Arkansans, Pharmacists Impacted From Prescription Reimbursement Rates
ARKANSAS (KFSM) — Arkansas Attorney General Leslie Rutledge today announced that she has demanded information from CVS Caremark, a Pharmacy Benefit Manager (PBM), after reviewing complaints of plummeting medication reimbursement rates paid to local pharmacies.
Rutledge said the change in reimbursement rates has hurt Arkansans, and pharmacists have been put in a bind because the reimbursements don’t cover the actual cost of the medications.
“When public health is threatened, all Arkansans suffer,” Rutledge stated.
Rutledge said PBMs, like CVS Caremark, are the go-between for health insurance companies and pharmacies and dictate reimbursement amounts on each prescription. She began looking into the matter when CBS Caremark reduced its reimbursement rate for pharmacies in the Arkansas Health Insurance Marketplace.
The prescription reimbursement rates reportedly dropped in 20 percent of prescription fills. In return, pharmacists have to cover the additional costs.
Rutledge said that, “… impacts their bottom line and could lead to these businesses closing their doors.”
She also said she’ll continue to investigate the PBMs responsible.