How To Have An Unlimited Pharmacy Marketing Budget
By Dr. Lisa Faast | | Marketing
Your pharmacy marketing should pay for itself! If you’re bleeding money in your marketing department, it’s time to revisit and realign your strategy. Don’t let your pharmacy marketing be a drain on your cash flow. You can stop worrying about marketing budgets being expensive. Instead, turn leads into customers and make money continuously. It starts …
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Pharmacy Marketing Lessons From Icons
By Dr. Lisa Faast | | Marketing
There’s a lot to learn from the lives of John Madden and Betty White. Here are some marketing lessons you can glean from their lives to apply to your pharmacy marketing. We lost some great people recently. The two most impactful for me were John Madden and Betty White. As I read many articles about …
How To Lower COGS
By Dr. Lisa Faast | | KPI Optimization
If increasing pharmacy profit is a goal, you need a lower COGS. What Is Cost Of Goods Sold (COGS)? The cost of goods sold (COGS) is the cost of an item or service that you sell. For pharmacies, it is critical to point out the COGS is NOT COGB (cost of goods bought). Because pharmacies …
Creating A Pharmacy Vision
By Dr. Lisa Faast | | KPI Optimization
What will your pharmacy look like in 5 years? You create your future by setting a pharmacy vision and planning your pharmacy goals. Bring your pharmacy vision, dreams, and goals to life! Setting a pharmacy vision and goals for your business is essential to creating profit and success. Knowing where you want to go provides …
What Is Profit
By Dr. Lisa Faast | | KPI Optimization
Profit is the key to staying in business. Understanding the types of pharmacy profit and what it isn’t will be critical to your pharmacy’s success. What Profit Isn’t Profit is not cash in your bank account, at least for most pharmacy owners. Remember this equation Profit ≠ Cash, and the reverse is true Cash ≠ …
Pharmacy Point of Care Testing in 2022
By Dr. Lisa Faast | | Cash Based Revenue, Non-PBM Revenue
Point of care testing (POCT) is a perfect additional revenue stream for all retail pharmacies. Let’s take a look at POCT for 2022. Boosting Cash-Based Revenues POCT for pharmacies took a giant leap forward during the pandemic. With HHS’ massive scope expansion for pharmacists to help with COVID leading the way, many pharmacies are now …
New Year’s Weight Loss Pharmacy Growth Strategies
By Dr. Lisa Faast | | Cash Based Revenue, Marketing, Non-PBM Revenue
Don’t leave money on the table by ignoring your patients’ resolutions for New Year’s weight loss. We are 35 days away from January 1st. I will wait while you pick your jaw up and catch your breath. Yep, it is coming fast. The wintertime has seemingly gone by quickly with testing, vaccines, Medicare plan optimization, …
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Pharmacy Cybersecurity In A Hack-Filled World
By Dr. Lisa Faast | | KPI Optimization
Having strong pharmacy cybersecurity is critical for every pharmacy owner. Cyberattacks and ransomware are on the rise, and you can’t afford to lose this battle. If you haven’t audited your IT security protocols lately, do it today! Cyber insurance coverage is essential these days, primarily because of the confidential patient data housed within your database. …
5 Ideas To Increase Pharmacy Profit
By Dr. Lisa Faast | | KPI Optimization, Non-PBM Revenue, PBM Optimization
Let’s dive into 5 popular ideas to help you increase your pharmacy profit. There is always a way to win. I firmly believe that. If you are struggling with low profitability in your pharmacy, there is a way for you to increase your profits. We just need to find you the right strategy. Each pharmacy …
PBM Billing Compliance Essentials
By Dr. Lisa Faast | | PBM Optimization
When 90% or more of your revenues flow through a PBM, you need to be sure you have 100% PBM billing compliance. Ensuring your PBM billing is compliant and following all the rules has become increasingly critical as audits continue to rise every year. PBMs frequently change their rules or change the interpretation of their …
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About DiversifyRx
DiversifyRx is dedicated to helping pharmacy owners kick a$$. We strongly believe the key to success is diversifying your revenue streams and maximizing each opportunity that is right for you. DiversifyRx was created by pharmacy owners for pharmacy owners. We have experienced a lot of triumphs and disasters and want to share our knowledge with you. This site contains affiliate links to products or services. We may receive a commission for purchases made through these links.
