Independents blast Walmart-Humana plan
ALEXANDRIA, Va. The independent pharmacy industry is crying foul over a new plan by Walmart and insurance giant Humana to steer seniors to Walmart stores via a steeply discounted Medicare Part D prescription drug plan that gives preferred rates to Walmart pharmacy customers.
In a fast and furious response to Friday’s launch of the Humana Walmart-Preferred Rx Plan, the National Community Pharmacists Association blasted the retail giant for what it asserted is a heavy-handed attempt to gain market share through its massive financial firepower. The new PDP, NCPA asserted, “imposes higher co-payments on seniors who choose to continue using their trusted local, community pharmacy.”
Walmart and Humana jointly unveiled the Preferred Rx Plan this morning, roiling a Medicare Part D prescription drug market that currently serves some 18 million seniors who rely on PDPs for their prescription services. The new plan offers Medicare beneficiaries a single national monthly plan premium of $14.80 –– less than half the national prescription drug plan average, according to some estimates –– and a co-pay of just $2 on many generic drugs.
The caveat: Those rates are only offered through Walmart, Sam’s Club and Neighborhood Market pharmacies.
NCPA president Joseph Harmison was incensed. “This is simply Walmart’s latest ‘loss leader,’ intended to bring more people through its doors at the expense of patient care and quality customer service,” he charged Friday. “Patients taking a brand-name drug or [those] who can’t or don’t want to take a therapeutic substitute for the drug their doctor prescribed may see little, if any, savings.”
“What’s more, patients are being financially coerced to get their medications at Walmart stores, which make up less than 7% of all of the retail pharmacies in the United States,” Harmison added. “As NCPA reviews the Walmart plan, we intend on reading the fine print. For example, we want to ensure the plan adheres to Medicare’s marketing and plan guidelines. We also will learn more about how the plan may disadvantage other pharmacies and their patients and will respond accordingly.”
NCPA’s president charged that Walmart’s pharmacy customers have to put up with long waits and “assembly-line service,” particularly to take advantage of the retailer’s $4 generic drug offer. “By contrast, independent community pharmacies earned among the highest customer satisfaction scores of all pharmacies” in the most recent customer survey from J.D. Power and Associates, Harmison asserted. “That’s due in large part to the sterling customer service and competitive pricing that these local pharmacies offer.”
Garden of Life introduces Vitamin Code Kids
WEST PALM BEACH, Fla. Garden of Life has developed a chewable whole food multivitamin for kids that provides them with essential nutrients and minerals.
Vitamin Code Kids are cherry-berry chewables that contain 22 organically grown fruits and veggies to provide immune support, digestive health, support for growing bones, mental and physical energy, and eye health, Garden of Life said.
"Unfortunately, most kids’ multivitamins fall short of the nutritional standards parents set for their children. However, with this whole food multivitamin, I feel that all of the nutritional bases for kids are covered," said Jordan Rubin, Garden of Life’s founder and CEO. "With Vitamin Code Kids, there’s a 100% whole food multivitamin that parents can offer their kids with confidence because it will nourish the body and deliver nutrients as nature intended."
Drug Store News once again hosts annual Industry Issues Summit, Diabetes Roundtable
NEW YORK Drug Store News is presenting in November in New York its 12th annual Industry Issues Summit and eighth annual Diabetes Roundtable — a must-attend event that attracts leading industry players and will feature a special celebrity speaker.
This year’s Industry Issues Summit will be held Nov. 30 at the New York Athletic Club, which is located just a stone’s throw away from Central Park. Over the years, the Industry Issues Summit has become a critical industry event, and this year’s gathering will prove to be especially important in light of healthcare reform, the economy and its impact on consumer shopping behavior, and retail pharmacies increasingly taking a proactive role on the frontlines of U.S. health care.
Larry Kudlow, host of CNBC’s “The Kudlow Report,” will be the keynote speaker. Kudlow, who for many years served as chief economist for a number of Wall Street firms, will be presenting “Never Sell America Short: Free-Market Capitalism and the American Economy.” Kudlow is a nationally syndicated columnist and also hosts his own blog. He is a contributing editor of National Review magazine, as well as a columnist and economics editor for National Review Online. He is the author of “American Abundance: The New Economic and Moral Prosperity,” published by Forbes in January 1998. He also serves as CEO of Kudlow & Co., an economic research firm.
“This one-day event will provide unprecedented access to a multiple list of leading-edge retailers from many formats that will enable sponsors a unique opportunity to share in the dialogue about retailer-supplier best practices, alignment strategies and industry growth opportunities. Drug Store News is also pleased to make our Industry Issues Summit and Diabetes Roundtable an annual event that is held every year during ‘NACDS Week’ in New York City, which times nicely with several key committee meetings and highlights with the NACDS Foundation Dinner,” said Wayne Bennett, publisher of The Drug Store News Group.
Retail panelists for this year’s Issues Summit will include top executives from H-E-B, Costco, Max-Wellness, Rite Aid, Wegmans, Ulta Beauty, Walgreens, Sam’s Club and Ace Hardware.
Retail panelists for the Diabetes Roundtable include top executives from McKesson’s Health Mart, Wegmans, H-E-B, Giant Eagle, AmerisourceBergen, Rite Aid, Kerr Drug and Cardinal Health.
Current sponsors include Pacific World, Takeda, Pharmavite, TABS, Catalina Marketing, Alberto Culver and Nipro Diagnostics.