Navigation Links
PCMA: Independent Drugstore Lobby's 'Prompt Pay' Agenda Could Cost Medicare $3.3 Billion Over the Next Decade
Date:3/26/2008

Puts Funding of Other Medicare Providers at Risk

WASHINGTON, March 26 /PRNewswire-USNewswire/ --- Legislation that would make Medicare prescription drug plans (PDPs) pay drugstores twice as fast as Medicare pays other providers could cost the program and its beneficiaries at least $3.3 billion over the next decade according to a new study by PricewaterhouseCoopers (PwC) that was commissioned by the Pharmaceutical Care Management Association (PCMA).

"The increased cost of making Medicare PDPs pay retailers twice as fast as doctors and hospitals are paid will almost certainly be financed at the expense of Medicare providers and beneficiaries," said PCMA President and CEO Mark Merritt. "In a pay-go world, this would essentially be a wealth transfer from rural providers, Medicare Advantage plans, Skilled Nursing Facilities, beneficiaries, and others to independent drugstores."

Currently, Medicare PDPs pay pharmacy claims within 30 days, a standard consistent with Medicare Parts A & B, the federal employees' health plan, and the private sector. The 30-day payment standard allows plans to batch claims for administrative efficiency and conduct audits to detect fraud and abuse.

*New PwC study available at: http://www.pcmanet.org

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.


'/>"/>
SOURCE Pharmaceutical Care Management Association
Copyright©2008 PR Newswire.
All rights reserved

Page: 1

Related medicine news :

1. PCMA: CMS Releases Proposed E-Prescribing Standards in Medicare
2. PCMA: New Study on Independent Pharmacy Reimbursements Will Raise Eyebrows on Capitol Hill
3. PCMA: New CBO Analysis Confirms Independent Pharmacy Collective Bargaining Legislation Increases Costs for Consumers and Payors
4. PCMA: 2008 Health Debate Highlights Workable Solutions Like E-Prescribing
5. Are Bargaining Groups Hired by Independent Drugstores Causing Payment Delays to Pharmacies?
6. PCMA Statement on the Independent Drugstore Lobby Agenda
7. Sunrise Provides Status Report on Special Independent Committee Investigation; Provides Updates on Managements Internal Control Review Efforts and on Legal Proceedings
8. IRIDEX Appoints Burr, Pilger & Mayer New Independent Auditor
9. Nationwide independent Taser study results suggest devices are safe
10. KV Pharmaceutical Company Reports Results of Special Independent Committee Review of Stock Option Grants
11. Schwab Institutional Introduces Healthcare and Benefits Assistance for Independent Advisor Firms
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... 13, 2017 , ... The International Association of Eating Disorders ... for the field of eating disorders, announces the opening of early registration for ... Florida at the Omni Resort at ChampionsGate. , The annual iaedp™ ...
(Date:10/13/2017)... N.Y (PRWEB) , ... October 13, 2017 , ... Lori ... became a member of ElderCounsel, a national organization of elder law and special needs ... changing laws and rules. It also provides a forum to network with elder law ...
(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)... ... ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh, has released ... understood books in the Holy Scriptures, Revelation. The Book of Revelation paints a picture ... Many have tossed it off as mere rubbish, but Yisrayl Hawkins says that is ...
(Date:10/13/2017)... ... October 13, 2017 , ... “The Journey: From the ... danger possible to save lost souls in the Philippines. “The Journey: From the Mountains ... a dedicated teacher of the Bible. She has taught all ages and currently teaches ...
Breaking Medicine News(10 mins):
(Date:10/7/2017)... 2017   Provista, a proven leader in ... in purchasing power, today announced a new resource area ... Newsroom is the online home for case studies, ... bios, news releases, slideshows and events. ... of resources at their fingertips, viewers can also watch ...
(Date:10/4/2017)... Mass. , Oct. 4, 2017 ... of single-use, self-contained, illuminating medical devices, today announced ... National Health Surveillance Agency (or Agência Nacional de ... The first single-use, cordless surgical retractor with integrated ... provides optimal access, illumination and exposure of a ...
(Date:10/2/2017)... , Oct. 2, 2017 Halo Labs announces the ... analysis system called the HORIZON at MIBio 2017 in ... subvisible and visible particulate matter in biopharmaceutical samples with unprecedented speed ... of the novel technique Backgrounded Membrane Imaging. ... The HORIZON subvisible particle analysis system ...
Breaking Medicine Technology: