PHARMACY CASE STUDY

A Genuine Passion for Community and Innovation

North Century Pharmacy

Multiply PDS Investment, Making Life Easier, Business More Valuable

Location: Kentucky

2

Years with PDS

PDS Training
Attended


ALP

PDS Strategies Implemented


Compounding
Marketing
Diversification

You must fight to succeed, but if you‘re willing to be open-minded, be aggressive and make calculated risks, there’s so much opportunity out there. There‘s a lot of success to be had, but you must have a team on board that believes with you. In an industry like this where it’s so easy to fail, there‘s not much room for negativity. You’ve got to look at the opportunities and go after them because they are out there no matter where you‘re at in your business. You’ve just got to be willing to dig for them and then put in the work.

  • Growth Through Compounding and Provider Relationships

    Last year, North Century was compounding 60 prescriptions per month. Currently, they are approaching 300 per month. Year over year, they are pushing a 400% increase in compounding growth alone! For the first few years, Easton spent a lot of money and energy advertising compounding, but he was still battling being the new guy with out-of-state mail-order competitors. He had to shift his strategy, so he started focusing more on building provider relationships.

    He is intentional about the relationships. He has been evolving his strategy, making the most of every meeting and not leaving anything on the table.

  • Diving in with the Community

    One of Easton’s favorite parts about what he does is his ability to involve North Century in the community.

    Easton supports the community is by utilizing extra space. “Instead of trying to fill it up with stuff that wasn’t going to sell routinely, I have local artists and vendors put their artwork on our shelves, so it basically gives them a storefront.” Easton runs this on consignment and gives 90% back to the vendors.

    Beyond that, Easton has focused on bringing the community into North Century through value and information. They host seminars to help educate patients on important topics such as weight loss and CBD, among other things. It’s just another way North Century has been able to connect with the community and show why independents matter.

  • Working Together on a Common Goal

    Easton was adamant that having a team that’s aligned and working towards a common goal is why North Century continues to see success. He also mentioned the PDS mindset of incentivizing and engaging your team is at the core of what they do.

    He built a bonus structure that’s worked very well. “As long as we meet our set gross profit per prescription goal, they receive their max bonus. Then I have it tiered down. I do a 90-day rolling average, too, because many valuable prescriptions are filled as 90-day supplies.”

“I love being creative. I love marketing. I love being able to come up with an idea in the middle of the night and then talk about it with my team the next day.”

“I’ve talked to lots of colleagues and realized that we incentivize differently than most. We set the bar high and then compensate unselfishly. I don’t think I am over the top about it, and I’m glad to do it for them.”

Ready to set some goals and achieve the business of your dreams like North Century Pharmacy?

Let’s talk about how PDS can help.