Ironically the author (admittedly of a very good summary of today’s issues) is from South University....which I would consider a predatory school.
Many predict that it may take 5-10 years to correct this. First, we need to work on controlling, or abolishing PBMs, that rob us of reimbursements. Apparently, they have been unfairly reimbursing hospitals as well as retail pharmacies. Then we need to get these schools to shut down. Once there is surplus of profit, job creation will follow.
Let me reprioritize that for you:
www.mcknightsseniorliving.com
Your list is not realistic. Closing down schools will take time. Probably years. Fixing reimbursement problem can happen as soon as next year. It's already happening actually in some states. The big showdown would be the Arkansas case in October and if the hearing goes in our favor, laws will be enforced starting next year.
Omnicare layoffs fuel speculation about possible CVS marketplace exit - News - McKnight's Senior Living
CVS Health is proceeding with layoffs that could exceed 700 employees within Omnicare, its long-term care pharmacy business, a source tells McKnight’s Senior Living. CVS confirmed that layoffs will occur, which some see as a sign that Omnicare may be sold. CVS acquired the market’s largest...
Speculation at this point. At least publicly. A friend just told me that he got laid off from Omnicare. He's the one who told me about CVS dropping Omnicare and sent me the article. He was a director at one of the LTC in North Texas branch. I'm gonna say he has more insider information than most people.
It was pharmaceutical care when I was in school
How can we close schools? I've heard that CVS and big corporations fund the opening of schools so they will always have a surplus of pharmacists. I don't remember where I read this and how accurate it is
1. Convince pre-pharms to not apply
I remember that also.
Well, I may have misspoke. I didn't mean they already dropped them but are getting ready to. Like I said on the earlier reply, someone I know was let go from Omnicare and according to him, it was due to CVS wanting to get rid of Omnicare. Inside info so obviously we probably won't hear about it until things are official.
In any organization, middle management (managers, associate directors, directors) are the most expendable positions because you make enough money such that you have a target on your back. The staff pharmacists at the grunt level who are making the least amount of money might not be getting raises and might even be taking annual pay cuts or what have you, but they are the ones "doing the work" so unless that production can be substituted with something else (even cheaper labor, technology etc.) they are safe in times of budget cuts. Middle management, on the other hand, are usually just people managers so they represent fat that can be trimmed - for example in the retail setting combining some variety of the district manager/regional manager/market director positions, or in pharma eliminating some variety of the senior manager/associate director/director positions. It's just that the vast majority of pharmacists have not climbed the corporate ladder and therefore are not privvy to this information because it is not publicized, unlike the stuff that goes on at the ground level. I have noticed though that the new trend is that more and more companies want their management to also be technical as opposed to being a pure people manager - in other words, not only will you manage people but also will be doing individual contributor work.
He got laid off because they shut down the entire operation of the facility I believe.
I thought it was “informatics “ and “consulting”
Yeah even if you stopped schools today from printing pharmDs the level of saturation would take 20 years to balance out. Pharmacy will become like law. The top 30% of pharmacists will have jobs the bottom 70% will work at mcdonalds or some other low paid job. The free market can't support 15,000 new grads a year with only ~4,000 new jobs a year. That is 11,000 permanently unemployed pharmacists.
By that time automation of pharmacy jobs would be implemented full swing
Well if you add automation and Amazon (TM) and Clover (TM) pharmacy the picture becomes even bleaker for the pharmacist. Perhaps only 15% have jobs working as automation pharmacists for the machines.
Yeah, I agree. Not just Amazon, but even CVS and Walgreens are experimenting with automation
The retirement rate is nowhere near 5% or 16,000 a year. You have to think about how many pharmacists were being printed 65 years ago that would be retiring today. That number is very small relative to 16,000.
