Surplus of pharmacists?

[steveysmith54]

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I read this in several threads here, written by practicing pharmacist.

I am entering pharmacy school and if everything goes well, i hope to become a pharmacist in 4 yrs.

SHould I be worried about this?

I asked my pharmacy manager, she said the opposite. She said there is a shortage because the profession has many female pharmacists who begin to do part time or quit to have families and baby boomers are getting older.

Opinions?

 

[Epic]

No surplus for qualified clinicians and DOPs any time soon.

 

[Farmercyst]

Someone once said it's a problem of displacement rather than population. Nationwide there's still a discrepancy between the amount of available positions and available pharmacists. The problem comes in where the positions are in relation to the population of available pharmacists. Hence in a nationwide (or international) forum, some will say one thing, while others oppose. Last I checked positions still outnumber candidates.

 

[SpirivaSunrise]

Find an area in pharmacy that you love and become specialized...you'll be irreplaceable and immune to any kind of surplus that comes our way.

 

[steveysmith54]

No surplus for qualified clinicians and DOPs any time soon.

Is a residency absolutely neccesary for that?

 

[genesis09]

I asked my pharmacy manager, she said the opposite. She said there is a shortage because the profession has many female pharmacists who begin to do part time or quit to have families and baby boomers are getting older.

That is an important thing to remember. I believe part time pharmacists are now up to about 15% of practicing pharmacists and that number is rising every year. In another 5 to 10 years, the baby boomers will start to retire in earnest. So many fields are expecting shortages when that occurs. Pharmacy is one of the rare fields in which there is no age discrimination. Also, more pharmacists are going into non-traditional areas. Most pharmacists still go into community pharmacy followed by hospital.

In certain areas, there are plenty of pharmacists. You'll find that in the more desireable locations. It doesn't mean you can't find a job, but it might take longer to find the right job.

No one who I have talked to expects that there will be a surplus in the near future, next 10 years or so.

 

[bromine]

At Ferris, they keep telling us that there is a shortage of Pharmacists and it's not going to go away any time soon. With the baby-boomer population turning into geriatrics, prescription volume is going to skyrocket.

 

[Aznfarmerboi]

The practice of pharmacy ultimately depends on us to decide what it will be. A lot of things can happen in the next 10 years. PBM and mail order will inevitablely be our number one foe. For example, yes there will be a lot of baby boomers retiring. The majority of their medications are "maintance" medication. A lot of insurance are requiring that they be filled through mail order, which will lead to a decrease in pharmacies needed. In the detroit area, a lot of of the pharmacies are already being closed.

Medicare Part D are literally forcing a lot of independent pharmacies to go out of business overnight because insurance plans are not compensating their pharmacies fast enough. Profits are slim (2 percent) now. On the other hand, Medicare Part D also recognize our cognitive services and are willing to accept MTM.

For generic medication, Walmart's 4 dollar generic will be a huge blow to almost every pharmacy. Pharmacies make money from generics. If we are forced to compete with Walmart's price, our profit will go down even less.

 

[Epic]

The number of Baby Boomers aren't increaseing. The # of prescriptions they take is increasing but we will hit a plateau where the number of Boomer prescriptions will start to decline....The PBM industry has been implementing policies and procedures to meet the increase in demand through automation...mail order etc.

At an inpatient setting, automation hasn't really decreased the demand for pharmacists. It actually allowed for pharmacists to take on more important clinical roles.

Choose wisely on where you're going to use your education.

 

[sdn1977]

The number of Baby Boomers aren't increaseing. The # of prescriptions they take is increasing but we will hit a plateau where the number of Boomer prescriptions will start to decline....The PBM industry has been implementing policies and procedures to meet the increase in demand through automation...mail order etc.

At an inpatient setting, automation hasn't really decreased the demand for pharmacists. It actually allowed for pharmacists to take on more important clinical roles.

Choose wisely on where you're going to use your education.

👍👍

 

[bigdogc]

So if in 4 years, it will be a lot harder to open up independent community pharmacy from medicare part D and big businesses like walmart, cvs, walgreens, etc driving competitive prices versus independents. My question is where can an entrepreneur really look? It seems like you can either make decent money working for a giant business, or struggle financially with your own. Will there be an opportunity in the future for independents to compete?

So far I have concluded that niche indepedents and closed-door pharmacies are the only way you can really "make" it on your own. Does anyone have any stories or personal experience with starting a pharmacy up? I would be very interested to hear what you all have to say! 👍

 

[Epic]

So if in 4 years, it will be a lot harder to open up independent community pharmacy from medicare part D and big businesses like walmart, cvs, walgreens, etc driving competitive prices versus independents. My question is where can an entrepreneur really look? It seems like you can either make decent money working for a giant business, or struggle financially with your own. Will there be an opportunity in the future for independents to compete?

So far I have concluded that niche indepedents and closed-door pharmacies are the only way you can really "make" it on your own. Does anyone have any stories or personal experience with starting a pharmacy up? I would be very interested to hear what you all have to say! 👍

I do.

But you're a t-sip... even though you gave the Gig'Em thumb up at the end..

 

[genesis09]

So far I have concluded that niche indepedents and closed-door pharmacies are the only way you can really "make" it on your own. Does anyone have any stories or personal experience with starting a pharmacy up? I would be very interested to hear what you all have to say! 👍

We once had a discussion with a owner of an independent pharmacy in the city of Chicago. She said it is still doable, but you have to have a gimmick. For her, it was ostomy supplies. Durable medical supplies are also popular.
Right now, we're doing the business plan project, and that is a lot of work. I can only imagine what type of work it would take if it was for while.
In Illinois, starting in January, assuming the governor does not veto the new pharmacy practice act, all pharmacists will be allowed to prescribe on protocol. The pharmacist has to have a standing order with the doctor. That could lead to a new niche.

 

[dgroulx]

People go to Walmart for $4 generics and Publix for free antibiotics. I've been thinking and the way to get patients is to offer free Xanax and Ativan (generics of course). These aren't paid for by medicare part D. You could have stipulations that you must fill their other prescriptions, too. In this area, almost all seniors are on benzos and they don't like it that they aren't covered by insurance. None of the chains would have the balls to offer free control meds.😀

 

[MountainPharmD]

People go to Walmart for $4 generics and Publix for free antibiotics. I've been thinking and the way to get patients is to offer free Xanax and Ativan (generics of course). These aren't paid for by medicare part D. You could have stipulations that you must fill their other prescriptions, too. In this area, almost all seniors are on benzos and they don't like it that they aren't covered by insurance. None of the chains would have the balls to offer free control meds.😀

Genius!!! Of course they would also fill their Percocet, Vicodin and Soma, which are all high profit margin drugs. You just may have found the next big idea...👍

 

[WVUPharm2007]

What's sad is that I really don't see this as being all that far fetched.

 

[genesis09]

People go to Walmart for $4 generics and Publix for free antibiotics. I've been thinking and the way to get patients is to offer free Xanax and Ativan (generics of course). These aren't paid for by medicare part D. You could have stipulations that you must fill their other prescriptions, too. In this area, almost all seniors are on benzos and they don't like it that they aren't covered by insurance. None of the chains would have the balls to offer free control meds.😀

I don't know if that is such a good idea. First, you have to have the volume to be able to afford the lost leader, and an independent pharmacy won't have it. Then you might have to worry about the druggies.

 

[ZIESSEN]

I think it is illegal under federal law to advertise sales/give aways on controlled substaces.