Adding or growing a point-of-care testing revenue stream is a fantastic way to increase your pharmacy profit. Here in the world of DiversifyRx, we have been knee-deep in point-of-care testing since we launched our new POCT on-demand course and our unique eight-week coaching program with Dr. Kristin Tallent. November is when peak testing season starts. […]
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Many pharmacy owners will need a source of working capital at some point in their ownership journey. Pharmacy Cash Flow Is Tight Recently we put up a poll on our LinkedIn and Facebook pages, asking pharmacy owners if they were interested in learning about financing working capital. The overwhelming response was YES, as many pharmacy
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While cases of monkeypox are currently on the decline, it is still vital to keep up to date on information. We have fielded several questions from pharmacy owners asking how they can support their patients to combat monkeypox. Let’s dive into monkeypox and your pharmacy and what you can do to help your community. Dr.
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When you have owned a pharmacy long enough, pharmacy legal issues are bound to happen to you. Types of Pharmacy Legal Issues for Pharmacy Owners Legal troubles can fall from many angles for pharmacy owners. Here’s a short list: Employment lawsuits Board of Pharmacy actions PBM audits PBM contracts Pharmacist dispensing activities Patient prescription fraud
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Chick-Fil-A (CFA) doesn’t make many mistakes. However, I noticed a big marketing mistake after a recent trip, and I see pharmacies make it all the time too. Butchering A Good Strategy Knowing a strategy and implementing it incorrectly is the same as not knowing at all. Proper implementation is the key to success. Mistakes made
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You can reduce your pharmacy’s reliance on PBMs by earning more revenue from clinical services. How is clinical revenue or service-based revenue defined? My definition of clinical revenue has two components: There are many examples of clinical revenue, such as MTMs, annual wellness visits, LTC consulting, food sensitivity testing, travel vaccines, and more. Many pharmacy
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Yes! We had a special Bonus Day event at the Pharmacy Profit Summit that focused solely on functional medicine and clinical-based pharmacy revenue and profits. Our 2022 Pharmacy Profit Summit was special as we added a pre-event Bonus Day. We gathered the leaders from functional medicine and clinical pharmacy programs to take attendees through the
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If you missed the Day 1 Pharmacy Profit Summit recap, you can catch it here. Day 2 was packed with even more speakers that gave critical information on how to grow your profits with various solutions. Let’s dive into day two and get the specific information you need. Dr. Lisa Faast Dr. Faast started by welcoming
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Thank you to everyone who joined us for the Pharmacy Profit Summit 2022! We are still amazed at the lineup of extraordinary speakers at the summit. Our event did sell out. We know that not everyone who wanted to attend could; even some with tickets got the dreaded positive test and couldn’t make it. In
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Independent pharmacies can play a significant role in helping local communities prepare for back to school. As most parents know, schools are a petri dish for all things contagious. From preschool to high school, students’ and teachers’ immune systems are tested each return of the school year. As a local independent pharmacy owner, you can
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