Independent pharmacy market faces challenges, stores closing across the country

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In 2023, about one independent pharmacy closed every day, and similar numbers are expected for this year according to the National Community Pharmacists Association.

Independent pharmacies are closing across the country, making it harder for people to access potentially important medications. Today, 46% of U.S. counties are considered pharmacy deserts, meaning people have to drive more than 15 minutes to reach the nearest pharmacy from their homes, according to GoodRx Health. The farther away a pharmacy is from where someone lives, the less access they have to affordable, in-stock medications, and it can be harder for a doctor to refill a prescription.

Independent community pharmacies, we have already been tracking that ourselves. But that paired now with these larger chains especially- it's really harmful for communities. It's expanding pharmacy deserts at a rapid pace," Pagniano said. Pagniano said most of the independent pharmacies are struggling due to the need for PBM reforms and better reimbursement rates but some are still struggling to fill open positions in their pharmacies as well.

According to one industry group, independent pharmacies make up nearly 40% of all pharmacies in America.

 

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