KPI Optimization

KPI optimization is critical to improving the performance of your independent pharmacy. If you don’t measure it, you can’t improve it—this statement has never been truer for pharmacy owners. Key Performance Indicators (KPIs) are the benchmarks of success, providing insights into your pharmacy’s performance and guiding smarter decisions. Yet, many pharmacy owners overlook this critical […]

Give your pharmacy profit a boost in the new year by finishing this year strong. As the year winds down, most pharmacy owners are thinking about holiday parties, family gatherings, and perhaps which cookies they can justify eating without too much guilt instead of their pharmacy profit. But for highly successful pharmacy owners? We’ve got […]

Pharmacy cash flow is still struggling even though the DIR Fee Apocalypse is over. Read on to get 7 practical tips to improve your pharmacy’s cash flow. Pharmacy cash flow is the heartbeat of your business—it keeps the lights on, the shelves stocked, and your team paid. However, in today’s pharmacy landscape, cash flow challenges […]

The pharmacy cash flow crisis for independent pharmacy owners is NOT over! Master these 3 KPIs and dramatically improve your cash flow before the end of the year. The so-called DIR Fee Apocalypse may be over, but don’t let that give you a false sense of security. For many independent pharmacy owners, pharmacy cash flow […]

Ensure your pharmacy valuation is as strong as it should be by understanding add-backs. I have been looking for another pharmacy to buy and thus have been doing a ton of pharmacy valuations along the way. It has been a great reminder that maintaining accurate financial records is a must. It is also important to […]

Effective pharmacy inventory management can make or break your business—and your bank account—in the ever-evolving landscape of independent pharmacies. As pharmacy owners, we know millions of dollars are tied up in inventory annually. How often have you stared at expired or slow-moving medications, realizing that your hard-earned money is gathering dust on the shelves? With MatchRx, you can seamlessly buy and sell short-dated and surplus medications, turning stagnant inventory into cash flow and reducing waste. It’s a powerful tool to help independent pharmacies optimize their inventory management and improve their bottom line.

Small Dispensers and the 6/12/2024 FDA Announcement Concerning DSCSA This week’s article on the recent DSCSA postponement comes from PRS Pharmacy Services. The original article can be found HERE. Join our next Awesome Webinar Series with guest legal guru JD from Real Value Rx to answer any questions you have about the DSCSA delay. The […]

This week’s tax-saving tips for independent pharmacy owners come from Sean at Integrity Pharmacy Consultants. I highly recommend Sean and his team if you are buying, selling, or transferring a pharmacy. See the original post HERE. Many people, including experienced attorneys and CPAs, are surprised to learn that an individual owner, shareholder, or member can […]

How to build a resilient and successful business, according to the great Charlie Munger. Many people influence us as individuals and as business owners. One such figure who has profoundly influenced my approach to business is Charlie Munger. Charlie Munger was chairman of Berkshire Hathaway and was one of the most successful businessmen along with […]

Moneyball is a fantastic movie on so many levels, and my business brain can’t help but glean pharmacy business lessons each time I watch it.  Imagine an industry in which the little guys, who are cash-strapped, have to compete against the big guys with seemingly unlimited budgets.  How is the little guy supposed to win?  […]