The legislation will assist independent pharmacists in serving their patients by ensuring that insurance companies do not provide inadequate and late reimbursement rates under the new Medicare Part D prescription drug benefit. The bill also promotes greater use of generics, saving taxpayers money.  Ultimately, this legislation will help our pharmacists continue to deliver consistent access and quality care to their patients.

The Fair and Speedy Treatment (FAST) of Medicare Prescription Drug Claims Act of 2006, which was introduced by Congressmen Walter Jones (R-NC) and Marion Berry (D-AR) seeks to ensure that:

• Pharmacists are paid for their services in a timely manner by requiring Medicare Prescription Drug Plans (PDPs) to offer electronic direct deposit of reimbursements to participating pharmacies.
• Claims submitted electronically will be paid within 14 days, and all other claims will be paid within 30 days.
• Pharmacists are promptly notified if there are problems with submitted claims.
• Generic dispensing fees are set at a minimum level in order to reduce the low reimbursement pharmacists earn in providing these cost saving medications. Under the new bill, taxpayers and the program would save an average of $94 for every generic prescription dispensed.

“As the owner of a family pharmacy in Prescott, Arkansas and husband of a pharmacist, I know first hand the issues facing independent pharmacies nationwide.  Over the past several years, Congress has made substantial changes to both Medicare and Medicaid, which will ultimately hurt the independent pharmacy community’s ability to deliver quality care to its patients.

“The Medicare prescription drug benefit continues to place an overwhelming and unnecessary burden on our pharmacists and their patients.  If Congress does not act soon, more pharmacists may have no choice but to close their doors, as some have already done, leaving patients without access to a critical health care source.  Our bill is a simple reform that will make sure pharmacists are treated fairly and not held hostage by insurance companies.

“This legislation would also build on a provision in the 2003 Medicare bill by establishing guidelines for Medication Therapy Management (MTM) programs offered by drug plans, which are critical in promoting the proper use of medications and reducing adverse events in high risk seniors.”

In conjunction with speaking at the NCPA conference, a press conference was held today where over 200 NCPA members attended.  Ross, joined by bipartisan members of Congress, highlighted the benefit to patients the Fair and Speedy Treatment (FAST) of Medicare Prescription Drug Claims Act of 2006 will provide.

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