As per the latest news aired on CBS News, Walgreens has announced a plan to close 1200 underperforming drug stores possibly over the next 3 years. Walgreens and CVS have felt that users no longer have positive experiences of visiting pharmacies, resulting in minimal consumer spending and fewer reimbursements.
Long queues and the drug stores usually being located at the back of the complete store or in a corner which people usually need to find caused many of the users to shift to platforms like Amazon and Walgreens.
New Plans of pharmacy giants – Walgreens and CVS pharmacy
As per Fiona, a healthcare reporter on Bloomberg, most of the users think of CVS and Walgreens as places where they only need to take prescriptions and get the drugs they have been prescribed. Using this brand voice and impression, they are planning to experiment with mini stores in smaller places along with some store format ones going sidewise. Also, in the case of big store formats, you may have a digital self-check-in, so you can either wait in the car shop around or simply wait in the waiting room until your turn. Once the store assistant is ready to see you, you get a text message on your phone. No lines – no hassle.
Beginning of the change – One of the Walgreens stores in Texas has been reported to have already made some changes by boarding their pharmacy to the front side of their store – this was also done on the feedback of customers.
As per the discussion in the same interview with CBS News, it was added that these giants may move away from their retail routes and invest in different lucrative parts of healthcare, such as primary health centers, and home health. Walgreens would even be investing in clinical trial business.
Do Pharmacy Owners Need to Play Smart?
Indeed. Running just a pharmacy may not be quite viable to stick to. During the current situation of fewer walk-in customers at drug stores and fewer reimbursements, it’s already a time when you need to jump out of the very limited target market (usually a 30-mile radius) and make yourself accessible to all 50 states of the USA. However, big sharks such as Walgreens and CVS pharmacy coming in small areas have given you another reason to play smart and become a durable medical equipment supplier, often known as a DME supplier.
How to become a DME supplier?
We at HelloMDS can help your business transform your business from just a pharmacy to a DME supplier and drug store.
Contact us now to learn more about how you may go about it and thrive even during hard times.
We can guide you through the entire process of becoming a DME supplier, from obtaining accreditation with insurance companies like Medicare, Medicaid, and most commercial insurances, to assisting you with your billing needs.
Get a no-obligation quote today and secure your future by becoming a DME supplier.
References:
https://www.cbsnews.com/news/walgreens-store-closings/
FAQs
How can pharmacies survive in the USA during unfavorable conditions?
Pharmacies can only provide their services within a very limited radius that may vary state-wise (usually around 30 30-mile radius) in the USA. Becoming a DME supplier can let them sell in all 50 states of the USA.
Can DME suppliers sell all over the USA?
Yes, a DME supplier can provide their services in all 50 states of the USA.
Can I become a DME supplier if I have a pharmacy in the USA?
Yes, HelloMDS can help you become a DME supplier. We can enroll you with insurance companies like Medicare, Medicaid, and most commercial insurance.
What is the future of DME suppliers in the USA?
If seen technically, with an increase in population including those getting older, the need for DME is increasing and will continue increasing.
