If you haven’t noticed, there is a lot of construction going on in the drug store business. Everywhere you look you see a new drug store being built. Now if I were a betting man, I would say someone is either planning on doing a lot of business in drugs or we really are having a shortage of places to buy cosmetics, coolers, and plastic lawn chairs.
One can find every major drug store chain building and looking for spots in strip malls here in Western Pa, and I am sure in other parts of the country as well. Now these are not the Mom and Pop drugstores you may remember as a child, but the big chains such as Walgreen, Eckerd, CVS, and Revco; just to name a few. Massive stores that sell everything from camera equipment to Depends to Toe Nail polish with Pharmacies that feature drive up windows!
Seeing all of these stores being built and knowing someone out there is doing this to make money, I had to ask myself the next logical question; on average how much do you think you spend on medicine? You would be surprised as I was to find out that the average family of four spends close to three hundred dollars a month on medications! No wonder the pharmacist and checkout personnel know my name when I walk in there to pick something up.
For sure, the age wave of 51 to 65 year olds, which is sweeping through our time, demands medical attention. Our sheer numbers alone are a market that cannot be neglected. So given our numbers, why are there so many of us going without care? It’s simple, because most cannot afford it. Add to that the poor coverage many of us have who do have health insurance and you quickly become a bit nervous you might have an accident or suddenly need urgent care! Did you know a stitch as in you accidentally cut yourself now runs around two fifty per stitch? Don’t ask how dumb Geo knows that!
The latest movie to address the issue of course is “Sicko,” Michael Moore’s indictment on living in America underinsured and to broke to buy the best policy. To add insult to injury, HMO’s that were originally created to reduce rates though the power of group buying have now turned cost saving guns on the very people they were created to help. When HMO’s have to compete against private insurers willing to pay the high cost of new technology and soaring medical rates we loose.
Right now the under employed and working poor are the ones suffering the most. But when it all comes down to it, the boom we are witnessing in the drugstore industry may turn out to be a boom with a definite bust ahead. I wouldn’t get too excited about buying stock in one of these companies just yet unless you know something about national health insurance, I don’t! On the morning news one of the presidential candidates says the Democrats are going to make national health insurance an issue and reality when elected. You can only hope someone does!