May 26, 2017
SenioRx Radio, part of the Pharmacy Podcast Network, in collaboration with the ASCP returns with a dynamic interview about Value Based Care in LTC Pharmacy.
Chad Worz, host of SenioRx Radio interviews Harry Thibodeau, PhC, R.Ph., CCP, FASCP Chief Operations Officer with Pharma-Care, Inc.
Medication related problems and medication mismanagement are a huge health problem with serious cost implications. In this age of austerity, employers are working hard to ensure that they provide employees and their families continued access to high quality health care while saving money.
To this end, the Asheville Project has proven to reduce avoidable treatment and hospitalizations that will generate substantial cost savings; up to four times greater than the cost of the program. Starting in Asheville, North Carolina, a Value Based Insurance Design, Medication Therapy Management (MTM) has had a long track record of achieving positive health outcomes for health plan enrollees with chronic conditions as evidenced by the twenty studies which found pharmacists improved economic and clinical outcomes through direct patient care.
1 Because of this impressive history, Value Based Care (MTM) programs are included in the Medicare Part D Prescription Drug benefit. Over the past several years, Pharma-Care, Inc. has successfully implemented Value Based Care (MTM) services for many independent pharmacies and several municipalities, which, to date have yielded a 7.30:1 return on investment. They also contracted with the New Jersey Counties Division of Aging & Community Services, a division of the Department of Human Services (DHS), to provide Value Based Care (MTM) services to seniors living in their respective communities.
The Pharma-Care, Inc. Value Based Care Design program focuses on people with chronic health conditions to accomplish the following goals:
▪ Improve therapeutic outcome for targeted beneficiaries through improved medication use
▪ Reduce the risk of adverse health events through decreasing number of errors in prescribing and in taking medications
▪ Reduce the number of per patient medication claims and medical, hospital and emergency department costs The program has documented the following consistent effects among participants:
▪ Improved knowledge of their disease ▪ Increased medication adherence ▪ Improved self-management behaviors
▪ Improved clinical outcomes Pharma-Care, Inc. presents “Best in Class” solutions by employing a studied proven model, deeply engaging participants, providing individualized and goal driven guidance, providing proof of performance, and easy implementation and integration into current health plans.
1 American Journal of Health System Pharmacy, October 2010