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South Carolina Pharmacy Association calls for PBM reform amid pharmacy closures

1 report, 1 independent Updated Fri 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Independent pharmacies across the country are struggling with rising costs and declining reimbursements, leading to closures. In South Carolina, the South Carolina Pharmacy Association reports that approximately 40 independent pharmacies close annually, leaving only 280 remaining statewide. State Representative Heath Sessions has emphasized the need for improved oversight of health insurance companies and enforcement of existing laws.

From wrhi.com

Why it matters

Some supportBrind's analysis of the reports

The industry is calling for reforms to Pharmacy Benefit Managers (PBMs) to improve the financial outlook for pharmacies. Pharmacy owners seek reimbursement rates that cover medication acquisition costs and provide a reasonable dispensing fee for their services.

From wrhi.com

Who's involved

  • Heath SessionsAdvocated for improved oversight of health insurance companies and enforcement of existing laws.
  • South CarolinaIs the state experiencing the trend of independent pharmacy closures and financial strain.

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • South CarolinaSpeculative

    Independent pharmacies in South Carolina might face continued revenue decline if reimbursement rates are not reformed.

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The entities involved

Coverage

Newest first; wire copies grouped