Walgreens Retail Pharmacy Student ✓ Solved
walgreens retail pharmacy 7 Walgreens retail pharmacy Student
Walgreens retail pharmacy, an American-based company, is the second-largest retail store retailer in the United States, following CVS Health. The organization specializes in medicine, wellness products, photo processing, and health records enforcement. Established in Chicago, Illinois, in 1901, Walgreens had 9,277 stores as of August 31, 2019. The company merged with Switzerland-based Boots Alliance in 2014, creating Walgreens Boots Alliance Inc. This paper aims to provide an overview of Walgreens retail pharmacy.
Background Information
Walgreens opened its first store in 1901 on Bowen and Cottage Grove Roads in Chicago, run by Charles R. Walgreen. By 1913, Walgreens had expanded to four shops. After launching a malted milkshake in 1922, it ventured into ice cream processing as well. The 1920s marked prosperity for the company, particularly given the alcohol prohibition period in the U.S. During this time, Walgreens sold prescription whisky.
Walgreens grew rapidly, reaching 20 stores by 1919. By 1930, the company had 397 stores across states like Minnesota, Missouri, and Wisconsin and reported annual sales of US$4,000,000. The stock market crash of 1929 did not significantly affect Walgreens, and by 1934, it expanded to 601 stores in 30 states. Following the retirement of Charles R. Walgreen Sr. in 1939, his son Charles R. Walgreen Jr. took over the leadership of the company, which underwent further expansions and modernization.
Corporate Leadership Changes
In 2006, after the tenure of the CEO David Bernauer, Jeff Rein, a former pharmacist and retail manager, became CEO and chairman of the board. The company underwent a transition in leadership again when Alan G. McNally served as acting CEO after Rein's retirement in 2008. Gregory Wasson was elected as CEO in 2009, contributing to significant corporate strategies and initiatives.
Community and Client Services
Walgreens is committed to reducing health disparities through a variety of community-focused pharmacy and wellness programs. As part of their commitment to addressing health needs in underserved communities, Walgreens invested over $35 million to re-open stores in distressed neighborhoods in Chicago. The company aims to improve access to quality care by partnering with local officials and organizations to promote health equality.
John Standley, President of Walgreens, emphasized the importance of addressing community health needs through tailored pharmacy services. On Chicago's south side, Walgreens has begun implementing additional healthcare services to support residents facing higher incidences of diseases such as hypertension and diabetes.
Size of Organization
In fiscal 2020, Walgreens filled approximately 287.6 million prescriptions on a 30-day adjusted basis, including immunizations. The organization employs over 225,000 workers, of which more than 85,000 are healthcare service providers such as pharmacists and medical assistants. As of August 2020, Walgreens has about 9,021 locations in the U.S., Puerto Rico, and the District of Columbia, organized under the Balance® Rewards program that includes 86 million participants.
Legal Aspects and Regulatory Compliance
Pharmacists play a crucial role in the healthcare sector, requiring a strong knowledge base and analytical skills. They provide valuable information to healthcare providers and patients regarding medications, and keeping abreast of the increasing volume of medical information poses a significant challenge. Consequently, providing timely drug information (DI) resources is critical for ensuring patient safety and effective treatment regimens.
Diversity and Inclusion Initiatives
Walgreens is committed to fostering a diverse workforce and maintaining an inclusive work environment. The company actively promotes equality and supports diversity in all pharmacy schools through initiatives like financial grants. Since 2008, Walgreens has contributed over a million dollars annually to programs aimed at increasing representation among pharmacy students.
Moreover, Walgreens has established Company Resource Groups (BRGs) focused on recruiting and retaining diverse talent, thereby enhancing community engagement and workplace diversity. These grassroots networks facilitate a more dynamic workplace culture and improve organizational performance.
Conclusion
Walgreens retail pharmacy has established itself as a major player in the healthcare and retail pharmacy industry, emphasizing corporate responsibility, community engagement, and diversity. Through its expansive network of stores and commitment to health equality, Walgreens aims to improve the well-being of the communities it serves while navigating the challenges of regulatory compliance and the fast-evolving healthcare landscape.
References
- Bacon, J. U. (2004). America's Corner Store: Walgreen's Prescription for Success. John Wiley & Sons.
- Borja-Hart, N. L., & Leachman, B. G. (2016). Drug information resources used by chain community pharmacists in Tennessee. Journal of Pharmacy Technology, 32(5).
- Clauson, K. A., Fass, J. A., & Seamon, M. J. (2008). Legal requirements for drug information resources maintained by pharmacies. Drug Information Journal, 42(6).
- Media, F. (2020). Walgreens retail pharmacy. Retrieved January 28, 2021, from [website link].
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