While the news of Rite Aid’s bankruptcy may come as a blow to many across the country, it could mean good news for those concerned about the future of pharmacies and the availability of medications. With the major pharmacy chain’s bankruptcy, there are some serious implications for the future of health services, particularly those in smaller, rural communities.
The recent bankruptcy of Rite Aid means that the country should expect yet another wave of pharmacy closings – especially in rural communities. When a pharmacy chain like Rite Aid fails, smaller pharmacies in rural communities often face increased financial restrictions and risk being forced to shut their doors. Consequently, many rural communities will now be left without their primary source of medication and medications that may be necessary for seniors, people with disabilities, and low-income individuals.
Moreover, the bankruptcy of Rite Aid is also a strong reminder of the country’s dependence on big-box pharmacies, as well as a potential lack of accessibility to necessary medications. By relying on large corporate entities to deliver life-saving medication, the risk of critical drugs being in short supply increases drastically. That has already become a prominent issue for many people due to the shortage of key medications such as insulin and other drugs since the onset of the pandemic.
Despite the bankruptcy of Rite Aid, the country should remain hopeful that smaller community pharmacies can survive, especially as the Affordable Care Act protected access to necessary medications. But as with most regulation changes, the long-term results remain largely unclear. Ultimately, government and public health officials must work with the private sector to ensure that community pharmacies have the necessary support they need. Without a concerted effort, the availability of medications could become even more limited during a time when access to crucial drugs is already a problem.