Ed Cohen, PharmD, FAPhA’s Post

How to continue supporting communities while making strategic (and sometimes necessary) business decisions is an important conversation to continue having. I appreciated this article for highlighting the impact of access to healthcare retail. "When pharmacies close, some patients have to travel farther to get the medications they need. Researchers find pharmacy closures lead to health risks such as older adults failing to take medication. The loss of a retail pharmacy can leave a void, especially for lower-income households. Roughly one out of every eight pharmacies closed between 2009 and 2015, which disproportionately affected independent pharmacies and low-income neighborhoods, according to a study published in the Journal of the American Medical Association." https://lnkd.in/gh89j9Em #healthcarerealestate #retail #communitybuilding #realestatematters #drugstores

Who wants to receive warm insulin by post because the Koolpak has been exposed to the elements for far too long? Not me. Been there, done that. Access to insulin at retail pharmacies is rapidly declining. In April, 2024 RITEAID PHARMACY announced another 13 stores closing in 5 states, on top of 250 stores closed in October, 2023. Now 25% of Walgreens stores may soon be closing. Some small towns, like mine, only have one pharmacy. My RITEAID 5614 Riteaidpharmacy Healthcare uses just-in-time inventory and has to order #Novolog from a Novo Nordisk distributor every time I fill my prescription. If it closes, I would have to drive 30 minutes to the next closest pharmacy. As if the cost of insulin isn't bad enough, (unless you are a Medicare beneficiary with $35/monthly out of pocket), it is starting to feel like filling a prescription the old-fashioned way will require the cost of owning a car plus gas, or a taxi, or Lyft adding more costs and time to the burden of diabetes self care. #diabetes #insulin #breakthrought1d #fda What say you? David Schweikert Aetna, a CVS Health Company Express Scripts by Evernorth Phlow AmbioPharm - A Global Peptide CDMO Civica Rx Kaiser Permanente

Did you know that Oregon has the second-fewest retail pharmacies per capita in the nation? "Oregon had 610 retail pharmacies statewide as of February, amounting to just 14.4 pharmacies per 100,000 people...And that number is falling," reports Antonio Sierra and Amelia Templeton. In fact, 36 pharmacies closed last year, and several more have already closed in 2024. This is why we believe independent pharmacies are so important at IPC. Everyone deserves access to a pharmacy that can truly take care of their needs... and it's hard for pharmacies to meet this need when they have so many patients. It's also important to note that when people lose access to pharmacies, they may be losing access to any nearby healthcare facility, leaving them with next to no healthcare options at all. #PharmaNews #IndependentPharmacy #Healthcare

Major retail pharmacies are struggling to make profits and are turning to new business models. Walgreens plans to invest heavily in VillageMD to open primary care clinics within its pharmacies. CVS plans to close around 900 stores while revamping and creating more HealthHub locations that offer a range of services. These strategies highlight how pharmacy giants are moving away from filling prescriptions and towards a more comprehensive healthcare spot. Read more at the article below: https://lnkd.in/eWzf8QAP 👊🏿I'm Claude, and I am an independent pharmacy and multi-business owner who invests in commercial real estate. If you are looking to learn how to invest in commercial real estate, build a successful business, or simply seeking inspiration to pursue your dreams, follow me. Like and share my content to stay updated on valuable insights. I look forward to connecting with you. #commercialrealestate #investing #RxREI

Independent Pharmacies: Holding Strong Against Big Chains Check out this article from Times Union about how independent pharmacies in the Albany area are thriving despite the challenges posed by large chain competitors. It’s a great reminder of the resilience and personal care that independent pharmacies like ours offer to our communities. #IndependentPharmacies #PharmacyLife #SupportLocal #PharmacyInnovation #CommunityCare https://lnkd.in/gKDDTJ2g

I myself have gone into a pharmacy to pick up a prescription recently, saw a long line that wasn't getting shorter, decided to leave because I didn't have time to wait. Even though the pharmacy sent me a text asking if I wanted to get a delivery, when I tried through their app, it would make me go in circles without actually confirming that request. I'm frustrated as a patient, but I know that it's rough every single day for the pharmacy staff. The biggest issue is that this is a patient safety problem. This isn't new, but it's getting worse. This is why I love building Pharmesol: I can finally improve the experience for both patients and pharmacy teams at the same time. Some quotes from the article: “the current pharmacy model is not sustainable,” "Chains and independent pharmacies alike are short-staffed, leading to long lines and frustrating experiences." "Running the businesses is getting harder, too." #pharmacyoperations #pharmacyinnovation

It's sloppy writing/reporting like this from once trusted #beckerhospitalreview that infuriates me. Passing opinion as facts brazenly: "...There are several reasons behind the changing landscape. Brick-and-mortar locations have longer wait times, are less trustworthy and present more difficulties when ordering prescriptions compared to digital and mail-order options...." If you can't through thorough fact-based fact-checked reporting figure out WHY the pharmacies are being closed, please do not spread conjecture. Over generalization and plain falsifications abound. #pharmacies #healthcare #retail

In #Albany, #NewYork, #independentpharmacies are thriving while chain stores are closing down. The closures are due to overexpansion and financial difficulties, while independent #pharmacies focus on #patient care and essential health items. Independent pharmacies face challenges from #pharmacy benefit managers (#PBMs) that reimburse them at rates lower than the cost of #medications, leading to financial struggles. The decrease in chain pharmacies has resulted in the creation of #pharmacydeserts, areas with limited access to pharmacies, particularly in underserved neighborhoods. Independent pharmacies provide crucial support to communities with low health literacy and complex medication needs, offering services beyond just filling #prescriptions. Despite #reimbursement challenges, independent pharmacies see an increase in customers due to their personalized care and community focus. Efforts are being made to regulate PBMs and increase transparency in prescription pricing to ensure the sustainability of independent pharmacies.

36 Oregon pharmacies closed last year, and more are closing this year. How can Oregon, a state that considers itself a leader in innovative pharmacy practice, be 2nd worst in the entire nation in access to a pharmacy? It's not just the rural areas either. In the Portland Metro where I live, at least we have pharmacies...but there aren't nearly enough. Get ready to wait in line at a chain or big box unless you're lucky enough to have one of the few independents available to you. If you are using an independent, it may not be for long--they are quite literally fighting to stay alive against relentlessly unfair terms from the PBMs. Terms for which pharmacies have virtually no leverage to negotiate, and frequently pay below cost. From the article-- "A recent audit by the Oregon Secretary of State suggested that one reason chain pharmacies have been able to outcompete independent pharmacies is because they are subsidiaries of those same health care giants that use their pharmacy benefit managers to negotiate favorable reimbursements with insurers. National chains, the audit found, were reimbursed twice the amount that independent pharmacies were for selected drugs reviewed in the audit." We are grateful for the legislators (a bipartisan group, believe it or not!) here locally who have tried to address this matter for years including Rob Nosse, Ed Diehl, Nancy Nathanson and others...but unfortunately the PBM monopoly has managed to create confusion and derail good legislation meant to address these problems. Health plans also stand in the way of fair terms and reimbursements to our local pharmacies. Inexplicably, this includes regional health plans based right here in the northwest. It seems there is no limit to the corporate greed destroying community pharmacy. Legislators at both the federal and state levels must act to restore a fair marketplace, or we'll continue to lose the pharmacies in Oregon and throughout the country. #pharmacy #pharmacist #healthcare #pbm #orleg #orpol Jules Walters https://lnkd.in/gAWs4JMM

The US retail pharmacy landscape is evolving rapidly, presenting challenges such as saturated locations, labor shortages, and inflationary pressure. To stay competitive, pharmacies must understand and adapt to changing consumer preferences. A recent McKinsey & Company consumer survey of over 1,000 people in the US sheds light on these evolving preferences. The survey outlines how the industry has transformed, how consumer preferences have shifted, and how different pharmacies can respond effectively. #pharmacy #retailpharmacy #healthcare #retail #innovation #technology #insurance #mckinsey