Becker's Healthcare December 18, 2024
Hundreds of pharmacies are permanently closing their doors as consumer trends change and businesses succumb to financial pressures.
Before 2018, more pharmacies were opening than closing in the United States. Then, mergers between large pharmacy chains and pharmacy benefit managers influenced patients to switch from independent locations to PBM-preferred pharmacy networks, according to a recent study.
One in 3 pharmacies closed between 2010 and 2021, and large retailers — CVS, Walgreens and Rite Aid — plan to shutter hundreds more.
Financial burdens are spurring these closures. Many pharmacies, particularly those that are independent, are facing lower reimbursement rates for prescription fills. Both independent and retail locations are also losing profit from products near the front of the...
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