CVS

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CVS Student’s Name Institutional Affiliation CVS Analyze the structure of the pharmacy industry. Identify the important drivers of competition in the pharmacy industry – i.e., what leads to success in each segment of the industry? The pharmacy industry has different segments that the players in the industry can decide to concentrate on. One of the segments is institutional pharmacies. It deals with provisions of drugs to institutions like hospitals for in-patient use. Players in this segment need to be very efficient, and price sensitive as these are the important drivers of competition in the segment. Another example of the segments in the pharmacy industry is retail pharmacies. Players in this segment concentrate on filling the prescriptions for their customers. Customer service is the major driver of competition in the segment because the firm deals with the customer directly. Mail order is the third segment. Players in the segment concentrate on filling prescriptions for patients who require access to larger doses on a regular basis. Pricing is the major driver of competition in this segment. Since a patient requires large doses, he or she will need to spend a lot of money, and this will make him or her price sensitive. Pharmacy services segment is the last segment. Players in the segment provide prescription drugs for different programs by the government, like the federal Medicare program. They also provide drugs for health insurers and large employers who self-insure their employees. Efficiency and prices are the drivers of competition here. The government needs to work with an efficient firm that does not charge a lot of money for the drugs.

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