Sharon Terlep
speaker
59 appearances
2 recordings
1 series
first heard Jun 2019
last heard Jan 2020
Sharon Terlep’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Why Supermarkets Are Closing Their Pharmacy Counters · 27 Jan 2020
podcast
Not only did they bring in shoppers, they were relatively easy to start up.
There was low capital costs.
It didn't require a lot of employees.
So they were a really good way to bring in shoppers and generate some more revenue.
Yes, and that changed everything.
Not only did they have new competitors as these big chains, and we're talking about CVS and Walgreens, bought up smaller chains.
They became bigger.
They got more market power.
And then CVS in particular started buying other pieces of the healthcare industry.
CVS now owns the insurer Aetna.
It has its own pharmacy benefit manager, which is a company that negotiates prices.
So these big chains have a lot of power now.
Lately, particularly in the last year or so, both CVS and Walgreens have been working to make their drugstores a one-stop shop for patients, really, and particularly patients who have chronic diseases.
So not only can you get your drugs and get a blood pressure test, if you're diabetic, you might be able to get your annual eye test.
You can get advice at clinics where you can get medical advice, diagnostics.
And this has only begun.
These services are expanding.
Consumers are getting more and more of their goods online.
Grocery is one of the last things to shift to online, but it is shifting to online.
And also, consumers are getting their prescriptions more and more in 90-day chunks, so they just aren't going to physically pick them up as much.
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