Pharmacy News Round Up
Consumer Care and Cost Trends Survey, DSCSA Integration Partners, Guardian Pharmacy Expands and More...
Wolters Kluwer’s Pharmacy Next Survey Shows 58% of Americans Likely to First Seek Non-emergency Healthcare at Pharmacies
The days of patients receiving all medical care at a hospital or physician’s office are over, and a new survey, commissioned by Wolters Kluwer Health, shows the shift is due to growing trust in providers in non-traditional primary care settings driven by a desire for more convenient and affordable care. The second Pharmacy Next: Consumer Care and Cost Trends survey data also show generational trends that suggest this shift in the healthcare ecosystem is permanent and will change how all stakeholders approach care delivery in the coming years.
“As we saw in last year’s survey, primary care decentralization is continuing – the traditional one doctor-one patient, single point of coordination is vanishing, and this is especially evident in younger generations,” said Peter Bonis, MD, Chief Medical Officer, Wolters Kluwer Health. “By preparing for this shift today, providers can work in concert across care sites to deliver the best care to patients. Likewise, newer care delivery models, like retail pharmacies and clinics, can ensure they’re ready to meet the expectations of healthcare consumers, who will increasingly be turning to them for a growing range of care needs.”
Care is rapidly decentralizing, and Gen Z and Millennial consumers are leading the way
Pharmacies are becoming a front-line site for non-emergency care, particularly among younger generations. This shift is still confined mostly to retail pharmacy, versus emerging care sites such as health clinics in department stores, such as Walmart or Target, with 80% of consumers saying they would probably never go to a department store for healthcare. The survey also found consumers will go to different care sites depending on the services they need.
Key data findings include:
First stop, the pharmacy: 58% of Americans are likely to visit a local pharmacy as a first step when faced with a non-emergency medical issue. 81% say they trust a pharmacist, nurse, or nurse practitioner to diagnose minor illnesses and prescribe medications to treat them.
Generational divide: More than half of Gen Z and Millennials (56% and 54%) have visited a local pharmacy to receive care in the past year, compared to 40% of Gen X and 35% of Boomers.
Department store trust deficit: 79% of Americans trust their local pharmacy to provide care more than clinic staff at department stores.
Vaccination variations: 54% of Americans would go to a traditional physician’s office only for vaccinations for children, but for flu shots and other vaccinations for adults, over three in five (62%) would go to a local pharmacy.
Consumer trust juggles convenience, credentials, and health record access assumptions
As consumers entrust care to alternative settings, some are less likely to focus on provider qualifications and many assume pharmacists are already familiar with their medical history. Given that the sharing of patient health records between care sites is still not standardized or coordinated, this assumption comes with risk – consumers must play a more active role in sharing their histories. Convenience is also important, and in non-emergency situations, this can trump concerns around medical qualifications, especially for younger consumers.
Records check? 67% believe pharmacists check medical records and/or information about a patient before filling a prescription more than half the time.
Convenience vs credentials: When asked what’s most important in a non-emergency situation, one in three Americans (33%) said convenience over the credentials and/or qualifications of the person providing their care. Less than one quarter (23%) of Boomers agreed.
Prescription prices and availability still weigh heavily on consumers
The overall cost of healthcare is increasing, both for medications and care interactions. The survey findings show that consumers are still struggling to keep up with prescription prices, which, in many cases, is causing them to skip their medications. They are looking to their pharmacists and clinicians to advise them on lower cost options. As an alternative, consumers are cautiously eyeing new options for receiving medications, but concerns about using these options still exist.
Too “Rx-pensive”? 37% of Americans chose not to fill a prescription because of cost.
Over-the-counter advantages: More than three-quarters (76%) say many widely used safer prescription drugs should be made available over the counter (OTC). 74% say this would help lower costs without compromising safety.
Conversations about costs: 86% would receive generic medications if it meant saving money, and 92% feel their physician and their pharmacist should inform them of these alternatives. In the past few months, over one-third (36%) have talked with their pharmacist about affording their medications or if other options are available.
Mail-order med worries: 67% prefer prescriptions via mail and/or a subscription service like Amazon Pharmacy if it means lower costs, but more than half are concerned about tampering (54%) and having unexpected interactions between medications they received via mail/subscription service and other medications they are taking (52%).
To learn more, download the Pharmacy Next: Consumer Care and Cost Trends executive brief.
The survey included 1,017 U.S. adults, 18 and older, and is weighed by age, gender, household income, and education to be representative of the total U.S. population according to the U.S. Census Bureau. The survey was conducted online between March 15-21, 2023.
Wolters Kluwer Health provides trusted clinical technology and evidence-based solutions that engage clinicians, patients, researchers and students in effective decision-making and outcomes across healthcare. The division of Wolters Kluwer supports clinical effectiveness, learning and research, clinical surveillance and compliance, as well as data solutions.
RedSail Technologies® and InfiniTrak Collaborate to Deliver Comprehensive DSCSA Solution to RedSail Pharmacy Network
RedSail Technologies is pleased to announce an exciting partnership with InfiniTrak, a leading provider of track and trace compliance solutions, to deliver a fully integrated Drug Supply Chain Security Act (DSCSA) solution to the esteemed RedSail network of pharmacies.
InfiniTrak's cutting-edge platform empowers pharmacies to achieve full compliance with the DSCSA in a streamlined and user-friendly manner, seamlessly integrated with their existing pharmacy management system. This comprehensive compliance solution ensures that dispensers are well-equipped to navigate all aspects of the DSCSA law, including the upcoming final phase of interoperability.
"RedSail Technologies is dedicated to equipping our pharmacies with the finest tools to optimize their operations," stated Jeff Key, Chief Commercial Officer of RedSail Technologies and President of PioneerRx. "The InfiniTrak solution exceeds expectations in terms of providing the necessary tools for full DSCSA compliance."
The primary objective of the DSCSA is to safeguard the U.S. drug supply chain from counterfeit or hazardous drugs by implementing robust tracking and tracing capabilities across the entire lifecycle of prescription drugs, from manufacturing to pharmacy dispensing.
Sam Pizzo, Senior Vice President of Strategic Alliances at InfiniTrak, expressed enthusiasm about providing their advanced compliance technology to the nation's largest independent pharmacy network, thereby introducing a new level of automation to the compliance landscape. Pizzo commented, "RedSail has always been a top priority for our integration efforts, as our companies' superior technologies combine to offer a comprehensive solution tailored for the pharmacy market."
Key emphasized the importance of selecting a solution that minimizes the burden on pharmacies. "Our collaboration with InfiniTrak perfectly aligns with our network's needs, providing a turn-key solution that relieves RedSail customers of the complexities associated with DSCSA compliance and the impending interoperability mandate," added Key.
Pizzo concurred, highlighting InfiniTrak's unwavering commitment to simplifying compliance processes. The partnership with RedSail is viewed as a significant stride toward achieving complete automation. Pizzo stated, "By simplifying total compliance for every pharmacy, we enable them to focus more time on their core business and patients."
Omnicell Appoints Nchacha E. Etta as Executive Vice President and Chief Financial Officer
Seasoned Leader Brings Over Two Decades of Finance and Accounting Experience to Omnicell
Omnicell, Inc., a leader in transforming the pharmacy care delivery model, announced that Nchacha E. Etta has been appointed Executive Vice President and Chief Financial Officer of the Company, effective June 1, 2023. Mr. Etta succeeds Peter J. Kuipers, who, as previously announced, will be stepping down from his role as Executive Vice President and Chief Financial Officer. Mr. Kuipers will remain with the Company through July 1, 2023, to help ensure a smooth transition of responsibilities.
Mr. Etta is a seasoned finance and accounting executive with more than 20 years of experience leading and working in global finance organizations across healthcare and consumer products industries. He most recently served as Chief Financial Officer of Essilor of America, Inc., a subsidiary of EssilorLuxottica SA, where he developed and executed long-range financial and commercial strategy. Prior to his role at Essilor of America, Mr. Etta served as the Worldwide Vice President and Chief Financial Officer of Johnson & Johnson Vision, where he led finance operations with a 250-person global team. He has also served in a number of financial roles of increasing responsibility at The Coca-Cola Company, Microsoft Corporation and Eli Lilly and Company.
“We are very pleased to welcome Nchacha to the Omnicell team and we look forward to benefiting from his finance and accounting expertise as well as the broader leadership experience he brings to our organization,” said Randall Lipps, chairman, president, chief executive officer, and founder of Omnicell. “Nchacha is a commercially focused and collaborative leader who not only has a proven track record of delivering strong financial and operating results but also shares our passion for improving patients’ health. We believe his skillsets and insights will be incredibly valuable as we continue to focus on realizing the benefits of our recent acquisitions, strengthening our operational efficiencies and building on the momentum underway. I look forward to working closely with him as we continue to strive to deliver value for our stockholders, our employees, our healthcare partners and their patients.”
“Omnicell is a category creator that is working to transform the pharmacy care delivery model, and I am honored to join the team in an effort to leverage my expertise to help drive the Company’s strategy forward,” said Mr. Etta. “Omnicell’s mission is one that I deeply believe in, and I look forward to collaborating with Randall and the entire management team as we seek to capture the potential opportunities that lie ahead and drive long-term value creation.”
About Nchacha E. Etta
Mr. Etta most recently served as Chief Financial Officer of Essilor of America, Inc., a subsidiary of EssilorLuxottica, a global leader in ophthalmic products, where he was responsible for leading all aspects of financial strategy and operations, including FP&A, Investor Relations, Tax, Treasury, M&A, Audit, Pricing and Capital Allocation for the $4 billion Americas region. Prior to EssilorLuxottica, Mr. Etta served as Worldwide Vice President and Chief Financial Officer at Johnson & Johnson Vision from 2015 to 2019, where he led finance operations and oversaw a 250-person team for this $3 billion global business. Mr. Etta also spent nine years at The Coca-Cola Company, where he held various senior finance roles. Earlier in his career, Mr. Etta served as Business Analysis Manager at Microsoft Corporation, Senior Supply Chain Analyst at Eli Lilly and Company, and Analyst of International Investments Fund at The Carlyle Group. Mr. Etta began his career as a Senior Accountant at Orano Cycle (previously Cogema). He earned a Master of Business Administration in Finance from Howard University and a Bachelor of Science in Accounting from George Mason University.
Guardian Pharmacy Services Opens Second Michigan Pharmacy
Guardian Pharmacy Services, one of the nation’s largest and most innovative long-term care (LTC) pharmacy companies, and Guardian Pharmacy of Michigan are pleased to announce the opening of a new location in Brighton, Michigan, a suburb of Detroit. The pharmacy will operate under the name Guardian Pharmacy of Eastern Michigan and, together with the Grand Rapids location, will serve residents in assisted living and behavioral health communities as well as individuals with intellectual and developmental disabilities across Michigan’s Lower Peninsula.
Guardian Pharmacy of Michigan currently serves thousands of LTC residents throughout the Great Lakes State from its Grand Rapids location. The pharmacy has experienced substantial business growth since joining the Guardian family in 2019, doubling the number of residents served and staff employed in less than four years. Guardian Pharmacy of Eastern Michigan plans to hire additional staff before the end of 2023.
“This new pharmacy allows us to better serve LTC communities and residents throughout Michigan providing reliable, high-quality pharmacy services and expertise that prioritize safety and wellbeing,” said Nathan Stauffer, president of Guardian Pharmacy of Michigan. “We look forward to forging new partnerships and strengthening existing ones, collaborating closely with LTC communities and their staff to deliver exceptional resident care.”
The nearly 10,000-square-foot facility will house new technology/automation and a training center to provide in-service and clinical instruction courses for pharmacy employees, as well as community staff members. Robert Moser, director of sales and marketing for Guardian Pharmacy of Michigan, will lead Guardian Pharmacy of Eastern Michigan alongside Stauffer.
“Our team is dedicated to meeting the individual needs of each community and resident we serve. This new location will allow us to continue to provide the personal quality care we are known for with even greater efficiency,” said Moser. “We're excited to continue building strong relationships with long-term care communities and their staff throughout Eastern Michigan.”
As part of the Guardian Pharmacy Services family, Guardian Pharmacy of Eastern Michigan benefits from the company’s local-autonomy business model. This industry-unique model ensures that the local pharmacy team can focus on customer service to meet the specialized needs of the communities, residents and individuals they serve, while Guardian’s Corporate Support Team assists with the many complex behind-the-scenes business functions, including data analytics, HR, IT, payor relations, national sales and more.
Founded in 2004, Guardian Pharmacy Services has 43 locations serving 33 states. For more information, visit www.guardianpharmacy.com.
About Guardian Pharmacy Services
Guardian Pharmacy Services, headquartered in Atlanta, Ga., is one of the nation’s largest and most innovative long-term care pharmacy companies. Guardian’s pharmacies provide outstanding client service and resident care to long-term care communities, including assisted living, skilled nursing, group home, and behavioral health, as well as to organizations that serve individuals with intellectual and developmental disabilities. www.guardianpharmacy.com.