CVS Closing 70 stores?

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Cut 1 tech 40h, then you have tons of sh1t left over. :happy:
 
I'm just speculating...

...but I imagine that eRxs put into non-24 hour stores during off-hours might have data entry performed by overnight RPhs. At least that seems like the obvious idea.
 
WVUPharm2007 said:
I'm just speculating...

...but I imagine that eRxs put into non-24 hour stores during off-hours might have data entry performed by overnight RPhs. At least that seems like the obvious idea.
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that would save them a whole 2 minutes per store. i wonder if they will enable working on insurance rejections (refill too soons) remotely from the 24 hour stores
 
Any idea where the store closings are at?
I'm wondering how the tricare loss affects some stores in military areas.
 
maria1oh said:
Any idea where the store closings are at?
I'm wondering how the tricare loss affects some stores in military areas.
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I m pretty sure it's a big slam. We take 5 to 6 profiles a day from just the store across the street from us. Which amounts to anywhere between 25 to 60 scripts a day. Other areas in town are higher density military families, I imagine those stores are really hurting. Passed a WAG store today with "Tricare is back"on the marquee facing the CVS store. I forgot my selfish stick. Sorry no photo for you.
 
"In addition to store closures, CVS Health CFO Dave Denton said the company is finding efficiencies in corporate shared services that promise to drive down labor costs by 15% to 20%. For retail, that might include instructing overnight pharmacists to provide data entry during the slow hours, he said. "

Yeah, because we have sooo much free time. We barely finish all the crap we already have to do like the 14 day RTS, refilling the robot, filling narcs on hold, C2 state count, cycle counts, putting away warehouse order, etc.

I wonder if these closings have anything to do with the Target stores.
 
mentos said:
"In addition to store closures, CVS Health CFO Dave Denton said the company is finding efficiencies in corporate shared services that promise to drive down labor costs by 15% to 20%. For retail, that might include instructing overnight pharmacists to provide data entry during the slow hours, he said. "

Yeah, because we have sooo much free time. We barely finish all the crap we already have to do like the 14 day RTS, refilling the robot, filling narcs on hold, C2 state count, cycle counts, putting away warehouse order, etc.

I wonder if these closings have anything to do with the Target stores.
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If you are at a 3000+ store...sure. If not...there is a lot of down time.
 
mentos said:
"In addition to store closures, CVS Health CFO Dave Denton said the company is finding efficiencies in corporate shared services that promise to drive down labor costs by 15% to 20%. For retail, that might include instructing overnight pharmacists to provide data entry during the slow hours, he said. "

Yeah, because we have sooo much free time. We barely finish all the crap we already have to do like the 14 day RTS, refilling the robot, filling narcs on hold, C2 state count, cycle counts, putting away warehouse order, etc.

I wonder if these closings have anything to do with the Target stores.
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How do the few overnight RPH typing rx for an hour or two reduce labor cost by 15 - 2o percent? Sounds bull****, proly more cuts in hours.
 
There are not too many 24/7 stores doing less than 3,000/week left in my area. The slowest 24/7 stores closed back in December 2015.
 
steveysmith54 said:
How do the few overnight RPH typing rx for an hour or two reduce labor cost by 15 - 2o percent? Sounds bull****, proly more cuts in hours.
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The end of the overnight pharmacist? It has always been a loss leader anyways.

I guess other ways include cutting store hours, checkout automation, cutting rph hourly rates, cutting benefits, getting rid of middle management? But yeah, 15-20% is a lot. They would need to make dramatic changes.


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our 24hr store average 3,500 scripts a week. i'm always afraid they would shut down the overnight, so i'm currently trying to get license out of state and move out before they start sending pink slips again.
 
The cvs in gallipolis ohio did over 4,000 scripts a week and cvs cut it to 8am-midnight store last December. No other 24/7 store around it for competition was the main reason for it cutting back.
 
WVUPharm2007 said:
They are coming up with new ways to make them do more work, so I'm guessing that's a "no."
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If they are mentioning graveyard pharmacist then that means they are specially targeting them.

Walgreens has been cutting 24 hour stores so why does CVS need to have that many 24 hour stores? If it is no longer a marketing reason then the graveyard pharmacist would need to produce or risk being cut.

Now that CVS revenue growth has remarkably slowed down, it needs to cut to maintain its profit margin. Besides, they need the money since they are increasing their dividend payout.

I think it is only a matter of time before all of these retail chains take a big ax and get rid of the graveyard pharmacist.

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A few times a year, I'll do a search for 24 hour pharmacies on a company's locator. I should have kept records because the decline has been startling. Right now for Atlanta proper there is only one 24 hour Wags and practically zilch in the burbs. Jacksonville used to have a bunch. Not anymore. Tallahassee had four during the peak of the market. Now just one crummy store.
 
doublehh03 said:
the slow stores. my district just closed down like a 13-1400 script store. there are other slow stores that can absorb that volume.
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It probably has to do more than just script volume. Wouldn't they look at store profitability, the stores metrics, and geographic area? For instance I know of a store in the mid west, where it bounces between top #1 and #2 in district but only does about 1300Rx a week. I don't see why they would close a store strictly based on Rx count if this store is thriving in the area.
 
WVUPharm2007 said:
If you are at a 3000+ store...sure. If not...there is a lot of down time.
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What 24 hour store has only 3000/week?? CVS got rid of many low volume 24 hr stores last year.
 
SmallPharma said:
It probably has to do more than just script volume. Wouldn't they look at store profitability, the stores metrics, and geographic area? For instance I know of a store in the mid west, where it bounces between top #1 and #2 in district but only does about 1300Rx a week. I don't see why they would close a store strictly based on Rx count if this store is thriving in the area.
Click to expand...

It is interesting, they desperately want their store KPM's to correlate to EBIT but it rarely does.


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