What Does a Costco Pharmacist Do in 2024?
As a long-time retail pharmacy advisor and industry analyst, I‘m increasingly receiving questions about the role of Costco pharmacists. With the company‘s continued growth and expansion of clinical services, it represents an appealing career option for pharmacy graduates and established pharmacists alike.
Steady Growth in Costco Pharmacies and Prescription Volumes
Costco has seen immense growth in its pharmacy operations over the last decade. According to the company‘s latest annual financials:
- Number of pharmacies has grown over 60% since 2013 to 839 locations currently
- More than 76 million prescriptions were filled in fiscal year 2022, up from 63 million in 2021
As shown in the table below, Costco‘s share of the retail pharmacy market has steadily increased even while competing with pharmacy giants like CVS and Walgreens:
| Year | Total Prescriptions | Market Share |
|---|---|---|
| 2013 | 463 million | 5.1% |
| 2022 | 761 million | 8.2% |
With plans to open at least 20 new locations with pharmacies in 2024, we can expect these metrics to continue rising.
Key Day-to-Day Responsibilities
As a Costco pharmacist, no two days will look exactly the same, which makes the job continually interesting. On a daily basis, you can expect to:
- Fill and dispense 400+ prescriptions accurately and efficiently
- Conduct drug utilization reviews and make clinical interventions
- Provide medication counseling and vaccine administration
- Oversee pharmacy inventory processes and troubleshoot issues
- Coordinate with doctors‘ offices regarding prescriptions
- Lead business forecasting, budgeting and strategic planning
- Maintain pharmacy facilities and equipment
- Stay current by reading professional journals and publications
The role involves significant patient interaction and collaboration with technicians and other pharmacists. Teamwork, communication skills and a passion for service are essential.
The Costco Advantage: Compensation and Career Growth
The table below compares average hourly wages for retail pharmacists at major national chains:
| Company | Avg Hourly Wage |
|---|---|
| Costco | $75 |
| CVS | $61 |
| Walgreens | $60 |
| Rite Aid | $58 |
With an average hourly wage of $75, Costco offers access to significant earning potential. On top of this, annual bonuses can reach up to $7,000 and many supplemental benefits are available.
And for those interested in leadership development, opportunities abound to progress into Pharmacy Manager or district/regional supervision roles. Costco is known for prioritizing internal promotion.
Licensure and Education Trends Worth Noting
Given PharmD programs‘ competitiveness, pharmacy license exam pass rates can provide helpful insight into the strength of different colleges.
Here are the top 3 pharmacy schools by 2022 NAPLEX (national licensing exam) first-attempt pass rates:
- UNC Eshelman School of Pharmacy (99.44%)
- University of Michigan College of Pharmacy (99.29%)
- University of Colorado Skaggs School of Pharmacy (98.8%)
As of 2023, 7 additional pharmacy schools are in development nationwide, which will further expand access and capacity for this critical profession.
Conclusion: An Rewarding Career Making a Difference
From speaking with current and former Costco pharmacists, the intrinsic rewards of meaningfully improving people‘s quality of life every day is a gift. By leveraging expertise to increase medication access and affordability, counsel patients on safe usage, and deliver life-saving vaccines, Costco pharmacists fulfill an invaluable role – and one that will only become more critical moving forward.
