CVS Health/Morning Consult survey reveals most
pharmacy teams and consumers say more care and services can and
should be provided in community pharmacy
Demand for pharmacy care is high, with 76% of
consumers having at least one prescription for themselves or a
person they care for
Most consumers (81%) say they trust their
local pharmacist and 83% say their pharmacist's recommendations are
important to them
WOONSOCKET, R.I., Oct. 15,
2024 /PRNewswire/ -- CVS Health® (NYSE: CVS)
today released the Rx Report: Transforming Community Pharmacy to
Make Healthier Happen Together, which explores the ongoing
evolution of community pharmacy as well as opportunities for the
industry to keep pace with consumer expectations, better support
the workforce and advance the pharmacy model to create a more
viable, sustainable future for the industry.
"It's time for change in community pharmacy, and CVS Pharmacy is
starting from a place of strength because of the impact we have on
local communities across the country," said Prem Shah, Executive Vice President, Chief
Pharmacy Officer, and President of Pharmacy and Consumer Wellness,
CVS Health. "Consumer demand for pharmacy care is high, and our
research shows that Americans deeply trust and rely on their
pharmacy teams for important care and credible information. Our
people and trust are the heart of everything we do, and why as we
look toward the future, we're focused on ensuring a viable,
sustainable pharmacy model that helps ensure we can be there for
Americans, when and where they need us."
The Rx Report findings underscore the importance of a community
pharmacy that prioritizes one-on-one interactions, ensures local
access to important care and uses technology to create efficiencies
and allow more time for meaningful moments that matter to
consumers.
Key findings from The Rx Report CVS Health survey*
include:
- 76% of consumers have had at least one active prescription for
themselves or those they care for and 79% have visited a pharmacy
in the past year.
- Most consumers (80%) believe their pharmacist is one of the
most credible sources of health information, and the majority (83%)
believe that their pharmacist's recommendations are important to
them.
- Trust in local pharmacists remains high (81%) among consumers,
and 88% also believe pharmacists are the most accessible and
frequently visited health care providers.
- Consumers don't want a digital-only experience – 70% of those
surveyed prefer in-person interactions, and nearly half (48%) said
they would likely switch their pharmacy if they knew they were only
ever able to interact with their pharmacist digitally.
Pharmacy models must change
The Rx Report explores challenges the community pharmacy
industry is facing, including impact of the decades-old pharmacy
reimbursement model, which typically follows a market-basket
approach, based on discounts from multiple industry benchmarks that
may not be closely connected to how much it costs to purchase a
drug. It's why CVS Pharmacy® is bringing much-needed simplicity to
the model with a new approach called CVS CostVantage, which is
based on a transparent formula built on the underlying cost of the
drug, plus a dispensing fee tied to the care and value CVS Pharmacy
provides. Altogether, the model aims to help ensure a viable and
sustainable business over the long-term.
Community pharmacy can better support pharmacy teams
The Rx Report emphasizes the importance of making community
pharmacy a better place to work and empowering pharmacy teams to
focus more on their purpose of providing care in their community.
While the majority (69%) of those who work in community, mail or
online pharmacy are satisfied with their jobs, the pressures and
challenges experienced by pharmacists and pharmacy technicians
during the pandemic exacerbated long-standing issues in pharmacy.
It's why many community pharmacies, including CVS Pharmacy, are
investing in the workplace and workforce and introducing new ways
of working that support pharmacy teams and enable high quality care
consumers want.
Inspiring the next generation of pharmacy teams
Although demand for community pharmacies is high and their
positive impact on Americans as accessible and frequently visited
health care providers is significant, enrollment in pharmacy school
has been down by more than 29% in the last five years. To address
declining pharmacy school enrollment, community pharmacies must
invest in the future workforce through innovative programs and key
professional development opportunities. This includes leading
tuition reimbursement and scholarship programs offered by CVS
Pharmacy.
The Rx Report finds that community pharmacies are integral to
public health and a critical part of local access to health care
nationwide. But as the marketplace rapidly evolves, the industry
must keep pace and adapt. CVS Health is committed to continuing to
transform pharmacy, addressing industry challenges and elevating
the important role of pharmacy teams.
Download and read the full report at
www.cvshealth.com/rx-report.
*Morning Consult Survey Methodology
This survey was conducted online by Morning Consult between
July 1 – July
26, 2024, among a sample of 1,000 pharmacists, 53 pharmacy
technicians, and 2,201 general consumers in the United States. The data from the
pharmacist and pharmacy technicians were left unweighted, while the
data from general consumers were weighted to approximate a target
sample of U.S. adults based on age, gender, race/ethnicity, region,
and educational attainment.
About CVS Health
CVS Health® is the leading health solutions company,
delivering care like no one else can. We reach more people and
improve the health of communities across America through our local
presence, digital channels and over 300,000 dedicated colleagues –
including more than 40,000 physicians, pharmacists, nurses and
nurse practitioners. Wherever and whenever people need us, we help
them with their health – whether that's managing chronic diseases,
staying compliant with their medications or accessing affordable
health and wellness services in the most convenient ways. We help
people navigate the health care system – and their personal health
care – by improving access, lowering costs and being a trusted
partner for every meaningful moment of health. And we do it all
with heart, each and every day. Follow @CVSHealth on social
media.
Media Contact
Amy Thibault
401-318-2865
Amy.Thibault@CVSHealth.com
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SOURCE CVS Health