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”

You failed… so what?! 5 pharmacy tips from Dr. Nido Qubein

5 pharmacy tips from Dr. Nido Qubein

Nido-2017.jpgFrom pharmacy school, to the whirlwind of pharmacy ownership, there will always be bumps in the road — and no pharmacy owner is immune.

Whether you just discovered that you wasted thousands of dollars on the wrong pharmacy software, your team is showing signs of toxicity, or even if you’ve just now realized that not having enough cash can kill your business, you’re not alone in learning these hard lessons. Many owners would throw in the towel, especially if they have made a significant investment that went under. Whatever problems plague your business, there is always hope.

Dr. Nido Qubein has a few tips to share with those pharmacy owners who feel as if they have reached rock bottom because there is always a way to turn your luck around. He is a firm believer that out of adversity, abundance can emerge. You just have to recognize it and seize it. The following are his tips to implement that will start a ripple effect of greatness within your life and business.

  1. Walk hand in hand with great people. This is no novel concept — you are who you surround yourself with. A key strategy to reach peak potential is to surround yourself with great people. After a time, those people will impart their successful habits and ways of thinking onto you.
  2. Out of adversity, comes abundance. Dr. Qubein believes that if you’re afraid of failure, you’ll never try success… and if you’re afraid of failing, you may not be worthy of it. Those who have failed significantly and risen above can speak to this fact: that they have found more opportunity in their darkest periods than they have by playing it safe.
  3. Plant the seeds of greatness in not only the minds, but in their hearts and souls of your team. In fact, do it with everyone you meet. When you walk through life and empower people to further themselves toward success, this will not only enrich their lives, but yours as well.
  4. Tell your story, tell your journey. When you put the human element behind your message, it inspires others to take action.
  5. Focus on value, not income. If you focus on rendering value, not on generating income, the doors of opportunity open up in ample supply.

Dr. NidoQubein, one of the keynote speakers at the 2017 PDS All Star Super-Conference, has made it his life’s mission to live in service of others. This mindset has created a life of abundance for him and opened a world of opportunities, such as becoming an educator, business leader and author. Today, he is president of a leading university and chairman of a national retail company — and one of the most sought-after leadership speakers on the professional circuit.

At the 2017 PDS All Star Super-Conference, Dr. Qubein shared his own story and his ideas and strategies for succeeding through even turbulent times. His presentation was dynamic, authentic, entertaining and delivered a powerful, inspiring message on finding focus, balance, and meaning in business, and in life. His presentation was a crowd favorite, if you attended, you saw many people on their feet waiting to greet him.

Missed the show? No worries! Join us for the next event in February! Click below for details.

PDS 2018

3 Surefire Ways PDS 2017 Will Add Value to Your Pharmacy

PDS 2016

PDS Conference 2016.jpg
Attending any pharmacy conference is an investment that should be weighed against the potential ROI. Before purchasing a ticket, ask yourself if it is worth the time and money to attend and how the event will add value and increase profits for your independent pharmacy.

This is where the 2017 PDS All-Star Super-Conference comes in — finding value here is only limited by your willingness to implement with intent to win. The enthusiasm and energy of pharmacy owners while in attendance is a major reason why headlining sponsors keep coming back, year after year. Owners arrive ready to find solutions and make decisions. The relationships created between exhibitors, and business owners are invaluable when it comes to solving problems and driving profits for pharmacy owners. Continue reading “3 Surefire Ways PDS 2017 Will Add Value to Your Pharmacy”

Moneyball’s Paul DePodesta Brings Data Analytics to PDS2017

600x125.jpg

Data Analytics For Pharmacy owners

We have said this countless times before; pharmacy owners play an unfair game. This isn’t just a maxim we tout to tug at your emotions. The unfair game is the core of why we wake up every day to champion pharmacy ownership. If you think you’re doing okay or getting by just fine, check out some of our pharmacy owners who are nailing data analytics among other strategies and winning the game.

Our winning strategy for lasting success is and always has been, an introspective one. The chances are that any deterioration on the outside will indicate a decay within. What is the first thing you look at when you start assessing your pharmacy business opportunities? Your team, customers, pharmacy data, financial statements, even yourself, should all be audited and tested to bat.

This is why our PDS2017 Keynote speaker is so relevant to our cause.

Paul DePodesta Has Made His Name Creating Actionable Strategies
Based on Data Analytics

During the show, he will get attendees to rethink how their system works by asking what Paul calls the naive question, ”If we weren’t already doing it this way, is this the way we would start?” By applying an analytics-driven mindset to common pharmacy issues, Paul will help PDS Super-Conference attendees rethink:

  • The idea that prescription volume equals pharmacy profits. Would you rather fill 100 scripts at $5 each or two scripts for $250?
  • The tools of the trade. Would you rather keep guessing at who your best customers are or experience tools that will revolutionize the way you visualize your data to target your plan?
  • The resolution that pharmacists must accept any customer and prescriptions that walks through the door. Wouldn’t you rather control where you get your profits instead of being at the mercy of the cash register?

For those unaware of why Paul is a results-driven analytics titan, he is the inspiration for the Moneyball Methodology used in the major motion picture “Moneyball,” starring Brad Pitt. Sound familiar?

He served as Assistant General Manager of the Oakland Athletics from 1999 to 2003. At the time of his hire, Oakland was one of the worst teams in the league, coming off of six losing seasons while posting one of the lowest payrolls in baseball. In an industry entrenched in ingrained thinking and outdated systems, the stagnant team needed the unique management and creative approach that A’s GM Billy Beane and Paul DePodesta brought to the table.

By Paul’s final four seasons in Oakland, the A’s won more regular season games than the New York Yankees, who during the same period spent $350 million more on player payroll than did the Athletics. By his unique approach and commitment to leverage data to maintain a level of unimagined success, he and Billy Beane revolutionized the way baseball teams are built. His work has been recognized by various publications, including Fortune, who named him one of the Top 10 innovators under 40.

At PDS Super-Conference, we’re not just going to make you more money. We’re going to revolutionize the way you see your pharmacy to get you fast results you have never dreamed were possible. Pharmacy data analytics is available to the independent industry and PDS is helping owners stay competitive in an increasingly challenging business landscape.

PDS Super-Conference

 

 

3 Takeaways from the 2016 PDS Super-Conference

Super Conference
 The 2016 PDS Super-Conference was our best annual event to date! From the moment the doors opened, the energy was palpable. With 110 best-in-class exhibitors to the awesome keynote speakers like Kevin O’Leary, Michael Michalowicz, Jim Kwik, Jenn Lim and Mike Robbins, all of the components for a game changing three days were in place. But there is one element that makes our event stand out from all the others – YOU!

The hundreds of pharmacy owners and staff members who graced the stage and sat in the audience sharing ideas and plans are what made PDS 2016 unforgettable. Our growing network of leaders in independent pharmacy is powerful enough to transform the industry. Our award winners, Showcase of Success presenters and panels of experts shared success stories related to everything from synchronization and pharmacogenomics to clinical services and team management. Continue reading “3 Takeaways from the 2016 PDS Super-Conference”

PDS Announces All-Star Lineup for 2016 Business Growth Conference in Orlando

PDS_02-19-15_1049.jpg

 PDS Announces All-Star Lineup for 2016 Business Growth Conference in Orlando

Every year, PDS visionary, Founder, President and CEO, Dan Benamoz, personally selects the most impactful keynote speakers, topics and exhibitors to join us in Orlando for the annual PDS Super-Conference. The 2016 lineup is our best ever with business gurus and trailblazers slated to speak on topics like team leadership, pharmacogenomics, wealth management, pharmacy sales and marketing.

A special invitation from Kevin O’Leary of ABC’s Shark Tank:

10 Reasons to Attend Independent Pharmacy’s Premier Event This Year

PDS_02-19-15_1075.jpg

Independent Pharmacy’s Premier Event

Every day is filled with difficult choices, but choosing which industry event to attend should be easy. The 12th annual Together Toward Tomorrow Independent Pharmacy Business Growth Super-Conference is right around the corner. From February 25-27, 2016, our nation’s most successful and up and coming pharmacy owners will come together to learn compelling solutions and new executable ideas that will set the stage for continuous growth in the year ahead. Today, more than ever before, we must possess the ability to foresee and welcome industry changes as they come – armed with the solutions that will help us win. With that in mind, here are ten reasons you should attend pharmacy’s main event, PDS 2016.

PDS_02-19-15_1075.jpg

1. Three Eye-Opening Days

The 2016 Super-Conference is unlike any industry event you’ve ever experienced. For three days, you’ll step into a space that will give you the right tools to generate ideas and strategically plan your business operations in a way that can’t be done anywhere else. We will dare you to think bigger and better than you ever have before, to seek opportunities and challenge the status quo.

2. Ready to Implement Ideas

What small change can you make that can pay huge dividends right now? The concepts presented at this event will teach you how to operate your business from the position of clarity and control. Our speakers will share their strategic leadership, business management, finance and marketing tools to set the groundwork for your very own robust business model. They will inspire empowered financial decision-making through every stage of the business life cycle.

3. Inspirational Speakers

We’re bringing luminary speakers from pharmacy business management and beyond to inspire you, help you infuse new ideas into your business and provide insight into how you can keep your money where it belongs – in your pocket! Click here to learn more about the 2016 lineup of keynote speakers, which includes Kevin O’Leary from ABC’s Shark Tank.

4. No Clinical Programming

We know that you don’t need another course on diabetic footwear. At the PDS Conference, topics include wealth management, pharmacy leadership, employee development, customer service and culture, increasing pharmacy sales and pharmacy marketing… just to name a few. If you don’t walk away with at least five executable money-saving and money-making ideas, you weren’t listening.

5. Leading Industry Vendors

Connect with the 100+ world-class exhibitors who will deliver state-of-the-art automated pharmacy systems and services that will refine your operations and propel your business into the high-quality profit machine you have always envisioned. Each vendor is cherry-picked for quality and has the PDS stamp of approval.

 

event_networking.png

 

6. The Best Networking in the Industry

You are the company you keep. Interact with the top 20% of pharmacy owners in the country and connect with the most progressive minds in the business. Year after year, participants have said that the value gained from lasting connections alone justifies the trip. You will learn what other pharmacy owners have been doing to become more profitable. Plus, who can resist a chance to unwind and socialize in Florida’s warm weather?

7. Access to Competitive Strategies

The pharmacy industry is ever-changing, from health care regulations to public opinion. In a world in which knowledge is power, what you don’t know CAN hurt you. The 2016 PDS Conference will unravel key data points that will show you how to drive your strategy, soothe your fears about the future, and give your pharmacy a competitive edge.

8. PDS Membership Test Drive

PDS16 is your chance to get up close and personal with current PDS Members and learn about Members-only programming. PDS Performance Specialists and Business Advisors will be giving demos, sharing tips and answering questions. The PDS team will be delighted to share the mechanics behind our unique training programs and the secret sauce that has caused our Members to earn up to 70 times return on their membership investment.

9. Online Speaker Sessions

Over the past twelve years, our keynote speakers have made dozens of groundbreaking presentations. As an added bonus with this year’s Conference registration, you will gain access to 10 brilliant speaker sessions from year’s past. In the weeks leading up to the event, you will have the opportunity to jumpstart your progress by listening to these sessions online.

10. Free Companion Pass

We encourage conference attendees to help spread the word about amazing innovations available for independent pharmacies. Each ticket includes an extra admission for anyone who is interested in gaining a better understanding of the nature, goals and challenges of our industry ($1,795 value). Bring another pharmacy owner and help us move Together Toward Tomorrow.

What changes will threaten your business this year and next? What new revenue and profit opportunities are you missing out on? There is only one way to make sure you are in the know. Register for the most crucial event you will ever attend for your business. Still on the fence? Contact us with your questions.

 

Pharmacy Resolution: Make Networking a Priority

pharmacy_resolution_2_networking_for_blog.jpg

pharmacy_resolution_2_networking_for_blog.jpgNever underestimate the power of networking! It may sound too good to be true, but investing the time to speak with like-minded professionals truly has the power to transform your business. That is why Make Networking a Priority is number 2 on our list of 5 New Year’s Resolutions for Pharmacy Owners in 2016.

Take PDS President and CEO, Dan Benamoz, for example. He attends industry events year-round and always comes back overflowing with new ideas from presentations attended and friendships formed. Whether it’s a profitable new business relationship or a revolutionary program for motivating staff, the benefits of networking are endless.

Why Does Networking Matter for Independents?

When you spend time with industry leaders, you have the opportunity to eliminate trial and error by hashing out your plans with those who have already implemented similar concepts successfully. Taking advantage of the opportunity to network with other pharmacy owners could save you countless dollars and hours. When done properly, you will build a supportive community of professionals who provide motivation and encouragement when you need it most.

Here are three easy tips to help you get started right away.

  1. Develop a Strong Introduction.

Be prepared to deliver an elevator speech that is impactful and concise. You will want to communicate who you are and why you are at the event, with enough information to keep the conversation flowing. You may also want to prepare a few questions you can use as conversation starters.

  1. Manage Your Expectations

When it comes to networking, a little preparation can go a long way. Before heading to the main event, take time to find out who will be in attendance and establish reasonable goals for yourself. For example, plan to meet ten new people and distribute five of your own business cards. Don’t forget that one high-quality conversation is more beneficial than twenty brief introductions.

  1. Practice Often

Networking is a skill that improves with experience. Even the most outgoing pharmacy owners can be slightly nervous when testing out a newly crafted elevator speech. The more you network, the easier it gets, so get started now and practice often. Attend pharmacy trainings in your area, get involved with your state association and register for the most impactful industry conferences.

The #1 Networking Opportunity for Independent Pharmacists

As an independent pharmacist, it’s easy to discount the fact that you are part of a large, impressive community, which is why networking with peers has proven to be an invaluable tool for thousands of pharmacy owners just like you. Make 2016 easier and better by spending time with other independents at the 12th annual PDS Conference. It is a ruthlessly fact-based, what’s-really-working-now event exclusively dedicated to building strength and security in your business and for us all as a collective, today and tomorrow – in a fast-changing healthcare, retail, and e-commerce environment, where the “slow” will die fast!

 

An Introvert’s Guide to Successful Networking

introvert_guide.png

 

 

introvert_guide.png

 

Business achievement often comes down to focusing on your strengths, while working to improve your weaknesses. If you happen to be more shy or introverted than the typical charismatic entrepreneur, don’t worry! Whether you enjoy it or not, networking is vital to the success of your independent pharmacy and with a little practice and preparation, you can become a networking guru. If you’re nervous about an upcoming conference, lunch meeting or party, experiment with these tips.

Manage Your Expectations

Rather than approaching your next social event with fear, manage your expectations by planning ahead. Before heading to the main event, establish reasonable goals. For example, you may determine to meet ten new people and distribute five of your own business cards. Remember that one high-quality conversation is more beneficial than twenty brief introductions.

Practice Your Introduction

Shy people have a more difficult time starting conversations with strangers, but a small amount of preparation can make a big difference. Develop a memorable introduction, also known as an elevator speech, to describe who you are and why your pharmacy is special. You may also want to prepare a few questions you can use as conversation starters. Research the event to find out who will be there and what their interests are, so you will be prepared to discuss relevant topics.

Set a Time Limit

If you are especially nervous about a particular event, plan to stay for a short time only. Instead of planning to stay for the duration, start small by committing to one hour. Showing up is the first step. You may surprise yourself by decidingto stay longer.

Practice Often

Networking is a skill that improves with experience. Even an extrovert can be slightly nervous when testing out a newly crafted elevator speech. The more you network, the easier it gets, so get started now and practice often.

Introverts draw energy from being alone, so taking breaks can help immensely. Next time you feel drained at an industry event, return to your hotel room, go for a walk outside or find a quiet spot in the lobby to decompress. No matter what, do not let a fear of networking hold you back. For introverts and extroverts alike, the advantages of networking far outweigh the risks.


Every year, pharmacy owners of every kind attend the industry’s main event and report that it’s the most valuable thing they do for their business all year long. Don’t miss the opportunity to network and learn from America’s best pharmacy owners at the Independent Pharmacy Together Toward Tomorrow Conference. Tickets are now available.

Click here to learn more and register now.

Share your story with us on Facebook, Twitter and LinkedIn!