MCLEAN CO., Ky. (WFIE) - After eight years of business, Sacramento Pharmacy will officially shut its doors at the beginning of March.
Pharmacy owner Gregg Henry says in January alone his business lost $5,000 in revenue. He says this has to do with Pharmacy Benefit Managers, or PBM’s, connected to big corporations like CVS Caremark or Optum RX.
Henry says the PBMs control the amount independent pharmacies like Sacramento will be reimbursed for the medications they sell. He says over the last two years, the reimbursements have dwindled to the point where he can no longer afford to stay in business.
According to Henry, some customers will now have to make a 20-mile trip to fill prescriptions.
“People that we deliver to because they’re elderly or they have no way to get to the pharmacy," Henry explains. "We would take the medication to them and we would do that on a daily basis.”
Henry says his pharmacy has stopped filling new orders. He says he and his remaining staff are helping customers transfer their prescriptions to other pharmacies.
He is urging members of his community to reach out to Kentucky legislators to ask them to get rid of Pharmacy Benefit Managers.