The role of the contemporary pharmacist has changed significantly in recent years, including more patient-centered care and involvement in the management of chronic conditions. The question of whether pharmacists are cost-effective in the treatment of diabetes still exists. Cost-effectiveness assessments, or CEAs, have become an essential tool for making well-informed choices on the provision of healthcare. A health risk assessment (HRA) includes a patient's current health state, historical medical history (both personal and family), and lifestyle factors that affect their health. A Cost-Effectiveness Analysis of Pharmacy-based Preventive Health Services (CEA-PBPHS) model for real-time health risk assessment was therefore developed in this work. Preventative health care is become more important to medical professionals. In addition to assessing the return on investment (ROI) for community pharmacists who provide this service for free, this study looks at the possible effects of risk assessment tools on men who are past due for a physical examination. Pharmacist involvement in diabetes care is more cost-effective or cost-saving than traditional therapy because it improves glucose control, increases patient compliance, and reduces the risk of medication-related problems. In comparison to other models already in use, the experimental results show that the proposed CEA-PBPHS model improves the health risk assessment ratio by 98.9%, the customized health service ratio by 97.5%, and the cost-effectiveness analysis ratio by 98.3%.