Is there a remedy for the struggling pharmacy industry? Employees and customers hope the answer is yes and it kicks in quickly before more pharmacies are forced to close their doors.
National chain Walgreens is making headlines this week after it announced plans to close roughly 1,200 stores. While we don't know if any Western New York Stores are affected by that, a local pharmacy owner said there's one big reason so many are struggling and closing.
"I think patients you know they take for granted that their pharmacy's always going to be there," said Don Arthur, the owner of Brighton Eggert Pharmacy in the Town of Tonawanda, a family-owned and operated business since 1968. "The pressures that the insurance plans are putting on the providers are making it more difficult."
Arthur said something needs to be done about low reimbursement rates. According to Arthur, in some cases he's not even being reimbursed enough to cover the cost of the medication.
"We're just looking for fair compensation so we can continue to keep the lights on," said Arthur. "The problem with the chains and independent pharmacies, the contracts they're now having to accept from the large prescription benefit managers...PBMs that we've talked about in the past...Express Scripts, United Health Care...they're just not reimbursing expensive medicines."
He said unless pharmacies have other sources of income like Walmart and Target they have no choice but to close. He hopes to hang on until there's hopefully a solution.
"When we leave a network...when we say we've had enough and we can no longer participate in Highmark Blue Cross or United Healthcare, we're not quitting on the insurance plan...we're quitting on our patient," said Arthur.
