Navigation Links
Report: Independent Drugstores, Policymakers Face New Challenges
Date:8/23/2012

WASHINGTON, Aug. 23, 2012 /PRNewswire-USNewswire/ -- A new report released today by the Pharmaceutical Care Management Association (PCMA) examines how recent Congressional hearings and government investigations have raised serious questions about opaque business practices and pricing strategies within the independent drugstore industry, which now generates $93 billion in annual sales from 23,000 stores nationwide and ranks among America's most profitable small business sectors.

At independent drugstores, the owner, cashier, and book keeper are often one and the same. These factors make independent drugstores more susceptible to irregularities and make oversight more challenging. The new report highlights three basic questions policymakers are asking of independent drugstores:

  • Why are independent drugstores eight times more likely than other pharmacies to submit questionable bills to Medicare?
  • Are independent drugstores exploiting the drug shortage crisis?
  • Why are independent drugstores fighting bipartisan efforts to reduce drug diversion?

"This presents new challenges to policymakers. Though independent drugstores want new laws to reduce accountability, these findings indicate that they may require more—not less—oversight," said PCMA President and CEO Mark Merritt. "The independent drugstore lobby supports HR 1971 and HR 4215 to make pharmacy audits more difficult."

Click here to read the new report: Should Independent Drugstores Be More Accountable? Inquiries into Improper Medicare Billing, Drug Diversion, and Drug Shortage Activities Raise Serious Questions

PCMA represents the nation's pharmacy benefit managers (PBMs), which improve affordability and quality of care through the use of electronic prescribing (e-prescribing), generic alternatives, mail-service pharmacies, and other innovative tools for 216 million Americans.

Follow PCMA on Twitter


'/>"/>
SOURCE Pharmaceutical Care Management Association
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Pharma IQs Laboratory Informatics Report: Current Trends & Predictions for 2015
2. ShangPharma Independent Committee Appoints Financial Advisor
3. Independa, IDEAL LIFE to Provide Plug-and-Play Health Monitoring for Independent Elderly and Their Caregivers
4. BioDrain Medical Inc. Signs Additional Independent Distribution Agreements, Strengthening Nationwide Presence
5. Pulse Oximetry Screening Hailed as the New Milestone to Combat Critical Congenital Heart Disease - Signal Extraction Technology Leading the Way in Large, Independent Clinical Studies
6. ShangPharma Independent Committee Appoints Chairman and Legal Counsel
7. Cardinal Health Highlights Independent Pharmacy Best Practices At Retail Business Conference 2012
8. Cardinal Health Celebrates Community Pharmacists Commitment to Patient Care at Annual Trade Show for Independent Pharmacies
9. American Oriental Bioengineering Announces Change of Independent Auditors
10. Allscripts Adds Two Independent Directors to Board
11. EnerJel™ Adds 200 Independent Pharmacies To Distribution Base
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/21/2017)... 2017 Halo Labs announces the launch of ... system called the Horizon at PEGS 2017 in ... system analyzes sub visible particulate matter in biopharmaceutical samples ... as early as candidate selection and pre-formulation. ... research organization Elion Labs for system validation. ...
(Date:4/20/2017)... DUBLIN , April 20, 2017 ... the "Global Biosimilar Pipeline and Market Prospects: Addressing ... report to their offering. ... "Global Biosimilar Pipeline and Market ... by Design" provides an in-depth assessment of the current ...
(Date:4/20/2017)... 20, 2017   ZappRx, Inc ., a digital health ... process, today announced it closed $25 million in Series B ... firm based in Seattle that is ... . The Series B round included participation from SR ... and GV (formerly Google Ventures). As part of ...
Breaking Medicine Technology:
(Date:4/25/2017)... ... April 25, 2017 , ... Vetoquinol ... is introducing Flexadin UCII, part of the EQUISTRO line, at this week’s Rolex ... in horses at the immunologic level. , The scientifically-developed Flexadin UCII supports the ...
(Date:4/24/2017)... ... April 24, 2017 , ... Michael Vick announced his retirement earlier this ... The former overall number one pick in the 2001 NFL Draft, to the Atlanta ... record for the most career rushing yards by a quarterback (6,109) and the most ...
(Date:4/24/2017)... ... April 24, 2017 , ... NEPC Director Kevin Welner ... Education Research Award. The award honors scholars exemplary in their capacity to communicate ... who has demonstrated the capacity to deepen the public’s understanding and appreciation of ...
(Date:4/24/2017)... ... April 24, 2017 , ... Sean Fay is the undisputed ... Sonicare Toothbrush, Juiceman Juicer, and the George Foreman Grill (which sold more than 100 ... in the last 25 years. , Now, due to changes in the broadcast media ...
(Date:4/24/2017)... ... April 24, 2017 , ... The world-class designers ... to bring their novel lifesaving device for the everyday use of parents worldwide. ... specially designed to read a child’s vital signs, and detect unusual symptoms or ...
Breaking Medicine News(10 mins):