Pharmacy and banking: 2 sides of the same coin?
Its no secret that the banking industry is trashed. Willfully and knowingly, for years, banks gave loans to people (with little or no ability to pay) to buy houses they had no business buying. Some even violated their own policies to assure these loans were approved by either falsifying records or creating loopholes an elephant could walk thru. They knew it was risky but they were hoping that past performance would be the true indicator of future returns. Didn’t happen. In essesence, they built the gallows that they were hung upon.
As I price matched another $10/90 day supply transfer for a $25.00 gift card, I wondered privately: are we doing the same thing?
We allowed PBM’s to make brand name meds completely unprofitable.
We are now taking our last money makers (generic medications) and are using them as loss leaders, and now hand out “gift” cards for $10-30 at a time for people who collect them like trading cards, and fill their prescriptions at the “pharmacy of the week”.
Are we building our own gallows by giving away the business?
Just a thought.
Tags: looking into the crystal ball, pharmacy life, what's next? | |