In the evolving healthcare landscape, Medication Therapy Management (MTM) is proving to be a game-changer. By focusing on optimizing therapeutic outcomes and preventing costly medication-related problems, MTM services play a crucial role in enhancing patient care while simultaneously reducing healthcare costs.
Let’s explore how MTM impacts healthcare expenses and why it is an essential component of modern pharmacy practice.
What is Medication Therapy Management (MTM)?
MTM is a range of services provided by pharmacists to help patients get the most benefit from their medications. This includes a comprehensive review of all medications a patient is taking, including prescription drugs, over-the-counter medications, and herbal supplements. The goal is to identify and address any issues, such as incorrect usage, medication duplication, or the need for additional medications to manage untreated conditions.
The Role of MTM in Reducing Healthcare Costs
Improving Medication Adherence
According to the World Health Organization, medication adherence can have a more direct impact on patient outcomes than the specific treatment itself. MTM services help improve adherence by providing personalized consultations and ongoing support. For example, a CDC report highlighted that 8.2% of adults aged 18-64 did not take their medications as prescribed to save money.
By addressing cost concerns and providing strategies to manage medication expenses, MTM can help ensure that patients adhere to their treatment plans, leading to better health outcomes and reduced overall healthcare costs.
Preventing Medication-related Problems
MTM services can help prevent adverse drug events (ADEs) as they involve a thorough review of all medications prescribed by various healthcare providers, including any over-the-counter or herbal supplements the patient may be taking. This comprehensive review ensures there are no potential drug interactions, duplicate medications, or unnecessary prescriptions, helping to reduce healthcare costs.
Enhancing Chronic Disease Management
For patients with chronic conditions, MTM provides ongoing support to manage their medications effectively. For example, the Iowa Medicaid Pharmaceutical Case Management (PCM) Program, an MTM initiative, has shown improved prescribing practices and a significant decrease in the use of high-risk medications. Such programs demonstrate how MTM can lead to better disease management, reducing the need for costly medical interventions.
Economic Benefits of MTM Programs
Various MTM programs across the country have documented substantial economic benefits. For instance, the Wyoming PharmAssist Program reported average yearly savings of $1,700 per patient. Similarly, the Asheville Project, which combined disease management with MTM, saw a decrease in total direct medical costs ranging from $1,622 to $3,356 per patient per year, alongside a 50% reduction in sick days. These examples underscore the financial advantages of integrating MTM into patient care.
Looking Ahead
The value of MTM in clinical, economic, and humanistic terms is evident. As healthcare continues to evolve, the integration of MTM services provided by pharmacists will become increasingly important in achieving sustainable healthcare models.
MakoRx: Your Advocate in Health
At MakoRx, we believe in the transformative power of pharmacy advocacy through medication therapy management. Pharmacy advocacy is a key offering of MakoRx Complete Care, a subscription-based health membership built for individuals and families. Have questions about a prescription? Our pharmacy team, available Monday through Friday, is always ready to help. Sign up today and start experiencing the benefits of affordable, accessible healthcare.