![]() ![]() They are not destinations or places where people go out of anything other than necessity,” Saunders said.ĬVS shares jumped 1% early trading. “Too many stores are stuck in the past with bad lighting, depressing interiors, messy merchandising, and a weak assortment of products. Neil Saunders, retail industry analyst and managing director of GlobalData, said in a note to investors that the closures are the result of CVS having “too many overlapping locations” and the dilapidated state of its stores that has “pushed some of them into the downward spiral of irrelevance.” Affected employees will be offered jobs at nearby locations. The closures will cost the company about $1 billion dollars in the fourth quarter of 2021. “We remain focused on the competitive advantage provided by our presence in thousands of communities across the country, which complements our rapidly expanding digital presence,” said CVS CEO Karen Lynch. That includes remodeling some stores to include more health services, such as primary care, and an “enhanced version” of its HealthHub layout. The closures are part of broader realignment of its retail strategy of its roughly 10,000 locations. The drug store chain said Thursday that the closures will result in a retail presence that ensures it has the “right kinds of stores in the right locations for consumers and for the business.” A list of locations shutting down, which will happen beginning next spring, was not immediately released. Now we show them why Blueberry Pharmacy is the best choice! What I didn’t know until just now is that the full Oscar Wilde quote is “imitation is the sincerest form of flattery that mediocrity can pay to greatness.” Our goal is to provide the best care at affordable prices.CVS Health is closing 900 stores over the next three years, amounting to nearly 10% of its footprint, in response to the changing of “consumer buying patterns.” Exposure - Millions more patients and physicians now know what cost-plus means. Now the challenge is reshaping this move towards our vision so that affordable care is WITHIN every community (not shipped from California on a 737 and delivered by FedEx 5 days later).ĥ. If I zoom out, this is a MASSIVE win towards moving the needle on transparency. A win for our mission - One thing I’ve kept reminding myself throughout this week is our mission: To accelerate the transition to fair and transparent pricing throughout healthcare. The same is true for interactions within the healthcare team.Ĥ. When we call a pharmacy, we want to talk to humans. However, patients I talk to on a regular basis still desire human interaction in healthcare. Many in business want to consumerize healthcare as much as possible, making everything purely a retail transaction. Not to mention the environmental costs of this.ģ. It’s hard for me to imagine a future where it is “cheaper” to have drugs that cost $3.79 (average cost of 30ct across all of Blueberry Pharmacy’s inventory) flown across the US. ![]() Proximity matters- a pharmacy in a community will always have a competitive advantage over one located 2,581 miles away.A driver focused too much on the rear view mirror is bound to hit something ahead of them. We need to continue looking forward, always innovating. Focus less on competitors - we blazed this path.I sat with it over the weekend, and here is my answer: “How can we turn this problem into an opportunity?” he challenged. It really hurts.Ī friend, coach, and now-coworker (keep a watch out for this announcement - big deal!) encouraged me to reflect on this news. And then a billionaire, aided by someone who I can’t help but think learned a thing or two from our conversation a year ago, launches a similar pharmacy to national applause. I’ve spent the last two years, 6-days-a-week, time away from family, head down, financially-committed to forging a new path for pharmacy. Every news outlet took on the story as though it was the first of its kind, revolutionary, visionary…life-saving.Īnd if I’m being honest, I’ve been downtrodden most of this week. ![]() It took another month or two to actually launch, and to fairly little fanfare…and then this past week happened. Having a US-based manufacturing facility that fairly priced drugs seemed right in line with our model, so I openly shared our model.įast forward to 3 months ago and the MCCPDC announced the launch of their directly-competing, cost-plus online pharmacy. At the time, they were just going to be a drug manufacturer offering transparent prices to pharmacies for the drugs they made. ![]()
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