WASHINGTON — Retail associations spoke out this week in opposition to the July 6 release of the new Medicaid drug reimbursement formula. “This final rule issued by the Centers for Medicare and Medicaid Services is simply unacceptable for community pharmacy and the patients we serve,” said Steven C. Anderson, president and chief executive officer of the National Association of Chain Drug Stores, Alexandria, Va. The formula, starting in October, will be based on the Average Manufacturer Price of drugs, but, the NACDS says, it will include transactions that do not reflect prices paid by wholesalers for drugs distributed to retail pharmacies. According to the National Community Pharmacists Association, also in Alexandria, almost all profit will be eliminated for many community pharmacies as a result of the rule. Both associations have pledged to work with government officials to enact a legislative fix before the implementation of the policy begins on Oct. 1.
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