The Growing Opportunity in Functional Medicine: A Business Case
Functional medicine presents a lucrative opportunity for pharmacies to expand their services by addressing the underlying causes of chronic conditions. This approach aims to reduce healthcare costs and improve patient outcomes through a holistic partnership between practitioners and patients.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
The Growing Opportunity in Functional Medicine: A Business Case NCPA 2018 Multiple Locations Conference Fort Myers, Florida Kathy M. Campbell, PharmD DrKathy Health, LLC
Disclosure Kathy Campbell declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings, and honoraria.
Learning Objectives 1. Discuss the scope of the functional medicine market and its composition of health care professions as potential partners for pharmacy. 2. Identify target patient populations and outline marketing strategies and themes for expansion into functional medicine. 3. Outline incorporation of an appointment-based model for functional medicine into pharmacy work flow and discuss add-on revenue opportunities.
What causes a tornado?? Temperature? Pressure? Convection? Humidity?
What causes Cancer? Diabetes? Depression? Obesity? Rheumatoid Arthritis? Multiple Sclerosis? Dementia?
Consider, hurricanes, tornadoes and many chronic health conditions occur When conditions are right.
The U.S. spends 16.2% of its GDP ($2.3 trillion) on health care. This exceeded the combined federal expenditures for national defense, homeland security, education, and welfare. By 2023, if we don t change how we confront this challenge, annual healthcare cost in the U.S. will rise to over $4 trillion, making the cost of care using the current model economically unsustainable. Ifm.org 75% of health care costs are for chronic conditions
FUNCTIONAL MEDICINE addresses the underlying causes of disease, using a systems-oriented approach and engaging both patient and practitioner in a therapeutic partnership.
Functional Medicine determines how and why illness occurs and restores health by addressing the root causes of disease for each individual.
The Functional Medicine model is an individualized, patient-centered, science-based approach that empowers patients and practitioners to work together to address the underlying causes of disease and promote optimal wellness.
It requires a detailed understanding of each patient s genetic, biochemical, and lifestyle factors and leverages that data to direct personalized treatment plans that lead to improved patient outcomes. Ifm.org
Health Coaching Genetics Nutrigenomics, Epigenetics Psychology Cognitive Behavioral Therapist, Neurofeedback, Meditation, Spiritual Patient Functional Practitioner MD,DO, NP, PA, RN Nutrition Dietician, Farmer, Health Food Store Sleep & Relaxation Massage Therapy, Acupuncture Beautician Where is Pharmacy in this new model? Movement Physical Therapist, Exercise Therapist, Personal Trainer, Yoga, Chiropractor
As a pharmacists, what unique value do we bring to the table?
Glycolysis & Krebs Cycle
Oxidative Phosphorylation via electron transport
What is foundational to optimal ATP production/mitochondrial function? FOOD-the chemistry of life (plant) Acquired, digested, absorbed, into tissue, into cell, through cytoplasm to mitochondria Larges amounts of nutrients and co-factors inside of the cell Magnesium, Coenzyme Q, B-vitamins, Iron, Copper, Oxygen, Phosphorus
What compromises optimal ATP production/mitochondrial function? Genetics Toxins that may deplete or disrupt process Bactericidal antibiotics (quinolones, aminoglycosides, and -lactams) Science Translational Medicine 03 Jul 2013:Vol. 5, Issue 192, pp. 192ra85 Cyanide Depletion of Coenzyme Q via statin use Magnesium loss via hyperinsulinemia
NUTRIENT DEFICIENCIES- CELLULAR MALNOURISHMENT Drug-induced Statins-Coenzyme Q10 Metformin-Magnesium, B12, Folate Antibiotics-Probiotics, Magnesium, B-vitamins, Vitamin K, Potassium Estrogen-B-vitamins, Vitamin D, Calcium, Magnesium, Zinc, Folate Opiates-Folate, Vitamin C, Iron, Potassium NSAIDS-Folate, Vitamin C, Iron PPI s-Beta-carotene, B12, Folate, Calcium, Zinc, Iron
NUTRIENT DEFICIENCIES- CELLULAR MALNOURISHMENT Condition Specific Pre-Diabetes (Hyperinsulinemia)-Magnesium, Potassium Depression-B-vitamins, Vitamin D, Omega 3 fats Post Weight loss surgery-Iron, Zinc, B-vitamins, Protein, Vitamin D Osteoporosis-Vitamin D, Magnesium, Boron, Strontium
NUTRIENT DEFICIENCIES- CELLULAR MALNOURISHMENT STANDARD AMERICAN DIET-SAD Cultural Shifts in Dietary Habits Low-Fat (High Sugar) Approach (Wall Street Driven vs. Biology Driven) 1980 s Minivan Loss of Food Knowledge and Basic Cooking Skills SAD GIVES US THE ILLUSION THAT WE HAVE EATEN
Health Coaching PHARMACY Psychology Cognitive Behavioral Therapist, Neurofeedback, Meditation, Spiritual PHARMACY Genetics Nutrigenomics, Epigenetics PHARMACY Nutrition Dietician, Farmer, Health Food Store, Microbiome PHARMACY Functional Practitioner MD,DO, NP, PA, RN, DC Doctor of Pharmacy Patient Sleep & Relaxation Massage Therapy, Acupuncture Beautician, PHARMACY Where is Pharmacy in this new model? Where we have always been, Where we have always been, right beside the patient. right beside the patient. Movement Physical Therapist, Exercise Therapist, Personal Trainer, Yoga, Chiropractic, PHARMACY
FUNCTIONAL MEDICINE OPPORTUNITIES We mustcreateand provide services and outcomes that are critical to patient well-being and to payers bottom line. We must document andmarketthese outcomes and services.
FUNCTIONAL MEDICINE OPPORTUNITIES NUTRIENT REPLETION Flagged during dispensing with key drug classes (statins, antibiotics, etc.) to generate a recommendation at point of sell. Pharmaceutical Grade supplements (tested and validated) Possible validation through pharmacy/patient initiated laboratory DOCUMENT THESE SIGNIFICANT CLINICAL INTERVENTIONS Markets pharmacist/PHARMACY as PARTNERS IN HEALTH and the experts in nutrients (chemistry) vs. the nice young man at the vitamin shop.
FUNCTIONAL MEDICINE OPPORTUNITIES HEALTH EDUCATION Health Seminar Creation Held in the Pharmacy when we are closed (rent) Monthly Saturday 2-5pm Moved the DME to clear space Start up Costs 20 Folding Chairs ($300), Easel ($75) Staffing needs, one employee for 3 hours (scheduled) Leveraged knowledge and expertise (Salary)
FUNCTIONAL MEDICINE OPPORTUNITIES HEALTH EDUCATION Basic Nutrition & Cooking Classes Stress Management Osteoporosis Prevention Hormone Balance Pre-conception Education Diabetes Education and Prevention Medicare Diabetes Prevention Program MDPP
APPOINTMENT-BASED CONSULTING Standard in most professions Attorney $150-$500/hr. CPA $75-$250/hr. Business Consultant $300-$500/hr. Psychologist $50-$250/hr. Personal Trainer $20-$100/hr. Health Coach $80-$100/hr. Pharmacist ?????
APPOINTMENT-BASED CONSULTING New Paradigm for Pharmacy Pharmacist $120-$240/hr. ($2-4/min.) Clinical Assessment and Therapy Recommendation Medication Therapy Management Health coaching, Chronic Care Management Navigating the medical system, coordination of care Health care economics (Med D, copay assist., etc.) Patient education, Patient empowerment Health Advocacy
APPOINTMENT-BASED CONSULTING MUST HAVE someone to manage schedule and system I think we need some time to sit down and discuss this. I am going to give you to Dena, who manages my schedule.
APPOINTMENT-BASED CONSULTING IF IT IS NOT VALUABLE ENOUGH FOR YOU TO CHARGE, IT WILL NOT BE VALUABLE ENOUGH FOR PATIENTS (OR PAYERS) TO PAY.
APPOINTMENT-BASED CONSULTING WE MUST ADDRESS THE PROFESSION- WIDE EMOTIONAL and STRUCTURAL BARRIER TO CHARGING FOR SERVICES TRADITIONALLY GIVEN AWAY.
FUNCTIONAL MEDICINE OPPORTUNITIES HEALTH COACHING Health coaching is a process that facilitates healthy, sustainable behavior change by challenging a client to develop their inner wisdom, identify their values, and transform their goals into action. Health coaching draws on the principles from positive psychology and appreciative inquiry, and the practices of motivational interviewing and goal setting. Wikipedia
FUNCTIONAL MEDICINE OPPORTUNITIES HEALTH COACHING-WEIGHT LOSS 12-week appointment-based individualized health coaching Detoxification Nutrient/Medication Evaluation and Assessment Body Composition Analysis Culture Analysis and Design Active Life Customized Eating Plan-Cardiometabolic Eating Plan
FUNCTIONAL MEDICINE OPPORTUNITIES HEALTH COACHING-WEIGHT LOSS POTENTIAL GROSS ECONOMIC IMPACT REGISTRATION-$796 Foundational supplementation $160/12 weeks Extension of program $99/month Currently 8-10 new registrations per month Marketing as a Health Destination and Health Partner???
Health ...[S]tate of complete physical, mental, and social well-being and not merely the absence of disease, or infirmity (W.H.O. 1946).
What do we want? Health for our patients Health for our families Health for ourselves Health for our communities Health for our business Health for our profession
PARTNERS IN HEALTH I never thought of coming to a pharmacy for this.
FUNCTIONAL MEDICINE OPPORTUNITIES Requires a profession-wide paradigm shift in how pharmacists perceive, value and brand our skills.
Start by doing whats necessary; then do what s possible; and suddenly you are doing the impossible. Francis of Assisi
Be so good they can't ignore you. Steve Martin
Kathy M. Campbell, PharmD DrKathy Health LLC Kathy@drkathysays.com 918-992-4FIT (348)
