Washington, DC, September 03, 2019 --(PR.com
)-- Commenting on several elements of the Senate Finance Committee's pending drug pricing bill, the Senior Care Pharmacy Coalition
(SCPC) praised the broad contours of the sweeping legislation and offered strong support for the proposed cap on Medicare Part D beneficiaries' out-of-pocket costs.
"Capping out-of-pocket costs -- and ultimately passing a final bill with caps as low as possible -- would make drugs more affordable for elderly patients and improve their ability to pay for drugs, sustain their prescribed regimen, and improve their overall health," stated Alan G. Rosenbloom, President and CEO of SCPC.
He also pointed out the bill includes disclosure provisions for Pharmacy Benefit Managers (PBM) to the Centers for Medicare and Medicaid Services (CMS), and for CMS to the public, which would benefit consumers.
As the legislation moves forward, Rosenbloom said SCPC would offer two policy refinements:
· More marketplace competition must be a companion to additional PBM transparency, as transparency alone will not address the increasingly oligopolistic nature of the pharmaceutical marketplace;
· Provisions that require reporting of information specific to retail pharmacies should logically be expanded to require reporting of data specific to LTC pharmacies.
"We look forward to working in the coming weeks with Chairman Grassley, Ranking Member Wyden and members of the Committee to advance a positive bill and improve it for the benefit of the nation's independent long-term care pharmacies and the elderly, vulnerable patients they serve," Rosenbloom concluded.
The Senior Care Pharmacy Coalition (SCPC) is the only national organization exclusively representing the interests of LTC pharmacies. Its members operate in all 50 states and serve 850,000 patients daily in skilled nursing and assisted living facilities across the country. Visit seniorcarepharmacies.org to learn more.