Independent pharmacists in Mississippi are calling on lawmakers to take action against Pharmacy Benefit Managers (PBMs) who they say are threatening their businesses. PBMs act as middlemen between pharmacies and insurance companies, negotiating drug prices and reimbursements for medications. However, independent pharmacists argue that PBMs have too much power and are driving smaller pharmacies out of business.
Pharmacist Laurie Todd has reported that PBMs often reimburse pharmacies at rates lower than the actual cost of the medications, leaving them operating at a loss. This has led to many independent pharmacists struggling to stay afloat as they are unable to compete with larger chain pharmacies. In addition, pharmacists say that PBMs also impose restrictive contracts and audit practices that put further financial strain on independent pharmacies.
Legislators have proposed multiple bills to address the issue, including one that would regulate the practices of PBMs in Mississippi. This bill would require PBMs to disclose information about drug pricing and reimbursements to pharmacies, as well as prohibit them from engaging in certain anti-competitive practices. Independent pharmacists hope that these regulations will help level the playing field and allow them to continue serving their communities.
The Mississippi Independent Pharmacists Association supports these legislative efforts, stating that PBMs have too much control over drug pricing and reimbursement rates, and that this negatively impacts patient care. The association is urging lawmakers to take action to protect small businesses and ensure that patients have access to affordable medications.
Overall, independent pharmacists in Mississippi are sending a clear message to lawmakers: something must be done to rein in the power of PBMs and save their businesses from financial ruin. They are hopeful that legislative action will bring much-needed relief to their struggling industry.
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