PHILADELPHIA (CBS) – These days, flu season means big business for pharmacies, but not for the reason you may think.
Eric Keuffel, an assistant professor at Temple University’s Fox School of Business, says providing flu vaccines are a major shot in the arm to pharmacies.
“Pharmacies are an increasingly larger share of the vaccination market,” he explains. “About 12 percent of flu shots were administered via the pharmacy last year as opposed to physician offices, and this year the CDC (Centers for Disease Control) has increased what they call the ‘eligible’ population to anyone over six months of age.”
And he says pharmacies are doing lots of business because they offer a number of billing options to customers.
“They do both an out-of-pocket business for those who don’t have insurance, and they bill insurers for those that do,” Keuffel tells KYW Newsradio.
Only pharmacies with clinics staffed with a licensed physician assistant or a nurse are permitted to give flu vaccines to children.
Reported by Michelle Durham, KYW Newsradio 1060