WALSH COSPONSORS LEGISLATION SUPPORTING INDEPENDENT PHARMACISTS
FAST Act Will Speed Up Government Payment of Medicare Prescription Drug Claims

(Washington D.C.)- Congressman Jim Walsh today announced he is cosponsoring H.R. 5182, the Fair and Speedy Treatment of Medicare Prescription Drug Claims Act of 2006.  The legislation will improve and speed up Medicare Part D claim payments to pharmacies, especially important for smaller, local, and independent pharmacy operations with tighter bottom lines.

"The Medicare Part D prescription drug plan is proving to be a considerable benefit for America's seniors, saving many an average of $1100 per year," said Walsh.  "But many smaller, independent pharmacists now have to undertake a whole new category of claims processing.  Recognizing that long, time-consuming, and confusing claims processing hurts small, local operations more so than the national chains, this legislation guarantees timely payments to neighborhood pharmacies."

The legislation will ensure:
· Pharmacists are paid for their services in a timely manner by requiring Medicare prescription drug plans to offer electronic direct deposit of reimbursements to participating pharmacists;
· 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 to ensure pharmacists can afford to provide these cost-saving drugs to their communities; and
· Co-branding is prohibited on cards issued by a prescription drug plan.

General taxpayers will also benefit from this bill, which saves both taxpayers and the program an average of $94 for every generic prescription dispensed.

"The intent of this new Medicare benefit is to improve access and decrease the cost of prescription drugs to seniors," added Walsh.  "We can't do that if reimbursement and claims processing delays force small, community pharmacies out of business.  Independent pharmacies like Galen Pharmacy in Clyde are especially important to small and rural communities in New York."

The legislation has been endorsed by the National Community Pharmacist Association, which is holding its annual conference in Washington this week.

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