Medicare payments trickle in to pharmacies

 

Last updated 6/13/2006 at Noon



Many independent pharmacists across the nation have had to wait months to be paid by insurers participating in the Medicare Part D program. Locally, Sisters Drug & Gift has experienced the same problem.

“Most of us are looking at anywhere from three to four months float time,” said Sisters Drug & Gift pharmacist and owner Tim Muir.

Muir said he has not been paid for some prescriptions he filled in January when the program began.

“We’re just playing a waiting game,” said Muir.

Muir said the shortfall has created a real hardship for many small or less-established pharmacies. He has not been given any promises from the government on when Medicare payments will happen in a more timely fashion. However, he thinks Congress will help solve the problem soon before the slow payments make it harder for pharmacies to continue to fill prescriptions.

Independent pharmacists say the long wait to be reimbursed is leaving them short of cash and threatening their businesses. Some Oregon pharmacists have had to borrow money to ease cash flow problems.

An independent pharmacist in Sweet Home reported he had to borrow $60,000 in order to pay his bills on time.

Muir said he has not yet needed to change how he conducts business.

“We’re just biting the bullet and trying to hang in there and look at the long term,” said Muir.

 

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