Since Bay Medical Center went private last year, management has been reviewing all aspects of the hospital's business practices. A renewed focus on streamlining services and maximizing profits means the end of a long-time business.
On Tuesday, Bay Medical announced plans to close its retail pharmacy on May 8. Hospital management has decided it no longer fits the facility's long range plan. "This is not a piece of core business," said Rick Smith, Vice President of Professional and Ancillary Services. "The pharmacy served a great population for a number of years [but] it's just not a piece of the business that is core to an acute care hospital."
Bay Med sold the pharmacy's assets, which included customer records and inventory, to CVS/pharmacy. All patient prescription and insurance information will be available at CVS seamlessly with no interruption of services, the company wrote in a news release announcing the transition.
The Bay Med pharmacy staff – the equivalent of ten full-time employees – must find new jobs. CVS spent Tuesday and Wednesday interviewing the hospital staff for possible employment opportunities. Several of those same employees have also interviewed for internal positions, Smith said.
The pharmacy's fate won't be shared by other operations in the new for-profit environment. "The other ancillary businesses… lab, imaging, rehab, things like that… are core to the hospital so there's no plans to look for outsourcing there," Smith said.
The space now occupied by the hospital pharmacy is on the ground floor of the Medical Office Building and is considered "prime" real estate. Bay Med management is looking at several options to fill it and Smith said it will likely be used for clinical space.