After decades of the number of independent pharmacies shrinking due to closures and buyouts, they are now making a comeback. This is no small feat. Larger pharmacies often have an advantage over the independents because they contract with insurers to handle prescription plans for their health plans through larger PBMs. But despite this advantage, the number of independent pharmacies has been increasing by almost 3 percent each year.
Part of the resurgence could be because of the implementation of the Affordable Care Act. More people have insurance, so they are able to afford prescription medications. Perhaps the most important advantage that an independent pharmacy has over its larger competitors is that they are capable of giving more personalized service to their customers.
For some, developing niches that align with old-fashioned service has been a way to keep people coming back. By offering services such as specialized multi-dose packaging, home delivery or carrying medical devices and home healthcare equipment, independent pharmacies are providing a valuable service to their customers. Read more about how independent pharmacies are staying competitive here.
No matter the size of your pharmacy business, AlphaScrip’s proven partnerships support major chains and independent pharmacies.