GTMRx Institute Unveils Tools and Strategies to Help Employers Navigate Health Plans and Adopt Comprehensive Medication Management Practices
TYSONS CORNER, Va., April 28, 2021 /PRNewswire/ -- Today, The Get the Medications Right™ (GTMRx) Institute, a catalyst for change that brings critical stakeholders together who are bound by the urgent need to get the medications right, is unveiling the GTMRx Employer Toolkit. This suite of resources is designed to equip employers with the knowledge to manage their pharmacy and medical benefit programs effectively. Evidence points to the value of comprehensive medication management (CMM) services as part of a "buy right" strategy to decrease waste and enhance quality; in fact, studies show a reduction in annual total health care costs of $1,000 per participating member on average for those who engage CMM.
"Employers manage health benefits for nearly half the country and we need to ensure they have access to the right tools to create plan designs that get the medications right, particularly for those with multiple chronic conditions, seeing multiple physicians and taking multiple medications," said Katherine H. Capps, co-founder and executive director of The GTMRx Institute. "The GTMRx Employer Toolkit is a first-of-its kind resource designed to offer a step-by-step approach to help employers work with their vendors to develop programs that manage medication misuse, overuse and underuse and avoid unnecessary waste."
Core to The GTMRx Institute's approach is comprehensive medication management, a push toward a more integrated approach to managing medication therapy problems. CMM is personalized, patient-centered and involves the physician working in collaborative practice with a clinical pharmacist and other team members to ensure appropriate use of medications. "Studies have shown that employers who engage CMM benefits not only decrease employee absenteeism, but also reduce emergency room visits and improve employee health; this is especially important for those with chronic conditions such as diabetes and cardiovascular disease," said Cheryl Larson, president and CEO of Midwest Business Group on Health and GTMRx Employer Toolkit Taskforce member. "CMM makes sense when so much we are doing today is not working. The evidence shows that this is a vital pathway forward."
The GTMRx Employer Toolkit & Resource Center offers guidance for employers on how to engage medical carriers, PBMs and other vendors and urges them to use their contract authority to prioritize CMM as a value-driving service. Leveraging deep insights from the GTMRx Employer Toolkit Taskforce, including leaders from the nation's leading top health care business coalitions, the GTMRx Institute is outlining three steps for employers to take to move toward better health plans:
"Innovative health plans should be paying for comprehensive medication management services that leverage a clinical pharmacist working in collaborative practice with physicians if they are serious about managing costs, increasing quality and ensuring appropriate care," said Paul Grundy, MD, President of GTMRx. "We want to help employers realize their power in designing health plans that put medication optimization front and center."
For more information on GTMRx and how they are moving the needle, visit http://www.gtmr.org.
About the Get the Medications Right™ Institute
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SOURCE GTMRx Institute