All Moreland & Devitt Pharmacies in the area will be closed on Wednesday as the owners and workers travel to the State Capitol to lobby Illinois lawmakers for reform surrounding Pharmacy Benefit Managers.
WGEM in Quincy reports that CEO Scott Stoll and owner/head pharmacist Garry Moreland have classified PBMs as “middle men” who have undercut smaller, independent pharmacies by not passing along cost savings that major chain pharmacies receive.
In the State of Illinois, there is no oversight of PBMs. They are third party companies that function as intermediaries between insurance providers and pharmaceutical manufacturers. National Federation of Independent Business-Illinois recently submitted written testimony to the Illinois House Health Care Availability Committee calling for greater transparency in pharmacy benefit manager pricing to pharmacies. Governor J.B. Pritzker recently asked state lawmakers in his budget address last week to look at ways of lowering prescription drug prices, and to specifically block pharmacy benefit managers from using arbitrary drug classifications that limit access and charge consumers more.
Pritzker also called for an audit: “We’ll also give full statutory authority to the Illinois Department of Insurance to examine the books and records of PBMs and require them to submit to annual reporting and auditing. We’re going to end their overcharging for drugs people rely on, from insulin for diabetics to chemotherapy for cancer patients.” Pritzker says his proposed legislation would increase resources for rural pharmacies, like those in West Central Illinois.
Stoll told WGEM that PBMs are undercutting smaller pharmacies like his by taking large chunks of reimbursements on medication they order. Stoll said it can take as much as 60 days to receive reimbursements. He claims reimbursements have dropped off over the years.
Moreland and Devitt first opened over 50 years ago on the Rushville Square. In addition to the Rushville store, Moreland & Devitt has locations in Beardstown, Mt. Sterling and Virginia, Illinois.
Moreland urges residents who utilize independent pharmacies throughout the region to reach out to their local legislators and voice their support.