The closure of pharmacies in Washington State has become a growing concern for its residents. Within the past 18 months, a staggering 83 pharmacies have been forced to shut down, as reported by the Washington State Pharmacy Association. This is an alarming trend that highlights the dire need to address the issue and find solutions to ensure access to pharmacies for the people of Washington State.
According to a recent investigation conducted by the Associated Press, Washington State ranks sixth in the nation when it comes to inadequate access to pharmacies. The closures have had an impact on the entire state, including rural communities and heavily populated areas.
According to Jenny Arnold, CEO of the Washington State Pharmacy Association, Seattle has also experienced a significant loss of pharmacies. Furthermore, Seattle no longer has any 24-hour pharmacies available.
According to Jenny Arnold, the reason behind the limited access to medication in Washington is the Pharmacy Benefit Managers (PBMs), despite retail theft and opioid settlement funds being blamed in part. PBMs serve as intermediaries in the pharmacy industry, playing a crucial role in the supply chain.
According to a report published in the Journal of the Missouri State Medical Association, PBMs leverage their market power to boost their profits rather than cutting costs for consumers. Surprisingly, PBMs also own their own pharmacies, leading to significant conflicts of interest, hindering competition, and distorting pricing.
State Senate Bill 5213, which has recently been passed, aims to enhance PBM regulations within our state. As a result, patients will no longer be obligated to use mail-order pharmacies to fulfill their specialty prescriptions.
Senator Maria Cantwell recently introduced a bipartisan legislation aimed at tackling unjust drug prices and improving transparency in the operations of Pharmacy Benefit Managers. According to the Senator, pharmacists play a vital role in the healthcare system, and there is no alternative to having a neighborhood pharmacist. She expressed her concerns over the growing number of independent and community pharmacy closures in Washington State and attributed these closures to the unfair business practices of insurance company middlemen.
Arnold explained that pharmacies face a difficult decision when it comes to accepting contracts. Refusing to take the contract can result in losing a significant portion of their business overnight. However, accepting the contract can lead to financial losses while still losing a third of their patients. Essentially, pharmacies find themselves in a lose-lose situation.
Patients in Washington are being advised by the Washington State Pharmacy Association to connect with their respective U.S. Representative and express their demand for change.
We received a statement from Senator Maria Cantwell regarding this matter.
Jesse is informed by her that a bill has been presented that is bipartisan in nature and aims to enhance the transparency of drug prices. The bill also intends to hold PBM’s accountable for their manipulation of prices.
The rising number of independent and community pharmacy closures in the State of Washington is a cause of great concern. Insurance company middlemen and their unjust business practices have played a significant role in contributing to these closures.
A new bill has been introduced by Cantwell, which aims to enhance drug price transparency and hold PBMs responsible for price manipulation. The bill has bipartisan support, indicating the growing concern over rising drug prices and the need for more accountability in the healthcare industry.
