Auburn PEMBA graduates transform pharmacy business trends into a worldwide case study

Students in Auburn University’s Physicians Executive MBA (PEMBA) program at the Harbert College of Business don’t just learn about business leadership, they create it. Four recent graduates—Valerie Dechant, Dana Owens, Marc Rothermich, and Zachary Tebb—demonstrated the program's impact by turning a semester-long classroom project into a globally available case study published by Ivey Publishing.

Their case, “CVS Health in 2024: Navigating Challenging Times in a Changing Industry,” dives into the strategic challenges faced by CVS Health, one of the leading competitors in the retail pharmacy industry. CVS has ventured into insurance and pharmacy benefits management alongside its core retail pharmacy business. The case highlights how the company’s leadership faces critical decisions amid evolving political, economic, legal, and competitive pressures. 

Produced as part of the foundational PEMBA class, Strategic Analysis in a Competitive Environment, the case gives students the opportunity to perform essential business analyses. It examines macro-economic, industry, and competitor forces, while also conducting a deep internal review of CVS’s strategic and financial strengths and weaknesses. This approach enabled the authors to combine both external and internal insights into a comprehensive SWOT analysis, culminating in strategic recommendations for CVS management. 

“Auburn’s PEMBA program stands out for its depth of analysis and is uniquely designed to cultivate the business expertise of practicing physicians,” said Frank Oprandy, executive director of Graduate Executive Programs. “Through courses like Strategic Analysis, our students learn to approach real-world business challenges with the same precision they bring to their medical practice. What truly sets this program apart is how it nurtures leaders capable of creating meaningful impact beyond the clinical setting.”

Dechant, Owens, Rothermich, and Tebb developed their insights under the guidance of Franz Lohrke, Lowder eminent scholar in entrepreneurship, with vital research support from Jennilyn Wiley, Auburn’s business and economics librarian. Together, they addressed key questions facing CVS, including whether its traditional pharmacy model, built on an extensive retail presence, can remain viable in the face of shifting industry trends such as increased online competition, legal challenges related to the opioid crisis, and industry maturity. 

“The case details how changing competition, customer characteristics, technology, and other strategic trends are impacting pharmacies,” said Rothermich, an orthopedic surgeon at Andrews Sports Medicine & Orthopedic Center. “Students analyzing the case must adopt the perspective of CVS’ top management and recommend how the company needs to adjust over the long term to maintain its historically strong competitive position in this industry.”

"This was a special opportunity to go deep into a corporation and industry that touches every aspect of healthcare delivery—from drug purchasing to insurance coverage to care delivery,” said Tebb, regional director of emergency medicine at Vituity. “Building something like this and learning from my fellow PEMBA cohort group members has been a gift.”

Auburn’s PEMBA program has a well-earned reputation for preparing physicians to excel in both medicine and business. The program isn’t just about gaining knowledge—it’s about applying it.

“The skills developed through case study methods are invaluable in decision-making under uncertainty—a challenge every business leader faces,” said Lohrke reflecting on the project’s broader impact. “Seeing Auburn’s PEMBA students contribute to global business education with this work is incredibly rewarding.” 

The case study, available to educators, researchers, and corporate trainers across 168 countries, serves as a valuable resource for sparking strategic thinking and critical analysis. It stands as yet another example of the innovative and impactful work cultivated within Auburn’s PEMBA program—a program that equips physicians to lead not just in the exam room, but in the boardroom. 

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