Preferred Pharmacy Networks: Money Talks Louder Than Principle
It might be time to stop complaining about preferred pharmacy networks, since many independents are included in them.
Adam Fein is one of my favorite bloggers because he always brings a unique perspective that is often critical of the mainstream rhetoric. He recently observed that many independent pharmacies are participating in Medicare Part D preferred pharmacy networks, yet they often complain about the unfairness of closed networks.
I have heard many independent pharmacy owners complain about pharmacy benefit managers (PBMs) for years, but Fein’s take is that it might be time to stop complaining about such networks, since many independents are included in them.
In my pharmacist member stock club, one of our independent pharmacy owner members recently proposed that we buy Express Scripts, because he had gotten that stock in a club spin-off and it had made money for him. So, even though he had been someone who complained about PBMs, money talked louder than principle.
I guess that’s what’s going on with preferred pharmacy networks and independent pharmacies.