Why You Need a Medication Risk Management Solution

Why You Need a Medication Risk Management Solution

Posted Oct 6, 2017

As a self-insured employer or risk-bearing entity wanting to improve member and employee health, a great first step is identifying Drug Therapy Problems (DTPs). When an average of one in six people have an open drug therapy problem, a behavioral shift to initiate change is needed. This change can begin by implementing PharmMD’s Medication Risk Management (MRM) solution, which is designed to detect drug therapy problems by combining medical and pharmacy claims data into a medication-focused health management platform.

How a Medication Risk Management Solution Works

A Medication Risk Management program combines medical and pharmacy data into one powerful medication-focused health management platform. Using PharmMD’s proprietary rules engine, a risk profile is created for each patient — this helps to identify any potential issues regarding suboptimal medication usage.

In order to monitor a patient’s compliance, a Medication Risk Management solution continues to monitor pharmacy and medical claims and reveal whether positive changes have occurred or whether there’s a required need for provider or patient outreach.

Benefits of a Medication Risk Management Solution

According to a case study on the impact on medication adherence on absenteeism for chronic conditions, 40-45 percent of a company’s employees with chronic diseases experience some form of a drug therapy problem. Employees who were adherent to their medication, however, missed 1.7 – 7.1 fewer days of work than those with non-adherent employees. As a result, appropriate management of those conditions can help minimize losses due to missed work.

Closing the gap in patient care with PharmMD’s Medication Risk Management solution leads to a transparent and quantifiable ROI. By using an outcomes-driven results model, a Medication Risk Management program can help define the value of acute, near-term and chronic health problems that have been resolved. Other beneficial features of PharmMD’s Medication Risk Management program include the following:

  • Dedicated Account Management
  • Scalable, Clinical Network
  • Monthly Dashboard Reporting & Quarterly Analytic Reviews
  • Real-time Pharmaceutical and Medical Intelligence
  • Targeted and Prioritized Personal Outreach

A comprehensive Medication Risk Management solution reduces health care costs, eliminates blinds spots, and empowers individuals to take the right medication at the right time.

Where Pharm MD Can Help

As a performance-based company, we believe quantifiable results should be a measurement of our success. By offering performance-based pricing, Pharm MD’s Medication Risk Management solution takes a provider-centric approach, using the necessary insight, visibility and guidance needed to drive quick, impactful results to help resolve drug therapy problems.

About PharmMD: For Health Plans or risk-bearing entities that want to improve member and employee health measurably, PharmMD is the proven choice for pharmacy quality solutions. Founded by healthcare and pharmacy innovators, PharmMD’s outcomes-driven reporting, priority on personal touch, and scalable network are backed by performance-based pricing that guarantees fast results. Areas of expertise include: HEDIS, Part D Stars, Medication Therapy Management, Medication Risk Management.