Independent community pharmacies remain a major segment of pharmacy – an $81.5 billion marketplace. These pharmacies represent nearly 40 percent of U.S. retail pharmacies. In total, they number 22,160, including single-store pharmacies, family-run regional chain pharmacies and individually owned and operated franchisees.
More than 250,000 individuals are employed on a full or part-time basis by these pharmacies, bolstering state and local economies and tax revenue. Prescription drugs are their focal point, representing 92 percent of total sales revenue.
It’s noteworthy how many independent community pharmacies care for underserved populations. Eighty-two percent of independent community pharmacies are in population areas of 50,000 or less.
Here’s what the average independent community pharmacy looks like:
- 60,493 prescriptions dispensed annually.
- 82 percent of prescriptions are filled with generic drugs.
- Most prescriptions (52 percent) are covered by government programs (Medicare, Medicaid, etc.) with third-party insurance comprising nearly all of the remainder (39 percent).
- $11.21 average cost of dispensing per prescription.
- Their pharmacists play an active role in prescription drug decisions, counseling physicians on average 9.7 times each day. Community pharmacists’ generic product recommendations are accepted by doctors 95 percent of the time.
- An average of 9.4 full-time employees.