PHARMACY CASE STUDY

PDS Strategies Pay Off With a Massive 99x ROI In Just One Year

Carolina Pharmacy – Arboretum

Multiply PDS Investment, Increase Value

Location: Charlotte, NC
Years in Business: 9

Specialties: Pharmacogenetic testing, compounding, personalized medication, genetic testing, diabetes management

99x

ROI in 2016

3

Years with PDS

PDS Training
Attended

PDS Annual Conference
Advanced Leadership
Clinical Services Profit Ignitor

PDS Strategies Implemented

RxAnalytics
Inventory Optimization
Pain Protocol

“We’re less focused on rebates and more focused on profits by identifying NDCs that are slightly more expensive, but help us create more revenue. By the end of the month, all stores had met their goal and had earned close to $90,000!”

Vic Patel
CEO

Gaining Success Through a Major Team Effort
After becoming a PDS member in July 2016, CEO Vic Patel made sure to keep his entire team — from cashiers to managers — engaged with what he was learning. That included understanding and implementing the PDS strategies of the Pain Protocol and RxAnalytics programs. Their unrelenting focus on key strategies led to Carolina Pharmacy – Arboretum earning $1.25 million and a 99x return on its PDS investment in 2016. Vic said an added benefit of his PDS membership includes learning what it takes to encourage his team. “I’m more confident in my ability to be a leader of all of our locations,” he said. “Now, I’m not worried about the day-to-day operations.”
Exploring New Opportunities for Growth
Although Carolina Pharmacy experienced exponential results in its first year of PDS membership, Vic and his team didn’t waste time exploring other ways to improve their operations. They decided to find those opportunities within their existing patient base, using RxAnalytics. Paul, Vic’s PDS Business Coach, and Bryan, his Performance Specialist, provided invaluable insights about structuring Carolina Pharmacy – Arboretum. Vic said their training has helped him understand how to look at cash flow and set benchmarks for profit margins and conversions when planning for the future. “Prior to this, I had no frame of reference for the ‘average’ pharmacy of our size,” he said. Now, he regularly finds the answers to questions like, “What insurance is paying out better?” and “Where can we be more profitable?”

“I think we can improve quite a bit. I’m more confident in my ability to be a leader of all of our locations. Now, I’m not worried about the day-to-day operations.”