- Ky. Senate Bill Aims to Stay Ahead of Biological Pharmaceuticals (wkms.org)
The Kentucky Senate...approved legislation in preparation for an expected increase in the use of biologically similar medications. The bill’s sponsor says these medicines can substantially save on costs when treating certain diseases...more medications for specific ailments are biological products made from living organisms. Bio-similar drugs, which are much cheaper, are being produced as interchangeable medicines...legislation allows pharmacists to dispense bio-similar drugs in the place of biologics without having to notify the doctor in advance...pharmacists would still be required to notify doctors of interchangeable bio-similar drugs within five days of dispensing. "If a patient has a reaction to a drug and I think I’m prescribing them drug A and you’ve given them drug B, and they may have to come to the hospital with a reaction, I’m the one treating them and assuming that liability," Alvarado (Winchester Senator, Doctor Ralph Alvarado) explained. "I have to know what drug you gave them..."
- Competitive Advantages of Independent Pharmacies Versus Retail Chains (pharmacytimes.com)
Dan Benamoz, RPh, President and CEO of Pharmacy Development Services, discusses the competitive advantages that independent pharmacies have over their retail pharmacy counterparts.
- 3 compliance rules pharmacies must know (drugtopics.modernmedicine.com)
With 2016 well underway, pharmacies of all sizes should review recent regulatory updates to ensure compliance with rules already in effect, and preparation for those to be implemented soon. Three, in particular, warrant a close look.
USP 797 Pharmaceutical Compounding – Sterile Preparations. The comment period for USP’s proposed revisions for compounding sterile preparations closed January 2016, and comments are now under review. If finalized as-is, USP 797 may publish by November 2016, at which time pharmacies will face significant changes...
USP 800 Hazardous Drugs – Handling in Healthcare. This was approved and published in February 2016. It defines hazardous drug containment processes to promote patient safety, worker safety, and environmental protection...
Drug Supply Chain Security Act. Enacted in November 2013, this sets forth requirements to build electronic systems to identify and trace certain prescription drugs in the United States. Pharmacies should consider which aspects of the law they’re held accountable for now, and which aspects they will be held accountable for in the future...
- McKesson AccessHealth enhances suite of reimbursement tools (drugstorenews.com)
McKesson AccessHealth...expanded its suite of reimbursement and performance enhancement tools and relationships...While the shift to preferred networks and new reimbursement models is challenging for many independents, there are also opportunities for incentives...There is a tremendous chance for innovative pharmacies to leverage their strengths, improve their overall pharmacy performance and maximize their reimbursement by interacting with their patients and providing care...more than one-third of Medicare D claims through AccessHealth contracts will include performance-based reimbursement incentives...those pharmacies or pharmacy networks who display top performance will be charged a smaller...Direct and Indirect Remuneration, amount than those who underperform. This...presents independent pharmacies with an...opportunity to reduce their DIR charges, thereby maximizing their potential reimbursement. The new suite of tools include:
- AccessHealth Pharmacy Performance Guidebook...offers detailed instructions on how to develop action plans to improve patient behavior and boost outcomes using such tools as medication therapy management case completion, refill reminder programs, medication synchronization and behavioral coaching;
- AccessHealth DIR Estimator Tool...allows a pharmacy to enter information specific to them and estimate accrual and incentive amounts that may impact DIR payments in order to plan accordingly;
- AccessHealth Webinar Series...designed to help independent pharmacies prepare for new reimbursement rates as well as identify opportunities to leverage the movement toward pay-for-performance incentives.
- What Is URAC Community Pharmacy Accreditation? (pharmacytimes.com)
According to URAC (Utilization Review Accreditation Commission), an independent accreditor that establishes benchmarks and standards for pharmacy practice, any "duly licensed pharmacy in good standing within the jurisdiction of its practice that has at least 1 retail location handling prescription intake and dispensing as well as providing and reporting outcomes on medication therapy management and drug therapy management is the type of organization that applies for URAC Community Pharmacy accreditation."...To earn this accreditation, CVS/pharmacy underwent a rigorous evaluation that validated the quality of the patient care and services it provides, including medication therapy management, wellness services, patient counseling and education, and preventive and chronic disease management...community pharmacy standards assessed by URAC include quality measures reporting, quality management and performance oversight, and pharmacy structure, operations, and drug utilization management..."Having a widely recognized and respected accreditation organization such as URAC independently scrutinize our operation and attest to the quality of the pharmacy care and services we provide demonstrates our continued commitment to helping people on their path to better health as a leader in the healthcare industry," Josh Flum, senior vice president of retail pharmacy at CVS Caremark..."Other URAC Pharmacy Quality Management accreditation programs include specialty pharmacy, mail service pharmacy, drug therapy management, pharmacy benefit management, and workers’ compensation pharmacy benefit management.
- 13 Smart Ways to Cut High Drug Costs (time.com)
Your medicine may come with a new side effect: financial pain. Prescription-drug spending grew 12.2% in 2014—five times as fast as the year before—according to the Centers for Medicare & Medicaid Services. And the sickest Americans bear the biggest burden. Some 43% of those in fair or poor health say it’s somewhat or very difficult to afford their medications, and 37% say they’ve skipped out on filling a prescription because of cost...What has changed? Generic drugs, long an affordable alternative to name-brand medicines, have become part of the problem. The average price of the 50 most popular generic drugs increased 373% between 2010 and 2014...One culprit is consolidation: After a decade of mergers, three big companies now control 40% of the generics market...Weaker competition means drug companies can charge your insurer more. Meanwhile, pricey new miracle drugs—like hepatitis C treatment Sovaldi are also a key factor forcing up overall medication costs...Fortunately, there are plenty of ways for you to save. By making strategic changes in the medications you take (with your doctor’s okay, of course), the places you buy them, and the insurance plan you elect, you may be able to shave 40% or more off your total prescription-drug costs this year. Here are the steps you need to take.
- Substitute generics for name brands.
- Combine pills—or split them.
- Check the formulary for your insurer’s favorites.
- Jump through your insurer’s hoops.
- Ask your plan to make an exception.
- Use mail-order options.
- Use a preferred drugstore.
- Beware of online pharmacy scams.
- Check your insurer’s formulary lists.
- Check for tricky deductibles.
- Price out Medicare options.
- Clip coupons.
- Ask for help.
- Q&A: CVS says this is how it’s lowering drug costs to consumers (statnews.com)
Rising prices for prescription medicines have become an increasingly contentious issue and cast a harsh spotlight on the pharmaceutical industry. As a result, a growing number of state and federal lawmakers are proposing legislation to somehow halt the trend. Drug makers maintain their prices fuel needed innovation and blame insurers for forcing consumers to pay higher costs. But Troy Brennan, the chief medical officer and executive vice president at CVS Health, argues differently. CVS runs the nation’s second-largest pharmacy benefits manager, which negotiates drug prices for companies and government agencies, among others. He maintains CVS is cutting costs to clients. Here is an excerpt of our conversation...
- Wal-Mart says some pharmacy client data was visible to others online (cnbc.com)
Wal-Mart Stores said...prescription history and other basic information on a few thousand online U.S. pharmacy customers may have been visible to other users during a four-day stretch last month due to a coding mistake...We had a software coding error for a 72-hour period from February 15 to 18 that affected a limited group of online pharmacy customers...We moved quickly to fix the issue once it was discovered...The error happened during the migration of servers and was not a hack...Fewer than 5,000 users were potentially affected, a small percentage of the number of people who logged in during the 72-hour period...Wal-Mart is contacting potentially impacted customers directly and is offering them identity protection services...
- Shoppers Drug Mart posts 4Q same-store sales lift of 5% (drugstorenews.com)
Loblaw...posted $33.6 billion in revenue for its year ended Jan. 2, a 6.5% lift with one week less of sales - Loblaw's fiscal 2015 represents 52 weeks while fiscal 2014 represents 53 weeks...I am pleased to report that we continued to deliver against our financial plan in the fourth quarter...The company continues to execute on its strategic framework and purpose...delivering the best in food, best in health and beauty, operational excellence and growth...this framework has positioned us to achieve our financial plan amidst a competitive environment and continued pressures from healthcare reform...For the fourth quarter, Loblaw's retail pharmacy arm Shoppers Drug Mart realized same-store sales growth of 5%, with same-store pharmacy sales increasing by 4.2% and same-store front-store sales increasing by 5.7%.
- Collaborative Practice Agreements Open Opportunities, Liabilities for Pharmacists (pharmacytimes.com)AMCP - Where We Stand - Collaborative Drug Therapy Management (amcp.org)
...48 states and the District of Columbia, pharmacists’ scope of practice allows for collaborative practice agreements with prescribers—although each state has its own rules and nuances about what, where, and with whom pharmacists can collaborate... Antonio Ciaccia...Ohio Pharmacists Association... the state’s new collaborative practice agreement laws will have a major impact on all pharmacy practice settings, including compounding, long-term care, hospital, ambulatory, community, and consulting. While he believes that pharmacists have "more than adequate training" to perform the services permitted under the new law... Because of the variations in state pharmacy practice acts, pharmacists can best defend themselves against such liability claims by taking the time to familiarize themselves with the authority granted to them under their collaborative practice agreement to ensure that they do not exceed that authority. Pharmacists may also check with their malpractice insurance carrier...Despite the increased potential for malpractice and liability issues...expanded collaborative practice agreement law as a victory for prescribers, pharmacists, and patients...engagement of the pharmacist on the health care team is a great driver for improving outcomes...