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 #PDS2018!

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!

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. 

 

Use it or Lose it: The Little-Known Pharmacy Advantage

Use it or Lose it: The Little-Known Pharmacy Advantage
The Little-Known Pharmacy Advantage

 

When positioning your pharmacy business for success, an oft-ignored variable is who you align your business with from the start and into the future.

We guide our PDS members to make smart, well-informed decisions on everything from increasing profitability, financial literacy, leadership and culture, pharmacy processes, marketing and more. We position these same lessons on the backs of thoroughly vetted industry vendors who make the vision become reality.

After all, we’re not going to encourage a pharmacy owner to tighten up their inventory or delve into alternative pain treatment without recommending the right solution partners to see them through the finish line.

At the PDS Super-Conference, finding value here is only limited by your willingness to implement with intent to win.

We have aligned ourselves with only the top industry vendors who have proven that they can drive profitability and sustained growth specifically for pharmacy owners

Don’t believe us? Here are real results our attendees received from partnering with our PDS Super-Conference Exhibitors:

  • Reduced one owner’s annual insurance premiums by over $7,000
  • Eliminated a $500,000.00 tax bill
  • Started with $570,000 worth of inventory and quickly brought that down to $400,000
  • OTC sales increased 15% first year, then 25%, the following year
  • Increased sales in a way that is beneficial to customers
  • … and countless more from attendees who prove the quality of our vendors time and again

We guarantee you will find a vendor you love.

In fact, 90% of the previous year’s attendees polled agreed that they found new suppliers they wouldn’t have otherwise considered using.

On the flip side, the enthusiasm and energy of attendees plays a large part in why headlining sponsors keep coming back, year after year. Owners arrive ready to find solutions and make decisions. We wouldn’t have the backing of the most credible companies in pharmacy time and again if they didn’t enthusiastically agree that the conference program, attendees and dynamic is nothing short of powerful.  You can view our latest exhibitor lineup here.

Our exhibitors drive profits and business growth. But here are 3 more reasons why you need to come check out our lineup for yourself:

  • Finding New & Innovative Products — Your pharmacy is much more than a prescription filling center. It’s important to identify innovative products that add value for your customers. The last thing you want is to invest in a product that sits on your shelf. At the PDS Super-Conference, you can expect to connect with high-quality product exhibitors that immediately add value to your store and increase your profits.
  • Keeping Up-to-Date with Pharmacy Regulations — Regulatory and compliance issues may give most owners a headache, but it can’t be ignored. Staying on top of regulations before you get flagged is time-consuming, and most pharmacy owners cannot afford to devote as much time needed to managing this aspect of the business.
  • Discovering and Implementing Cutting Edge Technology — The pharmacy industry is an ever-changing landscape that owners cannot afford to ignore. Staying on the cutting edge doesn’t have to be hard or a hassle. You will find easy to implement tech solutions to streamline your pharmacy processes at the PDS Super-Conference.

PDS understands that managing all the aspects of your pharmacy and vetting the most efficient solution partners is stressful and time-consuming. That’s why we did it for you! Don’t reinvent the wheel and check out our latest lineup for proven ways to increase efficiency, create value, and provide your team with the tools they need to excel and win in an unfair game.

No other conference puts the industry’s leading exhibitors in the same room as the top pharmacy entrepreneurs for three and a half days to focus on creating profitable outcomes and identifying actionable solutions.

It’s time to forge long-term relationships with proven solution partners for next year and beyond. Join us for the next event in February! Click below for details.

PDS 2018

 

[WATCH] Master Pharmacy and Business School in 3 Days… and Launch Profitability

special message below from Dan Benamoz

Here’s a truth: Pharmacy schools across the nation let young graduates loose into the world with a shiny degree, but woefully inadequate business skills.

For those pharmacists who seek to become owners themselves, these same lack of skills become painfully apparent when faced with the process of starting or buying a pharmacy then operating to maintain the processes, sustain growth, increase profits and deliver better patient outcomes.

If you’re at all concerned with decreased margins, DIR fees, clawbacks and the unfair game that is pharmacy ownership, you cannot afford to miss this event. Continue reading “[WATCH] Master Pharmacy and Business School in 3 Days… and Launch Profitability”