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Pharmacy Research Paper

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If there was a way to live to one hundred fifty years old, would you do it? The pharmaceutical business is extremely busy trying to sell dreams of people living longer life spans and a better quality of life. Almost all Americans in today’s society are either currently taking prescription medications or have at some period in their life. Over 25% of all prescription drug use is by older adults. (Culberson & Ziska, 2008) The future of the pharmaceutical dynasty is highly profitable. The pharmaceutical business makes a remarkable profit in sales, these main profits normally are a direct result of authorized and unauthorized test trials, pharmacy inflation, and people’s dependence on specific drugs. Due to the fact that people are living to be …show more content…
With there being so many people on so many different drugs it is increasingly becoming a need for there to be different pharmacies on every corner and everyone make profit. Large pharmacy companies like CVS and Walgreens’ competes to take over the country with their larger store-like pharmacies inviting a slew of new customers in daily. Even the newer more convenient grocery store’s pharmacies like Walmart and Publix pharmacies have some catching up to do. Due to reimbursement rates it is difficult for some of these places to stay afloat and be able to offer their patients the major discounts other pharmacies may offer. An example of this being a problem is the CVS Caremark insurance being accepted at Walgreen’s pharmacies. Due to CVS Caremark wanting their customers to veer towards CVS, there can sometimes be a huge difference in pricing through the insurance from going to Walgreen’s instead of CVS. It is presumed that Walgreen’s will not continue the contract with the CVS Caremark company due to the low reimbursement rates. (Charleston, W.V 2010) Walgreen’s is expected as of January 1, 2017 to start taking Tricare again after letting that contract go years ago because of low reimbursement rates. From the pharmacies’ point of view, it is difficult to balance out profit, cost of medications, and cost of having these low reimbursing insurance

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