PROVIDENCE – A Rhode Island medical group’s pharmacy team’s savings of millions in direct and indirect pharmacy costs in 2020 was recently highlighted in a national publication.
Pharmacists at Integra/Rhode Island Primary Care Physicians Corp. saved Blue Cross & Blue Shield of Rhode Island’s Medicare Advantage program $1 million in direct pharmacy costs in 2020, according to the American Society of Consultant Pharmacists Journal.
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The team’s work also resulted in the savings of $6.5 million in indirect costs. Integra, an accountable care organization, partners with Blue Cross’ Medicare Advantage program through RIPCPC.
Stacey Ranucci, director of pharmacy at Integra, described how a team of four pharmacists funded by Blue Cross achieved the savings while managing a group of 15,000 primary care patients who are covered by Blue Cross’ Medicare Advantage program.
Pharmacists used a blend of medication therapy management, comprehensive medication reviews and other metrics, Ranucci told the journal.
The combined efforts “result in total annual direct and indirect costs avoided by the effects of pharmacist interventions … BCBS/Integra/RIPCPC together develop outcome measures, evaluate pharmacy cost spending and negative health outcomes to create new intervention types to improve cost avoidance savings,” according to the journal.
The full article can be found here.
Elizabeth Graham is a PBN contributing writer.
