Booth 612 was the place to be at Cardinal Health’s Retail Business Conference (RBC). Members of the PDS Team were on hand to discuss with attendees the many ways to help independent pharmacies thrive. Cardinal Health RBC occurs annually and has been where more than 4,500 independent pharmacy owners converge for the last three decades […]
Understanding the financial health of your business is powerful. As an independent pharmacy owner, you spend an incredible amount of time running your business, but do you really understand how to leverage your financial statements? Of course, there is money coming in and money going out – but if you can successfully interpret that data, […]
The final quarter of 2021 presents many opportunities for independent pharmacy owners. With Open Enrollment Season now underway, what plans have you made to assure your patients and your pharmacy are set up for success in 2022? Not sure where to start? Medicare’s Annual Enrollment Period (AEP) is a tremendous opportunity to keep your pharmacy […]
February 2022 is fast approaching, and next year’s back-in-person Super-Conference is one you won’t want to miss. Join us on February 17-19, 2022, for three inspiring days focused on providing actionable solutions to the actual pressures you face every day running your pharmacy. Our inspiring speakers over the past 17 years is just part of […]
Building a digital presence for your pharmacy is essential in this booming era of technology. Since the pandemic, more people than ever are using social media to stay connected with their communities. If you haven’t yet developed one or more social media pages for your pharmacy, then now is the time to start. In this […]
Inventory management has a huge financial impact on your independent pharmacy. When your inventory isn’t being managed in an optimal way, it means cash is sitting on your shelves instead of in your pocket. This significantly restricts your cash flow and the ability to settle everyday expenses. Today, we are going to crack the code […]
All too often, pharmacy owners fail to understand the importance of excellent customer service. Don’t make this mistake, as it can be incredibly detrimental to your business. Gaining and retaining customers is an important part of keeping your doors open, and owning a pharmacy probably wouldn’t be very rewarding without customers coming in. Regardless of […]
You’ve paid for the ticket. And you’ve cleared your calendar for an upcoming virtual conference, like PDS 2021, that promises to teach you things to make life (or work) easier. Now that the pre-work is over, it’s time for the real work: making sure this virtual conference is well worth your investment.
Prescriptions may be the number one reason patients come into your pharmacy (they are your most vital revenue source, after all). To maximize your pharmacy’s revenue potential even more, take advantage of the non-prescription sales opportunities available to you today. Prescription profit margins have seen a decline in recent years. On the other hand, OTC […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce RxSafe. Read on for their blog post about pouch vs. blister in a COVID world. This year has been full of […]
Providing an Immunization Program in your pharmacy is a great way to diversify your pharmacy’s offerings and revenue streams, while also filling an important community need. Help your patients and take control back from the PBMs. Before You Start an Immunization Program: Consider the clinical (and business!) benefits for your pharmacy. Expand your service mix […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to work with Drug Topics. Read on for their sponsored blog post about the business landscape after COVID within pharmacies and 5 […]
Independent pharmacies are uniquely positioned to help their communities. COVID testing is still in high demand and there is a limited opportunity for our industry to provide the testing services their patients need and boost their profits. At this point, COVID has been a significant issue in our lives for almost a year (doesn’t seem […]
Here at PDS, we take pride in highlighting some of our incredible media partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to work with Pharmacy Times. Read on for their sponsored blog post about the importance of immunization programs, written by PDS […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Wellness Works. Read on for their sponsored blog post about the business of nutritional sales and selling vitamins. For decades, […]
Every year, Medicare’s Open Enrollment period is October 15 – December 7. The process of enrolling or updating plans can be frustrating for aging patients, resulting in many staying with a plan, even if it isn’t the best option for their healthcare needs. Helping patients navigate this process is an excellent opportunity for independent pharmacies […]
Are you a #PDSRxHero? Independent pharmacies all over the country have been invited to join the PDS Legacy Challenge. To enter is simple, just post photos and videos on social media of your successes, wins, and all the great things your pharmacy is doing with #PDSRxHERO in the caption. “Successes” can include anything from participating […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Parata. Read on for their sponsored blog post about the benefits pharmacy automation. Empower Your Employees with Pharmacy Technology Medicap Pharmacy®, […]
There are multiple benefits to attending a pharmacy business conference. The most significant is spending three laser-focused days working ON your pharmacy, not just IN it. PDS 2022 helped us define our Rx Factor; the one thing in our businesses that we could change or elevate to make a significant impact on growth. The year has […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Oceanblue. Read on for their sponsored blog post about the health benefits of Omega-3s. A Quick-Start Guide to Omega 3s […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Boost Oxygen. Read on for their sponsored blog post about how supplemental oxygen can be a unique way to diversify […]
2020 will be remembered for a lot of things. Staying apart, coming together, learning a new normal. Pharmacies have found innovative ways of keeping their businesses moving and operating efficiently – including an abundance of virtual communication. We are going to take it a step beyond virtual meetings and talk about virtual events in your […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Datarithm®. Read on for their sponsored blog post about how to protect your supply chain from shortages. The coronavirus (COVID-19) […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce PioneerRx. Read on for their sponsored blog post about the importance of the Pharmacist eCare Plan. As some of the […]
Here at PDS, we take pride in highlighting some of our incredible partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce RxGenomix. Read on for their sponsored blog post about the importance of solution selling and showing your patients how much […]
COVID-19, also known as the Coronavirus, has impacted the entire globe. This is a time that we must come together to help each other, support each other, and share information that will make this situation just a little more manageable. During this pandemic, PDS is here for our members, our communities, and the overall independent […]
Here at PDS, we take pride in highlighting some of our incredible partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Physician 360. Read on for their sponsored blog post about the importance of telemedicine and point-of-care testing. With the recent […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Optavia. Read on for their sponsored blog post about creating new habits. Why are your habits important? The answer is […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Oval Group as they focus on something so important to PDS – TEAMS. Read on for their sponsored blog post about […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce American Associated Pharmacies (AAP). Read on for their sponsored blog post about building your bottom-line. Data is everything. It can […]
Here at PDS, we take pride in highlighting some of our incredible partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce RxSafe. Read on for their blog post about planning for success with adherence packaging in your independent pharmacy. You’ve no […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to Drug Topics. Read on for their sponsored blog post about how vaccination programs can bring additional profits to your pharmacy The majority […]
Are you thinking about purchasing new equipment to offset income or to begin expanding your services to improve your business? Make the purchase and install it by the end of the year to qualify for a Section 179 deduction. Why Leverage Section 179? The tax code is certainly a beast that many of us never […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce RJ Hedges, a company that provides HHS & Medicare turnkey healthcare compliance programs for independent pharmacy owners. Read on for their sponsored […]
Last month Walgreens announced the closing of 200 stores. Last April Fred’s decided to begin closing 159 stores and stated that they were getting out of pharmacy. We also heard about Shopko going out of business. These changes in the industry mean thousands of patients will be looking for a new pharmacy and YOU, the […]
Here at PDS, we take pride in highlighting some of our incredible exhibitors. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce GRX Marketing, pharmacy marketing experts who offer customized solutions for your pharmacy’s unique marketing needs. Read on for their sponsored […]
Click here to get the most up to date information. Join us on November 7th for a live webinar on USP <800>. is a new safety standard with the intent to minimize the exposure to hazardous drugs from healthcare personnel, patients, and anyone else coming into contact with these drugs written by the United States […]
If we were to ask independent pharmacy owners what makes their pharmacy run, many might say their inventory, their customer service or their rock-solid team who keep the ship afloat. While all of those are true, the undercurrent at the heart of these statements is money. Make no bones about it, your cash balance dictates your […]
If you’ve ever rolled out a new program that involved a systems strategy or even a new process in your pharmacy, getting your team’s buy-in and commitment is crucial if the system will succeed. Your team will be the ones who will put your ideas into practice, taking the policies and procedures that you have […]
As an independent pharmacy owner, you’ve worn many different hats over the course of your career. You’ve filled prescriptions, counseled new patients and balanced the till in your cash register – you’ve done it all. After years of hard work, you can handle anything that comes your way. But as your business continues to grow, […]
Every February for the last 15 years, pharmacy owners around the nation get their travel plans in order and prepare to make the pilgrimage to Orlando, Florida for the most relevant pharmacy conference of the year. Attendees travel to the PDS Super-Conference for varying reasons: They want to see their business grow faster. They’re sick […]
PBM Audits are painful. If you’re an independent pharmacy owner, it can be one of the most expensive & stressful hurdles for your business. You risk losing money and jeopardizing your contract if you are not familiar with PBM manuals and how to apply them to your pharmacy. In short: with a PBM audit, you’re […]
In a hearing on Monday, US District Court Judge Richard Leon stated that he is considering hitting pause on the $70 billion merger between CVS and Aetna. The deal is currently unopposed, but the public comment period remains open until December 15, 2018. According to the Department of Justice’s Antitrust Division, final judgments must wait until the […]
Dr. Lisa Faast is the VP of Marketing and Pharmacy Expert. She brings tremendous knowledge and insight from starting, owning and operating her own pharmacy in California. Dr. Faast now leads the marketing department and is our resident Profit Guru for our members. Below, is her urgent message to all pharmacy owners. After years of […]
How well you lead determines how well you succeed is not just a motto, but a truth that will dole out hard lessons if not thoughtfully applied in your business. Strong leadership culture is your pharmacy’s most sustainable business advantage. Read on to learn more about how to navigate the Five Levels of Leadership and create […]
What makes people say yes? The science behind persuasion is comprehensive, and researchers have been studying the factors that influence people to say “yes” to the requests of others for over 60 years. The real question is: what guides human behavior? During the decision-making process, it’s natural to think that people consider all the information […]
These days, everyone’s talking about adherence. Amazon’s pending acquisition of PillPack didn’t start this conversation, but the retail giant has certainly increased its volume… and it’s urgency. At RxSafe, we talk to a lot of independent pharmacy owners, and their reaction has been mixed. Here are a few observations we’ve heard, in no particular order. […]
PDS teaches owners how to find success; we cannot create it for you. Members that have built a thriving pharmacy business all started from the same place; deciding to do something differently. You may be struggling through challenges and feeling alone in running your business, but the fact that you are reading this blog despite these […]
Thanks For 20 Years! Success doesn’t just happen; it is something that you must work towards daily. PDS has been serving independent pharmacy industry for 20 years this May. In this time, we have consistently recognized four business principles adopted by the most successful pharmacy owners. These principles have also helped to define PDS’ success over […]
In early April, the Wall Street Journal published an article that featured PDS member and multi-store owner, Cliff Holt of Hurricane Family Pharmacy. Cliff’s is one of the many companies taking advantage of the new tax deduction for pass-through businesses. These companies make up the majority of U.S. businesses and include entities like sole proprietorships, […]
Pharmacies are in a unique position to be seen as the champion of patient wellness and community healing. They are the destination for judgment-free care. Unfortunately, people carry an assumption that every business they step into will try to sell them on their products just to turn a buck. Your brand promise is about sharing […]
Operating a successful pharmacy takes more than the mastery of a single clinical or business skill. The complexity and evolution of the industry have made it so extended hours or higher prescription volume are not enough to drive impactful pharmacy growth. Between declining reimbursements, ambiguous DIR fees, and a competitive pricing environment owners are faced […]
As we near the end of the first quarter, it’s time to pick your head up from the trenches and take a moment to look around your pharmacy. Take inventory of your four walls and everything in it. What do you see? Look at your team. Do you see a team that bickers with each […]
Here at PDS, we take pride in highlighting some of our incredible solutions partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce RxSafe; read on for their sponsored blog post about a new approach towards inventory management. Inventory is typically the […]
Our friends at NCPA are making great progress in their never-ending efforts to advocate for the independent pharmacy industry. In this newsletter from NCPA’s CEO, Doug Hoey, they are highlighting some great work done with the Arkansas Pharmacists Association (APA) in the battle against Pharmacy Benefit Managers (PBMs). Great job, Arkansas! Dear Colleague, […]
If you’re a pharmacy owner and you missed the 2018 PDS Super-Conference, you left vast opportunities to grow your pharmacy on the table. That is the truth, plain and simple. There were over 2,000 in attendance including the most progressive owners and professionals in the independent pharmacy industry. All of them piqued and ready to […]
We’ll be the first to admit that the cards are stacked against pharmacy owners. Pharmacies are faced with fees, clawbacks and dwindling reimbursements at every turn. It’s no wonder many are trying creative methods to squeeze extra profit from any source they can find in order to avoid shrinking margins. Your PBM could make matters […]
Here at PDS, we take pride in highlighting some of our incredible solutions partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Liberty Software; read on for their sponsored blog post about the benefits improving patient care and profitability through strategic […]
What we’re about to show you will likely make your blood boil. It did ours. These are pictures you must see to affirm your sneaking suspicion that yes, you are in fact getting duped by PBMs, such as CVS Caremark. The Proof The images below were provided by a fellow pharmacy owner and were obtained […]
Here at PDS, we take pride in highlighting some of our incredible solutions partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce LP3 Network; read on for their sponsored blog post about the benefits of blended learning in your pharmacy. At […]
Do you remember taking marketing or business classes in pharmacy school? Yea, we didn’t think so. That’s because pharmacy schools don’t teach for pharmacy ownership. Owners must go out and find unique and impactful ways to grow their business. Most do it through trial and error, and we respect those that do because that […]
If you’re like many of the 16,000+ independent pharmacy owners in the nation, you went to the business school of life… which means that you didn’t go to business school at all. You rely on different sources from networking to online literature (like this blog!), business coaching and everything in between. Fear not, weary warrior. […]
This is a philosophy I share with almost all pharmacy owners whenever we speak about employee performance. Why? While managing people is often labeled as daunting, everyone understands the fundamentals of sports. From the players on your team to the programs, or plays, you implement on the “court,” the same mindset and skills required to […]
Flu season is upon us, and as they say, an ounce of prevention is worth a pound of cure. How will you be conveying that message to your patients this flu season? Here are 22 marketing tactics to position your independent pharmacy as the go-to for their healthcare needs this flus season. The ideas below are […]
Pharmacy ownership doesn’t have to be scary. Sure, the industry is filled with pitfalls and roadblocks, but there’s no need to fear! Here are four pharmacy rules to get you through this Friday the 13th and beyond. You can survive and come out the other side with a thriving successful pharmacy. Don’t Go Swimming What […]
Between PBMs, DIR fees, MAC pricing and clawbacks, the independent pharmacy owners we work with are hungry for proven strategies to transform their business. And who would blame them? Identifying ways to supplement your pharmacy’s bottom line is more important than ever with insurance companies and auditors regularly skimming from the top. Our R&D team is dedicated to creating profitable and patient-focused member programs, such as RxAnalytics. This proprietary system analyzes pharmacy data to uncover specific ways to increase profit margins, but success is not just […]
Community pharmacies play an important role and bring a unique value to the areas they serve. This role is particularly important when it comes to natural disasters. The threat of natural disasters isn’t new, but in light of recent times, there is an increased sense of awareness and need for preparedness if the next one […]
As an owner, what is your first instinct when you stare headlong into another business challenge? Do you immediately lay claim to a solution and disregard input from others? Or, are you the type who treats challenges as an opportunity for growth and improvement? FACT: No leader can solve every problem or claim to have all […]
Here at PDS, we take pride in highlighting some of our incredible solutions partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Sykes & Company P.A.; read on for their sponsored blog post about why your business needs a pharmacy-specific CPA. Running […]
Here at PDS, we take pride in highlighting some of our incredible solutions partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Langermania; read on for their sponsored blog post on valuable tips to stock your shelves with the right products that […]
For 19 years, PDS has been working with independent pharmacies, just like yours, and we’ve heard the same complaints and frustrations time and again. “I’m tired of working so hard for such little return.” “I dread going to work every day, not knowing if tomorow is going to be okay.” “I don’t know how to […]
If you ask a room full of independent pharmacy owners if they would prefer to increase the volume of $10 prescriptions or the dollar value of existing scripts, chances are they’d all choose the latter. However, many believe it’s easier to find more customers; and focus on tactics to attract new business instead of optimizing […]
As an independent pharmacy owner, you started your pharmacy with the intent to offer better and more diverse services for your customers than the big chain pharmacies ever could. However, you may not have anticipated the challenge in determining which services were right for your pharmacy customers and the steps needed to implement these services. […]
Improving profit margins is the name of the game for small business. The key is doing so with little to no extra cost or effort. We are here to tell you that profit doesn’t have to be a four letter word. You can have it both ways: improve your patient’s health care and run a […]
If you don’t have a plan for 2018 to improve your people, process, and profits, now’s the time to think ahead. Your team and how they work is a direct reflection of your pharmacy. What do your customers see? How is your bottom line affected by a lack of efficiencies and training? These are […]
Here at PDS, we take pride in highlighting some of our incredible solutions partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce Ideal Protein; read on for their sponsored blog post about an exciting new revenue stream that is focused on […]
Like the 7 Kingdoms of Westeros, the pharmacy landscape is, at best, a tumultuous environment where the little guys are at a seeming disadvantage, and the power-hungry folks on top make the rules. With Game of Thrones season in full swing, we noticed some key strategic lessons in the series that apply to life and […]
Training employees has always been critical in creating a thriving business, but gone are the days where you can train an employee during the hiring process and be done with it. In today’s workforce, 76% of employees are looking for growth opportunities. Regular employee training is vital in keeping your team engaged and organization propelling […]
Here at PDS, we take pride in highlighting some of our incredible solutions partners. We know these companies have the potential to revolutionize pharmacies just like yours through their products and services. We’re excited to introduce GRX Marketing; read on for their sponsored blog post about leveraging public relations to market your independent pharmacy. One […]
As an independent pharmacy owner, you’re constantly monitoring your bottom line. So when it comes to budgeting for employee training, it may be difficult for you to view it as anything other than another significant expense. But we urge you to reconsider. Thriving business owners believe two fundamental philosophies: They can’t do it all themselves […]
One of the biggest challenges for a pharmacy business is that no one likes to sell. It seems to be part of our psyche that if you are selling anything, it equates to a used car salesman selling a lemon dressed up as a Cadillac. In other words, selling is perceived as trying to get […]
Through a unique blend of business coaching and training, Pharmacy Development Services has a track record of producing some of the most groundbreaking and results-driven pharmacy teams in the industry. In fact, the average new member sees a 12.1 return in their PDS investment by implementing just one or two of our profit-focused programs. In […]
Lack of patient adherence is a struggle for many pharmacies that rely on dispensing medication to improve their customers’ health and keep the lifeline of scripts flowing. But there are ways to flip the tables on the conventional dispensing model and build a reliable return. If you attended PDS 2017, you may remember a presentation […]
Here at PDS, we have many incredible solutions partners that have the ability to revolutionize pharmacies through their products and services. We’re so excited to share with you one of them — First Financial Bank. Read on for their guest blog post below about refinancing your pharmacy debt. Enjoy! Cash flow is critical to any […]
Know the Red Flags, or Sink. Pearson’s Law: Everything measured improves, and everything measured and reported on improves exponentially. When is the last time you measured your pharmacy’s financial progress? We’re willing to bet that most reading this don’t take a deep dive into what makes their pharmacy thrive — and what is bogging the […]
Anyone who manages an independent pharmacy knows how intractable the challenge of inventory management can be, whether perpetual or not. Cycle counting, managing C-II logs, order point adjustments, and tracking expired stock are among the labor intensive processes that can drastically impact the profitability of your business. How can a pharmacy with competing demands on technician […]
The Annual Wellness Visit (AWV) is a trending pharmacy business tactic, with more and more owners adding the service to their repertoire. It’s an annual check up intended to update and review patient history, assess a patient’s vitals, screen them for risks and establish a list of their health care providers and medicines. The AWV can […]
For most independent pharmacy business owners, it often feels as if small changes in daily activities could rarely contribute to a substantial increase in pharmacy profitability. Your team spends countless hours every day filling scripts, restocking shelves, staying up-to-date on inventory orders, offering your patients premium care, and if you’re really on top of your game, […]
Three Game-Changing Business Strategies to Achieve Massive ROI in Your Pharmacy Business! Have you been struggling to create the pharmacy business you once dreamed of as a staff pharmacist? Battling to get through another year just to stay afloat? Are you asking yourself, ‘How are other owners expanding and sparking growth?’ We operate in an […]
Here at PDS, we have many incredible solutions partners that have the ability to revolutionize pharmacies through their products and services. We’re so excited to share with you one of them — iMedicare. They would like to share with you the blog they wrote below about how you can join the revolution to reshape Medicare […]
If you’ve been paying attention to or attended the 2017 PDS All Star Super-Conference, you know that we unleashed some profit-rich programs and strategies that boast incredible ROIs to our attendees. 5 programs, in particular, have generated a buzz among independent pharmacies. These are: Tax Savings Data Mining Clinical Services Allerpac Pharmbuilder PDS member pharmacies […]
Committed to the excellence of the pharmacy industry, the number one goal of the team at RxSafeGrand Event Sponsor at the PDS All-Star Super Conference, is to streamline retail pharmacy workflows and inventory management. In the following casey study, we spotlight the team at Paw Paw Village Pharmacy and how they used their RxSafe 1800 system […]
Let’s take a look at your pharmacy marketing. Are you implementing the foundations of marketing to drive traffic through your door? If you’re like most independent pharmacy owners, you don’t have a fancy marketing team for implementation. In fact, most pharmacies have limited time, money or resources for marketing. That is where most owners give […]
RxSafe, the Grand Event Sponsor at the 2017 PDS All-Star Super Conference is fiercely committed to challenging conventional wisdom, upending the status quo, and developing technology that will define the future of the retail pharmacy industry. In the following pharmacy automation case study, we feature RxSafe customer Ed Potts, owner and pharmacist at Medicine Shoppe 0805. […]
Approximately 20,000 independent pharmacies are operating in the U.S. today, and all are facing fierce competition ready to knock them out of the game. The resources and budgets of independents can’t compare to those of a multi-million dollar retail pharmacy, so independents have to get ‘creative’ by harnessing the talents and providing professional development, for […]
Your Roadmap is Waiting When you attend our Super-Conference, you’ll notice that one of our beloved traditions is to recognize the PDS members who have shaken the ground in their success in the last year. These are pharmacy owners who, in one short year, have claimed their success over a variety of struggles. Be it […]
The team at RxSafe, the Grand Event Sponsor at the 2017 PDS All-Star Super Conference, walks into the office every day with one goal in mind: to streamline retail pharmacy workflows and inventory management. Today we share a pharmacy automation case study featuring RxSafe customer Jana Bennett, owner and pharmacist at Medicine Shoppe 0708, and her path from […]
Most business owners think that they’re safe from personal liability when they formed their corporation or LLC. This protection is called your “corporate veil.” For the most part, this is true… if you follow the rules. If you don’t follow the rules of the club to keep you in the bubble of protection, a court […]
Come Sit at the Table If you’ve ever attended a pharmacy event, tradeshow or conference, you know the drill. You’re fed clinical, sponsored education that focuses on the pharmacist, not the pharmacy owner. While clinical training keeps your gears oiled as a pharmacist, it does nothing to grow your business in the ways you […]
“Helping pharmacy owners grow in an unfair game.” This has been the sole focus of PDS Founder and CEO, Dan Benamoz for 18 years since the launch of Pharmacy Development Services (PDS). After extensive planning and collaborating, we are ready to drive substantial changes in the independent pharmacy industry. Our 2017 PDS All Star Super-Conference gave […]
What if we told you it’s possible to thrive during this holiday bustle? This year’s busy retail season is crazier than ever, and you may be wondering how you will survive Christmas 2018. We know firsthand that major shifts in customer volume and stock shortages are hard to predict. Nevertheless, we want to assist […]
Millennials, defined as those born between the early 1980’s and 2000, are an extremely brand-loyal generation. Developing relationships with this demographic should be a major goal for your pharmacy. One of the best ways to gain the business of this 80-million member group is to gain their trust. You will be well on your […]
“Success comes in cans, not in cannots.” as PDS 2017 keynote speaker Joel Weldon is known for saying. The pharmacy myth that you cannot improve patient outcomes while increasing profits is a dangerous and false self-limiting prophecy; though it is understandable why some would believe it. Driving profits while simultaneously adhering to the best interest […]
When you partner with organizations such as Pharmacy Development Services (PDS) and Live Oak Bank, you are choosing to do what it takes to win in an unfair game. You no longer have to make due with whatever prescriptions come through the door. If you know where to look there are countless opportunities to make […]
When positioning your pharmacy business for success, an oft-ignored variable is who you align your business with from the start and into the future. We guide our PDS members to make smart, well-informed decisions on everything from increasing profitability, financial literacy, leadership and culture, pharmacy processes, marketing and more. We position these same lessons […]
There is no shortage of options for owners looking to impact pharmacy growth. Successful independent pharmacy owners must maintain a balance between growing profits, investing in the business, and managing operational cash flow. This formula is not new. However, in light of significant industry shifts and stringent regulations; the balance is more challenging to achieve. Success […]
We tell every pharmacy owner that we meet that pharmacy profits ARE good right now. The truth is that many don’t know how good it can get for independents. All it takes is a shift in thinking. Changing the way you see the profitability of your independent pharmacy is the first step to growing pharmacy profit margins. […]
Here’s a truth: Pharmacy schools across the nation let young graduates loose into the world with a shiny degree, but woefully inadequate business skills. For those pharmacists who seek to become owners themselves, these same lack of skills become painfully apparent when faced with the process of starting or buying a pharmacy then operating to […]
From pharmacy school, to the whirlwind of pharmacy ownership, there will always be bumps in the road — and no pharmacy owner is immune. Whether you just discovered that you wasted thousands of dollars on the wrong pharmacy software, your team is showing signs of toxicity, or even if you’ve just now realized that not […]
The Walking Dead (TWD) series has captured the dark imagination of TV audiences over the past six years, and fans (many of whom work at Pharmacy Development Services) are counting down for the season premiere this Sunday. We’ve identified the top three TWD lessons that independent pharmacy owners can apply to running their business. You may be […]
Attending any pharmacy conference is an investment that should be weighed against the potential ROI. Before purchasing a ticket, ask yourself if it is worth the time and money to attend and how the event will add value and increase profits for your independent pharmacy. This is where the 2017 PDS All-Star Super-Conference comes in — […]
Data-Analysis for Independent Pharmacy Owners Are you the type of independent pharmacy owner who is content to drift along with the dated model of taking whatever business happens to walk through the door? Don’t settle for “business as usual” and “my pharmacy is doing just fine.” The unfair game PBM’s are playing won’t change until you […]
Written by Steve Graham, The Oval Group, a PDS Recommended Vendor Every Saturday morning for the past year, I have been reviewing the Wall Street Journal’s summary of the week’s best-belling books, as reported by Nielsen BookScan. Many bestsellers have come and gone over that time period, but what continues to endure, is the type […]
In light of recent price increases of the life-saving device, Epi-pen, there are discussions happenings throughout the media and across industry message boards about lower cost or generic alternatives available to consumers. This situation puts independent pharmacies, as healthcare destinations, in a unique position to offer patients valuable information on Epi-Pen alternatives. Patients that are […]
Improve Pharmacy Profitability The average independent pharmacy operates on very thin profit margins, forcing owners to reevaluate ways to keep costs low and profits high on a regular basis. Not knowing where to look first can be frustrating and overwhelming. Here are the three methods of improving your pharmacy profitability you should regularly assess in your […]
Poor financial management in pharmacy leads to insufficient operating funds. This is one of the main reasons why 50 percent of small businesses fail within the first year. It is important for pharmacy owners to understand their financial data to avoid becoming failure statistics. If you are an independent pharmacy owner, remember these valuable tips for […]
As social media becomes increasingly effective as a marketing tool, it is little wonder that small businesses and independent pharmacies are starting to take advantage of this convenient and cost-effective medium. Without a huge brand name or giant marketing budget, independent pharmacies need to get creative in engaging with customers and social media can […]
With so much competition among pharmacies, it can be difficult for an independent pharmacy to gain traction in their local community. After all, larger chains tend to occupy every single corner in America, making it all the more important for community pharmacies to stand out. Fortunately, there are some simple ways to increase your […]
One of the biggest advantages of managing employees at an independent pharmacy is the flexibility to design a personalized pharmacy team. In fact, a well-managed, high-performing team will produce better business results. But how does one build a team of high performers? Effective communication is an essential part of effective team management. Better communication facilitates […]
Become a Community Healthcare Destination How can pharmacy owners stand out among the competition and grow market share? By positioning your store as a community healthcare destination. The healthcare landscape is one of constant change and gaining a competitive advantage can be an ongoing battle for the independent pharmacy owner. There are a multitude of […]
What is missing from your business strategy for your independent pharmacy? Unless you are regularly leveraging your dispensing data, the answer is — a lot. Simply increasing prescription volume isn’t the answer. Quantity does not always equal quality. In today’s industry, the most successful and profitable pharmacy owners are using their pharmacy data to make […]
Owning a pharmacy is challenging. So challenging, in fact, that we’ve created an arsenal of tools, tips, programs, strategies, and trainings to combat the frustration that comes with owning and growing a pharmacy business. After almost two decades developing and nurturing a network of the most progressive pharmacy owners in the nation, we understand some […]
If you have been paying any attention to the headlines, you know that Walmart recently announced the closing of 269 stores worldwide, including 154 stores in the United States. Stores began shutting down just two days after the announcement and have continued over the past few weeks. If one of the store closings is in […]
The Pharmacist of the Year is selected annually based on their commitment to the well-being of their customers and local community and contributions to the independent pharmacy profession. Essentially, this is someone who is known for their committment to moving the profession forward in a positive way. Jason Foil of Lumberton Drug Company in Lumberton, NC […]
Pharmacy Entrepreneur of the Year At the annual PDS Super-Conference, we take time to recognize the exceptional achievements of industry leaders from the PDS community. This year, we presented awards for Pharmacist of the Year, Entrepreneur of the Year and Pharmacy Team of the Year. The Entrepreneur of the Year is selected annually based on […]
Revised: 4/6/16 As we mentioned in our blog post Compounding: An Introduction and Getting Started, compounding used to be the primary function of pharmacists. They provided customized medication for patients, tailoring formulas to individual needs. With the advent of mass drug manufacturing, the role of compounding declined and pharmacists were seen more as drug dispensers […]
Compounding Pharmacies: How to Overcome Negative Stereotypes In an interview recorded at the PDS 2015 Super-Conference in Orlando, Florida, PDS expert, Lisa Faast, PharmD explains how pharmacists can use their expertise to overcome negative stereotypes often associated with compounding pharmacies. Dr. Faast says, “the majority of compounders out there are the most outstanding educated pharmacists…” and […]
Dan Benamoz, RPh, President and CEO of Pharmacy Development Services, discusses the technology trends that independent pharmacists should endeavor to familiarize themselves with. This video was recorded at Pharmacy Development Services’ 2016 Super Conference in Orlando, Florida. – See more at: http://www.pharmacytimes.com/interviews/important-technology-trends-independent-pharmacists-should-know
Independent Pharmacy’s Competitive Advantage Over Chains Dan Benamoz, CEO and Founder of Pharmacy Development Services, always says that the main competitive advantage independent pharmacies have over retail chains is the ability to “turn on a dime.” While chain pharmacies are mass merchandisers, independents are not and should not try to be. Instead, independents should focus […]
Niche is a buzzword we love here at PDS. Of course, niche typically refers to specialty services, but at PDS we see niches as opportunities to stand out and dramatically improve your bottom line. The independent pharmacy landscape has shifted dramatically in the past few years and one of the biggest changes is in […]
The 2016 PDS Super-Conference was our best annual event to date! From the moment the doors opened, the energy was palpable. With 110 best-in-class exhibitors to the awesome keynote speakers like Kevin O’Leary, Michael Michalowicz, Jim Kwik, Jenn Lim and Mike Robbins, all of the components for a game changing three days were in place. […]
Competing against large national chains and mail-order pharmacies is a major challenge independent pharmacies have faced for years. Meanwhile, becoming the most recognized and trusted pharmacy in a local community is another challenge altogether. How will you set yourself apart from local competitors in the coming year? Pharmacogenomics is one method of business expansion we […]
PDS Announces All-Star Lineup for 2016 Business Growth Conference in Orlando Every year, PDS visionary, Founder, President and CEO, Dan Benamoz, personally selects the most impactful keynote speakers, topics and exhibitors to join us in Orlando for the annual PDS Super-Conference. The 2016 lineup is our best ever with business gurus and trailblazers slated to […]
Pharmacy Resolution: Use Smarter Tax Strategies Make 2016 the year that you stop giving the government more money than you have to! When facing financial difficulty, we often think about ways to increase our income, but what about saving more of the money we have already worked so hard to earn? There are countless ways […]
Independent Pharmacy’s Premier Event Every day is filled with difficult choices, but choosing which industry event to attend should be easy. The 12th annual Together Toward Tomorrow Independent Pharmacy Business Growth Super-Conference is right around the corner. From February 25-27, 2016, our nation’s most successful and up and coming pharmacy owners will come together to […]
Never underestimate the power of networking! It may sound too good to be true, but investing the time to speak with like-minded professionals truly has the power to transform your business. That is why Make Networking a Priority is number 2 on our list of 5 New Year’s Resolutions for Pharmacy Owners in 2016. Take PDS President […]
Millennials are the young adults born between the early 1980s and the year 2000. They account for a large part of the American population and they are now having children. With trillions to spend on themselves and their kids, companies are starting to take notice of these millennial parents. We find that millennials are […]
As we begin another year in independent pharmacy, it is time to set forth a plan that will bring greater success than any year prior. In order to meet revenue goals in an increasingly difficult landscape, it’s critical to think outside the box – searching for cutting-edge tactics, strategies and programs. With the potential […]
Running a successful independent pharmacy certainly isn’t easy, but choosing to maintain a positive outlook in good times and bad can make a huge difference. While there are many factors outside of your control, you can always manage your own attitude. Here are seven simple ways any pharmacy owner can choose to maximize happiness […]
2015 was another transformative year for independent pharmacy. From increasing DIR fees to increased competition from e-commerce and large national chains, pharmacy owners faced both familiar and brand new challenges nationwide. As 2015 comes to a close, it is time to develop a strategic business plan for 2016. While you may be able to […]
A professional social event can be great for your success and your stress levels. Happy hours, mixers, receptions and other after-hours events are great opportunities to network, learn from your peers and have a good time. You should plan to attend them regularly, but be prepared to put your best foot forward. Maintain your […]
Are you thinking about launching a pharmacogenomics (PGx) program in your pharmacy, but aren’t sure if people in your community will pay for it? The answer is yes, they will! In fact, multiple PDS Members are selling numerous tests and clinical consultations per week for cash (often a $150 profit!) and are experiencing tremendous […]