Independent pharmacies across the country are struggling with rising costs and declining reimbursements, forcing many to close their doors. South Carolina is experiencing the same trend, with approximately 40 independent pharmacies closing annually and only 280 remaining statewide, according to the South Carolina Pharmacy Association.
Pharmacy owners say reforming pharmacy benefit managers (PBMs), which administer prescription drug benefits, is critical to improving the industry’s financial outlook. They want reimbursement rates that cover medication acquisition costs and provide a reasonable dispensing fee for their services.
The South Carolina Pharmacy Association also supports stronger oversight and enforcement authority for the state Department of Insurance to hold health insurers accountable.
State Rep. Heath Sessions (District 46, York County) has emphasized the need for improved oversight of health insurance companies and enforcement of existing laws.
The association is encouraging South Carolina residents to contact their legislators and raise awareness about the challenges facing independent pharmacies in their communities.
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Patrick Byrne lives in Tega Cay with his wife and two daughters. After 25 years working for a Big 4 bank, he retired to pursue his passion for writing. Additional articles and content can be found on his blog (reverian1776.blogspot.com) and freethepeople.org.
