KPI Optimization

Using Goodwill To Minimize Tax Arising From The Sale Of Your Independent Pharmacy

By Dr. Lisa Faast | June 21, 2024 | KPI Optimization
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 […]
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9 Lessons from Charlie Munger for Independent Pharmacy Owners

By Dr. Lisa Faast | May 13, 2024 | KPI Optimization
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 […]

Independent Pharmacy Business Lessons from the Movie Moneyball

By Dr. Lisa Faast | April 22, 2024 | KPI Optimization
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?  […]

Using KPIs to Improve Patient Care and Customer Satisfaction in Your Pharmacy

By Dr. Lisa Faast | April 18, 2024 | KPI Optimization
In the hustle of pharmacy management, providing exceptional patient care and ensuring high levels of customer satisfaction are top priorities for pharmacy owners. Here’s how you can break down tracking customer satisfaction to create more recurring and repeat business for your pharmacy. As a pharmacist or pharmacy owner, you already know the importance of delivering […]

Key Performance Indicators (KPIs) Every Pharmacy Owner Should Track

By Dr. Lisa Faast | April 11, 2024 | KPI Optimization
Key Performance Indicators (KPIs) are the important numbers that tell you how well your pharmacy is doing and point you in the right direction for where you need to focus your time and energy. Taking The Pulse Of Your Pharmacy With KPIs It’s really important to monitor the health of your pharmacy. By health, I […]
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Best of 2023: Pharmacy KPI Optimization

By Dr. Lisa Faast | February 7, 2024 | KPI Optimization
Your pharmacy’s data is the key to unlocking massive profit and success which is why it is so critical to focus on KPI optimization for every independent pharmacy owner. AH… DATA! I love it. And I know I am weird. It’s ok. I own my weirdness. You’ll thank me for it because I love helping […]

DSCSA Compliance for Independent Pharmacies

By Dr. Lisa Faast | November 24, 2023 | KPI Optimization
While DSCSA (the Drug Supply Chain Security Act) enforcement is postponed until November 2024, it is critical to move forward in becoming compliant sooner rather than later. In the world of running a pharmacy, patient safety is Everything. To achieve this, the U.S. pharmaceutical industry is wrapped up in a web of regulations, and one […]

The Importance of Gross Profit Margin for Pharmacy Owners

By Dr. Lisa Faast | October 20, 2023 | KPI Optimization
Gross Profit Margin is a financial metric that calculates the percentage of revenue left after deducting the cost of goods sold (COGS). In the context of a pharmacy, the revenue represents the total income generated from selling medications, healthcare products, and services

The Importance of Financial Forecasting for Pharmacies

By Dr. Lisa Faast | October 12, 2023 | KPI Optimization
If you are like most pharmacy owners, I am betting you don’t do any financial forecasting for your pharmacy. Let’s dive into why you should. Luckily for most pharmacies, business is steady from month to month. There aren’t typically huge swings in revenue. This stability is a double-edged sword. On the good side is predictability […]
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3 Critical KPIs for Pharmacies in 2024: Boosting Cash Flow

By Dr. Lisa Faast | October 5, 2023 | KPI Optimization
Can You Significantly Boost Your Pharmacy’s Cash Flow in Just 90 Days? As the new quarter begins, it’s time to reflect on your pharmacy’s performance in the previous quarter. Were your plans and ideas overshadowed by the daily grind of managing your independent pharmacy? Many pharmacy owners find themselves dissatisfied with their progress in the […]

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