estimate costs versus revenues for pharmacies without resident pharmacists, program implementation for a second employer, the second year of the program, and a range of pharmacist wages.
Design: Cost-benefit and sensitivity analyses.
Setting: Self-insured employer with headquarters in Canton, N.C.
Patients: 36 employees at facility in Clinton, Iowa.
Interventions: Pharmacist-provided cardiovascular wellness program.
Main Outcome Measures: Costs and revenues collected from pharmacy records, including pharmacy purchasing records, billing records, and pharmacists' time estimates.
Methods: All costs and revenues were calculated for the development and first year of the intervention program. Costs included initial and follow-up screening supplies, office supplies, screening/ group presentation time, service provision time, documentation/preparation time, travel expenses, claims submission time, and administrative fees. Revenues included initial screening revenues, follow-up screening revenues, group session revenues, and Heart Smart program revenues.
Results: For the development and first year of Heart Smart, net benefit to the pharmacy (revenues minus costs) amounted to $2,413. All sensitivity analyses showed a net benefit. For pharmacies without a resident pharmacist, the net benefit was $106; for Heart Smart in a second employer, the net benefit was $6,024; for the second year, the projected net benefit was $6,844; factoring in a lower pharmacist salary, the net benefit was $2,905; and for a higher pharmacist salary, the net benefit was $1,265.
Conclusion: For the development and first year of Heart Smart, the revenues of the wellness program in a self-insured company out weighed the costs.
Details
- Title: Subtitle
- Financial analysis of cardiovascular wellness program provided to self-insured company from pharmaceutical care provider's perspective
- Creators
- Justin B. Wilson - Valumed Pharm, Midwest City, OK USAMatt C. Osterhaus - University of IowaKaren B. Farris - University of IowaWilliam R. Doucette - University of IowaJay D. Currie - University of IowaTammy Bullock - University of IowaPatty Kumbera - University of Iowa
- Resource Type
- Journal article
- Publication Details
- Journal of the American Pharmacists Association, Vol.45(5), pp.588-592
- Publisher
- Amer Pharmaceutical Assoc
- DOI
- 10.1331/1544345055001346
- PMID
- 16295644
- ISSN
- 1544-3191
- eISSN
- 1544-3450
- Number of pages
- 5
- Language
- English
- Date published
- 09/01/2005
- Academic Unit
- Pharmacy Practice and Science
- Record Identifier
- 9984365905702771
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