Impact of COVID-19 on Pharmacy Practices
While COVID-19 has wreaked havoc on the world economy, the virus has impacted segments of healthcare and life sciences in different manners. Frier Levitt has represented thousands of community pharmacies, specialty pharmacies, hospital-owned pharmacies, as well as physician dispensing organizations. Each has been impacted uniquely, though a larger block of time is necessary before the full impact is realized. With respect to retail pharmacy where in-person doctor-patient visits are not as critical, prescription volume has remained largely intact. Some segments of specialty pharmacy, however, have seen a greater decline of prescription volume. For example, a specialty pharmacy that concentrates on drugs that are immunosuppressant will see a more substantial downturn. Patients are concerned that taking such drugs will render them more susceptible to the virus. Other specialty pharmacies have experienced downturns that largely relate to pragmatic social distancing dangers associated with the face to face physician-patient encounter. Many of those physician practices and pharmacies could benefit from telemedicine relationships.
Please visit our COVID-19 resource page for valuable articles relating to telemedicine, including the relaxation of telemedicine regulations by HHS, OIG and even some state boards, as well as changes in rules relating to patient copay for telemedicine.