PUTT member and pharmacy owner speaks out on PBM abuses

[BF7]

http://www.truthrx.org/2015/07/16/pharmacy-owner-wes-chapman-with-a-p-u-t-t-update/

Pharmacists United for Truth and Transparency (P.U.T.T.) board of director and Pharmacy Owner – Wes Chapman, RPh., joins the Pharmacy Podcast Show to share updates with our listeners & industry on the fight for transparency in pharmacy benefit management and discuss the freedom our patients deserve to use any pharmacy they wish without manipulating costs or co-pays in favor of a specific pharmacy or network. - See more at: http://www.truthrx.org/2015/07/16/p...n-with-a-p-u-t-t-update/#sthash.TMdvjtNJ.dpuf

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[504poboy]

http://www.businessinsurance.com/ar...-of-its-kind-arkansas-law?tags=|62|79|307|329

Let's hope Arkansas can win this! Independent pharmacy owners will disappear if we do not get fair reimbursements.

 

[CynicalIntern]

http://www.businessinsurance.com/ar...-of-its-kind-arkansas-law?tags=|62|79|307|329

Let's hope Arkansas can win this! Independent pharmacy owners will disappear if we do not get fair reimbursements.

That's a fascinating lawsuit, but the rebate structure that chain pharmacies have is going to make it super difficult to enforce. BF7 and I talked a little bit about acquisition costs in the past, but my chain has been acquiring things like generic Augmentin 875 for 38 bucks per bottle because the manufacturer rebates us back about 37.50 of it - that sounds like the kind of thing that is absolutely going to be abused with the law as is. Not that I feel the PBMs deserve any sort of sympathy, but...

 

[504poboy]

How would it get abused? All pharmacies are getting abused right now! A lot of the PBM's say to you why don't you shop around to get a cheaper price. I ask them where should I get it cheaper. "Ughhh, I don't know"

 

[CynicalIntern]

Did you read my reply? The wholesaler invoice cost for most chains is significantly different from their "true costs" because they get significant rebates that the purchasing department procures - unless your acquisition cost for Amox/Clav 875 is actually 38 dollars? It would lead to chains negotiating out plans with the most expensive wholesaler invoice cost product to get rebates on them, so they can make a profit of 30 dollars per Rx - not a bad thing perse, but definitely "abusing" the letter of the law. I don't disagree with anything you say about them reimbursing you below cost for a lot of (most) drugs, I'm just playing devils advocate.

 

[504poboy]

http://www.chicagobusiness.com/arti...maran-for-allegedly-manipulating-prescription

Here is another one. Hopefully, some of you pharmacy students that are in the student NCPA groups are going to Washington about this!