The Community Pharmacy Foundation (CPF) and CPESN USA have partnered to offer a new funding opportunity for community pharmacies, Flip the Pharmacy.
The new funding program aims to usher more than 1,000 pharmacies through a two-year transformation process with the objective of reinventing the community pharmacy. The goal is to turn community pharmacies into economically viable, scalable, and sustainable care and business processes among clinically integrated networks. The program will be modeled after similar CMS innovation efforts in primary care practices across the country.
Program goals include:
- Lofty targets for non-product-based reimbursement revenue,
- Care plan submissions,
- Screenings for behavioral health conditions, and reductions in systolic blood pressure, A1c levels, and cholesterol levels in patients with associated chronic conditions
- Screenings for social determinants of health
Funding priorities include established payer relationships and lean budgeting. Consideration will be given to geographic and population density factors.
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“Pharmacy has generated an abundance of innovation over the past twenty years, but we’ve lacked the wherewithal to scale that innovation.,” says Troy Trygstad, PharmD, executive director of CPESN USA. “We now have a twenty-year runway of opportunity following the publication of the Asheville Project, but no scalable and market-based value proposition to an increasingly consolidated healthcare system that is screaming for clinical outcomes that are usually dependent on optimizing medication use.”
Qualified practice transformation teams with funding and resources will act as implementation arms for locally-based community pharmacy transformation efforts, according to a statement from the Community Pharmacy Foundation.
Applications are open until August 12, 2019.
Learn more at flipthepharmacy.com.