True Cost to Dispense Prescription Medications in New York
Dispensing Prescription Medication
According to a national study released today by the Coalition for Community Pharmacy Action (CCPA) the cost of dispensing medication in New York is $10.96 per prescription. This figure stands in stark contrast to the average dispensing fee paid by government programs such as Medicaid, which reimburses pharmacies on average approximately $4.50. The survey also shows that the national average cost of dispensing medication is $10.50 per prescription.
The Cost of Dispensing Study is the first of its kind, encompassing all factors related to the cost of dispensing medication, in more than 14 years. The study, conducted by the accounting firm Grant Thornton and supported by CCPA and the Community Pharmacy Foundation, reflects data from over 23,000 community pharmacies nationwide. In addition to nationwide cost of dispensing figures, the study includes state-level information for 46 states.
"As a result of low reimbursement rates, many pharmacies will have trouble keeping their doors open or will be forced to reduce the number of pharmacists or pharmacy hours," said Charles Sewell, co-president CCPA. "Inadequate dispensing fees, compounded by a cut to Medicaid prescription drug reimbursement, threaten patient access and the pharmacist's ability to continue to provide patients with quality health care."
Prescription drug cost findings:
- Costs of dispensing vary significantly from state to state, ranging from an average of $8.50 per prescription in Rhode Island to $13.08 in California.