GREEN BAY – After nearly 70 years serving the public, Streu’s Community Pharmacy and Retail Store will close its doors Nov. 30, shifting its focus instead towards long-term care.
“We have made the decision to restructure our organization and focus only on our long-term care services and discontinue serving patients in our community privately,” said Nicole Schreiner, CEO and owner of Streu’s Pharmacy. “It’s been a tough decision to make… It’s just become very difficult for community pharmacies to be financially viable due to the pharmacy [benefit] managers (PBMs) reimbursing numerous prescriptions at low costs. It’s very difficult to be able to manage and keep our pharmacy viable.”
Serving as the middlemen in the prescription drug supply chain, PBMs negotiate prices for prescription drugs and manage prescription drug benefits for patients’ health plans…