Rite Aid comps decrease 3.6% as same-store prescription count increases 0.3%
CAMP HILL, Pa. — Rite Aid’s same-store sales for February 2013 decreased by 3.6% over the previous year, including a 1.3% decrease in front-end same-store sales and a 4.7% decrease in pharmacy same-store sales, the retail pharmacy chain said Thursday.
Front-end comps attributable to flu-related OTC products were flat, while pharmacy comps included a negative effect of 695 basis points from new generic introductions. Same-store prescription count increased 0.3%, including a 0.1% decrease attributable to flu shots and prescription flu drugs.
Total sales for the 4,623-store chain were $2.457 billion, a 3.7% decrease from last February’s $2.551 billion.
For the 13 weeks ended Saturday, comps were 2% lower, including a 0.3% decrease in front-end comps and a 3.1% decrease in pharmacy comps; same-store prescription count increased by 3%. Total sales decreased by 2.4%, to $6.425 billion. The chain said this was its ninth consecutive quarter of increases in prescription count and 10th consecutive quarter of improved or flat front-end comps.
For the 52 weeks that ended Saturday, comps decreased by 0.3%, including a 1.4% increase in front-end comps and a 1% decrease in pharmacy comps. Total sales for the period were $25.284 billion, a 0.9% decrease from the same period last year.
CVS care-management services subsidiary wins URAC accreditation
WOONSOCKET, R.I. — Washington-based healthcare accrediting organization URAC has given a subsidiary of CVS Caremark case management accreditation, valid through March 1, 2016, CVS said Wednesday.
CVS said Accordant Health Services met URAC’s standards, which require companies to establish processes to assess, plan and implement case management interventions.
"We are very excited to have received URAC accreditation," Accordant Health Services president Trip Hofer said. "We understand that holistically supporting individuals who have rare conditions will impact lives and healthcare spend. Accreditation from URAC is important for Accordant. It recognizes our ongoing commitment to excellence and demonstrates our passion for providing services in the highest quality manner."
Accordant provides health plans, employers and CVS Caremark PBM client members with care-management services not offered in traditional health management programs, particularly for people with rare, complex medical conditions.
NCPA, NDPA praise unanimous passage of PBM transparency bill by N.D. state assembly
ALEXANDRIA, Va. — The National Community Pharmacists Association on Wednesday joined the North Dakota Pharmacy Association in support of a pharmacy benefit manager transparency bill that was passed by the state assembly by a vote of 93-0 on Feb. 25.
If signed into law, the legislation will require PBMs to notify pharmacies about how reimbursement for most prescription drugs would be calculated. “For too long pharmacies have been forced into one-sided contracts that compel pharmacies to either accept the PBMs’ [Maximum Allowable Cost lists] or forego serving their patients,” stated Mike Schwab, EVP for the North Dakota Pharmacy Association. “This legislation is a step in the right direction to ensure PBMs disclose how pharmacies will be reimbursed for generic drugs in contracts.”
This legislation now sits with the North Dakota State Senate’s Human Services Committee. Similar MAC transparency legislation is currently being considered in Maryland, Georgia and Kentucky, the NCPA noted.