Pharmacies and $4 Discount Drugs
Posted: December 4th, 2019, 4:35 pm
It seems like most pharmacies have reduced their discount programs. There used to be many pharmacies such as Kroger and Walmart that offered $4 or $10 drugs on a discount list. However, Kroger and many other chains have stopped that. Walmart used to have a large list, but in recent weeks the list has shrunk to just a few drugs. Many drugs on the discount list have gone up to $24 or more dollars.
Years ago, drugs were much cheaper. Drug companies in the past few years have been increasing drug prices. Even Walmart cannot keep giving away these drugs at a loss.
The pharmacies are not the ones who are inflating the prices. It is the drug companies that make the drugs. They are out of control and only interested in profits. Drug companies do not care if smaller pharmacies get pushed out of business.
There is also the problem of smaller and smaller reimbursements from insurance companies. The pharmacies sign contracts to take insurance plans, but these contracts are negotiated in advance. Drug companies can raise prices every month and by the end of the year the cost of the drugs goes sky high and pharmacies are losing money on many drugs. Customers keep the same co-pay, but the pharmacies are losing money.
The health insurance industry needs reforms, because it is causing many smaller pharmacies such as supermarket pharmacies to run into the red. Many supermarkets are closing down their pharmacies as they are too costly. There are not enough prescriptions to justify the cost of the pharmacy staff. Profits are falling, and some pharmacies are in negative profit due to unused drugs that expire and are a loss.
The government will probably not step in and make any healthcare reform that will save smaller pharmacies. It is difficult enough to have any new healthcare plan put in place.
Years ago, drugs were much cheaper. Drug companies in the past few years have been increasing drug prices. Even Walmart cannot keep giving away these drugs at a loss.
The pharmacies are not the ones who are inflating the prices. It is the drug companies that make the drugs. They are out of control and only interested in profits. Drug companies do not care if smaller pharmacies get pushed out of business.
There is also the problem of smaller and smaller reimbursements from insurance companies. The pharmacies sign contracts to take insurance plans, but these contracts are negotiated in advance. Drug companies can raise prices every month and by the end of the year the cost of the drugs goes sky high and pharmacies are losing money on many drugs. Customers keep the same co-pay, but the pharmacies are losing money.
The health insurance industry needs reforms, because it is causing many smaller pharmacies such as supermarket pharmacies to run into the red. Many supermarkets are closing down their pharmacies as they are too costly. There are not enough prescriptions to justify the cost of the pharmacy staff. Profits are falling, and some pharmacies are in negative profit due to unused drugs that expire and are a loss.
The government will probably not step in and make any healthcare reform that will save smaller pharmacies. It is difficult enough to have any new healthcare plan put in place.