NCPA Digest Finds Independent Community Pharmacies Stable Despite Economic, Third-Party Challenges
PHILADELPHIA, Oct. 25 /PRNewswire-USNewswire/ -- The National Community Pharmacists Association (NCPA) today announced the availability of the 2010 NCPA Digest, sponsored by Cardinal Health, which found that independent community pharmacy owners were able to generally stabilize their business in 2009 despite a stagnant economy, the growing influence of government health care programs, declining prescription drug reimbursements and the questionable business practices of pharmacy benefit managers (PBMs).
"The NCPA Digest findings demonstrate that an independent community pharmacy business model that is adaptable, yet rooted in sterling customer service and competitive pricing, has a viable place in today's marketplace," said Douglas Hoey, RPh, NCPA Acting Executive Vice President and CEO. "Independents helped their patients and their businesses by diversifying their revenue streams through providing convenient patient services, such as immunizations, and helping patients manage their prescription costs and medication regimen in a down economy."
Hoey added, "As a result, after a sharp drop in the number of pharmacies in 2006 when Medicare Part D went into effect, the number of independents has generally stabilized and grew modestly."
Now in its 78th year, the NCPA Digest provides a comprehensive analysis of independent community pharmacies' financial state. Noteworthy findings include:
- The number of total independent community pharmacies rose from 22,728 in the previous year to 23,117.
- 51% of independent community pharmacies are in areas of 20,000
people or less, 21% in areas with 20,000 to 50,000 pe