Walgreens CEO Tim Wentworth said the company is continuing its mission to secure provider status for its pharmacists during a March 28 Walgreens' earning call for the second quarter of 2024.
Securing provider status would allow pharmacists to be reimbursed for providing patients with select services, Mr. Wentworth said.
"These are highly trained, clinical professionals, just five miles or less from most Americans whose scope of practice goes well beyond dispensing medications and includes immunizations, patient counseling, and point of care testing for infectious diseases," he said.
The company saw a nearly $6 billion loss in its second fiscal quarter, mostly attributed to the devaluation of its VillageMD primary care clinic chain investment. It also posted an operating loss of $13.2 billion in Q2, a contrast to the $197 million operating income seen in the same quarter of 2023.
Walgreens kicked off its first dean's advisory council meeting in early March to re-energize and evolve the community pharmacy definition, especially as pharmacy service demand increases as labor shortages continue.
"We are navigating a challenging backdrop, and exploring innovative pathways to boost profitability and growth," Mr. Wentworth said. "We are focused on creating an environment that makes us the practice setting of choice for pharmacists."
One of the company's top priorities is advancing the Equitable Community Access to Pharmacists Services Act in Congress, a spokesperson for Walgreens said in a statement shared with Becker's.
The bill would develop Medicare Part B direct reimbursement mechanisms for needed pharmacy services, including vaccination for common infectious diseases, testing and treatment.