WASHINGTON, March 8, 2017 /PRNewswire-USNewswire/ -- Following Congressman Peter Welch's scheduled meeting today at the White House with President Trump to discuss lowering prescription drug pricing, among other issues, the Senior Care Pharmacy Coalition (SCPC) praised the Vermont Democrat for playing a leading national role in helping to boost prescription drug pricing transparency -- the lack of which is negatively impacting elderly Vermont citizens.
Specifically, SCPC President and CEO Alan G. Rosenbloom praised Welch for working in bipartisan fashion last week with U.S. Rep. Morgan Griffith (R-VA) to introduce H.R. 1038, the "Improving Transparency and Accuracy in Medicare Part D Drug Spending Act."
H.R. 1038 will curtail the ability of drug industry middlemen -- Pharmacy Benefit Managers (PBMs) -- from extracting retroactive direct and indirect remuneration (DIR) fees in post-point of sale transactions with long term care (LTC) pharmacies, and other pharmacy providers.
"We applaud and strongly support Congressman Welch's bipartisan effort to crack down on PBMs' ability to reach into the pockets of elderly patients and the long-term care (LTC) pharmacies who serve them weeks and even months following a prescription drug transaction," Rosenbloom said.
"Passage of Rep. Welch's bill into law will begin to address DIR fee abuses -- and other dishonest practices such as "switching fees" -- that negatively affect patients, LTC pharmacies, and the Medicare program itself, he continued."
Concluded Rosenbloom: "We look forward to working with Congressman Welch in the coming weeks to further detail the extent to which PBM middlemen wrongly siphon resources from elderly patients and the providers who serve them. The fact he was invited to the White House today to discuss health policy matters of such importance to Vermont consumers reflects well on his leadership skills, and understanding as to why enhanced drug pricing transparency must be a 2017 congressional priority."
The SCPC is the national association for independent LTC pharmacies. Our member pharmacies provide care and services to patients in LTC facilities in across the country occupying approximately 675,000 beds across the country. Visit us at www.seniorcarepharmacies.org to learn more.
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SOURCE Senior Care Pharmacy Coalition