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Saving Lives with Better Information
U.S. healthcare spending is at an all-time high. Between 1970 and 2007, national healthcare costs increased from $75 billion to $2.2 trillion.This doesn’t even include prescription drug spending, which has skyrocketed from $40 billion to more than $230 billion in the last few decades. Despite these staggering increases, an unprecedented number of individuals are uninsured or underinsured and healthcare quality continues to be a challenge, especially when it comes to medication use.
Consider the impact of poor medication administration:
- As many as 1.5 million preventable adverse drug events occur each year in the U.S.
- Misuse of medications results in $177 billion in medical costs, annually.
- For every $1 spent on prescription drugs, over $2 is spent addressing the resulting medical problems.
- 51% of all Americans of all ages are on chronic medications.
As the Quality Leader in Medication Therapy Management (MTM) services, PharmMD strives to improve these statistics by:
- Integrating and reviewing each patient’s medical and pharmaceutical data.
- Guiding pharmacists and physicians to facilitate appropriate medication use to reduce emergency room and doctor’s office visits, and hospitalizations.
- Advising pharmacists and physicians on potential medication errors/interactions they might otherwise not see.