More local pharmacies expected to disappear in 2024
Newsy
Local pharmaceutical and medical supply businesses are facing growing challenges, with hundreds closing recently.
Independent pharmacies may soon be a thing of the past.
"2024, everyone knew was gonna be bad," explained Blake Gillman, George's Pharmacy and Medical Equipment owner and CEO in Indianapolis, Indiana. "It's been worse than anticipated."
Gillman shared some of the issues the independent pharmacy industry is facing with Scripps News Indianapolis. He says over 300 independent stores closed in 2023 and he expects that number to grow in 2024.
"2024 is looking to be a bloodbath," said Gillman. "I know a dude in Ohio who just closed four stores."
Gillman says until there's some actual change happening, the closing of stores is going to be a common occurrence. He explained that the issue is a result of pharmacies not being fully reimbursed for insurance-covered prescriptions.
