Lying in Wait
The average cost of a modern pair of shoes averages $75.00. The average cost of one gallon of gas is $2.43. Buying groceries for a family of four averages $1,287 a month. But do you know how much you are paying on average for your medication?
Many patients and caretakers don’t realize, no matter what they are paying, they do not have control over the costs. This includes what medications insurances can and can’t cover, because at the core of the pharmaceutical industry lies a proverbial wolf in sheep’s clothing; Pharmacy Benefit Managers.
Pharmacy Benefit Managers were originally the answer for paper-free and easier medication acquisition. Now, they are exploiting their role by creating and managing pharmaceutical rebates which hurts the people who rely on medications.
Two local pharmacies in Southeastern North Carolina, in Hampstead and Rocky Point, are trying to make a positive difference in their respective communities regarding this abuse; Village Pharmacy of Hampstead and Rocky Point Pavilion Pharmacy.
Stuck in the mud
PBMs can negatively impact the ability for caretakers and patients to obtain affordable medication.
Insurance companies don’t really have a way around this problem. They are caught inside the vicious cycle of PBMs negotiating drug approval and the prices of medication with drug manufacturers. As the companies who produce medications end up increasing their prices to compensate, PBMs will receive more rebates from insurance companies to try and get medications approved by specific insurance plans.
The result of all these negotiations, is a system driving the cost of medication up rather than down. This perpetual cycle is one that consumers, local pharmacies and the pharmaceutical industry has been in for a while.
Unfortunately, the consumer is catching the brunt of it, while PBMs take the biggest cut of the profit for themselves. PBMs have been taking advantage of your money and this system for years.
Choose to take your business to independently owned pharmacies who are fighting against this systemic abuse.
Village Pharmacy of Hampstead and Rocky Point Pavilion Pharmacy are working with local consumers to ensure they can get the medication they need without paying more than they have to.
A pharmaceutical stranglehold
PBMs have a tighter grip on the pharmaceutical industry than the average consumer realizes. Large pharmacy chains are often right in the pocket of these middlemen, and because of the monopoly they hold, the average consumer is unwittingly funneled towards those pharmacies.
Many caregivers are content with this at first, as low co-pays are initially available with most insurance plans. It is normal for many to feel that insurance is expected to cover medication costs to some extent. But over time, as the cost of medication passes a certain threshold, consumers end up paying higher co-pays over time.
A 2018 report from Auditor General Eugene DePasquale found that prescription drug costs went from $1.41 billion in 2013 up to $2.86 billion dollars in 2017. Within a span of four years, prescriptions have increased and show no signs of stopping.
In September of last year, Consumer Reports surveyed 1,015 adults. 12% of that audience reported that their prescription drug costs increased by $100 dollars or more. These price and rebate dealings between the PBM is not known to the consumer. Those deals are kept secret thanks to what are known as “Gag Clauses.” Even pharmacists at large chains are forbidden from leaking information about medication prices. In many ways, PBMs are largely protected from being exposed. In other words, it’s illegal to find out if they’re doing anything illegal.
This is all a product of the Safe Harbor Protection Laws that were passed by congress. It prevents the taxpayer from investigating into these issues and thus limiting the scope of what prices and costs can be shared to the public. There’s a stranglehold on the medication you and your loved ones need in order to be well, and PBMs are at the center of this system breakdown.
Both Village Pharmacy of Hampstead and Rocky Point Pavilion Pharmacy offer friendly service with several benefits that make getting your medication easier.
Locally owned pharmacies are here to help
It’s never been a better time to go local for your prescribed drugs and medication. Both Village Pharmacy of Hampstead and Rocky Point Pavilion Pharmacy make it so the consumer has the advantage in getting what they need most.
There’s a mobile app, where you can easily have your prescriptions ready every month. Even better is Med Sync, which ensures that you can pick your prescriptions at the same time every month, and all your refills will be in alignment with one another. Immunizations are offered in a friendly and safe atmosphere. And if you have a special four-legged patient, there’s a variety of veterinary medication at both locations.
You can also make sure your loved one never misses a medication again with their Medminder packet which organizes prescriptions. No more asking and forgetting if medications have been taken at the appropriate day and time!
Patients have found that independently owned pharmacies carry the same prescribed drugs as chain pharmacies but for much less. Make the right decision for you and your loved one, by taking your business to the local pharmacists who truly care for your health and financial well-being. Village Pharmacy of Hampstead and Rocky Point Pavilion Pharmacy is pharmaceutical care done the right way.
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