Understanding Competition in U.S. Prescription Drug Markets: Entry and Supply Chain Dynamics #00497

Submission Number:
Jeffrey Beck
Initiative Name:
Understanding Competition in U.S. Prescription Drug Markets: Entry and Supply Chain Dynamics
I am a retail pharmacy owner, just finishing up my 9th year of ownership, with over 28 years in the retail environment. I am urging you to take a closer look at how the PBM practices are changing the face of small business in the country. Our nation has supported small business from the onset. Unfortunately, a David and Goliath situation has developed with the PBM companies dictating all the terms of a payment contract with a retail pharmacy. We are unable to even negotiate terms due to the ' Take it or Leave it ' attitude. It is my opinion that the PBM giants only wish to deal with larger operations like Rite-Aid, Walgreens, CVS, Wal-mart and other chain operations. The PBM folks do not care to have our representatives understand or know how the payment side of things operate. What good purpose do the PBM operations serve? I urge you to not just agree with what is presented by their high dollar lobby folks. Take a look at some of the salaries and perks of the top PBM operations. Where do these funds come from? Savings on the drug costs? rebates (that are supposed to be passed back to the insurer), underpayment of claims to retail pharmacy. Lately, as of 10/26/17, massive MAC (maximum allowable cost) reductions result in claims being approved at a lower cost that I can buy the drug from my supplier. It does not take a CPA or genius to understand that we (small stores) can not survive. Appeals from the store level or PSAO level fall on deaf ears. Please help and take a hard look at this! Come out to a store in your district and visit a few hours and watch our reimbursements on the screen. Please help! Thanks kindly, ! Jeffrey D. Beck. R.Ph. Steve's Pharmacy [redacted] Attached is a file with details of claims loss for calendar yr to date of 8206.50 and period to date 10/26/17 thru 12/08/17 of 1868.45