PBM Optimization

Nov 8 2021

5 Ideas To Increase Pharmacy Profit

By Dr. Lisa Faast | November 8, 2021 | 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 …

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Nov 4 2021

PBM Billing Compliance Essentials

By Dr. Lisa Faast | November 4, 2021 | 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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Oct 29 2021

NCPA 2021 Exhibitor Recap

By Dr. Lisa Faast | October 29, 2021 | Cash Based Revenue, Non-PBM Revenue, PBM Optimization

You shouldn’t do it alone, so why try? Learn about some of the great companies at NCPA 2021 and how they can help you reach your pharmacy goals. The NCPA 2021 convention was in Charlotte, NC, and it packed a punch of awesomeness. First of all, it was wonderful it was to see so many …

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Aug 27 2021

Monetize Your Pharmacy Data

By Dr. Lisa Faast | August 27, 2021 | Cash Based Revenue, PBM Optimization

Everyone else is monetizing your pharmacy’s data; shouldn’t you be too? The pharmacy data that independent pharmacies create daily is worth millions. Yet, pharmacy owners never see any of that money. Everyone else that collects and uses your pharmacy’s generated data sells it. What’s crazy is you even pay to send these companies your data, …

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Aug 26 2021

Pharmacy Immunizations Best Practices

By Dr. Lisa Faast | August 26, 2021 | Marketing, Non-PBM Revenue, PBM Optimization

All hands on deck!! The pharmacy immunization tsunami of flu and COVID 3rd shots is almost upon us. Is your pharmacy ready? Are you finally thinking of adding vaccination services to your repertoire? Adding vaccine administration to your list of pharmacy services is a great way to serve and protect your community while increasing your …

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Aug 20 2021

6 Secrets To Increase Pharmacy Profits From PBMs

By Dr. Lisa Faast | August 20, 2021 | PBM Optimization

If you want to increase pharmacy profits, then you must optimize your PBM-based revenue. Most independent pharmacies’ revenue comes through a PBM. In fact, it is normal for over 95% of a pharmacy’s sales to come from a PBM. This reliance on PBMs leads to almost all of a pharmacy owner’s headaches. Audits, clawbacks, DIR …

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Feb 3 2021

The Magic Of Compounding Bookmarks

By Dr. Lisa Faast | February 3, 2021 | Cash Based Revenue, Marketing, PBM Optimization

There’s no real pixie dust here, only a simple and highly effective tool for innovative compounding pharmacies. The Beginning Over 16 years ago, I was in the throes of opening my first pharmacy from scratch. I became interested in compounding after a PCCA training class while in pharmacy school. Before I opened my doors, …

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Dec 16 2020

How To Compete Against Amazon Pharmacy and Win Part 4

By Dr. Lisa Faast | December 16, 2020 | Cash Based Revenue, Non-PBM Revenue, PBM Optimization

Stop competing against Amazon Pharmacy (and other big-box pharmacies) because you are not in the same business they are in. Sure, you both sell prescription drugs, but that doesn’t mean you are in the same business. That would mean a drive-thru food joint and a steakhouse are in the same business because they sell food. …

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Amazon Pharmacy Independent Pharmacy Part 1

Nov 19 2020

How To Compete Against Amazon Pharmacy And WIN

By Dr. Lisa Faast | November 19, 2020 | PBM Optimization

Independent pharmacies can and should win against Amazon Pharmacy. On November 17, 2020, it happened. Amazon officially became a pharmacy with Amazon Pharmacy. How can you compete against behemoth Amazon? Independent pharmacies are the best sector to be able to do this. This 4-part series will give a new perspective and strategies you can …

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Nov 17 2020

To Be Direct Or Not To Be Direct

By Dr. Lisa Faast | November 17, 2020 | PBM Optimization

Have you considered having a pharmacy direct contract with PBMs? Getting a pharmacy direct contract is a hot topic because pharmacies are continuously getting squeezed with no end in sight. Should you change your PSAO affiliation? Would your pharmacy be better off with a direct contract? Only you can answer these questions. To help you decide, …

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Remote Patient Monitoring: Help Your Patients, Help Your Pharmacy

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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.