June 25, 2014
About 23,000 independent pharmacies are in business today. Despite pressure from mail order, third party reimbursements and brick-and-mortar competition, that number hasn’t changed significantly in recent years. What is changing is how independents do business. Take a look at the trends in independent pharmacy today and see how your pharmacy compares.
The majority of independent pharmacy owners have one location.
More than half of independent pharmacies are located in small communities with populations of less than 20,000.
Seven out of ten independent pharmacists identify reimbursement and third party pressure as their biggest challenge.
About 40 percent of pharmacies are offering compliance packaging or synchronized refills.
The average independent pharmacy is open six days a week and 55 hours per week.
At just above 60 percent, immunizations are one of the most common services offered by independent pharmacies, followed by blood pressure monitoring (57 percent) and diabetes training (39 percent).
Independent pharmacies are getting social. About two-thirds (66 percent) use Facebook for their businesses. Only 12 percent use Twitter and 9 percent use Google+.
Average annual sales per pharmacy location were $3,854,158 in 2012.
About 66 percent of pharmacies have a store website and 63 percent of those websites include an option for patients to submit refill requests.
Pharmacies receive 30 percent of their prescriptions electronically. This is up from 2012 when about 24 percent of prescriptions were e-prescriptions.
Sources: 2013 NCPA Digest; Independent Pharmacy Shoppers: Who, What, and Why?, a study by HDMA and Hamacher Resource Group