Proposed regulation would strip nursing home pharmacy providers of oversight duties

Share this article:
Proposed regulation would strip nursing home pharmacy providers of oversight duties
Proposed regulation would strip nursing home pharmacy providers of oversight duties
A proposed regulation that would require nursing homes to hire independent pharmacists to oversee residents' medication plan regimens could have a huge impact on pharmacy services suppliers such as Omnicare and PharMerica.  

According to the proposed rule, relationships between nursing homes and pharmacy suppliers could “conflict with the best interests of nursing home residents.” Therefore, the proposal to mandate independent pharmacists was made.  

The regulation also has implications for Omnicare's hostile takeover bid for rival PharMerica, according to observers.

News of the Centers for Medicare & Medicaid Services proposed rule made shares of Omnicare and PharMerica, the top two nursing home pharmacy suppliers, drop sharply Tuesday. Omnicare shares fell 12% to $21.62, while PharMerica's fell 15% to $11.91, Bloomberg News reported.

Omnicare announced Wednesday that it is extending its offer to purchase all outstanding shares of PharMerica until Dec. 2. Its previous offer was to expire at midnight Tuesday (Oct. 4).
Share this article:

More in News

CMS expands therapy payment research

The government is expanding its research into alternative therapy payments, to consider more holistic changes to the way Medicare reimburses skilled nursing facilities, the Centers for Medicare & Medicaid Services announced Tuesday.

CDC tightens Ebola guidelines for healthcare workers

The Centers for Disease Control and Prevention has issued more stringent guidelines for how healthcare workers should interact with Ebola patients, following an outcry from nurses and other professionals.

Nonprofit providers face alarming market forces, must rally, LeadingAge chairman says

Nonprofit providers face alarming market forces, must rally, ...

Nonprofit long-term care providers must work together to address alarming trends, or their market share could plummet and the sector as a whole could falter, LeadingAge Chairman David Gehm told ...