Value is about how much something is worth, in terms of either cash or importance. In our industry there are a number of different ways to think about value: from the consumer’s eyes; the patient’s eyes; the retailer’s eyes; the brand’s eyes; or the payer’s eyes. Beauty, or in this case value, is in the
Pharmaceutical traceability is here. Are you ready? As an industry we have been working for 10 years to improve the quality and safety of the drug supply chain with the promise that serialization will prevent illegitimate, counterfeit, substandard and unapproved drugs from reaching patients. However, industry reports show that readiness is a mixed bag across
In the business of pharmacy, there is a cost to not having transparency. And there is a cost attached to transparency. The question is which of these is better for you and your customers. It’s an increasingly important question given the growth of health care. The consumer health care industry grew 12% in 2021 while
The definition of population health, as we all think about it, refers to the health status and health outcomes within a group of people rather than considering the health of one person at a time. It often includes an emphasis on primary care, it’s data driven, involves physician leadership, and is focused on disease management.
Even before the pandemic, pharmacies were struggling. Now, the pressures are even greater as demand shifts, digital disruption escalates and the need for health equity is in the spotlight. Access to health care is critical for Americans, and 90% of Americans live within five miles of a pharmacy. While there are some components of health
Health care needs changes. We have been talking about them for years. We all know what they are — better care, lower costs and more accessibility. I find myself thinking that necessity is the mother of invention — or at least the accelerator of change. COVID-19 has spurred an acceleration of innovation and creativity that
For the last 50 years, share of stomach, or food spending, in the U.S. has been steadily shifting from eating at home to eating in restaurants. During the 1960s, less than 30% of domestic food dollars were spent away from home but, now, according to the U.S. Department of Agriculture, the proportion of the family
I had the opportunity to participate in a roundtable discussion — moderated by Chain Drug Review during the most recent NACDS Total Store Expo — that included leaders from across the industry representing chains, wholesalers, pharma and solution providers. It was a thoughtful and far-reaching exchange on a number of important topics, and we spent
The last three years have been very tough for retail pharmacies. Reimbursement rates have declined, formularies are more complex, preferred networks are becoming more aggressive, access to specialty drugs that are driving innovation is still limited, generic drug prices are deflating, and DIR fees are consuming more than 2% of sales revenue. At the same
DIR (direct and indirect remuneration) fees are increasing — creating greater and greater financial challenges for retail pharmacies. In the second quarter of 2018, DIR accounted for 1.13% of sales and, year-to-date, it is trending at 1% of sales. For the same period last year, DIR was running at 0.9% of sales. On top of
