NCPA Conference Call: Medicaid Prescription Drug Regulations Threaten Patient Access to Community Pharmacies

WHAT: The National Community Pharmacists Association (NCPA) will hold a telephone news conference on the Centers for Medicare and Medicaid Services' (CMS) Medicaid pharmacy reimbursement formula for generic prescription drugs. -- An analysis of the impact on community pharmacies and patients -- The perspective of community pharmacy owners -- Details about NCPA's legislative strategy WHEN: Wednesday, July 11, 2007, at 2:00 p.m., Eastern Time CALL-IN #: 800-944-8766 (Conference Code: 94894) WHY: CMS' final rule for Medicaid pharmacy reimbursement has not addressed major flaws in its proposed rule, which generated enormous criticism from members of Congress, NCPA, and other organizations. The "Average Manufacturer Price" -- based reimbursement formula, according to a Government Accountability Office report, will compensate pharmacies on average 36 percent below their cost to purchase the medications. Community pharmacies with an average number of Medicaid patients will see their profit plummet from $129,000 a year to under $9,000 due to the lost revenue caused Medicaid reimbursement cuts, which will either force these small business owners out of the program or out of business. The real victims of this flawed policy are the Medicaid patients of community pharmacies, who often reside in underserved rural and dense urban areas. Medicaid patients, 50 percent of whom are children, will lose access to life-saving drugs and be forced to find more expensive options for their health care needs such as emergency room visits. NCPA is working with the Senate and House to quickly introduce and pass legislation that establishes an accurate retail acquisition cost instead of AMP. SPEAKERS: Charles Sewell, Senior Vice President, Government Affairs, NCPA Douglas Hoey, RPh, Senior Vice President and COO, NCPA Robert Appel, Senior Vice President, Communications, NCPA Brahmaji Valiveti, RPh, Lenox Terrace Pharmacy, New York, NY Shelley Bailey, RPh, Central Drug, Portland, OR CONTACT: John Norton of NCPA, +1-703-600-1174, john.norton@ncpanet.org. NOTE: Documents and audio recording of call will be provided.