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Pharmacy Strategy: Your Competitive Advantage in an Unfair Industry

Put Your Ideas into Action: A Pharmacy Strategy for Every Owner

The pharmacy industry is in a seemingly constant state of flux, and this year seems to be the most difficult one to date. PBMs, GER, and clawbacks are all putting pressure on you and your pharmacy. We have taken our four most popular eBooks and have combined them into one valuable downloadable resource. Each of these eBooks highlights a pharmacy strategy that reinforces what you stand to gain by staying adaptable in an unfair industry. Your pharmacy is important to the community you serve, your patients, yourself and your family. Learn how to operate your pharmacy business with clarity and confidence, knowing that regardless of the challenge, you can thrive and leave a legacy that you have worked so hard to build.

  • Adapt or Go Home: Surviving the Evolution of Independent Pharmacy
  • The Pharmacy Business Blueprint for Massive ROI
  • PBM Audits 101: What You Need to Know
  • Buyer Beware: Pharmacy Wholesaler Guide

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Pharmacy Strategy #1 – Stay Adaptable

Adapt or Go Home: Surviving the Evolution of Independent Pharmacy

Competition and challenges lurk at every turn; some owners find themselves with no choice but to close their doors. There are owners out there with thriving pharmacy businesses, despite the roadblocks.

​What is the differentiating factor? Adaptability. The ‘dispensing-only’ pharmacy business model is dead, and growth opportunities exist only for those ready to adapt​ in the evolving healthcare marketplace.

It’s both freeing and frustrating when you realize learning should never stop. We can’t buy Target. We can’t buy Aetna. We cannot buy Amerisource Bergen or Amazon. But we do have a network of 22,000 pharmacies who can tap into the collective resources, capabilities, strategies, and tools to create a bright future for ourselves and the next generation of independents.

Pharmacy Strategy #2 – Diversify Using Data

The Pharmacy Business Blueprint for Massive ROI

Every pharmacy owner needs to ask themselves these four questions.

  • Do you know which Rx’s are paying well?
  • Who are your top 10 most profitable prescribers?
  • Which insurance providers are adding to your bottom line?
  • Who are your top 50 most-profitable customers?

Start thinking about the answers to these questions and applying this blueprint to your business. The results will not only be improved prescription profit margins but improved patient outcomes. Your customers rely on your knowledge and experience to find the best treatments at the best price point. The pharmacy strategy we’ve outlined in this eBook has been downloaded and applied successfully in thousands of pharmacies across the US. These are the strategies to achieve a stronger, sustainable pharmacy business.

Pharmacy Strategy #3 – PBM Audit Preparation

PBM Audits 101: What You Need to Know

Imagine a business model where an outside company that controls 40% of your business can simply claw back all the money they reimbursed you. What comes to mind? Unfair. Made up rules. Conflict of Interest. Broken Market. Increased Costs.

The PBMs are a problem, but they aren’t going away any time soon, and audits don’t have to be the cost business in our industry.

This Must-Read eBook will cover…

  • Different types of audits and their triggers.
  • What to do when you receive an audit notification (Don’t ignore it!)
  • Strategies to proactively protect your business and train your team.

Having a pharmacy strategy in place for PBM audits is critical to mitigating losses of time and money. Don’t leave your pharmacy’s future to chance; start preparing today.

Pharmacy Strategy #4 – Vetting Pharmacy Wholesalers

Buyer beware: Pharmacy Wholesaler Guide

Pharmacy margins are at an all-time low, leaving independents scrambling to implement a pharmacy strategy that helps to improve profitability. A popular method is comparison shopping drug wholesalers.

​In this eBook, we outline…

  • Why buyers need to be vigilant when considering new suppliers and wholesalers.
  • The three critical questions any pharmacy owner should ask new and existing suppliers.
  • How reputable wholesalers can have a positive impact on your bottom line and your patients’ lives.

All wholesalers are not created equal, and we will provide critical insight to how you should take a critical eye when aligning your pharmacy business with new industry partners.

What do the results of a PDS Membership look like?

“I’ve been able to give monthly incentives to my employees. When they reach certain gross profits, the pharmacist in charge gives out bonuses.”

“With the help of PDS, we’ve more than doubled last year’s immunization sales. My team works smarter and our gross margins are continuing to grow rapidly.”

“We’re in control. We’re calling the shots. We’re being proactive instead of reactive. PDS has been a source of knowledge I didn’t even know I needed.”