The new year will be a time of testing for drug stores, as a confluence of forces call into question their function in the marketplace and long-term viability. At the same time that the economics of health care continue to weigh heavily on pharmacy margins, drug store operators must learn how to compete more effectively
The nation’s independent pharmacies are under severe stress and, unless the economic conditions in which they operate change dramatically, many of them could begin to disappear from the scene. That sobering conclusion stems from a new report by the National Community Pharmacists Association, which not only sounds the alarm about the uncertain prospects for that
ARLINGTON, Va. — On a strong bipartisan basis, the chairman, ranking member, and an overwhelming majority of the Senate Finance Committee have asked the Trump Administration to do its part to close a Medicare regulation loophole – known as pharmacy direct and indirect remuneration (DIR) fees – that inflates patients’ out-of-pocket drug costs and that
Titration. In chemistry, it’s adding a reactant to a solution until a chemical reaction is achieved. The titration process might take numerous drops of reactant before its concentration is high enough to observe a noticeable change. That chemical reaction is an apropos analogy for the current misaligned pharmacy payment model and its pathway to change.
ALEXANDRIA, Va. — In print ads Tuesday in the Washington Post and the Wall Street Journal, the National Community Pharmacists Association is urging policymakers to rein in pharmacy benefit managers to help lower drug costs. These ads complement NCPA’s ongoing efforts in its years-long campaign to reform pharmacy direct and indirect remuneration (DIR) fees, a
ARLINGTON, Va. – Pharmacy “DIR fees” that have exploded by 45,000 percent from 2010 to 2017 are inflating seniors’ out-of-pocket costs for prescription drugs and forcing pharmacies out of business. These pharmacy “direct and indirect remuneration” (DIR) fees must be addressed in drug-pricing legislation. That message about DIR fees is the subject of a new cable, broadcast and
WASHINGTON — Nearly a quarter of the House of Representatives – 105 members – has sent a letter to President Donald Trump noting the “missed opportunity” to reduce seniors’ out-of-pocket costs for prescription drugs. This missed opportunity occurred when pharmacy direct and indirect remuneration (DIR) fee reform was excluded from a recent Medicare rule. The legislators,
ARLINGTON, Va. – In a statement to the Senate Finance Committee Thursday, the National Association of Chain Drug Stores stressed the importance of finalizing Health and Human Services (HHS) secretary Alex Azar’s proposals to reform pharmacy direct and indirect remuneration (DIR) fees, and of developing a standardized pharmacy quality incentive program. “The FY2020 HHS Budget
The National Association of Chain Drug Stores was at the top of its game during the Regional Chain Conference in Palm Beach, Fla., earlier this month. Often overshadowed by the association’s larger events, this hidden gem provides attendees with an initial look at the objectives that NACDS and its members will pursue during the course
DIR (direct and indirect remuneration) fees are increasing — creating greater and greater financial challenges for retail pharmacies. In the second quarter of 2018, DIR accounted for 1.13% of sales and, year-to-date, it is trending at 1% of sales. For the same period last year, DIR was running at 0.9% of sales. On top of
ARLINGTON, Va. – The National Association of Chain Drug Stores (NACDS) has submitted comments to Health and Human Services Secretary Alex Azar in response to the agency’s request-for-information on drug-pricing public policy issues. “We believe there are numerous opportunities to achieve the goals of lowering the financial burdens on patients and making prescription drugs more
ARLINGTON, Va. — The “untenable” procedures around direct and indirect remuneration fees (DIR fees) can be righted with measures reducing costs for beneficiaries and the government, while promoting a more quality-driven health care system, says the National Association of Chain Drug Stores. NACDS expressed that message in comments to the Centers for Medicare & Medicaid
Suffice it to say, community pharmacies are getting squeezed by retroactive DIR fees. That’s what the results of a survey from the National Community Pharmacists Association said. NCPA reported Friday that, because of retroactive direct and indirect remuneration fees, 84% of independent pharmacy owners polled said they don’t know what their final reimbursement will be at
FORT LAUDERDALE, Fla. — Pharmacy retailers and suppliers have a world of possibilities in front of them amid an evolving retail health care landscape, industry executives said at the 2018 NACDS Regional Chain Conference. The conference gathered regional drug and supermarket chains (four to 250 locations) with supplier partners that help meet their customers’ health and wellness