Due to state cutbacks in payments, pharmacy giant Walgreen (WAG) has threatened to stop filling Medicaid prescriptions at more than half of its locations in Washington state.
As early as last year, Walgreen threatened to stop filling Medicaid prescriptions in Delaware and Washington state, but a settlement was reached. Now, 64 of its 121 locations could be affected, as Walgreen maintains it is losing money on 95% of brand-name drugs given to its Medicaid patients.
Medicaid payment rates are lower than rates paid by Medicare and by private insurers. Many doctors refuse to take Medicaid for that reason.
Shares of Walgreen were flat Thursday at $37.11.
No comments:
Post a Comment