Pharmacy Owners Alliance (POA)’s Post

(AXIOS) - " Walgreens Has A Prescription For Its Struggling Drug Store Chain." The retailer joins CVS and Rite-Aid in closing stores and making other changes as it shores up its business model after a shift in customer habits. Finally AFFORDABLE Health & DENTAL Plans At: HI4E.org #WalgreensWalkouts #PharmacistShortages #WalgreensCutsHours #WalgreensStoreClosings #DrugShortages #DrugSupplyChainIssues #WalgreensLosses #PharmacyHours #WalgreensPharmacists #WalgreensPharmacys #WalgreensClosingStores #PharmacyShortages #BidenHealthcare #BidenWantedUnvaccinatedFired #DrugSupplyChain #UnvaccinatedPharmacists #PharmacistsDemands #WalmartPharmacys #AntiobioticSupplyChainShortages #HealthAndLifeSolutionsLLC #Axios #HealthInsurance4Everyone #DrugSupplyChainProblems #DrugSupplies #PhysicianPrescriptions #AntiobioticShortages

The re-shaping of consumer access to healthcare continues to evolve. Brick-and-mortar pharmacies are continuing to close, supplanted by mail order and and digital options, and influenced by retail shrinkage from organized retail theft. Walgreens Boots Alliance CEO Tim Wentworth said 25% of the company's stores were underperforming, with plans already underway to shutter 1,500 stores. The changing distribution patterns of prescription drugs from manufacturer to patient require 3PL partners with existing solutions to maximize patient satisfaction. https://lnkd.in/ejURFeEA #pharma3PL #logistics #3PL

Hot take: I think it's interesting that this coverage excluded the role of CVS PBM in Walgreens decline, or the fact that CVS owns its PBM, or the fact that CVS will put the PBM CEO in as the new CVS CEO. There is no reason that a pharmacy should own a PBM. Also, the interview suggests that people don't want to connect with a pharmacist and would prefer mail order. I love the convenience of delivery but I don't think the sweeping generalization about Americans wanting their meds, wanting them cheap, and wanting them delivered is an accurate reflection as much as it is a manufactured pathway meant to defray costs and increase bottom line - along with increasing executive salaries and shareholder payouts. Many older people rely on their relationship with their care teams- to include the pharmacists- but corporate commodification of our health and well-being has made these relationships less accessible, and unsustainable. Anti-trust much?

US drugstore chains Walgreens and CVS are revamping their business models to counter declining profit margins. Traditional store layouts with pharmacies at the back and retail items at the front are being reconsidered. Walgreens is experimenting with smaller stores, placing pharmacies near entrances, and implementing self-service kiosks and robotic pill-counting to reduce pharmacist workload. CVS is integrating primary care centers into stores. Both chains are struggling with competition from retailers like Amazon and Walmart, high operating costs, and a workforce under pressure. They aim to enhance customer convenience and focus on health and wellness to boost performance and profitability. https://lnkd.in/dAwxQaAr

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

Pharmacy deserts are appearing across U.S. as Rite Aid, Walgreens, CVS drug store closures spread. Rite Aid pharmacy closures have hit Midwest cities particularly hard. Walgreens has announced it may close as many as 25 percent of its 8,200 stores. Decreased reimbursements are putting the squeeze on drug retailers, and some point the finger at pharmacy benefit managers, which are the target of a new FTC lawsuit, but PBMs are not the only cause of the struggles. $WBA $CVS https://lnkd.in/gvgv9g3N #tradeguard #receivableputoptions #arputs #receivableputs #tradereceivables #accountsreceivables

None of it is working. The aisles of US drugstores are filled with locked cabinets full of toothpaste, shampoo and makeup. Patients wait in line for prescriptions at the rear of the store, where staffing is often thin and harried pharmacists rush through consultations while juggling phone calls. After decades of not changing their standard model, the two US drugstore giants are unrolling blueprints with the intention of #fixing America’s broken pharmacies. Walgreens and CVS Pharmacy "would love to return to such glory days as 2015, when Walgreens’ and CVS’ chains each had about 8,000 stores, employing tens of thousands of pharmacists. CVS’ pharmacy and consumer wellness operating margin was 9.9% that year, and Walgreens’ was 4.4% in the US. Since then, it’s another story. CVS’ pharmacy operating margin was 4.6% last year; Walgreens’ was -5%. For Walgreens, the issue is even more dire: Almost four-fifths of its sales last year came from its poorly performing US pharmacies. Investor displeasure has been evident, as shares have lost a third of their value this year alone and 77% over the past decade. CVS shares have lost 26% over the past 10 years." via Fiona Rutherford @ Bloomberg ********** Failure takes time. But the broader problem is deeper, wider and buried deep in the bedrock. It's a linear-hope-followed-by-expontental-scramble form of management born from a history of education that starts in kindergarten, long before a certificate of completion from the C-suite program at Harvard University is posted on LinkedIn. The thing that's not working is the thinking. Or more precisely, an entire system of thought baked and basted into a fragmentary worldview, now trying to break the hold of a massive feedback loop powered by cliche. You can't invent the automobile if you're trying to "fix" the horseless carriage. But if your vision is a return to the past....if the AI-enabled blueprint for growth is directed at trying to fix the thing that's not fixable....if the big ambition sits on the Standard Model....well, to quote Seinfeld: "Good luck with all that." #ModernStrategy @ Blue Spoon Consulting

HIRC Insight Series: Walgreens' Strategic Shift and Its Industry Implications Walgreens is making significant changes by reducing its stake in VillageMD and closing underperforming stores amidst efforts to streamline operations and improve financial performance by cutting an estimated $1 billion in costs. Such strategic decisions highlight the evolving landscape of healthcare retail, brick-and-mortar locations, and the growing emphasis on profitability and efficiency for companies. As the industry adapts to new challenges, staying informed and agile is crucial. For deeper insights and comprehensive analysis, contact your HIRC team! https://lnkd.in/dyF3NXAC #HIRCInsightSeries #HIRC #Pharmaceuticals #Pharmacy #Healthcare #Pharma #MarketAccess #RetailPharmacy #HealthcareTrends #BusinessStrategy https://lnkd.in/eTCHi3Z6

People ask how on earth these big retailers go broke ?! here is the answer: 1. they don't operate for care which will lead to profit , they operate purely for the "profit now concept"(it is not in a CEO dictionary to go long term plans because their contracts are very short and they want to make the biggest amount of bonuses in few years ) 2. they cut expenses at the bottom = less patient care ,more burnout , extremely high turnover and consequences are known . 3. they rely on deals like #pbms so they can secure business unethically and crush small independent pharmacies as a way to secure volume that would keep alive for only short term ( the irony is ,it is still legal in Canada except #Quebec) 4. they inflate prices of medicine in thier supply chain and they charge more for insurance ( who they have deals with already ) and the patient is the one paying for all this from their premiums . 5. they convince officials that they can do more for less leading to extremely wrong decisions for reimbursement that kill more pharmacies because the cost of filling is way more than what these companies claim they can afford the business 6. when they reach a stage that they don't make same amount of money , they close many branches and by this they not only killed competition but also shoot themselvs in the foot. it is about greed and control not about #patientcare , and the #public as well the #profession are the loosers in this . that is why #corporate pressure and #pbms are the most dangerous thing on our profession in #Ontario and in #Canada . Health | Santé Ontario Health | Santé Ontario Ontario College of Pharmacists Sylvia Jones Ontario Government | Gouvernement de l’Ontario #Pharmacists #healthcare