Hometown Pharmacy’s move into a storefront less than one-third the size of its current New Glarus location is not simply about having too much space.
Dan Strause, an owner and founder of Wisconsin-based Hometown Pharmacy, confirmed that pressures involving pharmacy benefit managers, or PBMs, played a role in the company’s decision to downsize the New Glarus operation from approximately 5,500 square feet to 1,600 square feet.
“PBMs, their price pressures and patient steering were factors in our downsizing,” Strause told New Glarus 360.
That puts the New Glarus move into a much larger story unfolding across Wisconsin and the country. PBMs are companies hired by insurers and employers to administer prescription drug benefits. Among other things, they help determine which drugs are covered, which pharmacies patients can use and how much pharmacies are reimbursed when they fill prescriptions.
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