OBJECTIVE: Data from a randomized cohort study are used to evaluate whether pharmacist consultation (PC) interventions have a favorable impact on patient survival and hospitalization. METHODS: Since about 80% of the patients switched between the alternative treatment models of consultation after initial randomization, the estimated effect of intervention may be significantly attenuated with a traditional “Intent to Treat” analysis. Similarly, time-fixed “As Treated” analysis may also produce biased results because of the use of future information to predict immediate events. A Cox proportional hazards model was specified that included multiple time-dependent intervention variables and other covariates to better predict the effect of pharmacy interventions on the event rate. Specifically, the number of new prescriptions filled over time at each alternative pharmacist consultation intervention site was introduced as the intervention variable in order to measure the extent to which the patient was exposed to each model of pharmacist consultation at any point in time. Separate survival analyses were performed on population subgroups defined according to the level of chronic medication used during the baseline period. Sensitivity analyses were done under the assumption of informative censoring. RESULTS: The KP model pharmacist consultation which focused increased resources on high-risk patients significantly reduced the mortality rate relative to both alternative pharmaceutical care treatments (State and Control models). The KP model was also found to decrease the likelihood of a urgent/emergency hospital admission in a high-risk group of patients relative to consultation provided only upon patient request or judgement of the pharmacist. The State model which mandated consultation for all new or changed prescription was not found to be associated with a risk reduction relative to the Control model, but it decreased the likelihood of death event or a hospital admission relative to the KP model in the Low Risk subgroup. Sensitivity and subset analyses consistently supported these findings. CONCLUSION: Focusing more resource intensive consultation on high-risk patients may be a cost-effective way of providing pharmacist consultation in the outpatient pharmacy setting.