The small-town pharmacy Honest Rx explicitly does not take health insurance, a practice the owner says helps his patients save money on their medicines. The Virginia pharmacist says that dealing with pharmacy benefit managers (PBMs) and payer organizations slows down his practice and separates him from his patients, whom he generally charges wholesale cost + 20% + a dispensing fee.
According to Hyacinth Empinado, “With many pharmacies hobbled by shrinking reimbursement rates from health insurance and pharmacy benefit managers, more independent pharmacists are looking into becoming cash-only, said Kurt Proctor, senior vice president of strategic initiatives for the National Community Pharmacists Association.”
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(Source: Stat News , November 21st, 2022)