Second-generation pharmacist Anna Noojin’s dream job has turned into a nightmare because of pharmacy benefit managers, she said during a trip to advocate for reform in Washington.
The PBMs act as middlemen that manage drug benefits for insurers and reimburse the retailers for the cost of the drugs. Community pharmacists, like Noojin from Boaz, said those third-party groups’ practices have “devastating” consequences for their business.
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Last year, Boaz Discount Drugs filled more than 40,000 prescriptions that were reimbursed less than what they paid to buy the drug, according to Noojin.
“We filled an additional 10,000 prescriptions where our profit was less than the candy bars we sell on the front counter, making us, according to PBMs, less valuable than a vending machine,” Noojin said during a press conference outside the U.S. Capitol recently.
Noojin and a group of Alabama independent pharmacists recently visited Washington to advocate for bipartisan legislation, called the Pharmacists Fight Back Act.
“Pharmacies and our most vulnerable patients are struggling, and we need support with action now, or it’s going to be too late,” Noojin said.
The federal legislation would apply to Medicare and Medicaid patients and federal employees, establish a transparent pharmacy reimbursement model using market-based pricing and prohibit PBMs from limiting what pharmacies a patient can use to receive their prescriptions.
EDITOR’S NOTE — This story was written by Alex Angle and originally published by Alabama Daily News.
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