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Are Bargaining Groups Hired by Independent Drugstores Causing Payment Delays to Pharmacies?
Date:9/6/2007

s A & B, the Federal Employees Health Benefits Plan (FEHBP), and 43 states. Last year, a survey from the Centers for Medicare & Medicaid Services (CMS) found that 18 of the top 20 Medicare prescription drug plans (PDPs) were paying pharmacy claims on a twice-a-month billing cycle of 15 days or less. Reducing the payment cycle would increase costs by creating a new set of administrative burdens for Part D sponsors without providing any corresponding benefit to America's seniors.

"Pharmacists deserve the same 30-day payment schedule that Medicare physicians and hospitals have. We certainly hope that independent pharmacies will evaluate the role of their own PSAOs to determine if reforms can be made there to speed the process along," said Merritt.

Medicare PDPs and the proven pharmacy benefit management tools they utilize are saving beneficiaries and Part D $693 billion over the 2008 to 2017 period, including $43 billion in reduced prescription drug costs in 2008 alone, according to a recent analysis from PricewaterhouseCoopers (PwC).

PCMA is the national association representing America's pharmacy benefit managers (PBMs), which administer prescription drug plans for more than 210 million Americans with health coverage provided through Fortune 500 employers, health insurance plans, labor unions, and Medicare Part D.


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SOURCE Pharmaceutical Care Management Association
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