2018 is the Year of the Independent Pharmacy Owner

If you’re a pharmacy owner and you missed the 2018 PDS Super-Conference, you left vast opportunities to grow your pharmacy on the table. That is the truth, plain and simple.

There were over 2,000 in attendance including the most progressive owners and professionals in the independent pharmacy industry. All of them piqued and ready to engage in the knowledge-sharing culture that has become synonymous with Pharmacy Development Services. Let’s break down PDS 2018.

Who Attends PDS’ Premier Pharmacy Business Conference?

To sum it up, they are life-long learners. Registering for a conference is easy, showing up is the next step, but it doesn’t guarantee value for your investment. Pharmacy owners that leave with new business insight and a clear understanding of what needs to be done once back at the grindstone have a singular quality that makes the difference between being in attendance and being truly present and engaged.

In the words of our leadership keynote speaker; they are Learn-It-Alls.’ Our most engaged attendees and successful members understand that…

  • There is hope and opportunity to grow in the independent pharmacy industry. Owners get frustrated by challenges facing their pharmacies such as DIR fees, below-cost reimbursements, and PBM abuses. Through thoughtful and active participation, the learners quickly realize that there is a way to make those issues irrelevant. Opening up to a new way of thinking allowed them to leave the show understanding that opportunity is right around the corner (and ready for the taking) when they focus on the factors within their control.
  • They are not the smartest person in the room. As Dan Benamoz is fond of saying, if he thinks he is the smartest person in the room, he’s in the wrong room! The people who attend are the top-performing owners in pharmacy who continue to climb because they know that they discover more growth by learning from each other. The PDS Learners ask questions, try new things, and empower their teams. The result is a thriving culture with an inspired pharmacy team operating at the top of their pharmacy license.
  • There is no competition among independents. We have a culture within the PDS membership that no independent competes with another. The heart of our mission is the idea that we lift each other up to reach new heights of success. After all, the more we help others, the greater our success will be. This credo is palpable at the conference, with so many of our attendees connecting and fostering beneficial relationships with each other.

Who Was on the Stage at The PDS Super-Conference?

We’re just bursting at the seams with pride on the caliber of presentations that graced the big stage on all three days. We can’t go through all of them here, but check out some of the highlights of the show:

  • John Maxwell | #1 New York Times bestselling author, coach and world-renowned leadership expert treated us to the Five Levels of Leadership. He was a huge crowd-pleaser and captivated the audience with crucial leadership principles every pharmacy owner should understand as they aim to grow into a better leader.
  • J.R. Martinez | “We all grow up with goals for ourselves…but sometimes we can’t take the most direct path to our dreams.” J.R. Martinez talked about how to adapt and overcome anything that life throws your way with resiliency, determination, and a sense of humor.
  • Earvin “Magic” Johnson | Wow, his presentation was “magic!” The attendees were riveted by his presentation on “The Winning Way,” where he taught us how to build and empower high-performance teams that support the vision of their pharmacies.
  • Steve Gutzler | One of the nation’s top thought leaders on emotional intelligence, personal transformation, and leadership development. This interactive and engaging keynote walked our PDS learners through the ‘How-To’ of tapping into their full potential and performing at the top of their game under pressure.
  • Jeff Philipp and Josh McJilton | Unveiling PDS’ new version of proprietary software, RxAnalytcs, Jeff and Josh revealed our show-stopper on stage. This new software will enable PDS members to truly get behind their business analytics to discover the clear path to profitable scripts. But you’ll have to be a member to test drive!

Don’t Just Listen to Us

The reviews are in! We’ve been fortunate to have a flood of positive feedback about PDS2018. Instead of us going on about it; we’ll let them tell you what they thought:

“You get so much out of being there and taking time to focus on yourself and your business. It is also great for networking and meeting like-minded people within our industry and learning new growth opportunities.”

“It is a no brainer. My mistake is that I watched the free webinars for 5-6 years and didn’t join sooner. The cost scared me off for years. I didn’t think it could be ‘worth it.’ I was wrong. PDS helps your financials tremendously, but it changes your culture and your quality of life even more. As pharmacists, we all make a bunch of money no matter what. It isn’t about the money, it is about seeing the change in you, your staff, your patients and your family. Just do it. You will thank me later.”

“Every independent pharmacy owner is leaving money on the table, and I believe the programs PDS has in place addresses that. “

“Don’t wait around any longer and expect opportunity and success to trip and fall into your lap — get up, surround yourself with the best, and go find it.”


Special Edition Pharmacy Podcast featuring Highlights from PDS2018
Conference Guest Todd Eury, with Pharmacy Podcast, interviewed conference attendees and PDS Founder, Dan Benamoz, CEO, Jeff Phillip, and featured exhibitor Wellgistics.

  • Hear more about why Bill Henning, Pharmacist and Owner of Giant Genie Pharmacy continues to not only invest in the PDS Super-Conference but has also started bringing key staff to attend as well.
  • Cliff Holt of Hurricane Family Pharmacy has been attending for ten years, in spite of his initial plans to sign up for only one year. Once locked into PDS value, he realized that membership is a key investment he couldn’t afford NOT to make.
  • Learn about the goal that PDS has to become THE catalyst for independent industry growth and how we will leverage the extensive network of independents and industry exhibitors to make 2018 the best year for independent pharmacy.

Listen below:

 

Watch it For Yourself!

Now you don’t have to leave profitability, stronger leadership skills, and an upshift on culture on the table. You can still watch the 2018 PDS Super-Conference from the comfort of your own home. We have the Livestream available for those who wish to purchase at a special price… and you can watch it with your team! But hurry, access to the Livestream ends on March 31st.

Click here to purchase the PDS 2018 Livestream!

[SMOKING GUN] You’re Right, PBMs are Duping Pharmacy Owners

PBMs Profits

What we’re about to show you will likely make your blood boil. It did ours. These are pictures you must see to affirm your sneaking suspicion that yes, you are in fact getting duped by PBMs, such as CVS Caremark.

The Proof

The images below were provided by a fellow pharmacy owner and were obtained during the process of filing a MAC appeal with the Medicaid HMO, Molina. Like many owners who bill to CVS Caremark, she noticed a consistent pattern of being underpaid on reimbursements. In response to the complaint, she received the following files which show the charges to Molina for the prescription, a stark contrast to what her pharmacy received.

Prescription Amount Submitted by Pharmacy Molina Paid Caremark Pharmacy Reimbursement PBM Spread
Guanfacine HCL ER 2 MG tablets ER 24H $320.00 $121.55 $7.60 $113.95
Neomycin-Polymixin-Hydrocor 3.5-10K-1 solution $106.00 $50.32 $5.40 $44.92

 

Images one and two show what Molina paid CVS Caremark for two prescriptions while images three and four show what the pharmacy was paid. This highlights the reality that pharmacies are regularly underpaid for prescriptions while the insurance plans are charged far more, and the PBM gets to keep a considerable spread of profits in their pocket.

We’ve also attached the documents for download here.

What This Means

There are approximately 22,000 independent pharmacies in the United States. If we looked at the Guanfacine prescription alone, the yearly payout to PBMs is $29,832,000 if the baseline assumption is that pharmacies nationwide fill this script once a month.

MAC list pricing by PBMs puts independent pharmacy owners at a considerable disadvantage. Adding insult to injury, the majority of the pharmacy owners on the PDSadvantage message board are in agreement that the appeals process is ineffective. A best-case scenario is periodic price adjustments depending on the appeal, which, in the long run, never affect changes in pricing for pharmacy owners as a whole. Overall, this process is designed to force busy owners to choose between below cost reimbursements or an endless cycle of appeals with little change in outcome. Many argue that the effort invested in submitting appeals isn’t worth it because the core of the problem isn’t addressed, and it takes up precious time that should be spent on growing the business, not in the pharmacy.

Fight Smarter, Not Harder

CVS Caremark and other Pharmacy Benefits Managment companies, such as the other 2 of the “Big 3,” OptumRx and Express Scripts, will continue to intentionally narrow the gap between reimbursement and acquisition cost while keeping the appeals process ineffective in the face of repeated price adjustments. This leaves independent pharmacies underwater. We at PDS don’t count ourselves among those who think fighting is futile. The answer is fighting smarter, not harder by making these issues and any other unfair regulations IRRELEVANT to how you operate your pharmacy business. Here and now, we can affect change that will make issues like unfair MAC pricing a blip on the radar. If we come together, our own collective and individual success will be exponentially greater than any threat the PBMs can sling. Filing appeals is a start, but alone it is not the answer. Informed pharmacy owners know that the focus should be on putting effort toward strategies that directly impact your bottom line.

Taking Matters into Our Own Hands, Together

There are over 1,800 pharmacy owners and professionals that know the value of fighting smarter with a proven plan, backed by a community that supports and stands with them. This gathering happens every February in Orlando, Florida.

Independent pharmacy owners just like you gather with the experts and titans of the industry to:

  • Give owners proven, sustainable strategies that will pay immediate dividends
  • Light the passion for pharmacy most owners lose in the landscape of this unfair game
  • Give you the confidence to battle MAC pricing, DIR fees, below-cost reimbursements and any other obstacle in your way – and win

Find your people. Fellow owners that are walking the same path as you. The value of this support and knowledge-sharing is priceless. If you’d like to continue to file appeals and disputes on your own, we commend you. At least you’re doing something and making your voice heard, but that is not your only recourse.

Attend the PDS Super-Conference and see for yourself why we are so confident in our ability to change your life that we have a conference guarantee.  If you don’t see the value of after the first day, we’ll reimburse your travel up to $500 and give you an additional $300 — no questions asked.


PDS Super-Conference

 

From Practice to Pro: Keep Your Pharmacy Winning

From Practice to Pro: Keep Your Pharmacy Winning

The road to achieving success is filled with hard-fought lessons, picked up along the way. Pharmacy school gave you formulas and drug interaction information, but left out the nitty-gritty of what you need to run a successful business.

This post won’t provide tips for filing claims or walk you through optimizing your pharmacy’s Comprehensive Medication Review template. Yes, that type of information is crucial to running a pharmacy business. However, we are focusing on some commonly overlooked pharmacy business principles from our keynote speaker, Earvin “Magic” Johnson that, if applied regularly, will keep your business winning in the game of independent pharmacy.

Continue reading “From Practice to Pro: Keep Your Pharmacy Winning”

{PDS 2018 Keynote #2} Business is a Team Sport

Business is a Team Sport

Friday the 13th Rules for Pharmacy Ownership

Friday the 13th Rules for Pharmacy Ownership

Friday the 13th Rules for Pharmacy OwnershipPharmacy ownership doesn’t have to be scary. Sure, the industry is filled with pitfalls and roadblocks, but there’s no need to fear! Here are four pharmacy rules to get you through this Friday the 13th and beyond.

You can survive and come out the other side with a thriving successful pharmacy.

Don’t Go Swimming

What does swimming have to do with running a successful pharmacy? What we’re trying to say is there is no need to jump into the deep lake in the woods when you don’t have the bandwidth or experience — aka if you aren’t ready to leave the pool you know. Focus on what you do exceptionally well and execute (chainsaw pun intended) to the best of your ability. Take the time to improve processes in your Synchronization program, create an excellent patient experience, provide the best customer service in town. Once you have mastered the skill of swimming in one pool, find yourself a new lake to conquer and repeat the process. Take on the lake of RxAnalytics or implement a Clinical Services program. Rushing to do more than what you are realistically capable of will only lead to trouble.

Don’t Run From the Killer if You Can Fight and WIN

There’s a lot of competition out there, but you can’t be scared to compete. The PBM’S, DIR fees, and big chain stores may be intimidating when they are staring you down, but there isn’t any reason for you to run. You have two secret weapons these competitors can’t offer and they will help you beat the competition every time. What is it that will help you succeed in the face of danger?

  1. SECRET WEAPON #1: You have a network of pharmacy owners out there just like you that are ready and willing to engage in a knowledge-sharing culture.
    Our industry-only message board generates hundreds of posts a week that address everything from technical challenges, to the best kind of shoes to wear when working the bench. The PDS Super-Conference is an exceptional opportunity to engage with the industry elite in person. Many are willing to share their wins, losses, tips, and tricks if it means keeping the industry moving forward.
  2. SECRET WEAPON #2: Your insider knowledge of your community.
    You know the healthcare needs of your area better than any box chain ever could, and this information can be leveraged to impact areas like your profitability, team building, and implementing new revenue streams. Next time you’re looking at a scary competitor, reach for the tools you have to stand up to those that want to see you fall.

If You Trip, Get Up and Keep Running

You can’t just give up when you’re being chased through the woods. Running a business isn’t fool-proof, you will make mistakes as you go. Spending your time and efforts on building prescription volume when you could be leveraging the data in your pharmacy is a mistake, and most pharmacy owners have made it. Some just lay down and accept their fate, but those that see success are the ones who got up and figured out where they should be focusing instead.

Don’t Split Up

Power in numbers. This is true in the horror movies and in the independent pharmacy industry. Our members are the top 25% of the industry, the cutting edge when it comes to pharmacy operations and profitability. In fact, some of our members have become such rockstars in the industry, they are training facilitators for PDS to teach their strategies to other owners. Our RxAnalytics program not only looks at your specific pharmacy data but puts it into the context of other member pharmacies. Independent doesn’t mean alone, our network of approved vendors, subject matter experts, and ever-growing industry-only message board keeps independents engaged and connected for long-term success.

Running your pharmacy business should be fun, not scary. If it’s scary for you, that is a red flag. Talk to us! We can help you lay down a plan to navigate your business to make it through the woods. Or better yet, talk to your peers on the PDS Advantage Industry Message Board (it’s free to sign up and start connecting!). They’ll tell you what we already know — there’s nothing scarier than the unknown.

Join Us at The PDS Super-Conference

Come to the place where the industry meets. This 3-day event is the only event dedicated to pharmacy business growth. Our amazing Lineup of speakers, experts and vendors will blow you away — not to mention the lifetime connections you will make with your fellow attendees. What are you waiting for? Click below to save your seat before we sell out!  Come see for yourself why we are so confident in our ability to change your life and improve the profitability of your pharmacy that we have a conference guarantee. If you don’t see the value of the PDS Super-Conference after the first day, we’ll reimburse your travel up to $500 and give you an additional $300 — no questions asked.

PDS Super-Conference

 

John Maxwell: Learn-It-All VS Know-It-All; Which One Are You?

Learn-It-All VS Know-It-All; Which One Are You?

John MaxwellAs an owner, what is your first instinct when you stare headlong into another business challenge? Do you immediately lay claim to a solution and disregard input from others? Or, are you the type who treats challenges as an opportunity for growth and improvement?

FACT: No leader can solve every problem or claim to have all the answers.

What they can do is harness one of the most important, yet underestimated skills in any professional repertoire. This skill is the underlying current of PDS; it is what drives us to excel. Our most successful members have grasped this concept and continue to run with it to grow their businesses to reach unimaginable heights.

For 2018, we are focusing on one of the most important lessons every successful member knows, and every entrepreneur should learn: Stay Coachable.

What does all this have to do with announcing our first keynote speaker? Simply put, everything. The exceptional speaker we are revealing has been communicating this message for nearly 40 years as a leadership guru and international keynote speaker.

We are bursting at the seams to tell you that our first keynote speaker who will grace the big stage at the 2018 PDS Super-Conference is the legendary leadership extraordinaire himself… John Maxwell!

John has become a household name and has stayed at the forefront of transforming millions of people into exceptional leaders. The core of his message perfectly aligns with PDS’ mantra: it is never too late to start living up to your potential.

How do you recognize if you are keeping a coachable state of mind?

John Maxwell has identified a few key identifiers to help you understand what makes someone coachable.

  • Coachable = Approachable | Someone that is coachable has to have a degree of openness and acceptance; they have to be willing to listen to things they may not want to hear, but they need to hear. They have to be willing to actively listen and apply knowledge without bias on where the idea came from.
  • Learn-it-all’s, Not Know-it-all’s | As the saying goes, if you are the smartest person in the room, you’re in the wrong room. If you’re running your business without consideration to the type of value others can bring to the table you are missing out on a wealth of information. Closing your mind to the knowledge and ideas others bring is equal to shutting the door on growth.
  • Shifting Gears: The Lynchpin of Leadership | The challenges will never stop, if you’ve been in business for more than a day, you’ve likely picked up on that lesson. What’s the key to managing it all? Shifting gears. Taking a critical look at yourself is just as important as taking an objective and analytical look at the situation. After all, is it possible that you could be the problem?

When we say that the PDS Super-Conference is the most important pharmacy business conference of your career, we aren’t exaggerating. The show we produce is a direct reflection of the PDS core values and is tangible in every aspect of our conference.

If you are a pharmacy owner, manager, employee, or in the pharmacy industry, you owe it to yourself to experience this conference that attendees have been calling year after year “transformational,” “magical,” “breakthrough.” You get the idea.

Don’t believe us? See the results yourself. Join us in Orlando, FL on February 22-24, 2018. You will not regret it!


Non-PDS Members: Our September Offer to You

PDS Members get the best pricing to the most relevant pharmacy conference in the industry. But that doesn’t mean we don’t have goodies for you too!
Register before October 1st, 2017 and use code: helloseptember to receive 25% off + our PDS RxMax Webinar Series. This series consists of three live webinars based on our top three PDS programs proven to drive traffic, profits, retention, and adherence. These programs are a successful pharmacy’s best-kept secret. — find out more info here or register below. Don’t wait until the price increases!

Already a PDS Member?
Get registered here: http://bit.ly/2xhPL04

PDS 2017’s Most Valuable Programs

UNconference
PDS 2017's Most Valuable Programs

If you’ve been paying attention to or attended the 2017 PDS All Star Super-Conference, you know that we unleashed some profit-rich programs and strategies that boast incredible ROIs to our attendees.

5 programs, in particular, have generated a buzz among independent pharmacies. These are:

  1. Tax Savings
  2. Data Mining
  3. Clinical Services
  4. Allerpac
  5. Pharmbuilder

PDS member pharmacies have the advantage of a complete guide and walkthrough to get started on these profitable programs. But now you can download the free 2017 MVP Summary to get the basics of how to get started on these 5 programs.

Keep your engines roaring for PDS 2017 and download your free MVP Summary today! This short, high-level summary will provide a basic recap of these 5 strategies so you can get more information on how to get started and any resources you may need.

> Download the 2017 MVP Summary 

Remember, these are only 5 of the many popular strategies we offered at the conference — and we intend to make them your most successful initiatives of 2017. Help us set you up for success and download the free report today!

Dreaming of February 2018? Reserve your tickets for the 2018 PDS Super-Conference today and take advantage of early ticket pricing!

 

{WATCH} The Pharmacy UNconference: The Most Important Pharmacy Event of Your Career

UNconference
  The Pharmacy UNconference

Come Sit at the Table

If you’ve ever attended a pharmacy event, tradeshow or conference, you know the drill. You’re fed clinical, sponsored education that focuses on the pharmacist, not the pharmacy owner. While clinical training keeps your gears oiled as a pharmacist, it does nothing to grow your business in the ways you need to stay viable.

We call our show the Pharmacy UNconference because if you have never attended our event, you will be blown away by our programming. Unlike any other industry event you have ever attended, this is 3 days with only the most progressive pharmacy owners and industry experts in one room. These presenters aren’t just speaking at you, they want you to know success, and they have all the ways laid out for you achieve — if you’re willing to take a seat at the table. Continue reading “{WATCH} The Pharmacy UNconference: The Most Important Pharmacy Event of Your Career”

Fast Track to Pharmacy Success: Speakers from the 2017 PDS All Star Super-Conference

fast track

Fast Track to Pharmacy Success“Helping pharmacy owners grow in an unfair game.” This has been the sole focus of PDS Founder and CEO, Dan Benamoz for 18 years since the launch of Pharmacy Development Services (PDS). After extensive planning and collaborating, we are ready to drive substantial changes in the independent pharmacy industry.

Our 2017 PDS All Star Super-Conference gave pharmacy owners the platform to start getting the results they wanted for their pharmacy. They heard from the top movers and shakers in the business who shared key strategies and insights for achieving entrepreneurial success. The 2017 Keynote Speaker lineup was made up of the biggest and brightest business leaders never before seen at a pharmacy conference. Attendees discovered the steps needed to take to achieve operational efficiency, build an excellent team, and increase their bottom line. Continue reading “Fast Track to Pharmacy Success: Speakers from the 2017 PDS All Star Super-Conference”

[Watch] Innovation Will Save Independent Pharmacy

Innovation is the cornerstone of development in any industry, and continuing to conduct business as you always have will not give you any competitive advantage in today’s market. In light of significant industry changes, independent pharmacy owners have realized that working to innovate, grow, and improve is not a matter of ‘if,’ but rather, ‘when.’

Pharmacy Development Services (PDS) is the only company of its kind with a dedicated research and development team whose sole objective is to develop innovative and efficient programs that give your pharmacy the competitive edge against corporate pharmacy giants.

The future of our industry lies in the hands of the innovators and problem-solvers. Are you ready to learn more about how PDS empowers you to innovate and rethink the way you look at a successful pharmacy business? Take the first step and sign up for the PDS 2017 All-Star Super-Conference in February. Don’t miss out on how we are planning to make it the best year in independent pharmacy yet.


The PDS All-Star Super-Conference is the pharmacy event of the year that is guaranteed to change the way you run your business. Join us for the next event in February! Click HERE to learn more about the PDS Super-Conference.