Chain Drug Review, January 10, 2017
Chain Drug Review’s annual “Retail Outlook” feature includes insights from Bob Mauch Executive Vice President at AmerisourceBergen and President of AmerisourceBergen Drug Corp, as well as Brian Nightengale, President, Good Neighbor Pharmacy©. The article takes a look at the changing healthcare landscape – with particular emphasis on what the new administration could mean for pharmacists – as well as how pharmacies can continue to grow throughout 2017 and beyond.
At the same time, retailers in the U.S. and Canada are readying for changes from economic and social shifts outside the political sphere. The movement toward self-care, plus the pressure to contain health care costs, is reinforcing the value of pharmacy’s ability to improve outcomes through accessible and affordable care. But pharmacy operators must also continue to deal with the squeeze on the business from ever-diminishing third-party prescription reimbursements.
Demographic changes and an uneven economic recovery will have their own part to play in the industry’s performance during 2017. The ability to meet the needs of a budget-conscious, increasingly multicultural population and increasing numbers of seniors will go a long way toward determining chains’ results this year.
Here’s a sample of what some chain drug and pharmacy industry executives had to say about the prospects for their businesses and for the sector as a whole in the year ahead.
Growing the Business
“It’s certainly not business as usual for pharmacists – their time is more valuable than ever, as they juggle their expanding role in a patient’s health care journey with the business side of maintaining a successful pharmacy. Pharmacies need strong partners who can provide them with the services and expertise they need to diversify and grow their businesses while ensuring patients receive the high-quality care they deserve.”
Robert Mauch, Executive Vice President at AmerisourceBergen and President of AmerisourceBergen Drug Corp
“From health care reform on Capitol Hill to payment models shifting from fee-for-service to outcomes-based reimbursement, to an evolving patient experience, the health care market is facing myriad changes. For pharmacies to compete and grow in this dynamic environment, they will need to innovate, diversify their businesses and expand the clinical services they offer. AmerisourceBergen and Good Neighbor Pharmacy are innovating with our pharmacy partners to continue to position them to be valued, differentiated and vital members of the health care team.”
Brian Nightengale, President, Good Neighbor Pharmacy
Full article available here.
