Search Results: pbm optimization

lower cogs pharmacy

Dec 21 2021

How To Lower COGS

By Dr. Lisa Faast | December 21, 2021 | KPI Optimization
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 […]
Pet-Medications-Cash-Based-Revenue-Pharmacy-Profit

Sep 22 2021

Pet Medication Cash Based Revenue

By Dr. Lisa Faast | September 22, 2021 | Cash Based Revenue
Pet medication is now easier than ever to fill for your patients.  Have you ever wondered how you can get in on the 10 billion dollar pet medication industry? As a compounding pharmacy, I naturally filled the custom medications for vets. Those compounds, while profitable, are a small piece of the pie that exists for […]
Pharmacy Employee Bonus Program

Mar 24 2022

Ideas For Pharmacy Employee Bonus Program

By Dr. Lisa Faast | March 24, 2022 | Team Development
One of the most common topics coming up on our social media pages and inbox is employee bonus programs. Employee Bonus and Benefit Levers Retaining critical key employees is a secret weapon of uber-successful pharmacy owners. One of the best ways to keep your employees happy and therefore your patients happy is to adjust the […]
How To Monetize Your Pharmacy Data

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, […]
Low-cost Ways to Get New Pharmacy Patients

Jul 27 2022

Low-Cost Ways To Get New Pharmacy Patients

By Dr. Lisa Faast | July 27, 2022 | Marketing
Getting new pharmacy patients doesn’t have to be expensive.  Patients are the lifeblood of pharmacies. Whether you focus on dispensing prescriptions, selling supplements, or fixing hormones, you need pharmacy patients.  I am a huge fan of guerilla-style marketing. Over the years, I have perfected many tactics that work well for independent pharmacies as we want […]
Decrease expenses increase profits

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 […]

Oct 5 2022

NCPA Annual Convention Exhibitor Recap 2022

By Dr. Lisa Faast | October 5, 2022 | KPI Optimization,  Non-PBM Revenue,  PBM Optimization
Here are the 10 most exciting companies I saw at the 2022 NCPA annual convention.  NCPA held its 2022 annual convention in Kansas City. I know Ian kept some people home, as did some sickness. Fear not if you missed attending! I will recap the most exciting and profit-creating companies I saw on the exhibitor […]
at home covid tests

Oct 20 2022

Monetizing At-Home COVID Tests

By Dr. Lisa Faast | October 20, 2022 | KPI Optimization
Learn how to dispense at-home COVID tests for covered patients with no copay. And if you are already using this strategy, learn some boosting tips.  You Need To Dispense At-Home COVID Tests I ran into many pharmacy owners at the NCPA conference who were unaware that you could dispense up to eight at-home COVID tests […]

Mar 8 2023

Pharmacy Growth Strategy: Adding Delivery Service

By Dr. Lisa Faast | March 8, 2023 | Cash Based Revenue,  Marketing
Adding a delivery service can improve your pharmacy growth through new patients and increase your revenue per patient. As a pharmacy business owner, you’re no stranger to the daily grind of trying to find ways to boost your bottom line and keep your patients happy. But what if we told you there was a way […]
How To Maximize Pharmacy Profit Opportunities with Hair Loss Patients

May 12 2023

How To Maximize Pharmacy Profit Opportunities with Hair Loss Patients 

By Dr. Lisa Faast | May 12, 2023 | Cash Based Revenue,  Marketing,  Non-PBM Revenue
Hair loss will affect men and women and can happen at any age. Hair loss spending is over 23 Billion dollars annually (at least in 2021). Yes, that is Billion with a ‘B’. Your pharmacy could be missing its share of this enormous market because you aren’t targeting patients willing to pay cash for products […]

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    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.

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