Cvs Vs Walgreens

I did not know the government was a major purchaser of prescription drugs. This is how they set and control the prices for Medicaid, Medicare and Veterans Affairs recipients programs. They pay for a certain portion of their medication and this is why some recipients pay nothing or a very small amount for their prescription.

The rise in drug prices is causing the public to ask why this is so and why there isn’t anything being done, or what the reason could be for sky high prices. Some of the reasons include pharmaceutical companies setting their drug prices

Ads for pharmaceutical drugs are everywhere. They are in magazines, on television and radio, on billboards, and on the little bags that you get from the pharmacist. These days it is difficult to get away from all the drug advertising. All these ads are for products that require a doctor's prescription. The goal of advertising is to increase profits. By advertising so heavily for drugs that the majority of the population does not need, pharmaceutical companies attempt to create as large a consumer base as they can. In advertising directly to the consumer, the drug companies accomplish two objectives. First, they get information directly to the consumer. Second, they promote the product and

The prices of prescription drugs in the United States are by far the highest in the world. [1] On average, Europeans pay 40% less than Americans for the same medications. [2] Consumers have been resorting to several ways, sometimes putting themselves in harm’s way, to alleviate the burden of high prescription drug costs. Some buy their medications online or cross the borders to neighboring countries so they would be able to afford buying their needed medications. Others have resorted to the illegal act of selling their unused medications in online forums just to recover part of their expenses. Many factors contribute to the increased drug prices in the United States including research and

On the other hand, my son can only get his monthly medication at CVS Pharmacy and whenever I pick his medication up or he does, we are treated like brand new customers, there is no personalization. At CVS, after waiting an extended length of time, the pharmacy technician rarely asks me if I have any questions for the pharmacist and if I do she rushes me out, like I am disturbing the flow of operations. My family describes the pharmacy at CVS as a sterile machine; you are treated like a number not an individual. We have tried different CVS Pharmacies around Lakeland, but we get the same old treatment. Both Walgreens and CVS probably handle customer identification data very similar, but Walgreens emphasizes building positive customer relations

We in America tend to take medications for almost any problem we have, from headaches to gastrointestinal pain, to more serious chronic disorders such as depression and attention deficit disorder. While many of the uses of such medications may be necessary and legitimate, many are not, and due to this fact, many people become dependent on medications, mentally, and or physically. This problem is not simply the fault of the individual; in fact, the blame can also be placed upon the medical community, and the pharmaceutical companies who produce the drugs. How often can one turn on the television to see advertisements for Claritin, Aspirin, Pepto-Bismol, or even Zoloft or Ritalin? The pharmaceutical industry is motivated by monetary

Medicare, one of the greatest purchasing clients in the medication industry, is not lawfully allowed to bargain first hand with companies for lower medication costs or best possible price. (Kounang, 2015)

The two variables that were recorded were as followed: The average price of 30 medications (in dollars) filled at a Wal-Mart pharmacy and the average price of 30 medications filled at a CVS pharmacy. We collected the information using the internet; the website that we used was goodrx.com. We randomly selected 30 medications and used goodrx.com to pull up the medication for both the price at Wal-Mart and at CVS. We than made a table to show that information next to each other, in order to make the comparison easier to compare. We did have to make a couple of adjustments to the data that we collected. In order to make sure that there were no outliers in our data, we kept the medications similar and made sure that the price differences between

In our society, many people suffer from ailments and diseases that require medication to help them manage their illnesses while trying to maintain a normal lifestyle. Approximately 75% of the US population lives within three miles of a CVS (Datamonitor,2011), a retail pharmacy which sells prescription drugs and a range of general merchandise including over the counter drugs, beauty products and cosmetics, photo finishing, seasonal merchandise, greeting cards, and convenience foods (Mergent, 2012). Pharmacy services for CVS also include a mail order pharmacy service, specialty pharmacy services, plan design and administration, formulary management and claims processing. CVS also possesses in store health clinics

The rise in costs of prescription medicines affects all sectors of the health care industry, including private insurers, public programs, and patients. Spending on prescription drugs continues to be an important health care concern, particularly in light of rising pharmaceutical costs, the aging population, and increased use of costly specialty drugs. In recent history, increases in prescription drug costs have outpaced other categories of health care spending, rising rapidly throughout the latter half of the 1990s and early 2000s. (Kaiseredu.org, 2012).

Both CVS Corporation and Walgreen Company operate retail drug stores in the United States. In addition to having pharmacies and selling prescription and non-prescription drugs both retailers also sell general merchandise. This includes items like beauty and cosmetic products, convenience foods, household items and film & photofinishing services.

Walgreens customers receive an average of four prescriptions on a monthly basis from the pharmacy (WAG Annual Reports, 2007). With 65% of the sales revenue of the company coming from the pharmacy, Walgreens declines to bargain with out-of-pocket customers over price. Regardless of a climbing prescription drug-price trend, demand remains elastic because customers demand choices of similar, less expensive medications if authorized by their doctor. The amount of reimbursement Walgreens receives from Medicare, Medicaid, and Worker’s Compensation falls drastically, as incremental revenues from those sources decreases (Stewart, 2006). According to Lueck, “Medicare and Medicaid comprise 25 percent of the federal budget, and the government cannot afford to spend at the current rate” (Lueck, 2008). In order to maintain relationships with customers, retail pharmacies resorted to buying sections of Medicare Part D insurance companies: AARP Walgreens vs. CVS Caremark (Caremark Rx Inc., 2007).

The Pharmaceutical industry has been in the spotlight for decades due to the fact that they have a reputation for being unethical in its marketing strategies. In The Washington Post Shannon Brownlee (2008) states, “We try never to forget that medicine is for the people. It is not for the profits. The profits follow.” This honorable statement is completely lost in today’s world of pharmaceutical marketing tactics. These tactics are often deceptive and biased. Big Pharma consistently forgets their moral purpose and focuses primarily on the almighty dollar. Big Pharma is working on restoring their reputation by reforming their ethical code of conduct.

Current Industry. The retail drug industry’s 2010 combined annual revenue was $277 billion, according to the National Association of Chain Drug Stores (Drug Store Industry…, 2011, par. 4).The big players in this industry are CVS Caremark, Corp. Walgreen Co., and Rite-Aid, Corp with Wal-Mart and Target developing more of a presence in recent years. According to the article, the drug store industry is very concentrated with the 50 largest companies generating about 70 percent of the industries revenue (Drug Store Industry…, 2011, par. 4). The industry had grown substantially in the last 50 years and will continue to innovate and develop well into the near future.

A lot of people, particularly the patients who need them, are beginning to wonder why American drug prices are so high. It makes sense why the pharmaceutical companies are selling at the prices they do: they are a business; and they want to, above all else, make a profit. But the real question is: what are all of the