"Millions of individuals with mental illness do not take their medications as prescribed, limiting their ability to overcome often debilitating symptoms and leading to higher healthcare costs," said Mark Peterson, RPh, Genoa's Chief Commercial Officer and a co-author of the study. "This study shows that centralizing clinical and pharmaceutical care for mental illness results in higher rates of medication adherence, which helps people live productive lives and reduces healthcare spending."
Studies have consistently shown a correlation between increased medication adherence and decreased hospitalizations. A decrease in hospitalizations means lower overall healthcare costs. National averages for medication adherence rates have been reported anywhere from 20-70%. A recent study by the RAND Corporation cited 50% adherence for antipsychotic medications. However, Genoa's average adherence rate for individuals taking antipsychotic medications is 93% (as of April 2016).
Specific study findings include:
- Genoa patients had a 96% medication adherence rate which was significantly greater than community pharmacies across all patient groups.
- Genoa patients had a 40% lower rate of behavioral health-related hospitalizations.
- Genoa patients had an 18% lower rate of behavioral health-related emergency department visits.
- Cost avoidance estimates for Genoa patients were approximately $58 per member per month based on costs for hospitalizations and emergency department visits for a total estimated savings of $230k for the 1,378 Genoa patients studied during the 13-month period.
Peterson added, "Genoa pharmacists and technicians work closely with prescribers, nurses, and case managers at behavioral health clinics to provide compassionate, personalized care for each consumer. Genoa pharmacies are just steps away from the prescribing doctor which makes it easier for people to pick up their medication. The 40% lower rate of psychiatric hospitalizations demonstrates how our integrated pharmacy model can add significant incremental total cost of care savings within CMHCs that are designed to take care of complex behavioral health patients, while improving the quality of care for these individuals. The study looked at a very small subset of the total population Genoa serves, but if these outcomes are consistent across the population of over 500,000 consumers we serve nationally, the Genoa model theoretically represents hundreds of millions of dollars of cost savings to the healthcare system."
In behavioral health, proper medication management has become a cornerstone of treatment. Genoa pharmacists develop a trusted relationship with their patients, because they understand the needs and challenges of people with mental illness and have solutions to help them manage their therapy. Genoa solutions include convenient adherence packaging that features a color-coded system developed specifically for people living with severe and persistent mental illness. This system organizes medicine by day and time and helps patients and their caregivers keep track of the medication regimen, which can significantly improve adherence.
"At Genoa, we have been measuring our own adherence rates for years and have consistently demonstrated medication adherence rates above 90%," commented Genoa's CEO, John Figueroa. "This study published in the Journal of Managed Care & Specialty Pharmacy provides further validation of our impact on consumers' lives and is important information for payors and public policy officials as they evaluate reimbursement rates for specialized pharmacy services delivered through unique models like Genoa. Our team of dedicated professionals is passionate about helping individuals with mental illness overcome barriers and reclaim their lives. Together, with our community mental health center partners, we are improving the quality of peoples' lives and saving the healthcare system millions of dollars."
Genoa, a QoL Healthcare Company has been serving the behavioral health community for over 15 years. The company provides pharmacy and telepsychiatry services to more than 500,000 individuals annually in 44 states and the District of Columbia, filling more than 10 million prescriptions per year. Genoa is the sixth largest drug chain in the United States with over 300 pharmacies located onsite in Community Mental Health Centers.
For more information, please visit www.genoa-qol.com or contact the Public Relations/Marketing Department at: (651) 583-7099 or email@example.com
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