KPI Optimization

Pharmacy Profit Pillars

Jan 20 2022

6 Pillars of Pharmacy Profit – Top 2021

Having a thriving, successful pharmacy means you need to take an active approach to your pharmacy profit. Being average will not keep you in business – that’s what I always say. You need to be awesome! To succeed in the pharmacy world, you are continuously implementing new ways of doing things, and with the ever-changing …

6 Pillars of Pharmacy Profit – Top 2021 Read More »

lower cogs pharmacy

Dec 21 2021

How To Lower COGS

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 …

How To Lower COGS Read More »

Creating a Pharmacy Vision

Dec 14 2021

Creating A Pharmacy Vision

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 …

Creating A Pharmacy Vision Read More »

What Is Pharmacy Profit

Dec 7 2021

What Is Profit

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 ≠ …

What Is Profit Read More »

Pharmacy-Data-Security

Nov 15 2021

Pharmacy Cybersecurity In A Hack-Filled World

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.  …

Pharmacy Cybersecurity In A Hack-Filled World Read More »

5-ideas-to-increase-pharmacy-profits

Nov 8 2021

5 Ideas To Increase Pharmacy Profit

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 …

5 Ideas To Increase Pharmacy Profit Read More »

WTF-are-lead-and-lag-measures

Oct 14 2021

WTF Are Lead and Lag Measures

Going beyond KPIs and into actionable lead and lag measures. Let’s get real. It’s no secret that pharmacy owners and their employees work better together when company goals are crystal clear. A thriving pharmacy sets goals, identifies critical KPIs, and keeps track of successes and failures. Because the pharmacy industry is such a fast-paced business, …

WTF Are Lead and Lag Measures Read More »

3-critical-profit-KPIs

Sep 30 2021

Transform Your Pharmacy Profits With These 3 Critical KPIs

Can you dramatically improve your pharmacy’s profits in just 90 days? It is the start of a new quarter today. Are you happy with what you accomplished in the last quarter? Did you have ideas and plans, and then they got lost in the shuffle of the day-to-day of running your pharmacy? Most pharmacy owners …

Transform Your Pharmacy Profits With These 3 Critical KPIs Read More »

Quick Cash Flow Tips

May 20 2021

Quick Cash Flow Tips For Your Pharmacy

Cash flow crunches happen, and you need to know how to get through them.  Cash flow is extremely tight right now. No, I don’t mean in general; I mean for my pharmacy. In fact, we had a daily payment to our wholesaler get returned. Ouch!!! Why? Too many changes and acute circumstances. Here’s a shortlist …

Quick Cash Flow Tips For Your Pharmacy Read More »

Decrease expenses increase profits

Apr 28 2021

Increase Pharmacy Profits By Reducing Expenses

A dollar saved is a dollar in your wallet. The fast track to increase pharmacy profits is by reducing your pharmacy’s expenses. Many pharmacy owners are addicted to revenue. We like quoting to others how big our top line has become. Unfortunately, high revenue does not mean large pharmacy profits. In fact, for every $1 …

Increase Pharmacy Profits By Reducing Expenses Read More »

Recent Posts

Remote Patient Monitoring: Help Your Patients, Help Your Pharmacy

  • DiversifyRx

    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.

Follow us on Social Media

Scroll to Top