Will convenience pharmacies become extinct?

[rxstudent2013]

Advertisement - Members don't see this ad

What does everyone see as the long-term outlook for pharmacies in grocery stores, Wal-Marts, Targets, and Costcos? With the declining reimbursement happening today, will companies eliminate these "convenience" pharmacies because they are costing them large amounts of money? I know many grocery pharmacies currently operate at a loss overall compared to the rest of the store. What would happen to all these pharmacists? Would it be better to work for a larger chain such as CVS, since their main business is pharmacy?

 

[Notecard]

Grocery stores have pharmacies to bring in people to buy their groceries. Even if the pharmacy is operating at a small loss (which I don't even know of any that are where I live), it will make the store busier.

I'd try very hard to work in a grocery store before CVS or Walgreens. Similar pay with less work and less corporate BS? Who wouldn't, just do your research and pick a grocery store chain that is doing well.

 

[BenJammin]

You ask this question as Walmart is about to open several hundred Walgreens-like stores lol

 

[zelman]

Would it be better to work for a larger chain such as CVS, since their main business is pharmacy?

Depends on what you want. Do you want your store's profitability resting on your shoulders? Or would you rather do your thing in the shadowy corner and be mostly ignored?

 

[grumps]

Grocery chains are the weakest hands in the game. If you work in one by no means save in their ESOP. Grocery chains come and go. Even the empires of Wags and CVS and Walmart will fall once interest rates normalize. The availability of cheap money has prolonged the pharmacy giants enabling stock buybacks to hide the catabolism of their real world ops. Alot of our way-of-life will never be the same again. None of this has hit the Western media, but the Cyprus depositor bail-in was retaliation against moves by Russia and China to set up an alternate trade settlement system with gold at the core. Word is $7000/oz will be the initial price once the system is up and running. The US will be cut out of the loop.

 

[konkan]

Grocery chains are the weakest hands in the game. If you work in one by no means save in their ESOP. Grocery chains come and go. Even the empires of Wags and CVS and Walmart will fall once interest rates normalize. The availability of cheap money has prolonged the pharmacy giants enabling stock buybacks to hide the catabolism of their real world ops. Alot of our way-of-life will never be the same again. None of this has hit the Western media, but the Cyprus depositor bail-in was retaliation against moves by Russia and China to set up an alternate trade settlement system with gold at the core. Word is $7000/oz will be the initial price once the system is up and running. The US will be cut out of the loop.

Interesting. Where did you get info about Cyprus, Russia and all?

 

[iamaninja]

You ask this question as Walmart is about to open several hundred Walgreens-like stores lol

Walmart is opening stand alone pharmacies? Will these be mini-walmarts, and be competing head to head with the other big chains?

 

[iamaninja]

Ok just did a little research, Walmart expresses are being roleld out. Guess this is good for Pharmacists in that there are more jobs but in the long run who knows, Walmart is a savage beast.

 

[GreyFox2002]

Most of the pharmacies in my grocery chain do 800-1500/Rx's per week. While it might be a little less then a busy cvs/Walgreens, it's enough to maintain a profit and build store customer loyalty. My chain has put a ton of money into pharmacy and it's paying dividends.

 

[Digsbe]

I don't they will go extinct. Pharmacies will just see a higher volume with a lower reimbursement rate. Essentially, more work and volume with no increase in revenue.

 

[SoylentGreen]

I don't see why pharmacies located in grocery stores or big box stores would be any more vulnerable than any other retail pharmacy. In fact, they should be less vulnerable, because they are not totally dependent on the pharmacy - they can use it as a loss leader, if the losses aren't too great.

Retail is obviously not going away because there are too many scripts that can't wait for mail order, and too many things that can't be done remotely, like immunizations.

But some weaker stores/chains might go under.