How the food lion program helps pharmacies deal with rising drug costs
WASHINGTON—The Food Lion program, which helps retailers make more money from their suppliers, is proving a hit with consumers.
The pharmacy benefit will cost an average of $14.50 per patient, or $2.50 more than the average pharmacy bill.
The savings on a typical pharmacy bill have been substantial.
Pharmacies are currently paying a whopping $9.15 per patient for prescription drugs, more than double the national average of just $2, according to data from pharmacy benefit comparison site Pharmacy Benefit.
Many consumers will get to see what they can expect when they sign up for the program in the coming months.
The benefit is set to kick in in on Jan. 1, 2018, and lasts for three years.
“We have seen tremendous consumer demand for these programs, and our team is focused on making sure that these programs are successful,” said David Smith, president of the American Pharmacists Association, in a statement.
“With more and more people looking for affordable prescription drug coverage, we want to ensure that our customers can access the best pharmacy benefits possible.”
The program has been popular for several reasons, Smith said.
It’s designed to help retailers compete in a rapidly changing market, with drug prices climbing in tandem with the inflation rate.
It also offers pharmacy savings to help pay for expanded access to pharmacy benefits in the future.
The program will provide pharmacists with more incentive to make more of their products, since they will be able to take advantage of discounts on new drugs.
For example, if a manufacturer offers a discount on a new drug, pharmacists might be able take advantage by ordering it directly from their local pharmacy.
The new drug might be much cheaper than what they were charging a few years ago.
Another reason the program has worked well is that many pharmacies have found it difficult to keep up with demand for new medications, said Steve Groshen, senior vice president of pharmacy benefit management at Medco, the largest pharmacy benefit provider.
The drug manufacturer has to have a program in place to pay for its medications, and the pharmacy benefit plan can be expensive for pharmacies that have little or no patient base, Grosen said.
The pharmacy benefits are part of the Pharmacy Benefits Protection Act, a law that has been working its way through Congress.
The bill requires the FDA to evaluate whether or not pharmaceutical benefit plans are a good fit for pharmacies, and if so, whether they should be allowed to provide benefits to patients.
If the agency decides that they are, the bill would require the government to pay the companies that make the plans a premium.
The Food Lions program is the latest example of how a consumer-friendly approach to pharmacy costs can help pharmacies.
Last year, President Donald Trump signed a bill that gave the government a new incentive to keep drugs in pharmacy stock, and he signed an executive order that extended the Pharmacists Access to Choice program, a program that allows pharmacies to offer drugs to patients who can’t afford the cost of a prescription drug.
Pharmacy benefit plans have been on the rise in the United States in recent years, with the number of health plans offering them growing steadily.
“We have an increasingly complex and changing health care system, and these new pharmacy benefits could be the next best thing to address that,” said Sami Jahan, a senior analyst at the consulting firm BMO Capital Markets.
For now, the Pharmacist Benefits Protection program is in its third year, and it’s not clear how the program will evolve in the years ahead.
Pharmacists have been under pressure from a number of forces, including the rising cost of prescription drugs and the increased competition from online pharmacies.
However, the pharmacy benefits program is still the most popular pharmacy benefit in the country, with more than 10 million people signing up to receive the benefits.
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