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Thread: Say goodbye to private pharmacies in usa

  1. #1
    Join Date
    Mar 2008
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    new york city burbs
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    Say goodbye to private pharmacies in usa

    first off, just let me say this isn't politically motivated, just an observation.
    second, I worked in a private pharmacy for 33 years, owned it for most of those.
    We were a small community pharmacy, had our own little niche, catered to what the locals wanted, and I have no complaints about my run in that business.


    I now have coverage on my wifes medical plan.
    Its a solid plan, what I always considered a top plan.

    I went in yesterday, first time this year for my monthly prescriptions.

    My first drug, one for diabetes, for a 90 day supply(the insurance company lets me get 90 day supply of drugs, has a slightly less copay for me) the cost of the drug was a bit over 800 dollars to the pharmacy, with his fee, he lost almost 2 dollars dispensing it to me.
    My second drug, for cholesterol, another 90 day supply, and another drug close to 900 dollars, he lost a dollar on it.
    My third drug I got yesterday, for hypertension, a very mild dose, cheapest generic drug, another 90 days supply, the copay was 2.82, and the last time I got it was 5.00
    2.82 was the total the pharmacy collected. this includes the fee, the cost of drug, and the electronic processing fee, cost of vial, label, etc....
    Maybe he profited 1.00 or so.

    Pharmacists earn 45-60 dollars an hour.

    Rents are ridiculous, and top that off with liability insurance, electric, blah blah blah, this is the end of private pharmacy.

    It might be the only business on earth that is expected to purchase goods for 1000 dollars and not make a profit on it.

    The doors will be closing soon on whatever privates are left.

    If they don't own their real estate, none will make it.
    Human Test Dummy

  2. #2
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    Dec 2006
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    So the big chains use their buying power to get cheaper prices on drugs? The big Walgreens, CVS, RiteAid types also sell a huge variety of other merchandise that may offset low drug profits. I have all three within a few miles and their parking lots always have lots of cars in them. Probably another reason an independent can't compete.

  3. #3
    Join Date
    May 2007
    Location
    Kansas City, Missouri
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    13,451
    I'm just waiting for Amazon to start doing pharmacy and get free shipping to my door so that I can put all those chains out of business.

    I've had a small hardware store about a mile from my house that I had often overlooked and drove the 4 miles to lowes instead. I've started going to them first and getting what I can. I just did a google and not even an individual pharmacy in our area, closest is 16 miles away in a small town south of us, the rest are either at the grocery stores or chains.
    Darren

    To a small child, the perfect granddad is unafraid of big dogs and fierce storms but absolutely terrified of the word “boo.” – Robert Brault

  4. #4
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    new york city burbs
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    the big chains own their own insurance companies, they handle payment for a lot of plans. they set the prices.
    and yep, they keep themselves in business with all the over the counter sales.

    they open many stores in NY in the same zipcode, sometimes 2-4 stores, looking to knock out all the competition, then I guess eventually they will close one or two of them.

    my wife and I go to pt pleasant NJ each year during the winter months. We love the beach in the middle of the winter. Just for a walk, a day out of thehouse.

    when you drive down the main drag into Pt Pleasant, NJ there is a huge chain pharmacy, fairly new. 2 blocks away, the same chain has an older store. Last winter in the middle of a snowstorm, cold weather, we walked into the older chain and there was one kid working this huge store.
    I asked him why does his company keep this one open when there is a newer larger one a block away.
    He told me they don't want to the competition to rent this space and open a store, so its worth it to them to keep both of them open.
    Human Test Dummy

  5. #5
    Join Date
    Dec 2006
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    Yorktown, Virginia
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    You know, if they added gas pumps they would put serious pressure on all the Quick Stop's, 7-11's and WaWa's. Our Farm Fresh grocery store added gas pumps. Now by shopping at Farm Fresh gets you discount points on their gas. If the grocery stores can do it, can the big drug stores be far behind?

  6. #6
    Join Date
    Jun 2008
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    Well Ted in July in Canada the big grocery chain Loblaw just bought one of the largest drug store chains Shoppers Drug Mart. The only grocery group (if you can call them that) that has all three covered is Costco in Canada. They have pharmacy, optical, gasoline, cigarettes, propane and normal groceries that Costco stocks all covered. Only vice they missing is the beer and wine and liquor but in Ontario that aint gonna change until we have a revolution against gouging.
    cheers

  7. #7
    Join Date
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    somewhere east of Queen Creek, AZ - South East of Phoenix
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    Quote Originally Posted by Rob Keeble View Post
    Well Ted in July in Canada the big grocery chain Loblaw just bought one of the largest drug store chains Shoppers Drug Mart. The only grocery group (if you can call them that) that has all three covered is Costco in Canada. They have pharmacy, optical, gasoline, cigarettes, propane and normal groceries that Costco stocks all covered. Only vice they missing is the beer and wine and liquor but in Ontario that aint gonna change until we have a revolution against gouging.
    well here in Arizona they sell booze also so they gt em all covered. Heck they even sell caskets.
    "There’s a lot of work being done today that doesn’t have any soul in it. The technique may be the utmost perfection, yet it is lifeless. It doesn’t have a soul. I hope my furniture has a soul to it." - Sam Maloof
    The Pessimist complains about the wind; The Optimist expects it to change;The Realist adjusts the sails.~ William Arthur Ward

  8. #8
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    No, not all of SoCal is Los Angeles!
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    Quote Originally Posted by Don Baer View Post
    well here in Arizona they sell booze also so they gt em all covered. Heck they even sell caskets.
    I wonder if the ones in Vegas have slots?
    Any sufficiently advanced technology is indistinguishable from magic.
    - Arthur C. Clarke

  9. #9
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    Dec 2007
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    My cousin is a pharmacist. He is the District Manager for RiteAid in Los Angeles with over 20 pharmacy stores under him. He always tells me that independent pharmacy business is very profitable in Los Angeles. I also know a couple who run their own pharmacy in the greater SoCal and they are doing good too.
    Chinese Proverb: Man who eats many prunes gets good run for the money.

  10. #10
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    Quote Originally Posted by Rob Keeble View Post
    ... the big grocery chain Loblaw ...
    My first paying job was with Loblaws in Syracuse NY. Worked there from the time I was 16 until I graduated from college. That job paid my tuition. I recall those times fondly. I can still bag and run a register faster than the kids at our market....maybe that could be my retirement job!

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