Volume 6 Issue 2, January 31, 2019
Alan Hymowitz, Managing Director
It's never been more difficult to run a successful pharmacy, especially for the roughly 23,000 independent pharmacies still in operation. The bad news is that it's not going to get any easier. Reimbursement is tightening, with audits further cutting payments. Direct and indirect remuneration (DIR) fees are on the rise, costing some pharmacies hundreds of thousands of dollars. Accreditation is becoming more cumbersome and expensive. Consolidation of chain pharmacies is giving the big players an expanded footprint and greater ability to leverage their market power (e.g., advertising, contracting, purchasing, shipping/delivery). These larger entities are rolling out new engagement resources (e.g., apps, messaging services, portals) that make it easier for consumers to manage their medications.
Rachel Boynton, Managing Director
If you would like to discuss this article personally, the value of your healthcare company/practice, or how to get the best price when you sell it, you can reach Alan Hymowitz at ahymowitz@vertess.com / 818.468.7554 and Rachel Boynton at rboynton@vertesss.com / 603.568.9940.
During the past decade, Alan has facilitated numerous, diverse M+A transactions in the pharmacy marketplace across the country, as well as providing strategic consultation to national pharmacies and similar organizations. Prior to becoming an M+A advisor, he was a “hands-on” owner and manager in the pharmacy and home infusion healthcare marketplace for over 15 years and successfully sold his pharmacy to a national company after growing and diversifying their income streams in a very competitive market. Alan's specialties in the pharmacy and home infusion marketplace include long term care, retail pharmacy, specialty pharmacy, and home healthcare, and he has attained the URAC Accreditation and Specialty Pharmacy Consultant designations, in addition to other recognitions. His educational background includes a Bachelor of Arts from Rutgers University and a Master of Arts from the John Jay College of Criminal Justice.