Medication management specialist Careteq (ASX: CTQ) has entered a strategic partnership with MedicAlert Foundation Australia designed to improve medication safety for Australians living with complex health conditions.
More specifically, the collaboration seeks to address the critical healthcare challenge of medication-related harm within our nation.
Broadened services
Under the partnership, members and customers of both organisations will now have improved access to critical healthcare services.
MedicAlert members are expected to benefit from Careteq’s medication management services, especially via referrals from its Home Medication Reviews (HMRs) division.
Meanwhile, Careteq’s clients will gain access to MedicAlert’s life-saving medical identification products and around-the-clock emergency response hotline.
Gap in the market
Management noted that recent data from the Australian Commission on Safety and Quality in Health Care points to a concerning gap in medication review services, particularly amongst the elderly.
Here, only 5.4 per cent of Australians aged 75 years or more received either a Home Medication Review (HMR) or a Residential Medication Management Review (RMMR) in the past twelve months. This represents a significant shortfall with more than 500,000 at-risk individuals not receiving the medication reviews they need.
Management added that Australians living in the community are less likely to receive a medication review compared to those living in aged care homes.
In turn, the partnership between Careteq and MadicAlert will address such discrepancies by delivering timely solutions for medication safety through a broadened service offering. The collaboration will also cross-promote the services of both organisations and help train and educate healthcare professionals.
Careteq executive chairman, Mark Simari, commented:
“Our partnership with MedicAlert aligns perfectly with our goal of preventing medication-related harm. By raising awareness of the benefits of HMRs, we hope to enhance health outcomes for all Australians.”
Two respected organisations
Careteq is regarded as a trusted provider of medication management services in residential aged care and the broader Australian community. It operates under two distinct brands: Embedded Health Solutions (EHS) and HMR Referrals.
The group’s EHS division offers medication management and home care solutions. It provides professional advice for healthcare workers to help prevent medicine-related harm.
Its HMR Referrals unit matches general practitioners with accredited pharmacists to deliver continuity of care and improved clinical outcomes by conducting home medication reviews.
According to the company, about 50 per cent of older Australians use five or more medications, leading to an 88 per cent likelihood of adverse drug reactions.
It believes that HMRs conducted by pharmacists can cut medication-related problems and improve adherence in patients, whilst potentially reducing hospitalisation rates for older people living in the community.
MedicAlert Australia is a renowned not-for-profit organisation with more than five decades of experience in providing emergency medical information services, custom-engraved medical ID jewellery, and a comprehensive support hotline.
It recently bolstered its services by launching the MedicAlert QR ID which grants first responders with instant access to crucial patient information.