Introduction
Pharmacy consulting can be overlooked by healthcare professionals regardless of its importance. Consultant pharmacists play a considerable role in helping patients understand and adhere to their regimens, transition of care situations, promoting compliance, and so much more.
The need for pharmacy consultants is climbing with the increase in the number of senior citizens and the major benefits that are seen through this role.
In this article, we will take a close look at a consultant’s role in the pharmacy industry. We will start by covering what pharmacy consulting is and why it’s important then move to learning about the benefits and how pharmacists can start their businesses. Read on to learn more.
What is Pharmacy Consulting
Pharmacy consulting is a specialized field where qualified pharmacists can provide advice on drug and medicine use and pharmacy services to institutions. These services are provided in a handful of settings including assisted living facilities, hospice settings, psychiatric hospitals, nursing homes, and prisons.
The rising number of senior citizens and senior health services has exponentially increased the demand for pharmacy consultant services, especially with the staffing shortages seen across the nation.1
The Role of a Consultant Pharmacist
Consultant pharmacists work with patients to provide expert advice on clinical pharmacy, academic pharmacy, public health pharmacy, industrial pharmacy, community pharmacy, etc. — regarding the sage use and production of medication or provision of pharmaceutical services. These pharmacists specifically work on reviewing and managing medication regimens for patients, especially in settings like nursing homes and long-term care facilities. They ensure these regimens are appropriate, effective, and safe for patients and that they are using them correctly. If a problem is identified, consultant pharmacists identify, resolve, and help to prevent further medication-related problems that may end up interfering with therapy.2
Consultant pharmacists' salaries can range up to $140,000 per year. To become a pharmacy consultant it is recommended that pharmacists receive their doctoral degree which takes six to eight years, followed by a two-year residency training program, and a board certification in a similar area. Common board certifications acquired by consultant pharmacists include; board-certified geriatric pharmacist (BCGP), board-certified medication therapy management specialists (BCMTMS), and board-certified pharmacotherapy specialists (BCPS). Based on the state you are practicing in, a specific accreditation course and continuous education hours may be required.3
Specialty pharmacy consulting consists of a few different areas including regulatory, quality, technical, or clinical sites. These require an extra certification from a licensing and accrediting agency like CMS, AAAHC, The Joint Commission, or individual state licensing bodies.2
The Benefits
The main benefit of pharmacy consultants is enhanced patient care. This includes increased transparency, more flexibility and expertise, and improved member experiences. Increased transparency helps allow patients to understand the cost drivers of their medications and pharmacy benefit programs by receiving detailed reports on the costs of each of their medications and the discounts they are receiving. As far as flexibility, consultants can tailor patient programs to meet the specific needs of their organizations, employees, and patients themselves. Being able to meet a patient’s needs and design their regimen around what works best for them increases adherence and treatment success. Pharmacy consultants have expertise in managing prescription drug programs and regimens and can advise on best practices for managing patients. They have access to a wide range of data and resources including drug formularies, utilization management strategies, and clinical guidelines. Overall, member experience is improved and customer satisfaction is increased.
Pharmacy consulting also has benefits beyond patient-care level practice including its cost-saving strategies and its role in the pharmaceutical industry. Pharmacy consultants can negotiate directly with drug manufacturers and pharmacies to get the best prices for prescription drugs for patients. Since they work with multiple patients at once, consultants can leverage their buying power to negotiate better prices and discounts than individual organizations.4
Starting Your Own Pharmacy Consultant Business
Many consultant pharmacists work with pharmaceutical companies without knowing they can start their independent consultant businesses. Many consultant pharmacists start small, then build a reputation and offer their clinical services like medication therapy management (MTM) and immunization clinics.
There are many steps in starting your own pharmacy consultant business but key tips from a pharmacist include getting your name well known beforehand, testing the waters with MTM to make sure you enjoy it before diving in, connect and network with other consultant pharmacists as much as you can, get your finances in order and think ahead before opening, and don’t be afraid to ask for help.
It is recommended that members of pharmacy consulting companies join the American Society of Consulting Pharmacists (ASCP). This organization gives members access to an award-winning journal called “The Senior Care Pharmacist”, monthly continuing education webinars, many exclusive discounts, biweekly newsletters, and so much more. Being a member of ASCP helps pharmacists stay up-to-date on all of the recent news and changes in their profession, making a successful consultant pharmacists.6
Conclusion
Due to the increase in demand for medical services, the need for pharmacy consultants and their role in healthcare is expanding drastically. Not only do they provide a large amount of benefit in pharmacy services but also in direct patient clinical care.
The benefits of pharmacy consulting include reviewing patients’ history to evaluate the appropriateness, safety, benefits, risks, and cost-effectiveness of their medication therapy. There is also a benefit for the pharmacy practice setting since optimizing patient regimens helps cost savings for the practice site. The need for pharmacy consultants is growing and is something all healthcare personnel should incorporate. Explore our virtual pharmacy tradeshow for helpful insights.7
1https://pharmacy-staffing.com/blog/consultant-pharmacy-consulting-pharmacy-jobs-staffing
2 https://en.wikipedia.org/wiki/Consultant_pharmacist
3 https://www.zippia.com/pharmacist-consultant-jobs/
5https://www.rxeconsult.com/healthcare-articles/5-Tips-For-Independent-Consultant-Pharmacists-878/
7https://www.rxshowcase.com/trade_show.php/catid-526/catname-Pharmacy_Consulting_(Retail)
RXinsider is a multimedia publishing and technology company offering print publications, digital platforms, events, and content creation services to the B2B pharmacy market.
Doctor of Pharmacy Candidate, Class of 2025 | Samantha Denson is a P3 pharmacy student at the University of Rhode Island. She is currently completing an internship with RXinsider to expand her knowledge of the business side of the profession. Samantha’s career interests include clinical pharmacy and the pharmaceutical industry.
