Navigation Links
PCMA: New CBO Analysis Confirms Independent Pharmacy 'Collective Bargaining' Legislation Increases Costs for Consumers and Payors

WASHINGTON, Jan. 15 /PRNewswire-USNewswire/ -- The Pharmaceutical Care Management Association (PCMA) issued the following statement in response to a new analysis released by the Congressional Budget Office (CBO) that estimates the costs associated with sweeping antitrust exemptions for independent pharmacies:

"The new CBO analysis confirms that sweeping antitrust exemptions for independent pharmacies would increase costs for Medicare Part D, Medicaid, the Federal Employees Health Benefits (FEHB) program, as well as for employers and consumers. HR 971 would give independent pharmacies a 'license to collude' to raise prescription drug prices, without adding value for consumers or payors.

"CBO found that HR 971 would increase federal costs by $727 million over ten years and that increased drug costs to private health plans, employers, and consumers would result in 'reductions in the scope or generosity of health insurance benefits, such as increased deductibles or higher copayments.' CBO's analysis also contends that cost increases resulting from the legislation would be passed along to workers, reducing 'both their taxable compensation and other fringe benefits.'

"Two-thirds of independent pharmacies already hire groups called Pharmacy Service Administrative Organizations (PSAOs) to collectively bargain on their behalf for higher payments in Part D and other programs. A recent report from the Office of Inspector General (OIG) found that community pharmacies belonging to group purchasing organizations achieve higher Part D reimbursement rates -- a fact that flies in the face of arguments favoring pharmacy antitrust exemptions."

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. Study, meta-analysis examine factors associated with death from heatstroke
4. Latest DES Analysis Stresses Importance of Physicians Well-Trained in Implantation Technique and Patient Follow-Up
5. Consumer Reports Analysis: Drugs for Nerve Pain, Fibromyalgia Effective, But Not Always Best
6. Takeda statement on ACTOS meta-analysis published in the Journal of the American Medical Association
7. Takeda Statement on ACTOS(R) (Pioglitazone HCl) Meta-Analysis Published in the Journal of the American Medical Association
8. Physical Therapist Provides Injury Analysis for Fantasy Football
9. Sanofi-Aventis renews licenses for Genomatix chip analysis pipeline
10. Meta-Analysis of Blood Phe Levels and Clinical Outcomes in PKU Published
11. OCS and Press Ganey Partner to Create Joint Analysis of Outcomes and Satisfaction
Post Your Comments:
(Date:11/27/2015)... (PRWEB) , ... November 28, 2015 , ... There is ... we outperform our billings from last year? , This question has not been an ... are coming to the retirement age and the younger workforce don’t share the same ...
(Date:11/27/2015)... ... November 27, 2015 , ... According to an ... the University of Toronto and the University of British Columbia suggested that laws requiring ... injuries. The article explains that part of the reason for the controversial conclusion is ...
(Date:11/27/2015)... ... November 27, 2015 , ... ... care in America. As people age, more care is needed, especially with Alzheimer’s, ... and medical professionals are being overworked. The forgotten part of this equation: 80 ...
(Date:11/27/2015)... PITTSBURGH, PA (PRWEB) , ... November 27, 2015 ... ... to be a safe and convenient way to dispense prescription medications at home, ... safe and effective way to monitor and dispense prescription medications. In doing so, ...
(Date:11/27/2015)... ... November 27, 2015 , ... Lizzie’s Lice Pickers just announced a special ... 10% off of their purchase of lice treatment product. In addition, customers will receive ... a company spokesperson. “Finding lice is a sure way to ruin the holidays, so ...
Breaking Medicine News(10 mins):
(Date:11/25/2015)... AAIPharma Services Corp./Cambridge Major Laboratories, Inc. ... $15.8  Million to expand its laboratories and global ... The expansion will provide additional office space and ... of the pharmaceutical and biotechnology markets. ... up to 40,000 square feet of expanded development ...
(Date:11/25/2015)... -- ARKRAY USA , Inc., a leader ... the accuracy of its blood glucose meter systems. Last ... and Cardiovascular Disease in Los Angeles ... 01 meter and the Assure ® Prism ... accurately measure glucose levels in blood is essential for ...
(Date:11/25/2015)... Kitov Pharma ceuticals ... biopharmaceutical company focused on the development of therapeutic candidates ... announced the closing of its previously announced underwritten public ... each representing 20 ordinary shares of the Company, and ... and warrants were issued in a fixed combination of ...
Breaking Medicine Technology: