More than half of LTC pharmacies may close unless Congress takes action, group says
By Kathleen Steele Gaivin
McKnight’s Senior Living
Up to 60% of long-term care pharmacies may have to close if Congress doesn’t intercede by January, according to a report released Wednesday by the Senior Care Pharmacy Coalition.
“Government mandated Medicare drug pricing policies inadvertently break the LTC pharmacy payment model because Medicare Part D and PBMs [pharmacy benefit managers] force LTC pharmacies to subsidize inadequate payment with revenues from expensive brand-name drugs,” the organization said.
SCPC surveyed its members regarding the “unintended consequences” of the Medicare Part D price negotiation policies included in the Inflation Reduction Act.
“SCPC has repeatedly warned that, absent congressional action, new Medicare Part D drug pricing policies will soon jeopardize the ability of many LTC pharmacies to maintain operations and continue providing essential, specialized, and legally required pharmacy services to seniors and other LTC patients,” SCPC President and CEO Alan Rosenbloom said.
According to the advocacy organization, Congress must address the issue before January or many of its members will have to shut down.
“LTC pharmacies play a unique role in our healthcare system, and there is no substitute for the services LTC pharmacies provide, such as enhanced medication management, consultant services, quality controls, and much more,” Rosenbloom said. “But right now, the future of long-term care pharmacy is on the line unless Congress acts swiftly.”
Pharmacies that don’t shut down, according to the survey results, would have to lay off pharmacy staff (91%), limit essential services (85%), pass on additional costs to customers (82%) or be challenged to dispense certain medications (56%).
“Time is running short — LTC pharmacies and the patients they serve are counting on this solution that protects access to essential LTC services,” Rosenbloom said.
SCPC said it represents 75% of the long-term care pharmacy sector overall. Its members operate in all 50 states and serve 850,000 residents and patients daily in skilled nursing facilities and assisted living communities across the country.
Read the full original article here.
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