ASPIRE HEALTH PHARMACY SERVICES Launches Independent Pharmacy GPO
Groundbreaking Independent Pharmacy Group Purchasing Organization (GPO) is focused on leveling the competitive playing field among PBMs, wholesalers, health plans and manufacturers.
(West Sayville, NY) April 26, 2019– Independent pharmacy owners have long been the backbone of healthcare services in their communities. These medication experts deliver quality care and customized services that are essential to the acute and chronic care needs of their patients. The care benefits for these patients has been damaged by a third-party reimbursement climate that does not recognize, fairly compensate, or allow negotiation. “Aspire Health Pharmacy Services (www.aspiregpo.com) has launched a powerful, national consolidated independent pharmacy group purchasing organization (GPO) to implement multi-faceted solutions to keep independent pharmacies vibrant and vital,” says Stephen Hendrickson, Aspire Health’s Chief Executive Officer.
There is imbalance within the pharmacy’s profit model. Wholesalers, PBMs, and manufacturers all have leverage and are forcing many independent pharmacies to consider selling or closing their doors. PBMs have created an unfair environment for reimbursement. Many of the scripts filled in a community pharmacy offer little to no profit at all and some are dispensed at an outright loss. “This is caused by a reimbursement that is tied to an antiquated pharmaceutical purchasing model.” says Hendrickson. Wholesalers most recently have re-priced the products they sell often breaking the Wholesale Acquisition Cost (WAC) minus price model.
Many products including specialty medications, biosimilar drugs, and other branded products which have become generic are now priced independently at a Net Price often greater than a PBM’s reimbursement. This results in a loss to the dispensing pharmacy. “This is simply not fair to a business owner and a healthcare provider,” adds Hendrickson.
Aspire Health Pharmacy Services was developed to change this. Through its growing scale of 2,240 members and intimate knowledge of the industry’s pricing mechanisms, the company is dedicated to stabilizing long-standing pricing, reimbursement, and marketplace inequities for independent pharmacies.
Aspire Health Pharmacy Services is a consolidation of some of the leading retail pharmacy buying group and service organizations that drive business value to pharmacies. These core organizations within Aspire Health Pharmacy Services include: AlliantRx, one of the nation’s top retail pharmacy buying groups with focus on large scale health care and pharmaceutical supply chain industries; PPSC, one of the oldest and largest pharmacy service firms with roots in consolidated purchasing, drug benefit network management, and political advocacy for independent pharmacies; Keystone, a retail buying group that brings strong leadership in political advocacy, drug distribution and consolidated purchasing for independent pharmacy owners; and Omega, a strong network of Northeast retail pharmacies focused on patient outcomes and community care.
Easing Pharmaceutical Marketplace Burdens
“The pharmaceutical marketplace is intricate and complex for all parties, yet it’s particularly inequitable to the independent pharmacy,” says Bill Mincy, BPharm, Vice President of Business Development for PPSC. “More and more ‘middlemen’ are not sharing negotiated savings with independent pharmacies or consumers at the pharmacy counter. Through Aspire Health Pharmacy Services, we will repair marketplace shortcomings. We are building a more powerful scale of customers, significantly boosting negotiation strength, and standing by independent pharmacies with more legislative advocacy and business insights that drive increased value for patients, pharmacies and vendor partners.”
“If independent pharmacy continues down the path it’s on today — with savings going solely to wholesalers, PBMs, and Health Plans, they’re at greater risk to fail,” says Chris Casey, CEO of Keystone “To have a fighting chance at stabilizing reimbursement issues, pharmacies need more representation and oversight in the pharmaceutical marketplace. We joined Aspire Health Pharmacy Services to be a part of turning this industry around from the ground up. The future of independent pharmacy depends on it.”
Already launching with more than 10 percent of the nation’s retail independent pharmacy population as members — and growing, Aspire Health Pharmacy Services is aggressively representing independent pharmacies and invites all stakeholders in the supply chain to join the conversation about easing marketplace burdens and solving inequities for independent pharmacies. To get the full story about Aspire Health Pharmacy Services’ movement in freeing independent pharmacy from the confines of drug pricing and reimbursement wars, visit www.AspireGPO.com.
About Aspire Health
Launched to stabilize pricing, reimbursement, negotiation, and legislation channels for independent pharmacies — once and for all, Aspire Health Pharmacy Services is a consolidation of leading retail pharmacy buying group and service organizations that drive business value to pharmacies. These core organizations include AlliantRx, PPSC, Keystone and Omega, each of which has longstanding roots in health care and pharmaceutical supply chains, purchasing networks, drug distribution, and political and legislative advocacy.
Learn more about how Aspire Health Pharmacy Services is working through solutions, knowledge, and advocacy to keep independent pharmacies vibrant and vital. Visit www.aspiregpo.com or contact Stephen Hendricksonat firstname.lastname@example.org.