Diversify to Grow Your Business

Diversification is the strategy your pharmacy needs to thrive in the face of PBMs. Increasing non-prescription revenue by as little as 5% can mean tens of thousands of dollars in additional profit that PBMs can’t touch. See how PDS members are diversifying and increasing their bottom line.

Resources You Can Use

Top 10 Ways to Start Diversifying and Improving Profitability

Relying on dispensing as your primary source of revenue is a high-risk strategy. You need to take control and take your pharmacy beyond dispensing. On average, pharmacy owners have over 90% of their revenue tied to PBMs, but small changes to this percentage can make a big difference to your bottom line.

The first step to change the way you play the game is by implementing pharmacy services and solutions that diversify your revenue streams.

1. Pharmacogenetic Testing6. Long Term Care Prescriptions
2. Weight Loss Coaching7. Worker’s Compensation Prescriptions
3. Allergy Testing8. Prior Authorization Approvals
4. CBD Sales9. Increase OTC Sales
5. Point of Care Testing10. Direct Employer Contracting

Check out the new Diversification Worksheet. It will help you take these strategies from paper to actionable items that will increase your profitability.

This is What Success Looks Like.

From insane growth in CBD sales to a veterinarian on staff, Sweetgrass Pharmacy in South Carolina is growing through diversification.

Hear owner, Cynthia Feldman, tell her story from the PDS 2020 stage.

 
  • Produced over $30k a month is CBD sales in first year
  • Increased Rx Count by 1,000 and moved Gross Margin/Rx from $15/$16 to $27/$30
  • Averaging 1,200 – 1,300 compounds a month

Talk to us! Our team at PDS is excited to help you grow your business.

Book online by selecting below.

Check Out the PDS Blog for Industry Insights, News, and Hot Topics

Open Enrollment Best Practices

The final quarter of 2021 presents many opportunities for independent…
pds super conference

Inspiring Speakers | PDS Super-Conference

February 2022 is fast approaching, and next year’s back-in-person…

A Pharmacy Owner’s Guide to Getting Started on Social Media

Building a digital presence for your pharmacy is essential in…

What Does It Mean to Manage Inventory With Purpose?

Inventory management has a huge financial impact on your independent…
pharmacy-vitamins-supplements

Even Pharmacists Should Take Their Vitamins in 2021 

Every year it’s the same story – January 1st rolls around,…
pharmacy patients

Extending the Patient Lifecycle in Your Pharmacy   

As an independent pharmacy, your  goal is to become a healthcare…
cash flow statement

Solving the Mystery of Cash Flow vs. Profit 

 “I feel like I’m making money, but I don’t have any”…

What Do Pickles and Customer Service Have in Common?

/
All too often, pharmacy owners fail to understand the importance…

Get on the path to real sustained growth.

Start setting higher goals. And start achieving them. We’ll help.