The Riverdale Press analyzed independent pharmacies and how it’s become increasingly hard for them to avoid lay offs because of their inability to negotiate drug prices that are set for them.
According to the Press, independent pharmacies get their reimbursements and final prices for from pharmacy benefit managers (PBM), who act like middle men with drug manufacturers, leaving the smaller local operations out of the equation.
The fallout is not only for customers who are forced to pay higher prices, but a survey done by the New York City Pharmacists Society found that many local stores, like Sedgwick Pharmacy and Riverdale Specialty Pharmacy, have had to lay off workers because of those high prices and low reimbursement rates.
Last summer thisistheBronX profiled a local pharmacy in Castle Hill that is struggling to compete with the larger chains that can negotiate better drug prices and have greater resources to work with. Their competition point, though, is the personal service they provide.