Explore our Top 2022 recommendations for Optimizing Your PBM Revenue and Stabilizing Your Pharmacy Profits.
Last week we shared our Top 2022 Pharmacy Blog Post for Non-PBM Revenue, which covers our second Pharmacy Profit Pillar Non-PBM Revenue. This week we will recap the most popular blogs from 2022 that focus on PBM Optimization, our third Pharmacy Profit Pillar.
Here’s an overview of the 6 Pharmacy Profit Pillars:
– Cash-Based Revenue
-Non-PBM Revenue
– PBM Optimization
-Marketing
-Team Development
– KPI Optimization
While most pharmacy owners dislike PBMs, they are a part of our everyday business and the key to success. You can’t ignore them when about 90% of a pharmacy’s revenue is from a PBM. The exciting thing is… PBM Optimization will significantly impact your bottom line in the shortest amount of time for most independent retail pharmacies. This means focusing on this profit pillar can help you stack cash!
Stack your cash and stabilize your profits by Optimizing Your PBM Revenue
You must optimize your PBM revenue because it is such a large portion of your revenue so let’s get it organized for YOU rather than the PBM.
Here at DiversifyRx, we firmly believe that diversification is the key to success (it’s in the name!). Pharmacy owners can no longer rely on waiting for what happens to come through the door to generate profitable dispensing revenue. You must actively search out and nurture other revenue and optimization opportunities. If you are truly interested in learning how to expand your revenue streams outside the control of PBMs, we suggest you join us at one of our Pharmacy Profit Summits in Orlando in February or Dallas in August.
In the meantime, tuck the blog resources below into your resources folder and take a good hard look at your potential to improve patient care and create new revenue streams for your pharmacy.
Resources
PBM Optimization: The Third Pharmacy Profit Pillar – Let’s mitigate and optimize those DIR fees as much as possible.
PBM Billing Compliance Essentials– A great self audit to look at your PBM Billing practices and maximize profits while staying within the rules of the game.
6 Secrets To Increase Pharmacy Profits From PBMs – Now, I am not revealing the location of the Holy Grail her. But, to continue to serve your community at the highest level, you need to learn strategies to optimize PBM revenue so you can maximize the good and minimize the negative.
In A World without PBMs– Here are the top issues I see pharmacy owners struggle with that aren’t tangled up with PBMs.
To Be Direct, Or Not To Be Direct– Have you considered having a pharmacy direct contract with PBMs?
Don’t worry… WE GOT YOU! Reach out at any time to info@diversifyrx.com or contact us via our social media channels. As you focus on growing your pharmacy and making it more profitable, you might have some questions. The team at DiversifyRx can help you in all areas of your pharmacy. We aren’t just one trick ponies as many other “gurus” are. We are pharmacy owners and longtime industry experts that will give you the answers you need when you need them.
Tune in next week as we recap the top blogs for Pharmacy Marketing Strategies.
