Financial Analysis of New Specialty Services Provided by Community Pharmacy Pharmacists

Abstract

Korea is experiencing rapid population aging, and as the elderly population grows, there is an increasing need for comprehensive healthcare services. However, in local areas, the shortage of medical institutions and healthcare workforces makes it difficult to adequately provide medical and caregiving services. Therefore, it is necessary for pharmacists to be involved in caring for the elderly in the community, such as patient medication management. Based on previous research and international case studies, this study selected seven specialized services that local pharmacies can offer. Information on the expected time commitment for each service was obtained through a survey of pharmacists. Based on these results, the expected resource-based relative value scale and fee were estimated, and the expected total cost for each service was calculated by multiplying the expected fee by the estimated number of cases. Our financial estimation finds that, if all seven services are introduced simultaneously, the total costs required amount to anywhere between KRW 26.3 billion and KRW 68.5 billion. The proportion of total medical insurance costs in 2020 ranged from 0.15% to 0.39% and the proportion of total service fee costs ranged from 0.66% to 1.72%. The service expected to have the lowest cost among the seven services was medication safety education, while the service anticipated to have the highest cost was medication adherence monitoring counseling.