Oklahoma pharmacies are claiming to be losing hundreds of thousands of dollars due to a lack of reimbursement from CVS Caremark for prescriptions. Attorney General Gentner Drummond has filed a lawsuit against CVS Caremark seeking to recover $2 million to help these pharmacies. Drummond alleges that CVS Caremark violated state law by reimbursing pharmacies below the cost they paid for prescriptions. The law states that prescription benefit managers must pay the cost of the drug or inform pharmacies of alternative options at the price the PBM is willing to pay.
Pharmacies like Broken Arrow Family Drug owner Todd Pendergraft are feeling the impact of these reimbursement issues, with Pendergraft stating that he has had to turn customers away and has lost at least $150,000 in refunds. Additionally, the issue is not just affecting small pharmacies but is causing larger chains like Walgreens to close some stores.
CVS Caremark has responded to the lawsuit by stating that they deliver value to their Oklahoma clients daily and are reviewing the allegations in the complaint. The pharmacies are struggling to keep up with the financial losses and are hoping for a resolution to the reimbursement issue. The impact of this issue is significant, affecting not only the pharmacies directly involved but also the customers who rely on these pharmacies for their medications.
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