The high demand for the coronavirus vaccine is coalescing with ongoing disruptions to the labor market to overwhelm many of the nation's pharmacies.
Pharmacies across the country have seen daily vaccination rates more than double as Delta variant coronavirus tore across the United States. With the Omicron variant confirmed in California last week, many pharmacies expect foot traffic to increase through the winter (a season already associated with increased flu and cold infections). A dearth of job-seeking pharmacists and pharmacy technicians is only slated to make problems worse.
In addition to increasing foot traffic, pharmacies are expanding the number of services they provide to customers. Many pharmacists now counsel patients on chronic conditions and may spend as much of their day answering questions about vaccines as administering them.
This spike in demand has caused cracks to show already. Because of staff shortages, CVS (NYSE: CVS) stores are closing their pharmacy counters early, while Walgreens (NYSE: WBA) has been criticized for abruptly canceling appointments or closing pharmacies without warning.
The Biden administration has already set out plans to address a potential winter coronavirus surge. Some of the aspects of the President's plan may provide a bit of relief to pharmacies.
"My plan that I'm announcing today pulls no punches in the fight against COVID-19. And it's a plan that I think should unite us," President Joe Biden said last week. Biden noted that the White House's response would be vaccine and testing focused rather than lockdowns and restrictions.
The President's desired approach would put much-needed resources towards outreach and expanding access. While the plans don't include direct support to pharmacies, increasing government-run vaccine distribution efforts could relieve some of the pressing demand on pharmacies.
Resolving labor-related issues poses a more complicated challenge. While increasing pay and adding additional benefits could help attract new staff, the more significant pressures on pharmacists amid the pandemic may keep others at bay.