15 March 2010 Walgreens to Fill Prescriptions for Current Medicaid Patients Only As of April 16; Talks Continue with State of Washington DEERFIELD, Ill., March 15, 2010 - Walgreens (NYSE: WAG) (NASDAQ: WAG) has given notice to the State of Washington that its pharmacies across the state will continue filling Medicaid prescriptions for current patients, but effective April 16 they will not accept new Washington Medicaid patients. The company, which operates 121 pharmacies in Washington, originally planned to stop filling Medicaid prescriptions in February at 64 of its stores across the state because of continued reduction in reimbursement under the State’s program. That decision was delayed while negotiations continued over the last month.
“Obviously, we’re disappointed that the alternatives we’ve suggested have failed to achieve a compromise,” said Kermit Crawford, Walgreens executive vice president of pharmacy. “We intend to continue our commitment to serving our existing patients, but we simply can not take on additional losses. As we seek to find a solution, we remain hopeful that our continued work with the State Department of Social and Health Services will ultimately result in maintaining access to quality pharmacy care for those most in need.”
The most recent pharmacy payment reduction results from a Massachusetts court ruling last fall that reduced the industry pricing standard, even though pharmacies’ acquisition costs haven’t changed. While many private insurance providers have adjusted pharmacy reimbursement rates to limit the impact of the court ruling, Washington’s Medicaid program has yet to do so. That’s led to significantly lower payments to pharmacies, severely impacting the economic viability of doing business in Washington.
Walgreens and other Washington pharmacies worked together to identify millions of dollars in potential savings by using medication management techniques such as encouraging greater use of generic prescriptions. Increasing the rate at which Washington Medicaid patients use generic prescriptions by only one percent would have provided more than $9 million in savings.
Under its current pharmacy payment structure, Washington Medicaid is reimbursing Walgreens below its cost to break even on nearly 95 percent of brand name medications dispensed to Medicaid patients. http://news.walgreens.com/article_display.cfm?article_id=5288
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
nah,,,,they'll just pay for privilege to 'opt out'......that's what they do with seniors who refuse medicare now.....
if a senior has a nice private insurance the government 'fines' them to opt out of medicare and for every year they are not enrolled the percentage goes up..... you see this is WAY BEYOND Obama and his brood......
BTW....Medicare being cut for seniors in the New Healthcare Deal is a RED HERRING..........
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Medicare will blend into universal health coverage. Medicaid will blend into universal health care. All private insurance companies are going to be forced to raise their rates due to government mandates and will eventually not be able to exist and will blend into universal health care.
Our health care will end up being a ONE CARD, ONE GOVERNMENT RUN HEALTH CARE SYSTEM. And the IRS will be overseeing the process. So if you owe 'anything' related to health care, they will have the option to either keep your tax return or tax you more!!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Geez Bumble you sound like my kid! Helathcare passed and now she's becoming a Rep. How much more damge can this bill cause.
This has been the plan for 50 years. I'm not saying this is going to happen over night. It may take another 50 years to come to fruition.....but it will happen EVENTUALLY! Even if the reps appeal it, like they say they will come November, it will rear it'sugly head again at some point in the future. Like I said....it could be another 50 years.....I'll be dead and gone by then.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
The bottom line it is the Pharmaceutical companies that are behind the high cost of the meds. One med I am on I was quoted cash price starting at $176 to $237 for the same medication. Price Chopper Pharmacy had the best prices on that one and another one both of which there is no generic for. Also if paying cash price at PC you can get a RX Discount card to help reduce the costs of the medications some.
Government is subsidizing the profit margins of the drug companies.
I don't blame the pharmacies for bowing out they can't keep giving away and expect to stay in business. The problem is as I see it Medicaid recipients have no responsibility to put any money towards their meds. In fact even asking for a $2 co-pay they refuse yet I see them with cell phones, stooping from the weight of all the gold chains and cable tv etc. and eating hotdogs at SS.
The bottom line it is the Pharmaceutical companies that are behind the high cost of the meds. One med I am on I was quoted cash price starting at $176 to $237 for the same medication. Price Chopper Pharmacy had the best prices on that one and another one both of which there is no generic for. Also if paying cash price at PC you can get a RX Discount card to help reduce the costs of the medications some.
Government is subsidizing the profit margins of the drug companies.
I don't blame the pharmacies for bowing out they can't keep giving away and expect to stay in business. The problem is as I see it Medicaid recipients have no responsibility to put any money towards their meds. In fact even asking for a $2 co-pay they refuse yet I see them with cell phones, stooping from the weight of all the gold chains and cable tv etc. and eating hotdogs at SS.
Less government.
Drug companies have alot to do with research......and so does almost everything in medicine except for the human assistance with everyday things a debilitated person is unable to perform.....ever hear of DARPA....and the others I am unable to remember right now but,,,,they are government subsidized(directed) research.....that is what we do as Americans.....we are capitalists.....the government subsidiizes(dirrects)(usually military in nature) then we pass into the public hands....the money gets sucked up for more research....
however, we have become a nation of 'MOTHERS LITTLE HELPERS'.......that lifestyle is generational......has the drug problem existed for thousands of years----OF COURSE....we have just mainstreamed it(kinda like porn)......it's not the drug companies/government--- IT'S EXACTLY WHAT WE HAVE BOUGHT IN THE PAST 40 OR 50 YEARS.....show me the money and the trail it has blazed.........
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
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