07/21/2024
It is with a heavy heart that I must announce the closing of Bloss Pharmacy. To many of you, this comes as a surprise or shock, but to me, it’s the end of a very long, unfair, and completely unbelievable battle that we have fought over the last four years. You see, independent pharmacies are closing at an alarming rate across the country. This is not a recent development, but what is new, is the increased rate of closures year over year. Why is this happening?
For years there was a more even playing field where independent pharmacies not only survived, but thrived, and competed with the major pharmacy chains. What pharmacies earn is largely dependent on what is reimbursed or paid to them by PBM’s or Pharmacy Benefit Managers. The PBM is the “middleman” between your insurance and the pharmacy, and they give a contracted rate of reimbursement for every prescription dispensed to you. Over time the prescription margin paid to independent pharmacies from the PBM’s decreased even to the point where now, reimbursement rates are often less than what the pharmacy can even purchase the drug. For example, the pharmacy purchases a drug for $1000, but the PBM only reimburses $925. So, in essence the pharmacy loses $75 by filling that prescription. This seems crazy right? Now, $75 might not seem like a lot of money, but when this happens many times each day, and day after day, this adds up to significant losses making the business unsustainable. I will post a slide in the comments to show examples of the different rates of reimbursement that a Georgia Pharmacy was able to compile to bring to light just how unfair the rates have become.
As if these unfair reimbursement practices weren’t enough, independent pharmacies have also faced the loss of many insurance contracts and frequent steering of customers to other larger pharmacies and mail order. These questionable practices coupled with negative to minimal reimbursement rates have led to the closure of Bloss Pharmacy and many other independent pharmacies.
Looking back, I remember leaving for college and dreaming of one day coming back home, owning a pharmacy, and serving the community I grew up in. When that finally happened in 2020, I was so excited and hopeful. I thought my dream had come true. Anyone who knows me, knows that I give 110%. This pharmacy was no different. I put my heart and soul into this business and did everything I could possibly do to make it work. I was also blessed with an amazing staff who made it a joy to come to work every day. We became a family. They helped make Bloss Pharmacy a truly special place and something I will always be proud of. While I am thankful for the time I was able to operate Bloss Pharmacy, I am disappointed that there will no longer be a pharmacy here in Bloss to serve the local community. The staff and I would like to thank our loyal customers that stood by us and supported the pharmacy throughout the years. Many of you have become like family to us and we will greatly miss you all.
Bloss Pharmacy will close its doors at 5:30 pm on Friday July 26th. Over the days leading up to closing, we will do our best to fill all scripts requested and transfer out as many scripts as we can to the pharmacy of your choice. After 5:30 pm on Friday July 26th, all remaining scripts that are filled will be reversed and inactivated. All prescription files not transferred out will become ineligible for transfer. If your prescriptions have not been transferred out, before closing on July 26th, you will need to contact your doctor and have new prescriptions sent to the pharmacy of your choice.
Thank you again so much for your support over the years. I am deeply saddened to have to share this unfortunate news. Please be patient with us over the next week. It is going to be very challenging and emotional. We will try our best, but we are all trying to come to terms with a huge chapter in our lives that is closing.
