Health System Outpatient Pharmacy – Consolidation

ProMedica is a non-profit healthcare system with locations in northwest Ohio and southeast Michigan. As part of its service offerings, ProMedica operated retail pharmacies under the Pharmacy Counter banner in and around Toledo, OH. In September 2017, CVS announced it was acquiring six ProMedica pharmacy locations. They will close five pharmacies and transfer the prescription files to nearby CVS Pharmacy locations. The sixth location will reopen as a CVS Pharmacy in the near future.

Healthcare systems see the value in offering comprehensive services, including outpatient prescriptions to their patients. With declining reimbursement rates, the number of prescriptions needed to profitably operate a pharmacy continues to increase. In situations with a limited patient population, this leads to challenging questions. Do we invest in technology and automation to lower the cost of dispensing a prescription? Are there better opportunities for our healthcare system to spend our limited time and resources?

If your healthcare system operates retail pharmacies and is unsure about sustained profitability and growth in the future, contact Pharmacy Healthcare Solutions, Inc (PHSI). We have helped health care systems conduct a strategic assessment of their retail pharmacy program to answer these critical questions to determine a viable path forward. This assessment evaluates your current situation, project future prescription volume based on improved marketing, and evaluate improvements from investment in automation and technology. PHSI will create an implementation plan and will assist management, when requested, with executing the plan. If the numbers are not promising to create growth and profitability, PHSI can assist in preparing your pharmacy for sale and evaluating offers from potential buyers for your pharmacy locations.

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