Episode 422: The Financial Struggles and Unexpected Insights of Independent Pharmacies with Benjamin Jolley

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In this episode, Stacey Richter interviews Benjamin Jolley, a multi-generational pharmacy leader and consultant, who discusses the financial challenges faced by independent pharmacies. Jolley reveals that a significant portion of a pharmacy's profits comes from a mere 10% of prescriptions. The conversation dives into the detrimental impact of Pharmacy Benefit Managers (PBMs) on pricing and reimbursement, the inefficiencies in the system, and explores potential models like direct pharmacy care to create more sustainable business practices. The discussion also touches on the broader implications for local communities and the healthcare system overall.

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04:47 Benjamin Jolley’s recent revelation.

06:14 What are the 10% of drugs that provide all the profit for pharmacies?

09:21 What’s happening with the other 90% of drugs that pharmacies are filling?

11:05 What is the breakdown of costs when fulfilling prescriptions and running a pharmacy?

18:50 EP379 with AJ Loiacono.

21:42 What is the “cost savings” within the “insane system” of PBMs not sharing profit with independent pharmacies?

23:00 What is one of the things that PBMs and pharmacies don’t often talk about?

26:39 What can employers do so that patients aren’t getting overcharged by PBMs?

27:51 “How do I make the PBMs irrelevant?”

33:30 What’s the difference between an independent pharmacy delivery service and a service like Express Scripts?

34:36 What’s the other potential solution in solving the problems independent pharmacies face, and why does Benjamin Jolley feel that it’s not the best solution to pursue?