Community Pharmacies Must Diversify Their Revenue Streams to Survive in Today’s Landscape

Drug Topics November 19, 2024
Killian Meara

Drug Topics talked with Kelly Malkamaki, pharmacist, former independent community pharmacy owner, and senior product pharmacy analyst at AssureCare, about how community pharmacies can continue to thrive with decreased medication reimbursement rates.

Community pharmacies have been dealing with a variety of financial pressures that have led to decreased profit margins. According to data from the 2024 NCPA Digest, gross profit margins fell to 19.7% this year for pharmacies, the lowest point in the report’s 10-year lookback window.¹ A key reason for this decrease is low medication reimbursement rates by third-party payers.

Although dispensing prescription medications is a primary income source for most community pharmacies, the continued decrease in reimbursement rates necessitates a move towards other ways to increase the bottom...

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