1. BLOG
  2. Pharmacy News
  3. Amazon’s PillPack Acquisition: Your Questions Answered

Amazon’s PillPack Acquisition: Your Questions Answered

Last updated Jul 20, 2022 | Pharmacy News

Amazon has hit the headlines again. This time, it’s because the company has shaken up the drugstore business with its recent acquisition of the PillPack.

We know PillPack’s acquisition last month has led to many unanswered questions. That’s why we asked Matt Noffsinger, SVP of business development for TCGRx, five questions about the issue. See what he has to say about what this acquisition means for independent pharmacies and what they should do as a result.

Q1: What does the recent PillPack acquisition mean for independent pharmacy?

A: The spotlight on the PillPack acquisition is raising awareness across the pharmacy market, which we perceive as a good thing for independent pharmacies.

The independents have always been early adopters and more flexible to address changing market needs. Many of our independent partners have been offering adherence packaging for many years and growing their businesses with it. What’s interesting is the various areas that have been targeted for adherence. Pharmacies are providing specialty medications, servicing assisted and independent living facilities, and working with traditional retail patients.

The market awareness created by Amazon and PillPack provides an opportunity for the independents to leverage their ability to react quickly to capture market share.

Q2: What can independent pharmacies do tomorrow to respond to this recent acquisition?

A: Pharmacies should look first at their core strengths and put together a plan. They need a plan to retain current patients and to add new patients. They should put this plan together while taking into consideration unique opportunities, such as seeking new business from a nearby independent living facility.

Pharmacies then need to bring in technology to help them capture and scale their patient onboarding. There are options for multidose cards and for adherence pouches, and the solutions can be very affordable, depending on the budget and business planning of a pharmacy.

Q3: What type of medication adherence packaging would be best for my pharmacy and patients?

A: Know what your market is. Every pharmacy caters to a different population and will need a different packaging technique. For example, a more acute patient population may warrant a shorter cycle fill versus a program of 30 day fills. In an assisted living facility, patients and employees may benefit more from a standard 30 day multidose program.

Q4: What are some other factors that should be considered when selecting a medication adherence packaging solution?

A: Invest in products with a goal for your pharmacy in mind. The main question you have to ask yourself as a pharmacy is where your business is going to be in three,five, 10 years. Invest and promote a product that is easily scaled to the volume you want to get to.

Q5: Do you have any advice on overcoming some of the potential challenges of implementing an adherence packaging solution?

A: With medication synchronization and adherence packaging systems, pharmacies need to be prepared to handle hours of administration through an interface. This being said, it is recommended to check with your current pharmacy system provider and open a discussion.

TCGRx offers a variety of technologies and products that can adapt to each pharmacy’s specific goals, needs, and patient populations.

To sum it all up, Noffsinger said independent pharmacies can react to the PillPack acquisition by continuing to innovate and expand in their markets.

“Independents are incredible innovators,” he said. “They are doing things so uniquely and expanding quickly in each of their niche markets. Independent pharmacies are able to quickly adapt to changes — something that larger chains do not have the flexibility to do. The iron is hot right now for independents to promote that they are able to do what PillPack can do and more.”

TCGRx also provides solutions to some of the inevitable challenges associated with implementing an adherence packaging offering. TCGRx has software that helps connect certain operating systems and applications, making it easier for pharmacies to launch adherence packaging programs.

To learn more about how TCGRx can help you successfully implement an adherence packaging program, get in touch via email. A member of the TCGRx team will respond to you shortly.

Keep in Touch

Your monthly email to stay up to date with the latest in healthcare and technology.

Related Posts

The Phasing out of Copper Wire Landline Service & the Impact on Pharmacy Communication
The Phasing out of Copper Wire Landline Service & the Impact on Pharmacy Communication

In an age where technology is advancing at an exponential rate, it’s no surprise that traditional methods of communication are gradually being phased out. One such example is the shift away from copper wire landline services, a move that has been gaining momentum across various regions in the United States. This transition signifies a significant shift towards a more modern and efficient telecommunications infrastructure, but as with any change, is sure to be accompanied by some challenges as well. Today we will explore what you need to know about the shift away from copper lines and how to minimize any potential interruptions in your pharmacy.

read more
The Critical Role of Pharmacists on Medication Adherence & Heart Health
The Critical Role of Pharmacists on Medication Adherence & Heart Health

Maintaining heart health is a critical aspect of overall well-being, and for individuals with cardiovascular conditions, adhering to prescribed medications is crucial. Medication adherence plays a pivotal role in managing heart-related issues and preventing complications. In this blog post, we will explore the significance of medication adherence in heart health and discuss the crucial role pharmacists play in supporting patients on their journey to cardiovascular wellness.

read more
Navigating CVS’s New Pricing Models: What to Know About CVS CostVantage and CVS Caremark TrueCost
Navigating CVS’s New Pricing Models: What to Know About CVS CostVantage and CVS Caremark TrueCost

CVS Health recently announced two new pricing models launching in 2025—CVS CostVantage (Focused on CVS as the Provider) and CVS Caremark TrueCost (Focused on CVS as the Payer)—which are intended to “drive aligned incentives and deliver a more transparent and sustainable reimbursement model” according to CVS Health’s press release. Now whether these cost-plus models will spark an industry-wide shift to more simplistic prescription drug pricing is largely unknown at this time. Here is what we do know…

read more
digital pharmacist - transform your pharmacy illustration

Ready to Transform Your Pharmacy?

Get Started With Your Demo Today.

 

Existing customer looking for help? Head to our contact us page and fill out the form, or give us a call: 877-959-7550