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COVID-19 and Your Pharmacy

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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 pharmacy industry.

Independent pharmacies have the chance to lead the charge and bring guidance, solutions and resolve for their patients and communities. As people continue to look for answers and ways to protect themselves and their families, PDS continues to compile resources and provide ideas and options so that pharmacies can help combat the spread of COVID-19 and support their communities. We are all in this together.

 

*Updated May 14, 2020*

An important update was released on May 13, 2020 that provides clarification around how SBA will review borrowers’ required good-faith certification concerning the necessity of their loan request.

LEARN MORE

Even as some of the country starts to open, we are all still trying to navigate this situation. The last two webinars in our series have been focused on continuing to grow and improve your pharmacy during COVID-19. We discussed topics on how marketing looks different right now (but is still necessary) and best practices to lead your team and continue to drive success. The replays are available if you missed it.

WATCH

 

*Updated May 5, 2020*

Advertising for your Pharmacy in the COVID Crisis

How are you letting your community know that you’re open for business during the COVID crisis? Leventhal Productions is a specialized advertising agency that has established itself in the independent pharmacy community and healthcare industry over the past 30+ years. Get in touch and let us help you spread the word that your pharmacy is open and ready to serve the community.

 

*Updated April 23, 2020*

*NEW* Paycheck Protection Program (PPP) Update

The first iteration of the Paycheck Protection Program was funded with $350 billion and ran out of money within 13 days. The only reason it took that long was because the banks had to get their portals and systems in place. The next round of funding that will be coming, is expected to run out of funds even faster.

If you didn’t get funded during Round 1, here is what you need to know to be ready for Round 2:

  • If you have an approved loan that is not funded yet, there is nothing you need to do
  • You can apply at a different institution with no penalties. Many members have expressed frustration with the “big banks” so you can move your application to another institution
  • Review information on the available PPP and EIDL programs from the SBA
  • Review HealthGrowth Pharmacy Solutions’ website for necessary documentation, application, and other important information
  • Ensure your application is filled out completely and correctly and submit your application to the bank of your choice
  • Once the next round of funding is approved, get a confirmation of approval from your bank


Proceed with Caution on Antibody Tests

(This is from our friends at NCPA but we wanted to share here in case you missed it). Companies selling SARS-CoV-2 antibody tests are coming at pharmacies from all directions. Before you perform a test on a patient, verify that the test is deemed to be authorized for the CLIA-waived setting by checking the list of test kit manufacturers with an FDA emergency use authorization. There must be a “W” in the column titled “Authorized Settings” for any test to be performed in a CLIA-waived laboratory. This includes test kits that are part of a telehealth bundle. Pharmacies that purchase antibody test kits in anticipation of the product becoming authorized for use in CLIA-waived settings do so at their own risk.

 

*Updated April 16, 2020*

COVID-19 Testing and Resources

With the recent HHS announcement surrounding COVID-19 testing by pharmacists, we are sharing information and where to purchase testing kits. Please understand that PDS is only relaying information as it is developed, and during this pandemic time, pharmacies and pharmacists need to follow state and federal law while ensuring they are testing in accordance within all applicable guidelines. 

Updated CLIA Certificate Waiver Requirements

As of 4/16/2020,  it was announced that pharmacies will need a CLIA Certificate of Waiver in order to participate in testing: if you plan to offer COVID-19 testing in your store, you will need to have a CLIA Certificate of Waiver. For most, this is a very easy process. Fill out the application and mail it in to your state. The form is used for different types of labs, so NCPA has a short video to show you how a pharmacy would likely want to complete the form. You’ll find the video link near the top of the NCPA Coronavirus Information Page.

HHS Statement


CLIA Testing Information


NCPA Guidance on Testing

 

*Updated April 9, 2020*

Rapid Test for the Detection of COVID-19

COVID-19 Rapid test kits are becoming available through different channels. This is not a diagnostic test, but a test to determine if the patient has developed antibodies against the infection.


Physician 360

Physician 360 has announced that rapid tests to aid in the diagnosis of COVID-19/SARS-CoV2 are now available! Learn more about Physician 360 rapid tests.

Your pharmacy can offer the benefits of:

·       Rapid serology test for SARS-CoV-2

·       Detects IgM and IgG antibodies

·       Results in 10-20 minutes

·       Telemedicine consult included

ORDER THE PHYSICIAN 360 RAPID TEST


Drugstore2Door

The COVID-19 Rapid 10-minute test kits are also still available for pre-order through Drugstore2Door. Results are available in 10 minutes and are 98.6% accurate. Drugstore2Door has provided additional test information for you to learn more.

PRE-ORDER THE COVID-19 RAPID TEST

 

The COVID-19 POC test kit is NOT a take home test kit, and the FDA has specific guidelines for pharmacists to follow.

  • A Pharmacist must screen (see CDC guidelines) for an active virus infection before a test may be administered
  • The testing sites can be inside, drive-thru or set up outside
  • Screening and test results must be documented and reported


Paycheck Protection Program (PPP)

The Paycheck Protection Program Application is now available. This program authorizes forgivable loans to small businesses to pay their employees during the COVID-19 crisis. Funds can also be used to pay interest on mortgages, rent, and utilities. We encourage you to speak to your financial advisor and take advantage of this opportunity.

PPP Overview

PPP Borrower Information Sheet 

PPP Borrower Application 

PPP Interim Final Rule *NEW*

 

*Updated March 30, 2020*

CARES Act

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed Friday by the House. The act makes small businesses with 500 or fewer employees eligible for emergency grants and a forgivable loan program. There are also changes to rules for expenses and deductions meant to make it easier for small businesses to keep employees on the payroll and open for business. The legislation helps small business pharmacies’ employees as well, which is important as they are serving on the front lines of care during this pandemic. NCPA created a summary of the relevant provisions to help independent pharmacies.

READ THE NCPA SUMMARY

 

*Updated March 23, 2020*

Donate to First Responders

PCCA has developed four simple steps for the donation of hand sanitizer to first responders. This is an amazing way for local pharmacies to give back to their communities!

LEARN MORE

Webinar: Pharmacy Financial Health in Time of Crisis

With this pandemic, high demand, inventory turns, and changes in operational procedures are all impacting your pharmacy.  This webinar features tips and advice from PDS financial experts about maintaining your pharmacy’s financial health.

WATCH

COVID-19 Solutions to Help Your Pharmacy

We are focused on ways to help you keep your pharmacy and your patients healthy during the COVID-19 pandemic. Our most recent webinar featured solutions to help you better serve your patients and communities. Discover products to help combat the spread the virus, and direction on where to find high-demand disinfectants, test kits, and more.

 

 

*Updated March 20, 2020*

Updating Your Store Policy During COVID-19

It is important that during the time of the COVID-19 pandemic, independent pharmacies have guidance about new, short-term store policies. We have created a store policy document that many of our members are already implementing in their stores. We hope this will help give you some organizational structure and procedures in a time when things are constantly changing. Please feel free to use some or all of it and adjust according to your specific business needs.

DOWNLOAD COVID-19 STORE POLICY

 

*Updated March 18, 2020*

Special Edition Webinar – COVID Disinfecting Agents and Where to Buy

Sourcing hand sanitizer, masks, and cleaning supplies is getting harder by the hour.  PDS has vetted and found some suppliers that will have many high demand products available. Watch the following webinar to learn more.

  • Disinfectants
  • Hand Sanitizers
  • Masks
  • Tuzistra Cough Syrup
  • 1st Defense Nasal Screen

 

 

 

COVID-19 Resources

We have compiled information related to COVID-19. Please see below for resources related to operations, procedures, sanitation, best practices, and policies.


General Information


Medication or Supplement Information


Pharmacy Information


Leadership

 

Pharmacists will play a key role in access to healthcare during this outbreak. PDS suggests that you familiarize yourself with your state’s statutes that become enacted during declarations of health emergencies. These statutes often times allow you to refill prescriptions without doctor authorization or temporarily broaden your scope of practice. The best resource is your SBOP website along with your state pharmacy association.

For PDS members, log into PDSadvantage to find the applicable resources in the Knowledge Library that can help you navigate this difficult time such as access to product opportunities and financial resources.  Please contact your Performance Specialists and Coaches – they are here to answer your questions and address your concerns.

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6 Ways to Gain the Trust of Your Pharmacy’s Millennial Audience

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bigstock-MILLENIALS--Concept-Wallpaper-56628638.jpgMillennials, 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 way to securing millennial supporters if you adhere to these six easy tips:

  • Maintain an Authoritative Online Presence

Their ability to find information about you and your products is crucial. If you offer a service at your pharmacy, like a medication synchronization program, put it on your website and publicize it. Millennials did not learn computers and internet skills later in life like older generations – internet access is all they have ever known. They are the first generation to grow up in a digital world and simply will not trust a business without a quality website and reasonable social media engagement.

  • Engage with Them

It’s not enough to just have a website and social media accounts. They want to engage with brands on social networks. 62% of millennials say that if a brand interacts with them on social networks, they are more likely to become a loyal customer. This obviously requires more labor on your part, but will be well worth it when your business expands as a result.

  • Don’t Ignore Their Complaints

Some sociologists refer to the millennials as an entitled generation. What this means for your pharmacy is that ignoring their feelings is a sure way to lose their business. When problems develop, do not avoid them, make excuses or place blame. You should immediately fix the issue. In a millennial’s eyes, the customer is always right and keeping them happy is your responsibility.

  • Never Misrepresent a Product or Service

Remember, this is the group of people most likely to engage with their peer group over social media. Never misrepresent the features, advantages and benefits of a product or promise anything you can’t deliver. One millennial who feels they have been lied to can easily alert hundreds or even thousands of others within seconds, which will cause big problems for you. On the other hand, millennials can serve as irreplaceable ambassadors if they are happy with your business.

  • Let Them Help You Plan

Millennial customers are the future, so why not let them help plan that future? When determining upcoming services or goals, let a group of millennials help you decide on the next big steps. In a Forbes survey, 42% said they are interested in helping companies develop future products and services. Typically, companies create products and hope that their target market will consume them. Millennials don’t like this traditional mindset – they want to be involved with products from the beginning of development. If your pharmacy enables them to be part of your brainstorming, the whole process will be more successful.

  • Donate or Volunteer Locally

Millennials want to stay loyal to a brand that gives back to society. In the same Forbes survey, 75% said that it’s at least somewhat important that a company gives back instead of just making a profit. Millennials love brands that support their local communities and would rather purchase from them than corporate competitors. Your pharmacy can do this easily by rolling out a free children’s vitamin program or other services to benefit underprivileged youth.

If you want to build trust and credibility with your Millennial customers and hold on to them for life, you can easily get started today by watching our free webinar, 5 Ways to Attract, Engage, & Delight Millennials.

 

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5 New Year’s Resolutions for Pharmacy Owners in 2016

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Happy_New_Year_from_PDS-1.png2015 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 slack off on some of the typical New Year’s Resolutions like joining a new gym, your independent pharmacy business is one area that deserves your energy and attention.

What do you really need to guarantee that your business will boom in 2016?

You already know how to be a great pharmacist, but is every available tool on how to be an outstanding business owner already in your toolbelt? The strategies and knowledge that have gotten you this far will not be able to drive your business into the future successfully. Here are the top 5 New Year’s Resolutions that every pharmacy owner needs to dominate in 2016.

  1. Implement a Pharmacogenomics Program

Pharmacogenomics is one of the key aspects of personalized medicine, which focuses on how genes affect the way people respond to medications. We first started talking about it this summer on the Pharmacy Business Advice Blog and have consistently recommended it as a profitable method for expanding your business and staying relevant. We truly believe that pharmacogenomics is the future of medicine! Being one of the first pharmacies to bring it to your area is an opportunity you do not want to miss. Click here to learn more and access our free webinar, Introduction to Pharmacogenomics.

  • Make Networking a Priority

As an independent pharmacist, it’s easy to discount the fact that you are part of a large, impressive community, which is why networking with peers has proven to be an invaluable tool for thousands of pharmacy owners just like you. By investing the time and money to attend industry events, you will generate new ideas, gain emotional support and acquire valuable business advice. Just because you own your own business does not mean you have to “go it alone.” Make 2016 easier and better by networking and spending time with other independents who understand and support you.

  • Use Smarter Tax Strategies

Make 2016 the year that you stop giving the government more money than you have to. There are countless ways to save money on taxes that you don’t even know exist. For example, you can charge your business to hold meetings in your home up to 14 times each year. This creates a deduction on the corporate or business side while creating income that you do not pay taxes on. What other tax strategies are you missing? Start saving money now by watching our free webinar on pharmacy tax reduction.

  • Identify New Ways to Compete in Your Market

Competing against large national chains and mail-order pharmacies is one thing, while becoming the best pharmacy in your own community is another challenge altogether. How will you set yourself apart from local competitors in 2016? Pharmacogenomics is one method of business expansion we will promote in the year ahead, but what else should you be doing? Make it a priority to identify a few new innovative methods to help you compete in your local market this year.

  • Embrace New Opportunities with an Entrepreneurial Spirit

Pharmacy has entered a new Golden Age of Opportunity. The most entrepreneurial, creative pharmacy owners will actually have fun expanding, diversifying and dramatically growing their pharmacy businesses in 2016, while those who fear and loathe adventure, innovation and dynamic change will be stifled. As an independent pharmacy owner, you are now a target, whether you realize it or not. Make it a priority to identify the new opportunities that are available to you, and embrace the changes we will continue to face as an industry with an open mind. Get started by downloading a copy of our free report, “How to Unleash Your Entrepreneurial Power: The Reinvention of Your Independent Pharmacy

What other steps can pharmacy owners take to make 2016 the best year for independent pharmacy?

Believe it or not, these 5 New Year’s Resolutions are just the tip of the iceberg. At the PDS Together Toward Tomorrow Independent Pharmacy Business Growth Super-Conference, more than 1,000 pharmacy owners will come together to discuss key business concerns and learn new easy-to-implement solutions that will expand independent pharmacies nationwide. If you haven’t already reserved your space, you are missing out. This conference is THE BEST place to find out what you should be doing to grow your business now. Click here to learn more and register. We look forward to seeing you in February.

PDS 2016: Learn More & Register Now!

 

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What to Avoid at Business Networking Events

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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 reputation and get maximum benefits from the time you dedicate by following these tips.

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Don’t Drink to Your Limit

If you can normally drink three drinks before feeling intoxicated, stick with only two. Don’t push yourself to the limit, because many factors could be involved. For example, what you’ve eaten that day, nerves, or even the bartender pouring stronger drinks than you’re used to consuming. The risk of embarrassing yourself is not worth taking. Once you have a drink in your hand, sip slowly and pace yourself to make it last longer.

Don’t Arrive Without a Goal

Just because you aren’t over consuming doesn’t mean you’re networking correctly. It’s important to go into every event with a goal. If you don’t know why you’re attending this event, you won’t know what to do when you get there and you will wander aimlessly. Prepare yourself ahead of time by determining what you hope to achieve from the event, who you want to talk to, and how long you plan to stay. 

Don’t Take Photos Without Asking

Don’t be tempted to snap photos of others and put them on social media. Often, professional pharmacy gatherings have big-name players from the industry in the mix. It’s easy to feel a little star struck. Although this is true of any public event, it’s especially important at professional gatherings not to take candid photos on your phone. This is highly inappropriate and an invasion of privacy. Ask first, and be sure to let the person know if you plan to use the photo publicly.

Don’t Constantly Look for the Next Conversation Partner

Make the effort to establish a real connection with people during the mixer, instead of just throwing your business card at someone and moving on. While you may want to make as many useful contacts as possible, never look past the person you are talking to find someone better to connect with. This will come off as being extremely rude and will certainly not win you a stellar reputation if it happens often.

Don’t Spend a Lot of Money

Even though it is a business expense, there are many ways you can spend too much on a professional happy hour or reception. If the event is not affiliated with an industry conference, there may be a ticket charge to attend. If you are nervous and unprepared you may be tempted to spend excessively on drinks for yourself and others.

Your after-hours behavior can have a huge impact on your career, so make sure it’s a positive one. Happy hour is the “perfect storm” where you can make a lasting impression, in either a positive or negative manner. Remain professional the entire time and you will have nothing to worry about. These type of events provides a great chance for friends, colleagues, and industry professionals to meet and learn from each other in a relaxed, casual atmosphere.

The best event for socializing with independent pharmacy leaders and learning from your peers is the Independent Pharmacy Together Toward Tomorrow Conference. Attend this year’s event in Orlando, Florida and put your networking skills to the test. Click here to learn more and register now.

 

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4 Signs Pharmacy Owners Can Use To Determine It Is Time For Change

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Too many small business owners run their companies in a hesitant and tentative manner. While your tried-and-true methods may have gotten you this far, they are probably not the best way to maximize your pharmacy’s potential in the coming months and years. In order to determine whether it is time to make changes, begin by making some observations.

  • Are your employees happy?
  • Are your customers satisfied with their experiences in your store?
  • How do you feel about going to work each day?

When it comes to managing your pharmacy, being “good enough” is not actually good enough.  Remaining in the comfort zone can be very damaging to any business. Do not wait until your pharmacy is failing to take action. Here are 4 signs it may be time for a change.

You Wake Up Unhappy

If you are going to sleep anxious and waking up unhappy, it may be time to make changes. Most people have stressful periods in their careers and many will bring that stress home with them. Independent pharmacy owners are certainly no different, but if you are taking stress to bed every night and losing sleep, it may be time to rethink your current workload. Could you pass off some of your daily duties to a manager? Perhaps you are simply understaffed and need to hire more help. Sleep is crucial to your health and happiness, so losing sleep over work-related anxiety is a hindrance to your success.

If you are unable to remove responsibilities or immediately fix what’s troubling you, find an escape that relieves the pressure. Read a book, go for a walk, or start a new hobby. In order to prevent burnout, your life needs a healthy balance outside of the pharmacy.

You Are Only Concerned with Profits

Running any business, especially one as important as a pharmacy, should be about much more than making money. Money can help maintain a lifestyle, but rarely it is not the key to happiness. If you have lost focus on why you went into pharmacy to begin with, it may be time to rediscover that passion.

You Have Little Good to Say

Make a conscious effort to pay attention to your own words and actions. How is your attitude in staff meetings, on the phone, and when dealing with customers? If negativity is seeping into your daily interactions, your unhappiness will impact those around you. Do not let yourself be the reason that your staff is feeling down about the company they work for. Your leadership will set the tone for every area of the business.

You Don’t See the Light at the End of the Tunnel

When you try to imagine your pharmacy’s future, what do you see? What about when you think about your own future? Are you excited about upcoming events, like this year’s Christmas party or your vacation to Disney World next summer? Perhaps all you see is a long, straight road of the same old stress and misery. If you are afraid that pharmacy policies will remain the same, interoffice communication will be as dysfunctional as ever, and everyone seems complicit in maintaining poor customer service, you are heading down a bleak path. Fortunately for you, as the pharmacy owner, you’re the one who can change this.

Many people resist change, and it is easy to see why. Contemplating the unknown is scary, so many businesses stick with the status quo, even if it is no longer working. But those businesses will be far less successful than those who embrace the opportunity to evolve and improve. If you find that you are not happy, your staff is underperforming, or your profits are not increasing in the way you would like, it’s time to implement some changes. Getting started can be overwhelming, but there are plenty of resources available to help you.

Each year, thousands of pharmacy owners attend the industry’s main event, the PDS Super-Conference. They learn about industry changes and discuss new ways to forge ahead successfully. They leave the event feeling energized and ready to implement improvements in their business year-round. Don’t miss the opportunity to gain the support and direction you need for independent pharmacy success. 

Click here to reserve your seat before this event sells out!

 

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