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Contracting by managed care systems for pharmaceutical products and services
1College of Pharmacy, Idaho State University, Pocatello.
Topics in Hospital Pharmacy Management
|October 6, 1990
Summary
Managed care organizations are exploring cost-saving strategies. Pharmacists must carefully analyze the costs of providing prescription services before contracting with managed care organizations to ensure financial viability.
Area of Science:
- Health Services Research
- Pharmacy Administration
Background:
- Rising healthcare costs are a major concern in the health care delivery system.
- Managed care organizations (MCOs) are actively seeking effective cost control mechanisms.
- There is a continuous search for alternative methods to reduce the cost of medical care delivery.
Purpose of the Study:
- To emphasize the critical need for pharmacists to meticulously evaluate the costs associated with providing pharmaceutical services to MCOs.
- To guide pharmacists in making informed decisions regarding service provision within contractual constraints.
Main Methods:
- Analysis of the financial implications of contractual obligations between pharmacists and MCOs.
- Detailed cost-benefit assessment of offering pharmaceutical services.
Main Results:
- Pharmacists face significant financial constraints imposed by MCO contracts.
- Thorough cost analysis is essential prior to committing to pharmaceutical service provision.
Conclusions:
- Pharmacists must conduct a comprehensive financial analysis before deciding to offer services to MCOs.
- Strategic decision-making based on detailed cost evaluation is crucial for pharmacists operating within managed care environments.