Ultimately, this transformation will benefit patients and the profession of pharmacy. Managed care pharmacists provide a vital link between physicians and patients. They are critical partners for all stakeholders. They are an invaluable resource for patients and providers, providing vital health care information and recommendations. The connection between pharmacy and health care also has important economic implications. In this article, we will discuss the economic models for pharmacy and its role in the health care system.
Transformational change is needed in the profession of pharmacy
The profession of pharmacy and health care must adopt a new approach to training and education that prepares graduates for new and evolving roles in health care. The Argus Commission’s preliminary recommendations for the 2020-21 AACP Strategic Planning Committee include the creation of a Center for Academic Innovation and Practice Transformation (CIPT), which would coordinate and advance many current and emerging activities geared toward accelerating change in pharmacy education and practice.
The Argus Commission argues that all colleges should closely monitor health care changes. The AACP can help its members keep abreast of such changes while facilitating sharing across programs. Further, colleges should adopt other programs that prepare students for advanced practice roles in health care. Various examples of such programs include co-curricular assignments, portfolios, and student organization activities that promote career advancement, and opportunities to shadow practitioners in different settings.
For example, a recent study found that pharmacists play an important role in chronic care management, where they manage a patient’s medications. This strategy has led to lower rates of emergency department visits, fewer strokes, and fewer amputations, among other positive outcomes. Hence, pharmacists can be effective and important members of the healthcare team, and they will be able to make an impact on the healthcare system.
Managed care pharmacists provide a link between prescribers and patients
Among the many responsibilities of managed care pharmacists is the assessment of clinical consensus guidelines, evaluating drug-therapy recommendations, and reviewing data from clinical trials. They can also develop treatment algorithms and formulary management tools. With an increasing number of new drugs being approved by the FDA, the pharmacist’s role is vital in the delivery of high-quality patient care. By assessing the effectiveness of a new drug, managed care pharmacists are strengthening the connection between pharmacy and health care.
In managed care, pharmacists work closely with physicians and other caregivers to develop and implement the most effective treatment options for patients. These pharmacists gather and analyze data from the patient population to determine which drugs are best for specific patients and their medical conditions. They also intervene in the care process if they see inappropriate medication or treatment methods. They are also responsible for monitoring and adjusting patient medication regimens.
The expanded integration of pharmacists with physicians will improve patient outcomes while lowering health care costs. In fact, these pharmacists will also have more opportunities to advance their careers and make a positive impact on patient health. The benefits of expanded integration between pharmacy and health care will far outweigh the risks of a decrease in the number of patients with chronic conditions. These pharmacists will be invaluable in the development of team-based care delivery models.
Funding entities and pharmacists must work together to develop an acceptable economic model for pharmacy
To achieve sustainable pharmacy services, governments, funding entities, and pharmacists must work together to identify the key steps necessary to make health care more cost-effective and accessible. Achieving these goals requires a team approach that puts the patient at the center of care and uses available resources wisely. To accomplish this, governments and professional groups must collaborate to develop policies and regulations that support team-based care and recognize the critical role of pharmacists in drug therapy management.
The pharmacy industry has changed substantially over the past two decades. Large chain pharmacies, supermarkets, and mass retailers have taken center stage, reducing competition among traditional brick-and-mortar pharmacies. Today, nearly half of all retail pharmacies are owned by a single company. These organizations generate 56 percent of the nation’s prescription revenue. In addition to traditional brick-and-mortar pharmacies, there are also mail-order pharmacies. Mail-order pharmacies account for 37 percent of the total retail pharmacy industry.
Hospital pharmacies face many challenges. These facilities must staff pharmacy technicians and part-time and temporary staff to meet the demands of the pharmacy. Additionally, they must participate in multiple task forces and committees, including those related to medication management. Remote order processing services are required after hours and may not have a robust formulary. Further, hospitals must provide pharmaceutical services via phone or remote computer access.
