Community Independent Pharmacy

1
Community Independent Pharmacy

• Nathan Bartrow
• Hospital Pharmacy Management
• March 10, 2008

2
Definition

• An independent pharmacy is a retail pharmacy that
  is not directly affiliated with any chain such as
  Walgreens or CVS Pharmacy.
• Independent pharmacies are not owned by publicly
  traded companies.

3
Statistics

• The nations independent pharmacies and
  independent pharmacy franchises dispense nearly
  half of the nations retail prescriptions.
• In 2007, there was just over 23,000 independent
  pharmacies in the U.S.
• Independent pharmacies dispense 1.4 billion
  prescriptions which accounts for 41 of retail
  prescriptions.
• Over 30 of independent pharmacy owners have
  ownership in 2 or more stores.

4
Wages

• Hourly- 50 per hour
• - This salary is a competitive salary.
• - National average salary 100k.
• Overtime- Hourly wage is time and a half
• Holiday pay- New Years, Memorial, Labor, 4th of
  July, Thanksgiving, and Christmas day.

5
Incentives

• Relaxed schedule- Very flexible (Ex bring kids
  to work if sick or can leave to run errands)
• It is not micromanaged like when working for a
  chain drug store.
• Friendly working environment (Co-workers)
• Low volume

6
Benefits

• No social security, workers compensation, or
  unemployment insurance.

7
Pensions

• No profit sharing
• No 401k or 403b plan
• Does have matching retirement payments- Match 3
  of salary but has the option of placing whatever
  amount in.

8
Insurance

• Available- employer paid
• - Major medical and Prescription benefits
• - Disability
• - Liability Insurance
• - Payment for any accident while driving
• Not Available- employer not paid
• - Dental or vision
• - Life insurance

9
Time Off

• Available
• - Vacation Days- Same days as from slide before.
  5 days per year.
• - 2 weeks per year paid days off.
• Not Available
• - Paid sick days- Must use PDO when sick.
• - Lunch breaks- Eat while at work.

10
Miscellaneous

• Paid membership in APA
• Paid enrollment, travel, time off for
  professional meetings.

11
Conclusion

• You always hear about how independent community
  pharmacies are struggling to survive. But as you
  can tell these pharmacies contribute to just
  under half the total prescriptions filled by
  retail in the nation.
• This niche of pharmacy has many advantages and
  disadvantages that help it to keep with the chain
  drug stores.

12
Sources

• Kristie Ragland, PharmD. Employed at Baker Drug,
  Conway, AR.
• National Community Pharmacy Association.
  http//www.ncpanet.org/.
• Pharmacy. Wikipedia, The Free Encyclopedia.
  March 07, 2008. http//en.wikipedia.org/wiki/Phar
  macy.