CVS Health released "The Rx Report: The future of community pharmacy opens doors to healthier communities," which outlines the evolution of consumers' expectations of community pharmacy and how local pharmacies continue to add value to the healthcare system, especially for vulnerable populations, to help close gaps in care.
The report also highlights the critical need for sustainable and scalable industry-wide change, such as operational improvements and digital innovations to better support pharmacy teams behind the counter as well as the need to inspire more to choose a career in community pharmacy, as pharmacy college enrollment rates steadily decline.
"Following the COVID-19 pandemic, patients continue to turn to local pharmacies more frequently for healthcare services, because of their convenience and the growing trust they have in their pharmacy teams," said Prem Shah, executive vice president, chief pharmacy officer, and president of Pharmacy and Consumer Wellness at CVS Health. "To continue to meet growing patient needs, we must evolve how community pharmacy works and, most importantly, how we support our pharmacy teams to create a sustainable future for community pharmacy."
In addition, The Rx Report explores how other key changes to the current pharmacy model may also be needed to address growing pressures on the industry. This includes a recently announced pharmacy reimbursement model that will shift how CVS Pharmacy is compensated by aligning reimbursement to the quality services provided and prescriptions dispensed. Together, these important changes will help create a more durable business model, the company said.
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