KPI Optimization

Sep 30 2021

Transform Your Pharmacy Profits With These 3 Critical KPIs

By Dr. Lisa Faast | September 30, 2021 | KPI Optimization

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 […]

May 20 2021

Quick Cash Flow Tips For Your Pharmacy

By Dr. Lisa Faast | May 20, 2021 | KPI Optimization

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 […]

Apr 28 2021

Increase Pharmacy Profits By Reducing Expenses

By Dr. Lisa Faast | April 28, 2021 | KPI Optimization

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 […]

Mar 24 2021

Tax Credits That Will Make Pharmacy Owners Excited

By Dr. Lisa Faast | March 24, 2021 | KPI Optimization

Ensure you know about these tax credits that many pharmacy owners have missed out on that are worth thousands. It’s that time of year again! No, not spring, tax time. As a pharmacy owner, you probably rely on a tax or accounting firm to file your annual taxes. You may be thinking, “Why should I […]

Mar 2 2021

6 Tax Tips For 2021

By Dr. Lisa Faast | March 2, 2021 | KPI Optimization

Death and taxes. The only 2 things that are certain in life and pharmacy ownership, so you need these tax tips. These six tax tips will help you jump-start tax preparation for 2021. For some often-overlooked tax credits, read this blog. Tax Tip #1 Maintain good business records If you have a year-round bookkeeper, this […]

Feb 27 2021

Business Plans for Pharmacy: Create A Business Plan Bankers Will Love

By Dr. Lisa Faast | February 27, 2021 | KPI Optimization, Marketing

Creating the right pharmacy business plan will set you up for success for years to come. This is an update to my original America’s Pharmacist Magazine article “Road Map For Success” published in June of 2011. Congratulations! You have chosen to join a special class of people known as independent pharmacy owners. Your journey from […]

Feb 24 2021

PPP Forgiveness By State

By Dr. Lisa Faast | February 24, 2021 | KPI Optimization

Here is the critical information you need to know about PPP forgiveness, and how you will be impacted as a pharmacy owner based on which state you are filing in. This information was originally published by the tax foundation HERE. The U.S. Small Business Administration’s Paycheck Protection Program (PPP) provides an important lifeline to help […]

Jan 29 2021

6 Business Lessons To Learn From Heroin Dealers

By Dr. Lisa Faast | January 29, 2021 | KPI Optimization, Marketing, Team Development

There are business lessons to be learned everywhere, and yes, even from heroin drug dealers. Unfortunately, heroin dealers know how to do business. Pharmacy owners can learn valuable lessons from these illegal business ventures and can easily implement similar techniques to improve their legal pharmacy businesses. I recently finished reading the book Dreamland by Sam […]

Jan 19 2021

Non-Retail Independent Pharmacy KPIs For Pharmacy Owners

By Dr. Lisa Faast | January 19, 2021 | KPI Optimization

Non-retail independent pharmacy niches are critical to your success. You deserve to know how you measure up. Get the metrics you need to know for your non-retail independent pharmacy or niches. LTC, Compounding, Clinical are just a few types of non-retail pharmacies or niches of your retail pharmacy. You shouldn’t be using the same benchmarks […]

Independent Pharmacy Innovative Solutions

Jan 15 2021

Independent Pharmacy Solutions Through Data

By Dr. Lisa Faast | January 15, 2021 | KPI Optimization

Independent pharmacy ownership is fraught with problems. Use your data to craft innovative solutions. What keeps you up at night? Cash flow? Profitability? Where to stash your extra cash? Ok, probably not the last one, but let’s make that a goal, shall we? You are not alone. Independent pharmacy owners are facing the same problems […]

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