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The 2018 NCPA Digest revealed that 92% of revenue for independents comes from prescription drugs, but margins are hampered by low reimbursement rates.
The 10-year trends show that, since the Medicare Part D prescription drug benefit was introduced, pharmacists’ gross margins have declined steadily. In 2017, 36% of prescriptions in independents were covered by Medicare Part D, and 17% by Medicaid; more than half of independent volumes are now paid by a government program. Most of the Affordable Care Act came into effect during this time as well.
Pharmacists have cut payroll to help fill in the lost revenue, but it isn’t enough.
Podcast: Discussing the Shared Central Fulfillment Solution with iA
May 6th 2024Brian Nowosielski, associate editor with Drug Topics, sat down with Tom Utech and Reed Richardson of iA, an innovative pharmacy fulfillment company. Utech, CEO of iA, and Richardson, Chief Commercial Officer of iA, discussed the company's new shared central fulfillment solution. The new solution, designed to streamline processes within the pharmacy, is a technological innovation with life-saving benefits for patients.