The closure of pharmacies, like Ken Reed’s in Hancock, Maryland, poses significant challenges for patients, especially in areas already facing pharmacy shortages. Over 525,000 people in Maryland live in regions where they may need to travel 10 to 15 miles or even cross state lines for prescriptions.
Patients often face hurdles in finding new pharmacies, including issues with insurance acceptance and establishing care at distant locations. Reed cites insufficient reimbursements from pharmacy benefit managers (PBMs) as the reason for his pharmacy’s closure. He advocates for state legislation to establish a minimum reimbursement rate to ensure pharmacies cover drug costs and a dispensing fee.
However, some argue that increasing pharmacy reimbursements could lead to higher costs for consumers, as noted by Heather Cascone of the Pharmaceutical Care Management Association (PCMA). The potential for increased premiums or pharmacy costs poses a dilemma.
Yet, West Virginia’s recent policy, which ties reimbursements to the National Average Drug Acquisition Cost (NADAC) plus a fee, shows that such reforms can stabilize costs without raising premiums. Maryland has attempted similar legislation but has faced obstacles, and PBM representatives argue that independent pharmacies often receive competitive reimbursements.
As pharmacy closures continue, especially in regions with limited transportation options, patients might find themselves with fewer choices, potentially exacerbating health access issues. The ongoing discussions around pharmacy reimbursements are critical for ensuring that patients receive the care they need without undue financial burden.
