National Association of Specialty Pharmacy Strategic Business Exchange in San Antonio, Texas. October 14-16th, 2013
Terry Forshee, RPh Owner of Cherokee Pharmacy Cleveland TN
talks about the D.E.A. & Community Pharmacy
The community pharmacy owner plays an important part of pharmacy credibility, the healthcare of their patient-customers, and an economic advantage to their community. Many pharmacy owners I talk with discover the discipline of economic principles to be confusing, boring, or even depressing as a subject in general. We talk about supply & demand, the PBM payment lifecycle, and stiff competition from the national chains. As a small business owner a certain level of economic theory sometimes seems too abstract to be relevant to their day-to-day lives. Even if pharmacy owners express to me they understand it, in many cases – their executable actions based on economics don’t match their everyday reality – in running their businesses.
I might be harsh in my opinions of some of their choices – after all they are “independent pharmacy owners” and have every right to make specific business decision they see fit for their individual prosperity but you can’t argue with the basic principles of economics.
Economics is studied just as much as medicine. There’s data accumulated over the years to back outcomes in both economics & in medicine.
Economics, whether that be macro or micro, can be reduced to three basic principles: scarcity, efficiency, and sovereignty. These principles were not created by an economist anymore than the stages of a drug’s metabolic effect was created by a pharmacist. These principles exist regardless of whether individuals live in market economies or planned economies. Read more
About the Refill Notices
CVS currently uses data from patients’ prescription drug records to mail refill notices on behalf of pharmaceutical firms.
According to Modern Healthcare, between 75 million and 100 million refill notices are sent annually, primarily to patients with chronic conditions. Drug companies typically pay pharmacies about $1.50 per mailed notice (Conn, Modern Healthcare, 5/6).
About the HIPAA Omnibus Rule
The final HIPAA omnibus rule — which includes four final rules that implement tougher privacy and security provisions — was called for under the 2009 federal economic stimulus package’s HITECH Act and the Genetic Information Nondiscrimination Act. The rules:
Published on Apr 18, 2013
Dr. Timothy Ulbrich – Why the Pharmacist is paramount to helping to fix our health-care crisis