Becker's Healthcare January 27, 2020
More grocery store pharmacies are closing as the healthcare industry consolidates, and retail pharmacy giants like CVS and Walgreens continue to dominate, The Wall Street Journal reported.
Grocery store pharmacies gained popularity in the 1980s and 1990s as they showed easy profits and had relatively low startup costs.
But pharmacies in grocery stores are typically too small to negotiate competitive reimbursement rates on drugs, aren’t connected to big medical networks or payers and typically don’t have walk-in clinics and other services that big retail chains offer.
The number of grocery pharmacies fell in 2017 for the first time in years, going from 9,344 in 2016 to 9.026 in 2017, according to data cited by the Journal.
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