Get caught up with our most popular articles on PBM Optimization for independent pharmacy owners.
For most pharmacy owners reading this, PBMs are integral to your business as much as they suck the lifeblood from you and your pharmacy. The average pharmacy has more than 90% of its revenue flowing through a PBM. Therefore, you need to optimize that revenue stream if you want to squeak out all the cash and profits that you can from your business. That is why PBM Optimization is one of the critical profit pillars for independent pharmacy owners.
Here’s a recap of the 6 Pharmacy Profit Pillars:
- Cash-Based Revenue
- KPI Optimization
- Marketing
- Non-PBM Revenue
- PBM Optimization
- Team Development
You might be thinking there isn’t much you can do for your PBM-based revenue. While a lot of factors are beyond your control, there are actions you can take to optimize this critical revenue source.
Boost your cash reserves and secure your profits through the optimization of your PBM revenue.
Pharmacy owners can’t simply wait for customers to walk in and generate profitable dispensing revenue. It’s essential that you seek to increase your highest profit-producing revenue streams. And… because of the PBMs’ propensity for abusive audits and other tactics, you also need to play defense and be ready to protect yourself.
Our Most Popular PBM Optimization Blogs from 2023
2024 DIR Fee Changes – Let’s mitigate and optimize those DIR fees as much as possible.
Mastering PBM Billing Compliance: A Comprehensive Guide To A PBM Audit – A great self-audit to look at your PBM Billing practices and maximize profits while staying within the rules of the game.
Increase Per Patient Spending – One of the reasons you put up with the PBMs is to more easily service a larger number of patients. One way to think of PBM Optimization is to get the most you can from every PBM interaction, AND that includes selling other stuff to these patients.
No need to fret—we’re here for you!
We know the changes happening in 2024 are scary and confusing, along with extremely frustrating. You can WIN at pharmacy owners. Feel free to contact us anytime at info@diversifyrx.com or through our social media handles.
The DiversifyRx team is equipped to assist you across all aspects of your pharmacy operations. Unlike many other “experts” with limited approaches, we’re experienced pharmacy owners and industry experts ready to provide the guidance you require precisely when you need it. We invite you to check out Pharmacy Badass University.
Tune in next week as we recap the top blogs for Pharmacy Team Development Strategies.
