Pharmacy is a chemical preparation business that involves drug manufacturing and wholesale distribution. Pharmacy industries produce products and supplies all over the world. Most of the pharmaceutical products come from plants in numerous countries that produce essential chemicals and pharmacy industries take care of producing effective medicines in their respective countries.
In general terms, pharmacy supplies drugs under the brand name, generic name or by-product names. Some pharmaceutical manufacturing companies convert chemical substances into useful medicines by various methods including distillation, expression, hydrolysis, and hydration. Many drugs are also manufactured in pharmacological facilities and pharmacy industries. Among many commonly used drug types are antibiotics, anticonvulsants, blood pressure lowering medicine, blood tonics, hormonal tablets, cough and cold syrups, decongestants, diuretics, dyes, insulin, lancets, oral contraceptives, pain killers, stomach remedies, sleep aids, nasal sprays, nasal drops, contraceptive tablets, testosterone preparations, thyroid preparations, testosterone and progestin preparations, and injectable testosterone preparations.
Retail Or Chain Pharmacy
A pharmacy can be categorized as either retail or chain pharmacy. A pharmacy can also be part of a large chain of pharmacies. The pharmacy benefits from lower prices of some branded and generic drugs, by buying from the manufacturer directly or by franchising and participating in franchisee programs. Some pharmacy benefit by having multiple ways to sell their products, such as through internet, direct mail, bulk buying, or licensing their brands to other pharmacies.
An independent pharmacy is one where the pharmacist sells the products of only one manufacturer and only accepts and fills orders from the specific manufacturer that supplies the medication. Independent pharmacists typically have years of experience in the field of medicine and are well trained in filling and dispensing prescriptions. Unlike chain or affiliate pharmacies, independent pharmacies usually do not sell brand name drugs, but are typically used by doctors, dentists, or nurses. Independent pharmacies commonly accept Medicare and Medicaid and typically have a physician referral program for medications.
A pharmacy can also be part of a public health initiative such as a managed care plan or a preferred provider organization (PPO). A PPO offers pharmacy benefits to selected providers in a group plan. Most people get prescription coverage through their employer, but some employers do not take advantage of affordable, preferred provider organizations because they believe that the medications should be provided by drug stores. Pharmacies participate in the PPO and are reimbursed a portion of the fee that the provider pays the patient.
It is beneficial for patients, families and healthcare providers if pharmacy professionals work together to promote cost-effective practices. Pharmacy professionals can participate in a PPO and assist healthcare providers in developing and implementing innovative ways to provide patients with the best value for their health-care dollar. Many pharmacists are already involved in health management programs. Participating in such efforts allows them to expand their clientele while receiving high level professional recognition. Many pharmacies have been able to attract new business by creating an attractive pharmacy benefits program.