“The Medicare prescription drug benefit placed an overwhelming and unnecessary burden on our pharmacists,” Congressman Berry said. "This legislation will not only ensure pharmacists get reimbursed in a timely manner, but will save taxpayers billions of dollars in excessive drug costs. The current leadership forced this expensive and complicated benefit on the American people and must enact some commonsense reforms to provide relief."

“Immediate action is needed to assure that pharmacists will be able to serve their local communities and taxpayers will benefit from lower prescription drug prices,” Congressman Jones said.  “As a result of the implementation of the Medicare Part D prescription drug benefit, many independent pharmacists are facing a financial crisis.  The impact of the drug benefit has already put some pharmacists out of business, and it threatens many more.  This legislation is a necessary step toward alleviating this problem.”

The Fair and Speedy Treatment (FAST) of Claims Act of 2006 seeks to ensure that:

Ø      Pharmacists are paid for their services in a timely manner by requiring Medicare Prescription Drug Plans (PDPs) to offer electronic direct deposit of reimbursements to participating pharmacies;

Ø      Claims submitted electronically will be paid within 14 days, and all other claims will be paid within 30 days;

Ø      Pharmacists are promptly notified if there are problems with submitted claims;

Ø      Generic dispensing fees are set at a minimum level to ensure pharmacists can afford to provide cost-saving drugs to their communities; and

Ø      Co-branding is prohibited on cards issued by a prescription drug plan.

H. R. 5182 also builds on a provision in the 2003 Medicare bill by establishing guidelines for Medication Therapy Management (MTM) programs offered by drug plans.  Such programs are critical in promoting the proper use of medications and reducing adverse events in high-risk seniors.