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PharmMD will provide medication therapy management services to 265,000 HealthSpring members. Company pharmacists will use technology to watch for drug interactions and monitor drug regimens.
Medication therapy management (MTM) provider PharmMD has come to an agreement with Nashville, Tenn.-based MCO HealthSpring, to provide MTM services to the more than 265,000 of the latter company's plan members.
Tim Sawyers, director of clinical pharmacy services with HealthSpring, said the company will begin using PharmMD's system of algorithms to compare healthcare and pharmacy claims as it addresses necessary changes in medications or dosages.
PharmMD will also help the company improve any quality issues that arise from pharmacy claims.
PharmMD will provide MTM services to HealthSpring members enrolled in its Medicare prescription drug plan (PDP).
Using technology to monitor pharmacy use of participant records, PharmMD will enable licensed pharmacists at the company to watch for potential drug interactions and opportunities to optimize a patient's drug regimens.
If either is identified, PharmMD will coordinate pharmacist-to-physician or pharmacist-to-patient intervention to ensure appropriate action is taken.
"The MTM services provided by PharmMD will help HealthSpring improve health and safety for members of its prescription drug plan," said Bo Bartholomew, co-founder and CEO of PharmMD. "As a result, our MTM services will also help HealthSpring reduce the cost of providing drug benefits."
PharmMD is based in Brentwood, Tenn., and works with health plans, employers, and other payers to help ensure that beneficiaries are receiving the most appropriate medications. Founded in 2006, the company works to improve coordination and communication among physicians, pharmacists, payers, and patients by analyzing pharmacy and medical claims information and clinical decision-making.
Because PharmMD focuses exclusively on MTM, the company says that it is able to analyze both aggregate and patient-specific data, identifying trends and conflicts with a view to making a positive impact on patient health and contain costs.
"By closely monitoring the medication use of individual plan members and engaging clinical pharmacists to optimize their drug therapies, PharmMD can help improve patient health and reduce unnecessary healthcare costs," said Denise Kehoe, PharmMD vice president of business development and fellow of the American Pharmacists Association.