Small pharmacies seeking lawmakers to enforce fair compensation
By Stephanie Golden
Independent pharmacy owners from across New York gathered at the state capitol on Tuesday. They are calling on lawmakers to eliminate the pharmacy benefit manager, which acts as the middleman between insurers and pharmacies.
Many small pharmacy owners like Chris Casey, the owner of Mead Square Pharmacy, these PBMs don’t reimburse for prescription drugs fairly. “Buying something for 100 dollars and being reimbursed at 70 dollars that is a loss. Profit is the only way I keep my lights on pay for the labels, I pay for my deliveries. I pay for my customers,” said Casey.
The lower prices are causing local owners like Casey to find ways to compensate. But in the end, he says it’s taking a financial toll.