Retail Community Pharmacies: Adapting and Innovating to Succeed in a Turbulent Marketplace

Interior of Pharmacy Circa 1950

The pharmacy industry is evolving, fueled by major changes in the healthcare environment, including value-based reimbursement, the impending physician shortage, demand for better patient outcomes, rising cost of prescription drugs, rapid increase in the incidence of chronic diseases, and more.

This Industry Insight Report focuses on retail community pharmacies (independent pharmacies, chain drugstores, and pharmacies in supermarkets and mass merchants), diving into five major challenges:  

  • Industry consolidation: Experts discuss what’s driving the mergers and acquisitions in the industry, and what retail community pharmacies need to do to remain competitive.
  • Specialty pharmacy market growth: Experts give advice for pharmacies thinking about expanding into the specialty pharmacy market.
  • Technology choices: The report discusses how technology can help reduce dispensing errors and improve medication adherence.
  • Provider status: Some traction has been made recently on Capitol Hill to move this big hurdle that pharmacists have been trying to overcome for years.
  • Collaborative practice agreements: Experts give tips on developing relationships to obtain collaborative practice agreements – the “Holy Grail of clinical services in the community pharmacy.”

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