Retrospective financial analysis of medication therapy management services from the pharmacy's perspective.

OBJECTIVE

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.

DESIGN

Retrospective study.

SETTING

Independent community pharmacy in Iowa City, IA, from September 1, 2006, to December 31, 2007.

PATIENTS

Patients receiving MTM services during the specified period who had proper documentation of reimbursement for the services.

INTERVENTION

MTM services were provided to the patient and documented by the pharmacist or student pharmacist.

MAIN OUTCOME MEASURE

Net financial gains or losses for providing MTM services. Sensitivity analyses included costs that might be incurred under various conditions of operation.

RESULTS

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.

CONCLUSION

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.