Navigation Links
PCMA: New Study on Independent Pharmacy Reimbursements Will 'Raise Eyebrows' on Capitol Hill
Date:1/11/2008

OIG Report Undermines Case for Collective Bargaining, 'Prompt Pay' Legislation

WASHINGTON, Jan. 11 /PRNewswire-USNewswire/ -- A new report released by the Office of Inspector General (OIG) on independent pharmacy payments in Medicare Part D will "raise eyebrows" on Capitol Hill and runs counter to claims from the independent drugstore lobby, the Pharmaceutical Care Management Association (PCMA) said today.

"This report will raise eyebrows among policymakers who have been led to believe that independent pharmacists were in dire straits because of the Medicare drug benefit," said PCMA President and CEO Mark Merritt. "It runs counter to rhetoric from the independent drugstore lobby on the need for costly legislation granting pharmacies special antitrust exemptions and payment cycles that are twice as fast as those received by doctors and hospitals."

Among the key findings in the report:

-- Independent pharmacies are paid an average of 18 percent more by Part D plans than their acquisition costs for medicine.

-- On average, Part D payments to rural pharmacies exceed payments to urban pharmacies.

-- Two-thirds of community pharmacies belong to group purchasing organizations that allow them to collectively bargain --- and achieve --- higher Part D reimbursement rates.

According to a separate analysis by CRA International, pharmacy antitrust exemptions would increase prescription drug costs for Medicare and commercial payors by up to 11.8 percent or $29.6 billion over five years. Legislation that would make Medicare prescription drug plans pay drugstores twice as fast as Medicare pays other providers could cost the program and its beneficiaries at least $3.1 billion over the next decade, according to a recent study 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.


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

Related medicine news :

1. PCMA: CMS Releases Proposed E-Prescribing Standards in Medicare
2. Penn study finds pro-death proteins required to regulate healthy immune function
3. New study shows promise in reducing surgical risks associated with surgical bleeding
4. Study, meta-analysis examine factors associated with death from heatstroke
5. Study suggests loss of 2 types of neurons -- not just 1 -- triggers Parkinsons symptoms
6. Study says COPD testing is not measuring up
7. Preclinical study suggests organ-transplant drug may aid in lupus fight
8. Ability to cope with stress can increase good cholesterol in older white men, study finds
9. High alcohol consumption increases stroke risk, Tulane study says
10. Mailman School of Public Health study examines link between racial discrimination and substance use
11. Pitt study finds inequality in tobacco advertising
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... October 13, 2017 , ... Talented host, actor ... on sciatica in a new episode of "Success Files," which is an award-winning ... innovation and investigates each subject in-depth with passion and integrity. , Sciatica occurs ...
(Date:10/12/2017)... WILMINGTON, Del. (PRWEB) , ... October 12, 2017 ... ... technology and advisory services for healthcare compliance program management, will showcase a range ... and National Association for Assisted Living (NCAL) Convention and Expo to be held ...
(Date:10/12/2017)... ... 2017 , ... IsoComforter, Inc. ( https://isocomforter.com ), one of the ... new design of the shoulder pad. The shoulder pad provides optimal support and ... pain while using cold therapy. By utilizing ice and water that is circulated from ...
(Date:10/12/2017)... ... October 12, 2017 , ... Dr. Parsa Mohebi, ... a medical article to the newly revamped Cosmetic Town journal section, ... hair transplant procedure known as Follicular Unit Extraction (FUE). , Dr. ...
(Date:10/12/2017)... ... October 12, 2017 , ... Women-owned and ... 2017 Best and Brightest in Wellness® by Best and Brightest. OnSite Wellness will ... Friday, Oct. 20 from 7:30 a.m. to 2 p.m. at the Henry Autograph ...
Breaking Medicine News(10 mins):
(Date:10/12/2017)... AVACEN Medical , Inc. (AVACEN) announced that ... New Product Innovation Award for Its fibromyalgia pain management ... medical device market research by Frost & Sullivan,s industry experts. ... pain relief product, the AVACEN 100, offers a safe and ... pain. ...
(Date:10/11/2017)... FRISCO, Texas , Oct. 11, 2017 /PRNewswire/ ... healthcare services, has amplified its effort during National ... patients about hereditary cancer risks. ... Journal of Clinical Oncology calculated that more than ... to have inherited mutations in BRCA1 or BRCA2 and ...
(Date:10/5/2017)... 2017  In response to the nationwide opioid ... Surgeons (AAOMS) released prescribing recommendations that urge ibuprofen ... as a first-line therapy to manage a patient,s ... Recognizing the value and importance of ... Prescribing: Acute and Postoperative Pain Management" stresses that ...
Breaking Medicine Technology: