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Cardinal Health scales MTM model nationally

BY Michael Johnsen

DUBLIN, Ohio — Cardinal Health on Monday launched a Medication Therapy Management Solution to help payers improve both the quality of care their members receive and their performance on the Centers for Medicare and Medicaid Services Five-Star Quality Ratings System. 
 
“It’s time for new MTM models that can help payers meet regulatory requirements while also ensuring value is delivered to the patient and payer,” said Brad Tice, product leader for the Cardinal Health Medication Therapy Management Solution. “Our pharmacist-delivered MTM Solution, empowered by predictive modeling tools and back-office support, helps ensure that a health plan’s most at-risk patients receive a Comprehensive Medication Review and other personalized counseling services that help drive medication adherence and improve overall health outcomes.”
 
Medication Therapy Management services provide a framework for pharmacists to systematically reduce medication errors and improve adherence. Patients who are most likely to benefit from MTM services are those who are chronically ill, who are managing multiple health conditions and those who are taking several medications.
 
CMS’ Five-Star Quality Ratings System includes several measures specific to medication use, including one that tracks the percent of MTM-eligible Medicare Part D beneficiaries who receive a Comprehensive Mediation Review each year. 
 
Earlier this year, Cardinal Health, which serves more than 8,000 independently owned pharmacies and thousands more chain pharmacies, launched a solution to make it easier and more time efficient for retail pharmacies to deliver MTM services to patients. The retail pharmacies that have participated in that program have delivered nearly four times as many CMRs as the industry average. The company’s new MTM Solution for payers will scale that program nationally, bringing a new MTM delivery model to market.
 
The company’s MTM Solution helps payers:
 
  • Identify, target and reach at-risk members: Cardinal Health compiles member data (including medical, lab, pharmacy and social/demographic data) from numerous sources to identify medication-related gaps in care. Cardinal Health then applies a predictive modeling engine, with clinical rules and a quality measures assessment, to identify members who could benefit most from pharmacist intervention;
  • Leverage the local patient care relationship for members: Cardinal Health then works to deliver MTM services to at-risk members, either via a community pharmacy that participates in its MTM network, or via a Cardinal Health licensed pharmacist who is certified in MTM; and
  • Measure savings and improved outcomes: Cardinal Health then analyzes the results from the MTM consultations and identifies closed gaps in care. Its new solution also tracks financial savings and plan performance improvements, including pharmacy spend, medical spend and Star Ratings performance. 
 
 
 
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ASAE awards Pharmacy Society of Wisconsin 2014 Summit Award

BY Antoinette Alexander

 

 

WASHINGTON — Earlier this month in Washington, D.C., ASAE – the Center for Association Leadership (formerly known as the American Society of Association Executives), presented the Pharmacy Society of Wisconsin with the 2014 Summit Award.

The Summit Awards recognizes important contributions to society from the trade association and professional society community.  PSW received this award in recognition for its initiative to improve health outcomes for Wisconsin patients.

PSW’s initiative — the Wisconsin Pharmacy Quality Collaborative — is an evidence-based approach to ensure that consumers are prescribed and dispensed medications with regular assessment of desired outcomes. Through the WPQC, pharmacists have provided tens of thousands of healthcare services to Wisconsin consumers, more than 1,000 pharmacists in the state have been certified and nearly half of the state’s pharmacies are accredited program partners.

The WPQC program is organized to improve health care quality and reduce health care costs by improving medication use. Focusing on cost‑effectiveness improvement alone has yielded a 4:1 return. Providing patients more information about their medications and providing a system that is designed to improve the coordination of their care is a strategy with anticipated long‑term results. A goal of the WPQC program is to create a standardized care process for patients who take medications.


Several NACDS chain pharmacies are participating in the WPQC program including Walgreens, Shopko, Aurora Pharmacy, Dean Pharmacies and Hometown Pharmacies.


Coincidentally, NACDS President and CEO, Steve Anderson, was previously selected to emcee of the ASAE Summit Awards Dinner, where PSW received their award.


Upon learning that he would have the honor of bestowing the award to PSW executives, Anderson commented, “The opportunity to recognize our friends and colleagues at PSW made the evening particularly rewarding, and particularly effective in advancing the growing recognition that pharmacy is receiving for its amazing work on behalf of the American people as the face of neighborhood healthcare.”
 

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Diplomat Pharmacy begins trading on NYSE

BY Michael Johnsen

 

FLINT, Mich. — Shares of Diplomat Pharmacy, the nation's largest independent specialty pharmacy according to the company, officially began trading on Friday at a price that had reached more than $17 per share in mid-afternoon trading.

“Being a public company was just a natural progression for Diplomat and the time was absolutely right,” Phil Hagerman, CEO and chairman Diplomat Pharmacy, told Drug Store News. “We see the specialty pharmacy industry at a significant inflection point. There are really important trends – small biotech is emerging as a greater and greater player. These new limited-distribution drugs are creating both significant opportunities and significant challenges in the industry,” he said. “Equally important, the tremendous cost of these specialty drugs today is creating more than ever a cry for transparency in the model of how business is done.”

And Diplomat, which over the past seven years has grown at a 65% rate, is in the perfect position to deliver on the promise of specialty pharmacy, Hagerman said. “We’re now a perfect company to step up on this void – we’re the first pureplay specialty pharmacy in the space as a public company since Accredo Health in 2005 when they were bought by Medco. There is a tremendous appetite, we think, for specialty pharmacy as a separate channel to be able to invest in.”

With the proceeds from the IPO, Diplomat plans to look at strategic acquisitions to enhance the company’s position in the marketplace. “We made two great acquisitions in the past year. [As a public company] we have the ability to go out and strategically look at acquisitions,” he said.

Diplomat also will have the ability to grow organically. “We have a tremendous balance sheet to continue to build infrastructure if we need it, even though today we’ve got significant scale at our Great Lakes headquarters building. It just really puts us in the position as we grow also to go after larger and larger clients,” Hagerman added.

The initial public offering of 13.3 million shares of common stock started at a price to the public of $13 per share under the symbol "DPLO." In mid-afternoon trading on its first day, Diplomat’s share price was already up more than 30% to $17.

Diplomat is selling 10 million shares of common stock and certain selling shareholders of Diplomat are selling 3.3 million shares of common stock. The company and selling shareholders each have granted the underwriters a 30-day option to purchase up to an additional 1 million shares of common stock (an aggregate of 2 million shares of common stock) to cover over-allotments, if any.

 

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