What You Need to Know Before You Open a Pharmacy The pharmacy industry is a complex one. If you are looking to open a pharmacy, you need to be a master of both medicine and commerce. This is a guest post blog from our friends at PioneerRx. There isn’t a clear roadmap to go from […]
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The other USP your pharmacy needs to rule your market When pharmacists see USP, our brains automatically translate it to United States Pharmacopoeia. Which is a critically important USP for pharmacies. However, there is another USP that is vitally important if you are a pharmacy owner. Unique Selling Proposition, aka USP. This is a marketing
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While COVID will be sticking around, many of the patient financial COVID benefits will be going away soon. The COVID-19 pandemic has brought about numerous changes in the way we live and access healthcare. The emergency COVID measures that are currently active now have an expiration date: May 11, 2023. This means that in just
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What is the DIR Fee Apocalypse? Everything You Need To Know. DIR Fees are the bane of any pharmacy owner. Make sure you are ready for the changes coming in 2024. If you’re a pharmacy owner, you know DIR fees and how they can negatively impact the cash flow of your pharmacy. What many pharmacy
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Are you interested in getting more people into your pharmacy? While we often preach that volume does NOT equal profits, there is no denying that having more people enter your pharmacy sets you up for success. There are many strategies and tactics that you can use to increase your daily foot traffic into your pharmacy.
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ACOs are one of the many organizations that pharmacy owners can partner with to bring better patient care and increase revenues. In this blog, our good friend Kris Rhea from Biolyte will help us dive into ACOs and their impact on the independent pharmacy owner. About Kris Kris has been working in the independent pharmacy
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Doctor detailing is essential to your pharmacy’s growth and marketing strategy plan. Doctor Detailing Basics I often refer to doctor visits as dating. You’re dating multiple doctors, and each one has their personality. Some are needy, some like gifts, and some like to be left alone. Therefore, you must adapt the concepts in this article
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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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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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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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