Many independent pharmacy owners learned to excel in providing patients the best of care. However, developing the skills to run a profitable business may not have been part of that training.
PDS helps members address that critical gap through expert consulting and numerous course tracks, including finance, technology, marketing and more. With the PDS Finance Track, you’ll learn the real value in budgeting, including how a monthly variance analysis helps you truly understand the differences between actuals and what’s in the budget.
You also will gain the budgeting skills to combat poor cash flow, predict revenue shortfalls and more effectively plan for large cash purchases by forecasting future cash needs.
More importantly, the Finance Track will help you establish critical habits that could transform your pharmacy. For example, with just one hour a month devoted to the budget to actual variance exercise, you will experience improved cash flow and a better understanding of your financial statements just like many other PDS Members.
The specialized track also introduces innovative tools as a way of managing your budget more efficiently. It helps PDS members understand how to use PSA (professional services automation) to keep the budgeting process effective and less time consuming.
At the end, you’ll learn how to …
- Avoid items that are not budgeted for
- Do a monthly variance analysis
- Understand the difference between actuals and what’s in the budget
- Perform monthly budgeting exercises
- Better understand financial statements