Journal article
Retrospective financial analysis of medication therapy management services from the pharmacy's perspective
Journal of the American Pharmacists Association, Vol.50(1), pp.62-66
01/2010
DOI: 10.1331/JAPhA.2010.08154
PMID: 20097640
Abstract
To determine the net financial gain or loss for medication therapy management (MTM) services provided to patients by an independent community pharmacy during 16 months of operation.
Retrospective study.
Independent community pharmacy in Iowa City, IA, from September 1, 2006, to December 31, 2007.
Patients receiving MTM services during the specified period who had proper documentation of reimbursement for the services.
MTM services were provided to the patient and documented by the pharmacist or student pharmacist.
Net financial gains or losses for providing MTM services. Sensitivity analyses included costs that might be incurred under various conditions of operation.
103 initial and 88 follow-up MTM visits were conducted during a 16-month time period. The total cost for these services to the pharmacy was $11,191.72. Total revenue from these services was $11,195.00; therefore, the pharmacy experienced a net financial gain of $3.28. Sensitivity analyses were conducted, revealing the net gain/loss to the pharmacy if a student pharmacist was used and the net gain/loss if the pharmacist needed extra training to provide the services. Using a student pharmacist resulted in a net gain of $6,308.48, while extra training for the pharmacist resulted in a net loss of $1,602.72.
The MTM service programs showed a positive financial gain after 16 months of operation, which should encourage pharmacists to incorporate these services into their practice.
Details
- Title: Subtitle
- Retrospective financial analysis of medication therapy management services from the pharmacy's perspective
- Creators
- Randal P. McDonough - Hillcrest Clinical ResearchAaron A. Harthan - University of IowaKelly E. McLeese - University of IowaWilliam R. Doucette - University of Iowa
- Resource Type
- Journal article
- Publication Details
- Journal of the American Pharmacists Association, Vol.50(1), pp.62-66
- Publisher
- Elsevier Inc
- DOI
- 10.1331/JAPhA.2010.08154
- PMID
- 20097640
- ISSN
- 1544-3191
- eISSN
- 1544-3450
- Language
- English
- Date published
- 01/2010
- Academic Unit
- Pharmacy Practice and Science
- Record Identifier
- 9984366042602771
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