Navigation Links
Maine Community Pharmacy Owner Thanks Sen. Snowe for Supporting Inclusion of Common-Sense Reimbursement Provisions in Medicare Bill
Date:6/10/2008

CAMDEN, Maine, June 10 /PRNewswire-USNewswire/ -- Sen. Olympia Snowe (R-ME), member of the Senate Finance Committee, has cosponsored a Medicare bill -- S.3101 -- that includes pharmacy-related provisions to provide prompt payment of Medicare Part D prescription drug claims and delay the implementation of Medicaid reimbursement cuts for generic prescription drugs. In response, Dean Jacobs, RPh, owner of Waltz Pharmacy Inc. in Camden, ME and a member of the National Community Pharmacists Association (NCPA), issued the following statement:

"I wanted to personally thank Senator Olympia Snowe for cosponsoring S.3101, which is a health care bill that includes two provisions that ensure patients will continue to have access to community pharmacies in Maine and across America.

"The first provision ends the deliberately slow payment of Part D claims that force community pharmacies to maintain cash flow by taking out huge loans; while the second one delays the implementation of a fundamentally-flawed Medicaid reimbursement formula that forces community pharmacies to be reimbursed below actual generic prescription drug cost. Senator Snowe recognizes that community pharmacies are on the frontlines of our nation's health care system, and that these flawed pharmacy reimbursement policies were threatening to put community pharmacies out of business."

BACKGROUND:

Prompt Payment

In 2006, the first full year of Medicare Part D's implementation, five percent of America's community pharmacies permanently closed their doors. Ever since Part D's implementation on Jan. 1, 2006, community pharmacies have experienced cash-flow problems that have necessitated the need for loans in the tens to hundreds of thousands dollars. The pharmacy benefit managers (PBMs) responsible for administering the various Part D plans are paid by the government in advance, and could help remedy the problem, but rather than paying promptly, they choose to earn interest on the government's payment, and pay pharmacies late for their services.

Average Manufacturer Price

The new Medicaid reimbursement formula is based on the Average Manufacturer Price (AMP) from the 2005 Deficit Reduction Act's mandate to find $8.4 billion in Medicaid cuts, 90 percent coming from pharmacy reimbursement--although pharmacy only represents 2 percent of Medicaid spending. A Government Accountability Office Study from December of 2006 found that on average, pharmacies would get reimbursed 36 percent below cost. This objective was achieved by including several pricing categories that push down the typical acquisition costs to dispense drugs below what community pharmacies pay. The final rule was issued on July 17, 2007 and the implementation process was slated to end January 30, 2008. To stop this from taking effect, NCPA and the National Association of Chain Drug Stores (NACDS) filed a successful lawsuit that stopped the implementation from occurring in late 2007. The legal process is still ongoing.

The National Community Pharmacists Association, founded in 1898, represents the nation's community pharmacists, including the owners of more than 23,000 pharmacies. The nation's independent pharmacies, independent pharmacy franchises, and independent chains dispense nearly half of the nation's retail prescription medicines. To learn more go to http://www.ncpanet.org.


'/>"/>
SOURCE National Community Pharmacists Association
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. New Maine Economic Study: Bush Medicare Cuts Undermine State and Local Economic, Jobs Base
2. Anthem Blue Cross and Blue Shield Introduces Transparency Initiative in Maine
3. Jermaine Dupri and Island Def Jam Music Group Launch New Hip-Hop Label in Partnership with TAG Body Sprays
4. Daniel Corcoran named President of Anthem Blue Cross and Blue Shield in Maine
5. Anthem Sponsors Healthy Kids Day at Maines YMCAs
6. Toms of Maine Helps Increase Access to Dental Care
7. Toms of Maine Introduces a Patent-Pending New Formula with the Launch of its Natural Clean & Gentle Care and Sensitive Care Toothpastes
8. Farm Bill Provision Will Disrupt MaineCare Program
9. A Bright Future for Medicare Beneficiaries in Maine
10. Harm of Abstinence-Only Programs in U.S. and Abroad Subject of Panel Discussion at Two Maine College Campuses
11. Maine Natural Health Company Brings Omega-3 Benefits to Pets
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)... ... , ... Viewers who like to educate themselves on current issues and who ... and societal issues tend to appreciate and love the "Informed" series, hosted by Rob ... events for causes around the world. , Running for charity has become ...
(Date:3/24/2017)... (PRWEB) , ... March 24, 2017 , ... ... the first Certified Medical Reiki™ Master in Frederick, MD. Judy says, “I am ... caregivers during what is often a very difficult and challenging time.” , A ...
(Date:3/24/2017)... ... March 24, 2017 , ... “Vintage and Harvest A Cultivation of Christian Love” ... teacher residing in North Carolina with his wife, Anna Marie. He and his wife ... grandchildren. David is also the author of “Shadow and Substance.” , “Love, the agape ...
(Date:3/23/2017)... WA (PRWEB) , ... March 23, 2017 , ... In ... and now estimates that there could be four million Zika-related cases in the Americas ... date with numbers of US cases reported per year skyrocketing to an estimated 329,000. ...
(Date:3/23/2017)... ... March 23, 2017 , ... Demonstrating their commitment to improving ... health departments have been awarded national accreditation through the Public Health Accreditation ... expanding network of communities across the nation whose health departments meet rigorous national ...
Breaking Medicine News(10 mins):
(Date:3/24/2017)... 2017 Research and Markets has announced ... Consumer Strategies" report to their offering. ... Pain Management in ... treat their physical pain, emphasizing consumer survey analysis, including trends ... and adults who have selected illnesses/conditions strongly associated with physical ...
(Date:3/24/2017)... FinancialBuzz.com News Commentary   ... Medical cannabis products around the world are projected to ... global medical cannabis market will reach a value of USD 55.8 billion ... for the new growing industry. By the end of 2016, 28 states ... medical cannabis. More conservative states like Arkansas and ...
(Date:3/24/2017)... 24, 2017 Today Stock-Callers.com have issued ... are: Neovasc Inc. (NASDAQ: NVCN), Hologic Inc. (NASDAQ: HOLX), Edwards ... SSH ). These companies are part of the Healthcare ... Thursday, March 23 rd , 2017, with the NYSE Health ... health care companies in the S&P 500 were down about ...
Breaking Medicine Technology: