Our company has worked with pharmacies for over a half century, and we are putting together some projections of where we think the future of pharmacy may go in the next half century. We would like your input in preparing a “look into the future” of what the independent pharmacy will become in the years ahead.
Where do you think the direction of pharmacies will go in the next 10-50 years?
What role will they serve in our communities?
Consumers have been quick to adopt retail pharmacies as their neighborhood sources for their daily healthcare needs, flu shots and supplements. Research suggests they would embrace more services if offered. (* PwC Health Institute,)
The total number of prescriptions filled annually in the US is likely to continue rising from 4.13 billion currently, to more than 4.58 billion by 2024. (*Statista)
Changes in Revenue Streams: Insurance PBM’s and anemic reimbursements are forcing retail pharmacies to look for new sources of revenue.
Technology & Data Integration: Through tele/video health applications, mobile app’s and wearable monitoring devices, could the future pharmacy’s role be to help customers make more healthy, informed choices in all facets of their lives? Could they partner with patient’s primary providers in monitoring these choices? A.I. portals? (ie; IBM-Watson)
Coffee Klatch: We have been through putting in and taking out soda fountains and lunch counters. With the popularity of Starbucks, juice bars, and other specialty teas & tonics; do you think there’s room for the modern day “soda fountain” to come back full circle?
We think the years to come for the modern day pharmacy will be an exciting time of change. Retail pharmacies have the chance to redefine themselves, seizing a new, more central role as key players and partners in the new health care economy.
Let us know your thoughts and we’ll publish our findings in an upcoming Blog post.
