A recent consumer survey of over 1,000 adults showed that a plurality of respondents, regardless of age and location, believe that drug manufacturers set unreasonable prices for the drugs they develop.
Access to quality pharmacies is not an issue for many Americans: 86% of consumers find it easy to get their prescription drugs at a pharmacy and have access to nearly three pharmacies within a 10-minute drive.
Nearly 8 in 10 people believe that independent pharmacies should receive the same government oversight as chain pharmacies if they are involved in government-funded and administered programs like Medicaid and Medicare.
When it comes to the government inserting itself in the pharmacy business, the majority of consumers do not think independent pharmacies need government handouts to increase their profits.
Research Highlights PSAO Role in Supporting Independent Pharmacies
A vast majority of independent pharmacies hire powerful, largely unknown third-party organizations called Pharmacy Services Administrative Organizations (PSAOs) to negotiate prescription drug costs on their behalf and help them run their businesses. While independent pharmacies have created an image that they are small “mom and pop” shops, the truth is that more than 83% of these businesses are part of a larger chain.
Negotiate reimbursements from the Pharmacy Benefit Manager (PBM) to the pharmacy
Consult on pharmacy network contracts
Perform back office operations
Unlike all the other entities in the drug supply chain, PSAOs receive little to no government oversight. It’s time our elected officials implement the same level of reporting requirements to PSAOs as they do for other entities in health care.