Independent pharmacies at risk for closing across Mississippi
COLUMBUS, Miss. (WCBI) – Independent pharmacies across Mississippi say they’re losing money and could soon be forced to shut down because of how little they’re being reimbursed for prescriptions.
Now, the state’s attorney general is taking legal action against some of the biggest companies involved.
Pharmacy benefit managers, or PBMs, are the ones short-changing the independent pharmacies.
Chris Bonner, a local pharmacist, said his PBM charges hefty fees, making it nearly impossible to turn a profit.
“We’re being charged up to seven or eight dollars at a time simply to fill a prescription. And the PBMs and co-pay card manufacturers are then splitting that,” said Bonner.
PBMs are the middleman between drug manufacturers, insurance companies, and pharmacies — controlling both reimbursement rates and patient drug prices.
Bonner said they end up losing money on dozens of prescriptions a day.
“We’re having to lose money, give money back to PBMs and co-pay card manufacturers when they have done nothing. And when you see losses of a lot of money and it’s just going back to the insurance company, it’s very frustrating,” said Bonner.
Now, Mississippi Attorney General Lynn Fitch has filed a temporary restraining order against Good Rx, CVS, and Inside Rx.
She argues their actions violate Mississippi law by unfairly cutting reimbursements.
“This injunction is going to last for a week, but it doesn’t affect any prescriptions being filled. It prevents the PBMs from taking money from pharmacies as a claw-back,” said Bonner.
Bonner said since January, his pharmacy alone has lost money on more than a thousand prescriptions.
“It’s only on certain prescriptions that certain PBMs are contracting out with co-pay card companies to charge companies. It’s not on all of them, but it’s on quite a bit, you know, several dozen a day,” said Bonner.
Allegro Family Clinic in Columbus said low reimbursements forced them to close two pharmacy locations last year.
Bonner plans to send the information to the attorney general about the money lost today.
Attorney General Lynn Fitch will present the case to the supreme court on Tuesday.
If you would like to know more information on how to help independent pharmacies in Mississippi, you can join the Facebook group, S.I.P. for PBM Reform.
