DUBLIN, Ohio, June 4, 2014 /PRNewswire/ -- Cardinal Health today launched a new solution to make it easier and more time-efficient for retail pharmacies to help patients better understand and adhere to their medications.
The IMS Institute for Healthcare Informatics reports that the United States could save as much as $200 billion each year – eight percent of its total healthcare spend – by improving the way patients take and manage medications.
Cardinal Health – which serves more than 8,000 independently owned pharmacies and thousands more chain pharmacies – believes that retail pharmacists are perfectly positioned to seize this opportunity to reduce costs and improve patient health, by offering medication therapy management (MTM) services to patients.
"No one is better positioned than a community pharmacist to help patients improve medication adherence, reduce medication errors and improve health outcomes related to medication use," said Brad Tice, product leader of Cardinal Health's new Medication Therapy Management Solution. "Our goal is to make it as easy and time-efficient as possible for pharmacies to deliver the MTM services that address these important patient needs."Tice said that one issue that prevents pharmacists from delivering MTM services to patients is that there are currently few opportunities for them to be reimbursed for doing so. Medicare Part D currently reimburses pharmacists for delivering MTM services, but only a very small percentage of enrollees are eligible. "Right now, retail pharmacies are caught in a bit of a Catch 22. They can only be reimbursed for delivering MTM services to a very small percentage of the population, and it can be a challenge to find enough eligible patients to make it truly viable," said Tice. "On the other hand, if they want to be included in payers' quality performance networks, retail pharmacies need to demonstrate their ability to positively impact patient care. One of the best ways to do that is to deliver MTM services to as many eligible patients as possible."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts