Pharmacy closures in the United States are on the rise, with independently owned pharmacies being disproportionately affected.
However, in an era of corporate pharmacies like CVS and Wal-Mart, local pharmacies like Stone Drug Pharmacy are making their case.
The pharmacy is a staple on Main Street in Spanish Fork that has seen a lot of growth over the last 66 years by taking care of its customers, many of whom have grown up with it.
“My grandpa started this pharmacy in 1960, and he ran the store for about twenty to thirty years, and then my father ran the store for about 20 years, and now I am the third generation pharmacist and the owner of Stone Drug,” Jordan Stone, owner of the Pharmacy, said.
Even then, the pharmacy is not immune to modern-day challenges.
Stone said the competition does not really affect them, but the issues they face are with what he describes as the middleman.
“A lot of the insurance companies own what’s called PBM or a pharmacy benefit manager, and they have a lot of control over the drug industry," Stone said.
Pharmacy benefit managers play a big role in the health care system. They work with insurers, large employers, and other payers to set drug prices.
However, they have also come under scrutiny for their role in increasing drug prices and closing independent pharmacies.
Stone said the PBM sets the pharmacy's reimbursement rates, and they have gotten smaller and smaller over the years. Nevertheless, the pharmacy has been able to manage this.
“We are able to compensate by offering other services such as compounding for our consumers and just general taking care of them," Stone said.
Among the ways Stone Drug Pharmacy is able to take care of its customers is through its famous old-school grill straight out of the 1960s.
It is well known for its milkshakes, fries and its signature sizzling burgers made fresh everyday complete with popular specials.
“I always get the cheeseburger special. You won’t regret it,” Ashley Penrod, a customer at Stone Drug Pharmacy, said.
Beyond the grill, the pharmacy is looking toward the future by implementing new technologies to help its customers.
It has a robot machine that helps count, fill and label prescriptions.
It has also implemented compounding, where special prescriptions for individual patients are made. It can combine drugs to make drugs that are not available commercially.
“I think pharmacy will be more specialized that way, where you help with the compounding and then you are able to use technology to fill the regular prescriptions,” Stone said