PHARMACY CASE STUDY

Growing the Business by Diversifying and Building a Strong Work Culture

Medicap Pharmacy Toledo

Multiply PDS Investment, Making Life Easier, Business More Valuable

Location: Toledo, OH

24x

ROI in 2018

6

Years with PDS

PDS Training
Attended

Advanced Leadership
SyncRx+
Clinical Services Profit Ignitor
Marketing 360
Employee Performance Management
Effective Supervision for Team Management

PDS Strategies Implemented

RxAnalytics

“RxAnalytics has led to funding the telepharmacy and nursing homes, which has, in turn, helped us with our growth. It’s also led to more medical packaging. One thing leads to another, so it has just been a really exciting year. We look forward to continuing on this journey in the new year.”

Tim Madsen
Owner

PDS RxAnalytics® Drives a New Period of Growth
Medicap Pharmacy in Toledo, Iowa, started out the year with a heavy focus on PDS’ RxAnalytics® program, trying to get multiple team members involved instead of having just one person concentrating on it. Tim Madsen, who has been in pharmacy for over 30 years, said it took some work getting everyone to open their eyes up to it, but it certainly paid off. Medicap’s gross margin went from $11 to $16 which significantly impacted their cash flow. That growth fueled other programs and services that had long been on Medicap’s radar — including a nursing home, a telepharmacy, med packaging and a diabetic shoe fitting service. Those services have led to more satisfied customers. With its med packaging alone, Medicap has more than 200 customers and has been delivering prescriptions regularly with fewer headaches..
Learning How to Implement Goals Leads to Tremendous Results
Tim started to see significant growth when he learned how to set a goal and then implement and act on it. In the past, he says, goal setting was something he wasn’t very good at. With PDS’s support, he has made it a focal point for his own personal growth. The PDS Super-Conference also has been a power tool because of the way it connects him to experts and his peers, he says. With all that said, Tim feels that just having someone to talk to and to work through challenges has been a powerful benefit and the main reason behind Medicap’s success.

“Networking (at the PDS Super-Conference) with other pharmacists and vendors that I wasn’t exposed to before brought in new ideas and opportunities for us. It’s been a game changer.”