Pharmacies Getting Late Payment for Part D: Study

Reimbursements to pharmacies that serve patients with Medicare Part D can take 30 to 60 days, according to a new study by the University of Texas at Austin's Center for Pharmacoeconomic Studies.

AUSTIN, Texas – Reimbursements to pharmacies that serve patients with Medicare Part D can take 30 to 60 days, according to a new study by the University of Texas at Austin's Center for Pharmacoeconomic Studies. The report, “Length of Prescription Drug Payment Times by Medicare Part D Plans,” extracted information from a database of 3 million Part D claims from 145 independent and 17 chain pharmacies and found the median percentage of pharmacy claims that take over 30 days to be paid was 50.1%. Reimbursement for 17.2% of those claims took over 60 days. Pharmacies commonly have to pay their suppliers within 15 days, the report added.