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:10/13/2017)... ... , ... Lori R. Somekh, founder of the Law Office of Somekh ... law and special needs planning attorneys. “Membership in ElderCounsel helps our office remain up ... network with elder law attorneys nationwide,” said Somekh. , ElderCounsel was ...
(Date:10/13/2017)... ... October 13, 2017 , ... The Visiting Nurse Association (VNA) ... a collection of specialty vendors and unique items from across the nation, this holiday-themed ... and wellness services offered by the VNA. The boutique will be open Saturday, ...
(Date:10/13/2017)... Abilene, Texas (PRWEB) , ... October 13, 2017 , ... ... publication this week that explains one of the most popular and least understood books ... seems like cryptic and puzzling descriptions that have baffled scholars for centuries. Many have ...
(Date:10/13/2017)... ... ... Journey: From the Mountains to the Mission Field”: the story of a missionary couple ... From the Mountains to the Mission Field” is the creation of published author, Carole ... and currently teaches a class of ladies at her church, which she has taught ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... treating sleep apnea using cutting-edge Oventus O2Vent technology. As many as ... disorder characterized by frequent cessation in breathing. Oral appliances can offer significant relief ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... Halo Labs announces the European launch of their new ... at MIBio 2017 in Cambridge, U.K on ... in biopharmaceutical samples with unprecedented speed and sensitivity while using far ... Membrane Imaging. ... particle analysis system ...
(Date:9/28/2017)... , Sept. 28, 2017 Hill-Rom Holdings, ... 2017 earnings conference call and webcast on Friday, November ... a.m. (EDT) and ending at approximately 8:30 a.m. (CDT) ... discussing the company,s 2017 financial performance and guidance for ... opportunities, initiatives to enhance operational performance, and long-range financial ...
(Date:9/27/2017)... 2017  Commended for their devotion to personalized service, SMP ... number one in the South Florida Business Journal,s 50 Fastest-Growing ... yearly list, the national specialty pharmacy has found its niche.  ... will soon be honored by SFBJ as the 2017 Power ... Set to receive his award in October, Bardisa said of ...
Breaking Medicine Technology: