ALEXANDRIA, Va. An organization representing the retail pharmacy industry is applauding a state government after announcing that it would restructure its pharmacy reimbursement rate formula to better serve pharmacy patients.
Effective on Saturday, Sept. 26, the New Jersey Division of Medical Assistance and Health Services will begin to restructure payments to pharmacies at an enhanced reimbursement rate of average wholesale price minus 16%. This enhanced rate will reimburse pharmacies for medications affected by AWP reductions as a result of the First DataBank/Medi-Span settlements. The new reimbursement rate will remain in effect for the rest of the 2009-2010 fiscal year.
The National Association of Chain Drug Stores commended the decision.
"We are pleased that the state of New Jersey has approved a restructuring of the reimbursement rate formula that will better enable pharmacists to serve their patients. As the face of neighborhood healthcare, pharmacies are vital to high-quality, accessible and cost-effective patient care, and to addressing the challenges facing the healthcare delivery system," said NACDS president and CEO Steve Anderson.
“This united effort deserves nothing less than a hearty thank you to many in the state who contributed to this victory for patients," Anderson added. "We applaud the efforts of John Guhl, director of the Division of Medical Assistance and Health Services and his staff at DMAHS. In addition, we would also like to acknowledge the leadership of our state association partners, including the New Jersey Council of Chain Drug Stores, the New Jersey Pharmacists Association, the Garden State Pharmacy Owners, the Independent Pharmacy Alliance and the New Jersey Association of Long Term Care Pharmacy Providers for their dedication and commitment in this long effort. We also thank Gov. Jon Corzine (D) and his administration for their work and leadership."