Compass Core Pharmacy Offers Low-Cost Presriptions

WARWICK, RI — Pharmacists Amanda Petrarca and Gregg Jones, founders of Compass Core Pharmacy, have been delivering low-cost prescriptions at 80 Lambert Lind Highway for about six months.

The cash-only pharmacy, offering generic medications at a fraction of regular prescription costs, is the result of a team-up between Gregg Jones, former National Director of Pharmacy of the Future-Clinical and Business Solutions at Cardinal Health.

Jones wanted to try out a new pharmacy business model that would cut out the prescription drug middle-man, Pharmacy Benefit Managers (PBMs), to offer low-cost prescriptions.

PBMs were established in the 1960s to help insurers control prescription drug spending and manage benefits. The third-party contractors manage prescription drug benefits, writing formularies of preferred drugs, with different prices and cost-sharing amounts, influencing what people pay out of pocket and which medications their insurance covers, according to The Center for American Progress. Compass Core Pharmacy cuts them out of the pricing, similar to the model Mark Cuban uses in his prescription drug plan.

Small Pharmacy, Big Savings

At Compass Core, customers are charged the cost of the drug, plus a small, fixed markup to cover dispensing. It makes a big difference.

“They come to Compass Core Pharmacy and are able to save hundreds, if not thousands,” said Jones. He said they have their own sourcing methods for the drugs, including using Artificial Intelligence.

‘We’re not locked into Mark Cuban’s system,” Jones said.

When Jones began planning what would become Compass Core Pharmacy, he heard that Green Line Apothecary in Wakefield, RI had just shut its doors. Amanda Petrarca, Pharmacist in Charge at Green Line Apothecary, was looking to do something different in her next opportunity. Jones and Petrarca partnered, along with locals Michael McMann, a pre-K owner, and John Cillino, CPA, Esq., to bring Compass Core Pharmacy to life.

Catherine Lott, who had worked with Petrarca at Green Line, came on board as the store manager and head of merchandizing.Lott said the retail part of the pharmacy has a lot f local merchandise, also priced for cost-concerned buyers.

“We were really price conscious on things,” Lott said.

Petrarca said people who shopped at Green Line will find a lot of familiar items at Compass Core, and they hope to appeal to people who are ready, not just for lower prescription prices, but also the more personal approach of a traditional pharmacy.

“People do respect local and they want to support local,” she said.

Jones said the pharmacy also provides on-site testing that streamlines treatment for people with their prescriber – a physician, physician’s assistant (PA) or Urgent Care center. If they need to know whether they have the flu or strep throat, for instance, Compass Core can administer those tests and consult with a person’s care provider on what’s best for them, based on the test result.

“If they think it’s OK, we can dispense it right on the spot,” said Petrarca.

Not every prescription drug is available through their system, she said, but 90 percent to 95 percent of prescription drugs are available as generics, which allows them to offer them at reasonable rates, outside of insurance systems.

Prospective customers can consult Compass Core Pharmacy’s price checker online, or call the pharmacy at 401-530-6360.