Community Pharmacy Must Diversify to Stay Alive

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The following was provided by the National Community Pharmacists Association:

In an article for Cardinal Health, NCPA CEO Doug Hoey analyzes the results found in the 2017 NCPA Digest sponsored by Cardinal Health. Independent community pharmacies treat patients like family, promote safe and effective medication use, and actively participate in community life, but they must adapt to changing times. Decreasing prescription volume and declining prescription drug reimbursement reflect a changing marketplace to which community pharmacy owners must adjust their business model. Now, more than ever, community pharmacy owners should consider any and all options to diversify their revenue while continuing to focus on evaluating the economics of third-party reimbursements. Read the article to see ways some pharmacists are adding services to diversify their income.

NCPA members got early access to the Digest at the NCPA Annual Convention in October. NCPA members can access a copy at www.ncpanet.org/digest using their NCPA ID and password.

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