Wicker Bill Would Aid Independant Pharmacies Affected by Delayed Medicare Drug Reimbursements

WICKER BILL WOULD AID INDEPENDENT PHARMACIES AFFECTED BY DELAYED MEDICARE DRUG REMIBURSEMENTS

Legislation would speed payments; increase dispensing fees

WASHINGTON, DC-U. S. Rep. Roger Wicker has introduced legislation to ease the cash-flow burden placed on many local pharmacies by the new Medicare prescription drug program.

The prescription drug benefit went into effect January 1, 2006, and has already begun saving seniors money on medication. More than 27 million Americans have signed up for the program and are taking advantage of the savings, but the process is not without administrative challenges. One problem that has arisen concerns the timely payment of pharmacies for the drugs they provide to seniors. Many pharmacies have been forced to wait four to six weeks for reimbursement.

" Anytime you start a program of this size, there will be challenges," Rep. Wicker said. "This is a serious challenge because it threatens to put many of our community pharmacists out of business. We must find a way to speed the reimbursement process."

Rep. Wicker's legislation, called the Independent Pharmacy Protection Act, would require the companies operating Medicare prescription drug plans to reimburse participating pharmacists within 10 days and require the companies to offer electronic direct deposit to pharmacies wishing to utilize that option. The bill would also increase the dispensing fee on generic drugs to encourage the use of these less expensive alternatives.

" Our local pharmacies should not be forced to endure this financial hardship. These simple steps would remedy the problem and allow pharmacists to continue to meet the medical needs in their communities all across America," Rep. Wicker said.

http://www.house.gov/wicker/PharmBill.htm