TORONTO, April 1,
2024 /CNW/ - CareRx Corporation
("CareRx" or the "Company") (TSX: CRRX), Canada's leading provider of pharmacy services
to seniors living communities, welcomes the decision by the Ontario
Government to pause the previously scheduled changes to long-term
care pharmacy funding that were scheduled to go into effect on
April 1, 2024.
Under certain amendments to the Ontario Drug Benefit Act
that came into effect on January 1, 2020, the reimbursement
model for long-term care pharmacies in Ontario was changed from a fee-for-service
model to a fee-per-bed capitation model under which pharmacies
receive a fixed professional fee for all pharmacy services provided
to residents in long-term care homes. The fee for 2024, which is
currently prescribed at $1,500 per
bed serviced, was scheduled to decline to $1,400 per bed serviced on April 1,
2024.
"Pharmacy service providers like CareRx are highly integrated in
long-term care homes and collaborate with physicians and nurses to
help improve medication and labour management," said Puneet Khanna, President and Chief Executive
Officer of CareRx. "This pause in the fee reduction will ensure
that long-term care pharmacies can continue to deliver the same
exceptional partnership and essential service offering to long-term
care homes and help alleviate the many burdens home staff are
facing. We want to thank Minister Jones, Minister Cho, their
respective staff and the Ontario Government for recognizing the
value of long-term care pharmacy service providers. We look forward
to continuing to work collaboratively with the Ontario Government
to help demonstrate how long-term care pharmacies can continue to
be partners in helping achieve the goal of ensuring four hours of
direct resident care per day."
About CareRx Corporation
CareRx is Canada's leading
provider of pharmacy services to seniors living communities. We
serve approximately 91,000 residents in over 1,500 seniors and
other congregate care communities (long-term care homes, retirement
homes, assisted living facilities, and group homes). We are a
national organization with a large network of pharmacy fulfillment
centres strategically located across the country. This allows us to
deliver medications in a timely and cost-effective manner and
quickly respond to routine changes in medication management. We use
best-in-class technology that automates the preparation and
verification of multi-dose compliance packaging of medication,
providing the highest levels of safety and adherence for
individuals with complex medication regimens. We take an active
role in working with our home operator partners to promote resident
health, staff education, and medication system quality and
efficiency.
SOURCE CareRX Corporation