SCPC’s Comment Letter on the Request for Information Regarding Reporting on Pharmacy Benefit and Prescription Drug Costs
Today, the Senior Care Pharmacy Coalition (SCPC) responded to questions on data collection impacting PBMs and prescription drug costs. First, SCPC urges the Biden Administration to define long-term care (LTC) pharmacies distinctly from other pharmacies (e.g., retail, mail order, and specialty). In addition, the coalition strongly recommends the new regulation collect information on rebates, fees, and other direct and indirect renumeration (DIR)—creating more transparency into the exchanges between key entities that drive up prescription drug costs. Namely, collecting data between health insurance plans, their Pharmacy Benefit Managers (PBMs), drug manufacturers, and pharmacies. Collecting and publicizing this information will support a broader investigation into the anti-competitive practices of major companies.
Read the full letter here.
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Stuck in the middle, LTC pharmacies could be dangerously squeezed by drug price negotiations
Any lower drug prices that result from White House efforts to negotiate on behalf of Medicare beneficiaries may lead to short-term gains for nursing homes, but there also could be a steep price to pay in the long-term, experts warned this week. The Centers for Medicare & Medicaid Services on Tuesday announced the first 10 drugs covered by Medicare Part D that will be included in negotiations running through 2024. They are all commonly prescribed drugs that treat conditions ranging from diabetes to arthritis and heart failure.
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Biden’s Plans to Reduce Cost of Medicare Drugs To Send Ripple Effects Through Nursing Home Industry
Following the Biden Administration’s bid this week to reduce the price of certain drugs – many of which are commonly used in nursing homes – experts are cautioning that the changes may negatively impact the bottomline of organizations in the sector. As Medicare Part D price negotiations for these drugs come into focus this week, the Senior Care Pharmacy Coalition (SCPC), for one, is warning that changes to Part D might cause “collateral damage” to long-term care pharmacies, the patients they serve and operator partners.
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