You are here: Home / All

The most relevant and current collection of blogs dedicated to helping the independent pharmacy owner.

Section 179 Tax Deduction.

Smart Year-End Tax Moves: Section 179

/in , , /by

Are you thinking about purchasing new equipment to offset income or to begin expanding your services to improve your business? Make the purchase and install it by the end of the year to qualify for a Section 179 deduction.

Section 179 Tax Deduction.

Why Leverage Section 179?

The tax code is certainly a beast that many of us never want to think about and yet if you understand it, you can take actions that will benefit you and your pharmacy. Pharmacy automation improves operational efficiency while also expanding services. An investment in equipment is often the best step to improving automation. You can leverage Section 179 to help attain pharmacy automation at the lowest cost is possible.

What is Section 179?

Section 179 refers to a tax deduction that allows businesses to deduct the full purchase amount of qualified equipment in one large deduction rather than having to slowly depreciate the equipment over many years. For tax year 2019, this allowance can be as high as $1,000,000. This deduction goes directly against any business income for this year and if your deduction is higher than your income, you can carry any remaining deduction over to future years!

What kind of equipment will qualify?

Equipment will qualify at any price point, there is no minimum purchase amount. It also does not have to be new equipment; it just needs to be new to you. Since this is a business deduction, the equipment must be used for business purposes more than 50% of the time. If you want to take this deduction in 2019, you need to have the equipment installed in your pharmacy by December 31, 2019.

Are there any changes coming for Section 179?

While we can’t predict the future, the Section 179 deduction seems to be secure but it’s important to note that significant changes in politics can affect the tax code. Section 179 was recently increased from a maximum of $500,000 to its current level of $1 million.

Section 179 at a Glance

  • It can only be used to offset business income
  • The equipment must be new to you
  • It must be installed before the end of the year
  • Maximum amount is $1,000,000 for 2019
  • Any remaining amount not offset by 2019 income can be rolled over to offset 2020 income

RxSafe RapidPakRx Will Qualify for a Deduction

A popular piece of automation for independent pharmacies is the RxSafe RapidPakRx strip packager. Pharmacy owners choose this equipment because of its speed and small footprint. It also enables them to compete against Amazon PillPack by having their own compliance packaging service.

Priced at $175,000 ($165,000 for PDS members), it will certainly qualify for a Section 179 deduction as a business equipment purchase if installed by the end of the year. Time is running out but RxSafe still has the ability to take orders and get them installed before the deadline. If you would like to learn more about the RapidPakRx and how it can help you grow your business, please reach out to RxSafe here.

You can also learn more about Section 179 at RxSafe’s resource page.

Can you benefit from Section 179?

The answer is maybe. If you are getting regular monthly financials and having strategic calls with your accounting team then you probably know what your year to date income looks like. If you are not receiving accurate financials or pharmacy specific accounting advice, please reach out to our PDSfinancials team to discuss how critical financials are for you to make smarter business decisions and to operate your pharmacy at peak performance.

To help you get caught up with your 2019 financials, PDSfinancials is offering to rebuild your entire 2019 financials for free for all new PDSfinancials members in 2019 (a $10,000 value!). Even if you are not positive you have income to offset this year, you could still make those strategic equipment purchases that will help you produce a profit in 2020 because the Section 179 deduction is allowed to be carried over to future years’ tax returns.

You deserve to have the best insight into your pharmacy’s financial performance. Schedule a call with the PDSfinancials team to learn more.

patient getting a vaccine

Top Nine Steps to Starting an Immunization Program in your Independent Pharmacy

/in /by

Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce RJ Hedges, a company that provides HHS & Medicare turnkey healthcare compliance programs for independent pharmacy owners. Read on for their sponsored blog post about how to develop an immunization compliance program for your business.

patient getting a vaccineDeveloping a new niche for your business, such as an immunization program, is a great way to generate more traffic and increase OTC, retail, and prescription sales. Getting started may seem daunting and we want to show you that it’s easier than you think.

It’s time to get an Immunization Compliance program IF:

  • A physician does not sign your Standing Orders and Emergency Protocols
  • You and your pharmacy are not protected with all licensure, insurance, and compliance requirements
  • You need to provide a policy and procedure manual to your insurance company in case of an adverse reaction

We are here to guide you with the top nine steps to starting a vaccine program in your independent pharmacy.

Step 1: Check with your State Pharmacy Board

Every state has its own regulations. Your State Pharmacy Board sets standards and regulations for pharmacies to follow for immunizations. Contact your Board, or review their webpage, for your state-specific regulations, and to see what types of immunizations your pharmacy may be limited to.

Step 2: Sign Up for Immunization Training

Usually, to get your pharmacy immunization license, you, or the pharmacist who will be giving the immunizations, will need to attend an immunization course. These are typically provided by a local university’s School of Pharmacy, or in some cases, by your State Pharmacy Association. Once you’ve completed your immunization training, you’ll need CPR training and a CPR card, which you can obtain through the American Red Cross.

Step 3: Submit Your Application to Your State Board

After you or your pharmacist-in-charge has completed all the necessary training, fill out your application, and submit it to your State Board. Once they process the application, they will grant you an immunization license, and you are now ready to start moving forward with immunizations.

The immunization license approval process can range from three weeks to three+ months, depending on your state.

Note: All pharmacists must be licensed to give immunizations.

Step 4: Apply to Get a Medicare Part B Number as a Mass Immunizer

You can quickly expand your audience and get more traffic into your pharmacy by having a Medicare Part B number. Currently, in 2019, the fee is $586 to apply. This application gets processed relatively quickly, usually within a month.

Step 5: Get Your Immunization Documentation in Order

As “Compliance Experts,” we believe firmly in keeping your pharmacy in compliance to ensure the safety of your patients and to safeguard your license. Check with your State Pharmacy Board for their regulations or sign up for our Pharmacy Immunization Compliance Program.

Specific policies and procedures are not required by law but are highly recommended. Having an immunization compliance program in place will help you “dot your i’s and cross your t’s” when it comes to adding a new service to your business. Plus, having a compliance program significantly helps with accomplishing the next step, which IS REQUIRED by every state.

Step 6: Get Your Standing Orders Signed by a Physician

Talk to a physician and ask if they will sign your standing order. In most cases, if you have a good relationship with the physician, they will sign it. If you have an immunization compliance program, physicians are more likely to support your business and sign the order. Additionally, there are other entities, like some wholesalers, that have a physician on staff who will sign all of their members’ standing orders. Every standing order that you have needs a physician’s signature. We recommend that the physician signs the standing orders every year.

Note: If the patient has a prescription for the vaccine, standing orders are not required.

For the last three steps, be sure to visit https://www.rjhedges.com to download our full eBook.

Pharmacy Marketing - Welcome Sign

Pharmacy Marketing: Attract New Patients from Store Closings

/in , , /by

Last month Walgreens announced the closing of 200 stores. Last April Fred’s decided to begin closing 159 stores and stated that they were getting out of pharmacy. We also heard about Shopko going out of business. These changes in the industry mean thousands of patients will be looking for a new pharmacy and YOU, the independent pharmacy, are their best option. Therefore it is time to kick your pharmacy marketing into gear.

Now that the closings are underway this presents an opportunity to attract those patients. We thought it would be helpful to remind PDS members and the independent pharmacy community at large about the first steps to reaching (and attracting) these patients.

Pharmacy Marketing - Welcome Sign

Some of the action items below are repeats from our blog How to Leverage Big Box or Chain Store Closings back in in May of 2016 when Walmart announced their store closings.

At PDS we classify our pharmacy marketing efforts into three buckets: inside the four walls, outside the four walls and digital marketing. Within each of these groups, there are steps you can take to start attracting new patients.

Building these relationships and ensuring that your customers are happy within your own independent pharmacy business is very important. Below are three ways you can strengthen your skills towards more profitable relationships with your pharmacy’s customers.

Inside the Four Walls

  • Are you ready to take on more customers? If you were to bring in 100, 200 or 500 new patients, would you be able to accommodate them and provide excellent customer service? Your new patients need to see, feel and experience an unprecedented level of service. Make sure that you have a New Patient Process and New Patient Packet set up or updated.
  • Promote your Referral Program to your existing patients. Use your current patient base to promote the valuable services you offer.

Outside the Four Walls

  • As soon as you hear about a closing, make your first stop a visit the store’s management. They are probably concerned about their patients and by establishing a relationship with them, they will feel comfortable referring their patients to you. During your visit there may also be an opportunity to recruit some great talent.
  • Use traditional marketing techniques. Put up a banner outside your store stating that you welcome new patients. Send a direct mail postcard in your area.
  • There is some urgency to getting this done so lean into your local printer to get these materials produced quickly.

Digital Marketing

  • Use social media to reach new customers. Create a Facebook ad with photos of your team and your pharmacy that will be displayed within your target area. Be specific about the store closing and that you are welcoming new patients.

In your communication to these new patients, it is important to convey that their health and well being are your priority. Show them that you can offer quality care, convenience and competitive pricing. If you have an efficient medication synchronization program, promote the benefits it will offer them as a patient of your pharmacy. At a time when these patients need to make a switch, we have a great opportunity to show them that an independent pharmacy, your pharmacy, is the best place for them.

For PDS members, log into PDSadvantage to find the applicable pharmacy marketing resources in the Marketing section of the Knowledge Library that will help you win these new patients. The How to Develop Marketing Campaigns program, the New Patient Process, our Marketing Mastermind calls and the Make the Most of a Closing Competing Pharmacy are all available to you with additional detail so you can accelerate your implementation.

The Ultimate Guide to Independent Pharmacy Growth

/in /by
Read more

independent pharmacy customer service

How to Build Profitable Relationships and Create Customer Delight in your Independent Pharmacy

/in , , /by

Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce GRX Marketing, pharmacy marketing experts who offer customized solutions for your pharmacy’s unique marketing needs. Read on for their sponsored blog post about creating customer delight and building profitable relationships in your independent pharmacy.

Customer relationship management. A simple enough concept that focuses on just that; managing customer relationships. While every business, and person, has their own methods of customer interaction, the building and maintaining of profitable customer relationships is often the biggest piece that needs to be honed.

independent pharmacy customer service

According to a study conducted by SmallBizTrends.com, a 5% increase in customer retention can lead to an increase in profits of between 25% – 95%. Additionally, 47% of customers would take their business to a competitor within one day of experiencing poor customer service!

Marketers define customer value as the customer’s evaluation of the perceived differences between all the costs and benefits of competing companies. This is often the primary reason they choose your independent pharmacy, rather than anyone else.

Think about the stores that you are loyal to (grocery, restaurant, gas station, convenience stores, etc.). Why do you keep going back? Is it the prices, the products, services offered, location convenience, or is it the customer service? Why do you continue to use them, rather than any of their competitors? It’s because at some point, you decided to value them for what they have to offer. Now think about how much money you have given them over the years, compared to their competitors.

Building these relationships and ensuring that your customers are happy within your own independent pharmacy business is very important. Below are three ways you can strengthen your skills towards more profitable relationships with your pharmacy’s customers.

Three Ways to Gain More Profitable Relationships

  1. Be adaptable. Independent pharmacists know as well as anyone that no two customers are alike and even the same customer can be different week to week. No matter who you are talking with, be sure to be empathetic, patient and focus on delivering clear communication.
  2. Practice active listening. Active listening is a technique that is used in counseling, training, and solving disputes or conflicts. It requires that the listener fully concentrate, understand, respond and then remember what is being said. As it relates to independent pharmacies, active listening can lead to improved sales and patient adherence by constantly thinking about what each customer needs and what products or services you can provide to help them. Active listening lets you show your respect, support, and concern, and promotes trust between you and the customer.
  3. Provide a way for customers to provide feedback. In-store and email surveys are a great way to gauge feedback from your independent pharmacy customers. The good, the bad, and the ugly are all important to know so that you can continuously improve and avoid having unhappy customers voice their feedback publicly. By being open to suggestions and criticisms, you are showing your customers that you are listening to them and their concerns. More importantly, you are willing to change based on that feedback. Once you have developed those relationships, and customers continue to come back month after month, the next step is to ensure they stay happy. The easiest way is to simply go above and beyond whenever possible.

Examples of Going Above and Beyond for Your Pharmacy Customers

  • Start offering a rewards program
  • Send happy birthday messages
  • Start a new patient welcome program
  • Add little goodies to their bag when they pick up their medications
  • Offer one month free of medication packaging
  • Host a customer appreciation event

There are so many things that can be done to help create delight with your independent pharmacy customers. The bottom line to keep patients happy is to consistently deliver what you promise and then continually strive to deliver more. Any independent pharmacist can fill a prescription, but only the best goes above and beyond for their patients!

As fellow pharmacy owners, GRX Marketing knows what works! Over the past decade, we have perfected the art of developing, and implementing, marketing plans for each independent pharmacy’s unique needs. By customizing proven marketing tactics such as in-store, email, patient outreach, social media and more, our program allows pharmacy owners to focus less on marketing their business and spend more time on creating happy customers. Contact us today at www.grxmarketing.com or call 515-280-2914.

prescription bottles

USP <800> and the Steps to Comply

/in /by
hazardous drugs

Click here to get the most up to date information. Join us on November 7th for a live webinar on USP <800>.

<USP 800> is a new safety standard with the intent to minimize the exposure to hazardous drugs from healthcare personnel, patients, and anyone else coming into contact with these drugs written by the United States Pharmacopeia (USP) and the Food and Drug Administration (FDA)  

The standard regulates the practice and quality standards of handling hazardous drugs (HDs) to promote patient safety, worker safety, and environmental protection. Handling HDs includes but is not limited to, the receipt, storage, compounding, dispensing, administration, and disposal of sterile and non sterile products and preparations.

Since all pharmacy operations handle hazardous drugs, you must make sure your pharmacy complies with these guidelines by December 1, 2019 or risk your pharmacy license and your pharmacist-in-charge-license.

What Are the Steps to Comply With USP <800>?

With the December 1 deadline looming, we’ve broken down the steps needed right now for getting in compliance for USP <800>.

  1. Identify Hazardous Drugs (HDs) for their final dosage form
  2. Designate a hazardous drugs point person in your store
  3. Complete an Assessment of Risk annually
  4. Ensure hazardous drugs are dispensed or returned a minimum of nine months prior to expiration
  5. Training – Hazardous Communication, Spill control, competency

Let’s unpack the steps below so you can get a clear understanding of the actions you must take to ensure your pharmacy isn’t at risk.

1. Identify Hazardous Drugs for Final Dosage Form

Final dosage form is when a HD is packed by the manufacturer in a pill or capsule and the pharmacy only counts and repackages them. The existing practices you use to manage this workflow is most likely in compliance, however, there are steps you need to be aware of to comply with <USP> 800. You must segregate your HDs from your regular stock. The way you segregate these drugs, whether it’s on a shelf or a rack, is up to your discretion, as long as it is segregated and labeled as a “Hazardous Drugs Storage Area.” This applies to all pharmacy operations, whether you’re retail, long-term-care or compounding pharmacy.

How do you segregate?

  • You can start by referencing the National Institute for Occupational Safety and Health (NIOSH) list to know which drugs to segregate.
  • Ensure that your wholesaler is segregating your drugs when they come to you.
  • Inventory all your drugs. Document the hazardous drug name, whether they are a tablet, capsule, liquid, and if there is dust in the container.

Some of the HD’s that require more manipulation (if you’re mixing, splitting/crushing or pouring) may require a containment primary engineering control (C-PEC), which is a ventilated device designed and operated to minimize worker and environmental exposures to HDs. We get into more details on this device and how to segregate in our on-demand webinar, USP <800> and Your Pharmacy – What You Need to Know.

2. Designate a USP <800> HD Designee in Your Pharmacy

Assigning a point person in your store is critical to ensure proper processes and procedures are in place. This person should be your pharmacist-in-charge, a pharmacist, or your compliance officer.

3. Perform an Assessment of Risk

This is the most important step you must take as a retail pharmacy operation. An assessment of risk must be performed annually for every hazardous drug dispensed from the pharmacy and must, at a minimum, consider the following:

  • Drug Name
  • Type of hazardous drug
  • Contained in manufacturer’s packaging
  • What form is the hazardous drug in?
  • Is there any type of manipulation needed?
  • Assessment completed annually

Whether you write your own assessment of risk or find other resources online, the bottom line is that this document is not intended to be complicated. As long as you conduct your assessment of risk annually and you include the above information, you’re on your way to compliance. This document must be created between now and December 1, 2019 and must be renewed annually. In our on-demand webinar, USP <800 and Your Pharmacy – What You Need to Know, we detail the second part of the assessment of risk involving an alternate containment strategy plus more options for your pharmacy. Watch it here.

4. Ensure Hazardous Drugs are Dispensed or Returned a Minimum of Nine Months Prior to Expiration

Trace hazardous drug waste includes empty vials with dust or other HD residue in the containers. This type of waste must be disposed of in a licensed hazardous waste landfill. Expired HDs are also considered hazardous waste. Expired HDs are a black hole for money. Even if only one tablet is leftover in a bottle, the cost you pay to dispose of them properly is significant.

How do you solve this? In order to comply with USP <800> standards, you should pull hazardous drugs a minimum of nine months prior to their expiration date unless you are guaranteed to dispense within 45 days. If you cannot guarantee dispensing, you must return back to your returns company. You’ll also want to keep a lookout for the drugs you receive from your wholesaler. If they send you products that will expire within one year and it is a large amount you know you will not use, do not accept it from your wholesaler, otherwise you will get stuck with the waste and have to take steps to dispose of them. Watch our on-demand webinar, USP <800 and Your Pharmacy – What You Need to Know, for more information on hazardous waste and proper disposal practices.

Insider Tip: EPA and State Environmental Agencies are checking pharmacies now for ‘warfarin’ to see whether you are in compliance with the expired drug and whether it is listed as a hazardous waste. They will then ask if you have a hazardous waste generator permit, which you don’t need unless you generate >220 lbs per month. If you’re not educated, they will hit you with a fine. Be warned!

5. Training for Hazardous Communication, Spill Control, and Competency

In order to avoid fines or risking  your pharmacy license, you must know the intricacies of USP <800> and what it will impact. If you have a hazardous communication program and training (which is required by OSHA), it must be changed and updated to cover hazardous drugs and hazardous waste, per USP <800>.

Who Regulates What for USP <800>? A Quick Cheat Sheet

It’s easy to get lost with all this talk of hazardous drugs and related jargon. Here is a quick list of who regulates and enforces what.

  • Hazardous Drugs are regulated by the U.S. Health and Human Services
  • Hazardous Materials are regulated by the U.S. Department of Transportation
  • Hazardous Waste is regulated by the Environmental Protection Agency

Start Your USP <800> Compliance Process Now

This is not a hard problem to resolve if you start now. You don’t want to be in a panic in October when you have the fear of the USP <800> deadline around the corner. Luckily, PDS has your back! Below, you’ll find resources on how to properly manage your hazardous drugs before December 1st.

Hazardous Drugs and USP <800> Resources

Get the Clarity You Need to Run a Better Pharmacy

​Pharmacy owners are constantly hit with new rules, regulations and other seemingly endless​ circumstances that affect your business. Partner with a team who has your back and their ears to the ground! PDS can inform you when industry-related news, such as USP <800> will impact your business​ and show you your biggest growth opportunities​.

Click below to take the first steps to a better pharmacy.

cash inside a prescription bottle

Three Ways to Improve Your Cash Balance

/in , , , /by

If we were to ask independent pharmacy owners what makes their pharmacy run, many might say their inventory, their customer service or their rock-solid team who keep the ship afloat. While all of those are true, the undercurrent at the heart of these statements is money. Make no bones about it, your cash balance dictates your ability to pay your team (and by extension, their families) and whether or not you shudder at the thought of paying your wholesaler bill.

A large part of understanding the science behind profitability is knowing how your money moves through your business. Once you understand how it works and what financial statements you need to review then you will know what to do to improve your cash balance. Money in the bank means that you have a safety net to see you through those industry forces that impact your pharmacy today, such as lower reimbursements, DIR fees and GER contracts. 

As a pharmacy owner, you should be confident in your ability to:

  • Pay your wholesaler on time, every time.
  • Sleep at night knowing that your cash balance is on solid ground.
  • Keep the fear of making payroll a thing of the past.
  • Know how your money moves through your business.

If any of these statements hit home, read on for a few tips to get you on the track to financial freedom.

Better Outcomes, Better Profits

If you’re to increase your cash balance, you must understand that profitability follows great patient care. This is not something we tout as a feel-good story. We mean that if you look at your dispensing data to find where there are more effective therapeutic options for your patients which also offer higher reimbursements, this is a win-win for you and your patients.

Real-Life Application: One PDS member pharmacy consulted with their patients and prescribers to help their patients get the most effective drug available with their insurance. Without any changes to the total Rx volume, this pharmacy was able to increase their gross profit by $25,000 – all from one drug!

As you continue to analyze your data, you’ll start to

  • Discover more profitable opportunities
  • Increase your average margin dollars per prescription
  • Earn more profits without filling more prescriptions
  • Mitigate low-yield prescriptions
  • Build trust as a thoughtful, dedicated healthcare advocate

PDS offers our members access to our proprietary platform, RxAnalytics, a tool that can help you revolutionize how you see patient care and profitability. Fill out the form to learn how you can get a pharmacy performance analysis to know whether RxAnalytics is the right place for you to start.

Synchronize Your Way to Money in the Bank

The foundation for a profitable, high-performing pharmacy is a solid medication synchronization program. Many pharmacies don’t implement this program correctly; therefore, don’t see the benefits of improved workflow, reduced expenses, scheduled staffing, improved adherence, and opportunities for healthy patient interventions.

There’s no magic involved. You don’t have to be a “special kind of owner” to achieve results that impact your profitability so you can rest easy knowing your cash balance is on solid ground. Besides the patient, workflow, prescriber, performance, and marketing impact you gain from implementing a successful synchronization program, the direct financial impact is undeniable.

Your synchronization program should be able to:

  • Deliver more prescriptions per patient
  • Lower expenses per prescription
  • Improve inventory management
  • Allow for more effective staffing

You’ll see all of these benefits in your financial statements, and the numbers don’t lie. PDS offers a comprehensive training to equip owners with the tools and knowledge they need to properly implement this program and synchronize their way to better financials.

Get the clarity you need to be sure that medication synchronization, and the PDS exclusive member program SyncRx, is the right place for you to start. Fill out the form to learn how to get started with a pharmacy performance analysis.

Understanding Your Money

In order to move from the unknown to the known, you have to understand the health of your finances. Stop worrying over how much money you have in the bank and start by creating a plan of attack. PDS is offering a pharmacy performance analysis from an experienced independent pharmacy owner. In this analysis, we’ll show you:

  • A snapshot of your pharmacy’s performance in four key areas
  • The eight KPIs you should measure
  • The tools you need to move the needle

Take the next step to secure your financial freedom and leave the stress of making ends meet in the past.


​Learn About the Pharmacy Performance Analysis

​Ready to Experience Your Best Year Yet?

For over 21 years, PDS has helped Independent Pharmacy Owners ​​thrive. We're a team of experts dedicated to your success and who focus on your entire pharmacy. Click ​below to discover your pharmacy's biggest growth opportunities.

Three Steps to Get Your Team On Board With A Systems Strategy

/in , /by

If you’ve ever rolled out a new program that involved a systems strategy or even a new process in your pharmacy, getting your team’s buy-in and commitment is crucial if the system will succeed.

Your team will be the ones who will put your ideas into practice, taking the policies and procedures that you have created for your business and turning them into a force for growth. Give them the tools they need to succeed by giving them an implementation strategy to get them on-board and aligned.

Give Your Team an Implementation Strategy

If you want to get your pharmacy team on-board with your decision, you should give them a business strategy of their own — a process that they can use to implement those changes without constant oversight. Here are three steps that you can take to motivate your employees:

Step 1: Give Them Instructions

Like many independent pharmacy owners, you work with your pharmacy team to complete the day-to-day tasks that come with running a business. Your employees rely on you for direction, guidance, and support as they fulfill their responsibilities — and that becomes even more apparent when you make a series of comprehensive changes to your pharmacy.

Those changes will have a significant impact on their attitude, performance, and career trajectory, so you must make sure that they have the information that they need to adapt. When you create a policy and procedures manual for your new system, they can follow the instructions that are laid out in your workbook without worrying about the implementation process.

Step 2: Give Them an Incentive

Change doesn’t come easily, and some of your employees will push back when you introduce your new systems strategy. At that point, it will be more important than ever for you to have a series of incentives that will motivate them to change their behavior. We recommend a combination of paid and unpaid rewards — including verbal praise, competitions with prizes, commission and bonus plans, and strategies like the uRock Rewards Program — to get your team to buy into your new vision for your pharmacy.

Step 3 – Give Them Your Time

When you roll out your new systems strategy, you need to make sure that you continue to talk to your employees about your goals for your business, their responsibilities, and the benefits that they will receive when the implementation process is complete. You can use team meetings to discuss their progress as a group, and one-on-one performance review sessions to go over their achievements and opportunities for improvement as they put your systems strategy into practice.

Are You Ready To Create A New Systems Strategy For Your Pharmacy?

Download our free, eBook Surefire Systems for Sustainable Growth, and you’ll have what you need to know why, when, where and how to implement a systems strategy for your pharmacy.

Click here or below to download today!


​Download My eBook

Telltale Signs You Need A Systems Strategy For Your Pharmacy

/in /by

As an independent pharmacy owner, you’ve worn many different hats over the course of your career. You’ve filled prescriptions, counseled new patients and balanced the till in your cash register – you’ve done it all. After years of hard work, you can handle anything that comes your way.

But as your business continues to grow, you rack up more responsibilities than you can handle. If you want to build a successful pharmacy, finding an effective way to delegate those responsibilities to your team members so you can concentrate on the big picture is vital for growth. A systems strategy can help you create, test, and implement new procedures for your employees, saving you the time, money, and energy that it would take to do everything on your own.

Let Go of Stress

Stress comes free and aplenty with pharmacy ownership. Yet there are ways to diminish and mitigate the stress by focusing on what is within your control.

Here are three signs that you need a new systems strategy for your pharmacy:

1. You Are Doing Everything Yourself

Like many business owners, the last thing you should have to worry about are routine tasks that you can delegate to your employees. You may be able to “do it all,” but you shouldn’t have to!

Systems are best practices that have been captured, documented, and repeated. When you create an effective systems strategy for your pharmacy, your team members will have the information they need to complete those tasks on their own. That leaves you – as the owner – with more time that you can spend on the people, places, and activities you love.

2. Your Business Has Stopped Growing

When you started your business, you played a critical role in the day-to-day operation. As you gained more patients, you hired employees to help you manage your workload…but your systems – the procedures that you have developed to consistently and effectively complete those tasks – may not have been updated.

If you use your personal involvement as a substitute for an effective systems strategy, you will bottleneck your pharmacy’s growth before it is truly able to thrive.

3. You Want To Become More Profitable

Your systems strategy will have a huge impact on your bottom line! Marketing, client fulfillment, and cash management systems can transform the way that you run your business, and by extension, the way that your patients view your pharmacy. When you create, develop, and implement an effective systems strategy, your services will improve, your patients will respond, and your pharmacy will become more profitable over time.

Are You Ready To Create A New Systems Strategy For Your Pharmacy?

Pharmacy Development Services is the leading provider of business, leadership, and financial advice for independent pharmacy owners. Click here or below to download our free guide to creating surefire systems for sustainable growth!


​Download the Systems eBook Now

Grow Your Business at the Most Relevant Pharmacy Conference of the Year

/in /by

Every February for the last 15 years, pharmacy owners around the nation get their travel plans in order and prepare to make the pilgrimage to Orlando, Florida for the most relevant pharmacy conference of the year.

Attendees travel to the PDS Super-Conference for varying reasons:

  • They want to see their business grow faster.
  • They’re sick and tired of DIR fees and lower reimbursements.
  • They simply don’t know what to do or where to go next.

Whatever their reasons, our attendees come looking for solutions, and over the course of three days in Orlando, they get them, from exhibitors, speakers, and the PDS Team. This is why the PDS Super-Conference has garnered the reputation for providing pharmacy owners with solid, valuable, and often unimaginably successful growth for their pharmacy business.

​Pharmacy Owners With Purpose

​​Don't just take our word for it. Watch the short videos below to see two pharmacy owners speak to the value they receive from attending and the message they give to all thinking of joining us this ​year.

[WATCH] ​​Cliff Holt, Hurricane Family Pharmacy

Wistia video thumbnail

[WATCH] Josh Rimany, Dilworth Drug

Wistia video thumbnail

2:10

​Join Us at the 2020 PDS Super-Conference!

​Grab your seats and join us for ​our next event on February 27-29, 2020. Join us in Orlando, Florida for an immersive 3-days where you’ll get to interact with 1,600+ of the smartest pharmacies in the nation and the best experts in business. This is the event that will change your pharmacy. It is exactly the right content at exactly the right time your pharmacy needs it the most.

Click here​ to register ​and save on early pricing.

About PDS

Company Overview
Our Team
Careers
Press / Media
Podcasts

For Members

PDSadvantage
Training

PDS Events

PDS Super-Conference
PDSspeaks

Recent Posts

View PDS Blog

Let’s Talk

Or Contact Us Here

>