We have a couple of these set-ups around here. In Virginia, these arrangments are called collaborative agreements. They are gaining popularity, especially in the more rural areas of VA. A couple of our professors work in a doctors office. They have specialties, such as anticoagulation, diabetes management, etc. They have appointments with patients, order and monitor labs, and tell the doctors to change a person's dosage or drug therapy. Pretty much the only thing that the pharmacist can't do is diagnose the disease state. They can manage it, just not diagnose it.
I think I'm going on an EPPE to one of these sights this spring. Hopefully, I will learn more about how the process works then.
Hope this helps!