Pay 4 Performance
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The document discusses pay for performance programs in pharmacy. It describes how providers can be financially rewarded for achieving quality goals related to measures like adherence, safety of drug therapy, and reducing errors. It provides examples of potential performance measures for pharmacies, such as medication errors reported, clinical education activities, and interventions by clinical pharmacists. The document advocates linking compensation to measurable goals and outlines five essentials for effective pay for performance programs.
Pay 4 Performance
- 1. Pay for Performance Advancing Pharmacy Practice Through Performance Measurement
- 2. Strength Beauty Endurance Poise
- 3. Teamwork
- 4. Pay for Performance Providers are rewarded financially for achieving high levels of quality and improving quality of care. Financial Incentive Program
- 5. Rewarding Current Performance Predefined Threshold Relative to Other Providers.
- 6. Rewarding Improvement Over Time Program Sets Fixed Targets for a Percentage Improvement.
- 7. Choosing the Right Measures of Performance
- 8. Pay for Performance In Pharmacy Pharmacy Report Cards Collaborative Process Introduce in Phases Adherence Feedback
- 9. Safety of Drug Therapy ~ Addresses High-Risk Drugs
- 10. Greater Attentiveness to Errors
- 11. Maximize Revenue
- 12. Reward Individuals Within the Pharmacy Who Assist to Generate the Improved Performance
- 13. Rewarded for Meeting Pre-established Targets for Delivery of Healthcare Services
- 14. P4P~Pay for Performance Measures for Quality and Efficiency Eliminating Negative Consequences of Care (Errors) Cost Reduction
- 15. Compensation Linked to Measures of Goals As of 2005, 75 % of all U.S. companies connect at least part of an employee's pay to measures of performance. In healthcare, over 100 private and federal pilot programs are underway.
- 16. The 2006 Institute of Medicine report Preventing Medication Errors recommended "incentives...so that profitability of hospitals, clinics, pharmacies, insurance companies, and manufacturers (are) aligned with patient safety goals.
- 17. American College of Physicians: "adoption of appropriate quality improvement strategies, if done right, will result in higher quality patient care leading to increased physician and patient satisfaction.
- 18. Pharmacy Services Dashboard Rx Staff Compared to Orders Filled Medication Error Reporting (A-F-I) Chemotherapy Doses Doses Billed Revenue & Total Expense Rx Service Clinical Education Activities Pediatric Type Orders Dispensed Rx Staff & Doses Dispensed Rx Indigent Drug Program Rx Service Clinical Consults % of Meds Dispensed Through Pyxis FTE Paid by Budget Line Adverse Drug Reaction Reporting Top 15 Drug Expenses Pyxis Vends & Inventory Costs (Target 16 turns) Revenue & Supply Expense
- 19. Clinical Pharmacist Interventions: 21,192 documented interventions in FY07 Top Interventions: Dose Adjustment: 7610 (35 %) Change in Drug Regimen: 3968 (18 %) Change in Frequency: 2210 (10 %) D/C Medication: 2136 (10 %) IV to PO Substitution: 1132 (5 %) Prevent Potential ADE: 870 (4 %) Non-formulary Substitution: 733 (3 %) Recommend Increased Monitoring: 708 (3 %) Recommend Cost-Effective Drug: 549 (2.5 %) Rate of Acceptance by MD = 97% Data Massachusetts Community Group 2008 n=26 Sample Performance Indicators
- 20. The Five Essentials of Pay for Performance Essential #1 – Tie Performance Awards to Goals Essential #2 – Employ the Proper Mix of Compensation Elements Essential #3 – Result in Meaningful Dollars Essential #4 – Embrace Performance That Employees Can Impact Essential #5 – Effectively Communicate & Reinforce Rewards
- 21. Dance to the Music