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Four Strategic Trends Independent Pharmacies Need to Implement in 2022

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Everyone at Pharmacy Development Services (PDS) is grateful for our conference attendees and exhibitors in Orlando this February. The last two years have brought about many lessons and takeaways. During his conference presentation, PDS CEO Chip Phillips outlined the importance of focusing on what’s next. As a result, we identified four strategic trends that you have an opportunity to embrace and use to drive your business forward in the coming year.

Strategic Trend # 1 – Overcoming the Great Resignation  

Visual Great Resignation Strategic TrendYou have felt the pressure of high employee turnover and burnout set off by the pandemic and The Great Resignation. In a survey of independent community pharmacists conducted by NCPA, 80% say they are having a tough time filling open positions. The first step to taking control is by creating a performance-based culture in your pharmacy business. When your team feels respected, engaged, and sees opportunities for professional development, they truly become your most impactful competitive advantage.   

Attracting and Retaining Top Pharmacy Talent   

PDS is working hard to address the challenges you’re facing regarding team engagement, hiring, and retention. We have partnered with key industry organizations to bring you meaningful solutions. 

  • The Oval Group offers talent management solutions with valuable and actionable employee insight.  
  • National Healthcareer Association® (NHA) has a suite of products designed to help pharmacy technicians and pharmacists work better together.  
  • Parata provides automated filling options that can scale to fit pharmacies and teams of various sizes and capacities.  

Taking advantage of these resources means your current staff will not be overwhelmed with pharmacy operations tasks, and you can attract more new hires that will stay.   

Strategic Trend #2 – Connecting with Patients Outside of Your Four Walls   

The second trend you should consider is enabling customers to do business with you whenever and wherever they choose. Consumer and shopping behaviors are changing rapidly: 

  • Increased use of mobile and digital platforms  
  • Higher reliance on reviews and recommendations   
  • Shifts in healthcare access during the pandemic   

Every major drug retailer has accelerated its strategy toward an omnichannel presence. It is time for independent pharmacies to do the same and allow for the patient’s experience to exist outside the four walls of the pharmacy.

Meaningful Digital Marketing Presence – Omnichannel Strategies  

A well-curated digital presence must be established and maintained for your patients to engage with your pharmacy online. You may even be closer than you think. If you have a website and social media pages, congratulations – you’re headed in the right direction. PDS can work with you to expand your presence in several ways; we can:  

Consumers today are informed and empowered. Highlighting your pharmacy as a community healthcare destination is a non-negotiable in today’s market. Start building patient loyalty by empowering your team, personalizing customer experiences, and letting your customers be your guide. 

Strategic Trend #3 – Expanding Patient Care Services  

“Even with the accelerant of the pandemic, the evolution and adoption of new care delivery models is a marathon, not a sprint.” – Chip Phillips, Pharmacy Development Services CEO.  

COVID-19 increased independent pharmacists’ recognition as the most accessible healthcare provider and opportunities to have a more clinical focus. Coupled with the shift from volume-based to value-based patient care, this is the time to create the healthcare destination your community needs. The strategic trend of expanding into patient care services is indisputable.  

  • Consumers want the convenience of retail care  
  • Practitioners recognize the potential impact on patients   
  • Pharmacists are creating new systems and business models   

Once you’ve adopted the mindset that this change is non-negotiable, the next steps are clear. Continue to nurture the core business of pharmacy, dispensing revenue – while building new revenue streams such as point-of-care testing and collaborative care practices. Your dispensing business creates opportunities to interact with patients seeking services beyond just prescription filling. With those patients, you have a captive audience to promote your clinical and patient care services. 

Do-It-For-You Pharmacy Solutions   

PDSconnect is a new turnkey program that creates meaningful and profitable partnerships with community health practitioners. Begin your expansion into offering patient care services and creating sustainable revenue streams outside of dispensing.   

Strategic Trend #4 – Navigating Uncertainty in an Evolving Industry  

Dealing with the unknown is the biggest challenge of all. The pandemic dramatically changed our industry and the impact is still unclear.   

  • Missed immunizations and medical misinformation  
  • Delayed care and foregone wellness visits   
  • Changes in patient and practitioner communication   
  • Decrease in COVID related revenue   

Navigating uncertainty is a two-pronged approach. First, you must take care of your core pharmacy business. It is your foundation for building clinical offerings and nurturing patient relationships for future growth. Second, it is important to create a roadmap for improvement by leveraging your pharmacy’s performance metrics.

PDS offers an array of long-term and fast-acting solutions for key areas of your business.

PDS is Here For You

The daily challenges of new competition, disappearing profits, and accelerating change force a critical decision: Will you compete? Or simply hang on until you either close or sell? We work with owners who decide to compete.

Discover:

  • How to leverage pharmacy data
  • A clear path to improve performance
  • The power of proven best practices

No longer are you going to wake up each morning worrying about cash flow, wondering if you’re missing opportunities, or hoping for the business to improve. With PDS in your corner, the game changes. You’ll take control, move forward with clarity, and win with confidence.

What Does It Mean to Manage Inventory With Purpose?

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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 on inventory for your independent pharmacy. We’ll do this by highlighting common mistakes, exploring best inventory management practices, and setting attainable goals for inventory turns. 

pharmacy inventory management

The PDS benchmark is 16 inventory turns per year. To us, this indicates that inventory is being optimally managed. Some of our members have even exceeded this goal.  

To achieve this goal, you need to know the ‘why’ behind your inventory levels. For many independent pharmacy owners, the reason is simply that they need to have the right products in at the right time. If you don’t have the right product in, you can’t dispense it. However, if you have too much of a product, it’s sitting on the shelf tying up your dollars. Taking control of your inventory means establishing best practices for satisfying your ‘why’ without overcompensating.  

Some of the most common reasons for low inventory turns are a lack of proper policy and procedure, improper medical synchronization program, and a lack of team education. 

The Impact of Inventory Control 

In an ideal world, you would order your inventory and close up at the end of the day with nothing on your shelves and have no out of stocks. You would open the next day and have the same result. Although this isn’t a realistic goal for most pharmacies, it’s an important image to keep in mind when managing your inventory. When you optimize your inventory management with this in mind, you’ll experience greater operational efficiency, improved cash flow, and enhanced employee and patient satisfaction.  

Creating a clear and straightforward process around inventory management unlocks operational efficiencies. Providing standardization of processes and reducing duplication of work allows you to reassign pharmacy duties and tasks to improve workflow.  

Unnecessary inventory sitting on your shelf means fewer dollars in your pocket. When you manage your inventory with purpose and intention, reduce overstock, and increase inventory turns, you will generate greater cash flow for your pharmacy. This also means you will lose less money on outdated stock.  

Employees and patients alike will experience greater satisfaction when you take control of your inventory. Staff will be less anxious and patients will deem your pharmacy more reliable when there are fewer out-of-stock products. Watch your pharmacy team thrive when you give them the opportunity to take ownership of this process. 

Inventory Considerations 

As you dive into optimizing the management of your independent pharmacy’s inventory, be sure to consider each of these three areas separately: your medication inventory, your OTC inventory, and your supplies inventory. 

Medication inventory is your main area of consideration because it has the highest value, meaning it has the greatest impact on your cash flow and your bottom line. In a poorly managed inventory, employees will allow your medication inventory to grow out of control to avoid out-of-stock concerns. In an optimal inventory management system, you have calculated the required number of each item to have on hand and your team simply needs to respond to the plan you have in place. 

OTC inventory is important to your pharmacy’s financial health, but it can be easy to forget about. Use the same approach to your OTC inventory management as you do with your medication inventory and don’t hesitate to remove items that don’t sell. You can also take this opportunity to add higher margin OTC items. Think about what your customers are looking for and what you can offer to make your pharmacy stand out. 

When it comes to supplies, your needs will vary based on the nature of your pharmacy. Assess your pharmacy’s unique needs and consider ways to increase efficiency in your supply chain. In your office, this may mean investing in a more energy-efficient printer that takes a less expensive toner. For packaging, you may explore a more cost-effective option for vials and labels. 

Take Control With PDS 

Your inventory metrics and goal setting should not be left to guesswork or trial and error. In fact, when you work with a PDS coach, you’ll have access to calculations and members-only documents to take control of your inventory management. Our worksheets include an inventory control worksheet, an inventory reduction worksheet, and an inventory calendar that will all help you optimize your inventory management and free up much-needed cash resources. Book a free consultation with us today to get started. 

 

See How This PDS Member Pharmacy Slashed Their Inventory By Half 

Watch Webinar >>

pharmacy-vitamins-supplements

Even Pharmacists Should Take Their Vitamins in 2021 

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Every year it’s the same story – January 1st rolls around, and vitamins fly off the shelves as everyone vows to eat healthier, live better, and take care of themselves in the new year. But about halfway through those vitamin bottles, they are forgotten, to be guiltily looked upon whenever you need a cup or something from the spice cabinet.  

What if there was a way for you, the pharmacist, to forge a different path in New Year’s Resolutions? We don’t need to be afraid of failed promises past. That’s if you can leverage the technology of today to help your patients stick to their vitamins.  

pharmacy-vitamins-supplements

The Booming Nutraceutical Industry 

Wellness is on the rise. Every other commercial on TV is about how to feel good inside and out, with numerous new companies popping up to service this exact need. Vitamin delivery services that offer daily pre-packaged and customized doses are popping up everywhere. Fortunately, this industry is big enough for you to still get involved. According to a recent report, the nutraceutical market is estimated to reach $722.49 billion by 2027. 

While vitamin makers were previously responsible for marketing and distributing their products, the pharmacist can help fill this gap and provide additional services to their patients. Instead of having to select from rows of bottles on the shelf, your customers can have a curated experience like those of mail-order services. They also get the added benefit of simpler daily management. Offering home delivery on nutraceuticals can provide convenience for your patients and help your pharmacy stay competitive. With pouch packaging, you can combine these vitamins in the same pouches as any prescription medications, making it easy for patients stay adherent to both.  

How Technology Can Help 

While big vitamin shops like GNC and Vitamin Shoppe are running towards packaging technology to compete with other mail-order brands, you already have a leg up. This technology has been used in the pharmacy industry for decades to help patients manage their medications. Even if you have not used it before, the infrastructure and training is in place for you to quickly implement this technology. By choosing scalable packaging technology, you can start with a solution that fits your current needs and volume and seamlessly builds as your business grows.  

In a retail setting, incorporating packaging technology for nutraceuticals also allows you to reach a larger segment of your community. That includes those not taking maintenance medications. By catering to their wellness needs, you are building customer retention and loyalty to your pharmacy.  

For long-term care, your patients may already be looking elsewhere for vitamins and supplements. By offering these in-house, you have better oversight of their complete medication and supplement regimen and can capture the revenue associated with these services.  

Healthy Patients, Healthy Business 

Just as with prescription medications, adherence is key with any vitamin regimen to see benefits. By incorporating the two into one pouch, you can also have better inventory control over how many – if any – vitamins you stock on your shelves. And in the instance of an LTC facility, you can capture the additional revenue from these additions without risking the loss of that business to a competitor.  

 

 About Parata 

Parata offers the most comprehensive pharmacy automation portfolio to support improved patient outcomes, improve medication adherence, and provide more time for pharmacist-led value-based care. Comprising medication adherence packaging, dispensing technologies, inventory management, and workflow solutions, Parata’s solutions help people lead healthier lives.  Scale and stay out in front on parata.com. 

 

What Do Pickles and Customer Service Have in Common?

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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 the size of your pharmacy, excellent customer service should be at the heart of your business. So, how do you go above and beyond to give customers extraordinary customer service that they can’t find anywhere else?

Bob Farrell is an entrepreneur, author, and motivational speaker whose infectious attitude about delivering exemplary customer service has changed the way that countless businesses treat their customers. Bob’s customer service mantra “Give ’em the Pickle!” was born from a letter he received years ago when he opened the very first Farrell’s Ice Cream Parlor in Seattle, Washington. In that letter, a loyal customer vowed that he would not return to Farrell’s restaurant because the waitress wouldn’t give him an extra pickle—unless she charged him.

Can you imagine losing a loyal customer over a pickle? Giving away “pickles” is a way for any company to keep their customers happy, exceed customer expectations, and differentiate itself from competitors. So let’s talk pickles.

What it means to “give ’em the pickle.”

Pickles are those special or extra things that you do to make your customers happy and keep them coming back. A “pickle” could be a handwritten thank you note with every order shipped or walking a customer to the item they’re looking for instead of just pointing them in the right direction. A pickle could be calling your customers by name or answering the phone with a smile and positive attitude. Every little thing counts and every effort helps improve a customer experience. If it makes the customer feel good about themselves and their visit to your pharmacy – it’s a pickle.

The trick is to figure out what your customers want and then to make sure they get it. Find those simple extra things that make customers happy. In his book, Farrell points out the common sense that seems to be not so common in this day and age. In fact, the art of customer service is in danger of becoming extinct. Just walk into any big box store and you will likely experience this for yourself. It is important for every business owner to remember that without customers singing your praise, your doors won’t be open for too long. Providing excellent customer service is not hard, but it can be frustrating and even challenging at times. Bob points out why putting your frustrations aside and seeing the challenge as an opportunity to take care of the customer will make your business the best that it can be for years to come.

4 Key Principles of Customer Service

If you’re interested in raising the bar on customer service (and who wouldn’t be?), there are four key principles that will help you keep your customers coming back time and time again:

  1. Service: Make serving others the number one priority. Great customer service happens when you exceed customer expectations by adding your special touch and by having the courage to make things right.
  2. Attitude: Choose your attitude. How you think about the customer is how you will treat them. A shining attitude is contagious and shows in the quality of your work.
  3. Consistency: Customers return because they liked what happened last time. Set high service standards and live up to them every day. Add your special touch and exceed expectations.
  4. Teamwork: Commit to teamwork. Look for ways to make each other look good. In the end, everything everyone does ends up in front of the customer whether you work the front end or behind the scenes.

Giving away pickles is part of providing excellent service and sets you apart from other similar businesses. Give them what they want and keep them coming back. Give ’em the pickle is a catchy little phrase that is easy to remember and relatively simple to implement. Define your pickle, share the concept with your team, and then implement the program in your pharmacy.

 

Exceptional customer service can not only lead to loyal customers, it can also transform your bottom line. In this eBook, we’re exploring ways to increase sales while creating advocates for your pharmacy.

 

 

 

 

Pouch vs. Blister in a COVID World

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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 changes and challenges for both patients and pharmacists. Coronavirus has increasingly led to many patients preferring “no-contact” or “touchless” services.  

Independent pharmacists can reduce the risk of COVID-19 transmission by limiting contact between staff and patients. Listen to Kyle Lomax and Traci Bayer, RxSafe customers, explain how they are meeting this new “contactless” demand. 

 

RxSafe


Will “Touchless” be the Norm?  

 When the pandemic first started, many people thought it would only last a few weeks. Since then, the rapid and sustained spread of the virus has increased patients’ desire for limited contact, especially with healthcare professionals. 

It is clear that this pandemic will have a lasting impact on the way patients interact with pharmacists. Patients are likely to use pharmacies that offer pouch packaging and “no-contact” delivery services.  

“Our delivery has almost quadrupled,” says Lomax. “I think that our commitment to this wide radius of delivery has really made us stand out in our role, especially in our rural communities.” 

Even after the widespread distribution of the COVID vaccine — which will take the better part of a year — patients may be more likely to limit their contact in order to avoid any type of virus or illness. 

Why is Pouch Packaging Safer? 

Traditional vial filling involves many touch points that increase the risk of transmission. Even after the prescription leaves the pharmacy, there are many more touch points that occur with consumption. William Holmes, CEO of RxSafe, details how quickly the number of touchpoints can grow with traditional vials. 

“Let’s presume now a family member might be assisting someone with opening and closing their vials, that’s 30 times a month that vial gets opened and closed and sometimes pills get poured out into a hand and then the bulk poured back,” explains Holmes. “With each touch, you’re increasing the risk of disease transmission.”  

On average, there are 317,000 touch points per 1,000 patients using the manual card fill system. Using an automated pill packager reduces the touchpoints to approximately 1,140 touch points.  

Pouch packaging automation, such as the RapidPakRx, can drastically reduce touch points. When consuming their medications, patients just have to tear open one pouch. Also, pouch packaging allows for a 31-day script to be filled, decreasing contact between patients and pharmacy staff.  

“Even during COVID, we’ve had very few people go without their medications,” says Bayer, “because their prescriptions are ready almost a week before they’re due.” 


Need additional information?

Learn more about how you can create efficient operations in the midst of COVID with the PDS COVID Optimization Program.  You can also get a sneak peek of the latest PDS member town hall to hear more about how independent pharmacies are adapting their operations to best serve their patients through COVID.

 

About

Are you interested in learning more about how the RapidPakRx can help your pharmacy provide “touchless” service? Visit the RapidPakRx product page for more information.  
immunization program

Starting an Immunization Program in Your Pharmacy

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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 beyond traditional dispensing services
  • Don’t lose prescription revenue from customers who transfer their prescriptions over to a competing pharmacy that offers core and seasonal vaccines
  • Complement and support other chronic disease management services that you offer
  • Improve the overall health status of your community and become the clinical service hub of the area
  • Support medication adherence services like synchronization

 

How do I Get Started With Immunizations?

1. Understand State Regulations Regarding Pharmacist Vaccine Administration

State regulations determine which vaccines can be administered to what types of patients. Not all pharmacists can give all vaccines to all patients.

immunization

The first step is to know what’s permitted in the pharmacy’s own state. One of the most common restrictions is age as some states don’t allow pharmacists to administer vaccines to children under age 18.

Pharmacists need to be certified to administer vaccines in the pharmacy. They are required to take an ACPE-accredited immunization (like APHA’s course). Pharmacists must also be CPR certified and take a bloodborne pathogen or OSHA training.

Another regulatory consideration is reporting requirements. Some states require pharmacies to report the vaccines given and who received them to a state immunization registry.

It is also important to consider whether a state requires pharmacists to have collaborative practice agreements with physicians in order to administer vaccines. Collaborative agreements with physicians allow eligible pharmacists to administer vaccines to patients without individual prescriptions.

 

2. Understand How You Get Paid!

Independent pharmacies are hesitant to launch immunization programs due to complex and confusing reimbursement rules that dictate how pharmacies can bill for vaccines.

This is less of a barrier with the HHS order for Pharmacies to get paid for administration of the COVID 19 Vaccines.

If a pharmacy serves Medicare patients, it must go through the process of getting a PTAN as Medicare Part B provider in order to bill Medicare for vaccines including COVID Vaccines as a medical benefit.

It’s important you automate billing and collections for vaccine services through technology by outsource billing and collections through a third-party vendor. You want too be able to focus on providing clinical services. Hire the billing to professionals!

 

3. Have a Plan to Manage Vaccine Inventory and Supplies

Consider the requirements before ordering your first shipment of any vaccine. For example, planning and ordering flu vaccines for the next flu season starts before the previous flu season ends.

Pharmacies should know the storage requirements for the vaccines they intend to administer. The CDC has guidelines for each type. Some require refrigeration. Others require freezing. That requires a way to monitor temperatures.

In terms of physical space, pharmacies should create a private area in which they administer vaccines to patients. A private room is worth the investment.

 

4. Organize Your Workflow

Pharmacies should think about and walk through their workflows prior to starting a vaccine practice.

  • How will the pharmacy take walk-ins?immunizations form
  • Will you train all the pharmacists?
  • How will appointments be made?

As most experienced immunizing pharmacists can attest, actually giving a dose of a vaccine takes the least amount of time during the entire process. More time is spent by patients and pharmacies completing medical history forms, filling out consent forms, checking and verifying insurance benefits, copying health insurance cards and identification cards, billing for services and arranging and making payments.

Pharmacies should assign the most appropriate person to perform each task, ideally having technicians and other staff do most of the non-clinical work and leaving the pharmacist to administer the vaccine. The goal is not to disrupt the normal workflow of taking, filling and dispensing prescriptions and refills but integrate this new service into the workflow seamlessly.

 

5. MARKETING, MARKETING, MARKETING to Promote Your Immunization Program and Your Clinical Services!

It’s important for independent pharmacies to promote their programs via multichannel marketing campaigns. Your first target should be your current pharmacy patients.

A note about COVID vaccinations – this opportunity is driving new patients to you for FREE!! Spend the time and money to make sure you are getting all contact information for later programs. Also be sure you are educating your staff on how to make these COVID Vaccine patients NEW patients to your Pharmacy.

Vaccine programs can serve as gateways for pharmacies to grow their clinical operations. They can learn what it takes to run a clinical program and become comfortable adding other clinical services to their business. In doing so, they can expand their businesses to succeed in today’s industry.

 

Need More Information?

Learn more about how Community Pharmacists Make a Difference With Immunizations, written by PDS member, Travis Wolff, PharmD and Emma Leffler, PharmD. If you still need more help deciding if starting an immunization program is right for you, schedule a call with PDS and sign up for the 2021 Super-Conference in May.  

Coming out of COVID: Focusing on Growth

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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 objectives for focusing on growth again, written by Ollin Sykes, CPA, CITP and Scotty Sykes, CPA, CFP.

5 Objectives for Boosting Rx Business and Cash Clinical Services

Coming out of the sudden, severe lockdowns from the coronavirus disease 2019 (COVID-19), pharmacies are adjusting to a new way of serving patients and providing services. To build some positive momentum, here are 5 ways that current pharmacy owners are adapting their businesses to serve people. 

 

#1. Crisis-Based Services 

During a crisis, helping your patients and community can also lead to new services. Out of COVID-19, pharmacies have the opportunity to provide items like hand sanitizer, cleaners, safety garments, infrared thermometers, and more. By packaging and pricing a variety of products for the size of company or organization, you help customers quickly get the supplies they need from a local source. 

#2. Managing DIR and GER Challenges

Direct and indirect remuneration (DIR) fees are typically the third largest expense in a pharmacy behind inventory and payroll costs. You can mitigate higher DIR fees by monitoring your Star Ratings, but also by exploring med syncing and compliance packaging. If you can reduce DIR fees by 1 to 2 percentage points through this investment, it’s easy to calculate how such technologies can pay for themselves and more — plus result in happier patients and families. 

As for generic effective rate (GER) challenges and potential clawbacks, which are not influenced by performance measures, make sure that you know which contracts, if any, include GERs or “effective rate guarantees” in the contract language. You can work with your PSAO on contract terms, and also consider a separate inventory for plans with GERs. The separate inventory could be sourced differently with a higher average wholesale price to lessen a potential clawback.

 

#3. Offering Cash Clinical Services

This is a pioneering area where pharmacists can identify ways to keep their patients healthier and prevent or manage larger health problems. It may include phlebotomy and clinical testing to identify and consult on the root cause of ailments that can be treated prior to or beyond medications. Whether that results in non-interactive private label nutritional supplements or food sensitivity solutions, you should explore cash clinical services that make sense for your pharmacy. 

Explore a few private label providers before you move forward with patient testing and consulting. Build relationships with a few trusted vendors, and educate your team first so that you feel confident promoting probiotics or other supplements to patients. 

#4. Building Community Relations

Who are your target patients and customers? Take a look at who they are, the prescriptions they use, their family members, and common health care services. How can your pharmacy add value to their treatment experience and act as a resource? 

For example, Nicolette Mathey, PharmD, a Florida-based pharmacist and a consultant to pharmacists through her company, Atrium24, identified elective surgeries as a trend in her community. So she developed a branded surgical treatment kit for cosmetic surgery clinics. The kits inform patients about surgery preparation and after-care. Often, the patients end up working with Mathey’s pharmacy on any medications or products related to their surgeries. 

Another idea is to join — or have one of your team members join — public social media groups in the community. Interact with parents, coaches, or seniors on healthy living topics. Provide guidance if community members express a need that your pharmacy can solve. 

#5. Enhancing Quality of Life

What happens when your pharmacy becomes a resource in your community during challenging times? You are viewed as a health care provider and a friend, building a network of healthier, informed community members and patients who rely on your business. As a trusted resource, you gradually diversify your services and revenues, which improves your bottom line margins, profits and quality of life. 

Coming out of COVID, make sure that your pharmacy is a part of the larger community and health care conversation. You matter. 

 

Need additional information?

To learn more about how independent pharmacies are adapting their operations to best serve their patients through COVID, get a sneak peek of the latest PDS member town hall.

 

About

Ollin Sykes is founder of Sykes & Company, P.A., and Scotty Sykes is a partner in the firm. Along with a knowledgeable team of counselors and advisors, they help independent and community pharmacies across the U.S. manage industry and business challenges — and thrive. https://www.sykes-cpa.com/ask-sykes/
COVID Testing

COVID Testing: It’s Not Too Late

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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 real!). Many pharmacies think it’s too late to get started with COVID testing – but it’s not. The sooner you start providing testing services, the sooner you will be able to help those in need, increase your patient base, and drive revenue into your pharmacy that the PBMs can’t touch.  

You Decided to Provide Testing, Now What?

Once you’ve decided to bring testing into your pharmacy, the first consideration to make is do you have a CLIA Waiver. 

COVID Testing

If the answer is YES: 

You are ready to go! You’ll want to make sure you are registered as an independent lab for billing (if applicable). With the waiver, you can collect samples and process tests in your pharmacy. You’re also able to bill cash OR insurance for the tests.  

If the answer is NO: 

You will need to obtain a CLIA Waiver if you plan to process directly in your pharmacy or if you plan to bill insurance. Without a CLIA Waiver, you can only collect the samples and send them to a CLIA compliant lab to process. Whatever process you choose, it is highly recommended to get a CLIA Waiver to make sure you are compliant and things go smoothly. The good news is it’s easy and fast! NCPA has a great video that shows you how to complete the waiver.   

Implementation: Start with the Logistics 


Decide what test(s) you will offer.  

Questions to consider 

What options do you want to provide for your customers? Some employers or travel companies require different types of tests. Do you want to provide the Rapid Antigen Test? The PCR Test? Both? 

What kind of laboratory experience is required to administer the test and what level of training is needed? 

What is the test sensitivity and specificity? The more accurate the tests you are using are, the more confidence you will be able to instill in your in patients. Along with this, you will also want to think about the speed of the test and how quickly your patients need results. 

Discuss how you will document and bill for COVID testing. 

Questions to consider 

Are you going to charge your customers directly or bill insurance? You will need to take requirements into consideration. Many pharmacies have found that their customers WILL pay directly or with FSA/HSA. Patients are also able to submit for reimbursement through their medical insurance, and you can support them by providing the proper documentation. 

Will you use a manual / paper process or set yourself up to operate online? A manual system works well for low volume testing but if demand is high, an online system will help you to automate processes and minimize disruptions to the pharmacy’s overall workflow. The advantages of using an online system are it allows you to implement an appointment-based model with automated scheduling, encourages contactless online payments, and it opens the window for vaccinations moving forward.  

Check with your local health department for any reporting requirements. 

Steps to take 

Every state has their own requirements and they often differ, especially on the reporting side. We recommend that you start with your local county health department. They are normally very accessible and they will provide you will reporting requirements, specific forms for testing documentation, and requirements for waste generation.  

Next, check with the board of pharmacy to ensure you are compliant. With the high demand for COVID information, you can often find information in their FAQs or on their website. 

Once you have the logistics figured out, the next steps are to focus on education and workflow for your pharmacy and then execution. You can download the COVID Testing Implementation Plan that will give you the full list of steps you need to take to start testing in your pharmacy.   

COVID Testing Success 

Carolina COVID testingMany independent pharmacies are successfully implementing testing in their pharmacies. By following a strategic implementation plan, educating your employees, and considering the needs of your community, you can provide testing and be profitable. One PDS Member, Carolina Pharmacy Group, started doing curbside COVID testing (both antigen and PCR testing) and saw immediate demand (and ROI!). 

Since December, the Carolina team has done well over 6,000 tests. The pharmacy is not billing insurance and payments are made online. Currently they are experiencing an ROI of 10x.  

“Honestly this is the best return the pharmacy has seen since generics hit our shelves.” 

– Kavel Bhathela, PharmD and COVID Testing Lead at Carolina Pharmacy

Best practices for COVID testing

  • The pharmacy hired outside nursing staff to help with the tests to minimize disruption to their regular workflow and not cross-pollinate the pharmacy team with the testing team.  
  • They gained their team’s confidence by properly training them about the transmission of COVID, proper hygiene and PPE usage.  
  • The pharmacy provided education on the different tests available to the public and their application.   

Carolina Pharmacy is now offering services to help other independent pharmacies provide testing, help their communities, and increase their bottom line. Visit their website to learn more or place an order.  

Need More Information?

If you still need more help deciding if testing is right for you, schedule a call with PDS or watch our latest webinar: Your Blueprint for Successful COVID Testing.  

Click here to view the full PDS COVID Optimization Program. 

pharmacy immunizations

Community Pharmacists Make a Difference With Immunizations

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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 member, Travis Wolff, PharmD and Emma Leffler, PharmD. Travis is the manager and co-owner of Med-World Pharmacy in Sapulpa, Oklahom and Emma is a PGY1 community pharmacy resident.

There are many areas of patient care where pharmacists can have a direct impact, yet a number of them do not have the confidence or understand the potential magnitude of that impact.  

Moving the Independent Pharmacy Forward with Immunizations

If pharmacists want to continue to move the profession forward, seeking provider opportunities, they must gain that confidence and help stakeholders understand the important roles they play. These include conducting diabetes or point-of-care testing, but it is immunizations that provide the clearest snapshot.  

pharmacy immunizationsLet’s go back to the years when pharmacists first saw immunization-friendly legislation being enacted from state to state. The National Association of Chain Drug Stores compared influenza vaccine rates from 2003 to 2013 to cover this period of pro-pharmacist legislation.

During that time:
  • 5.1 million vaccinations could be attributed to the new legislation.
  • The American Pharmacists Association (APhA) Foundation conducted a pilot study that looked at immunizations across 8 community pharmacies in Washington State.
  • The study results showed that vaccine administration rates had increased by 41.4% over 6 months.
  • In addition, for every influenza vaccine walk-in, 1.45 other vaccinations were identified as being due. Of those unmet patient immunization needs, 95% were administered by the pharmacist at the point of care.

Understanding the impact pharmacists have had after receiving immunization privileges greatly boosts the case that they should be given additional responsibilities. After we shared these two studies with our federal and local representatives, they asked us about the local community we served. This led us to dive into our own initiatives.  

Immunization Facts

We will start by laying out some important facts. Immunization is one of the most cost-effective means of preventing disease. Individuals can defend themselves against several diseases by staying up-to-date on all recommended immunizations. Additionally, as more individuals become protected from particular diseases, communities gain a collective immunity that aids in reducing complications, deaths, and hospitalizations. Community pharmacists can reach out to and educate patients in their communities, and administer these preventive immunizations to them.  

Some challenges that providers face are:
  • Consistent accessibility to the adult patient population
  • Identifying patient vaccine eligibility
  • Supplying and administering all recommended immunizations in the office

Patient challenges range from access to reliable information, knowing which immunizations are recommended based on age or comorbidities, and remembering when to receive follow-up doses. By creating pharmacist-led immunization programs, community pharmacies can improve patient outreach, immunization rates, and follow-up doses.  

From the most current data up to 2016, overall immunization rates for hepatitis A (23.7%), human papillomavirus (8.6%), influenza (70.4%), pneumococcal disease (66.9%), shingles (37.4%), and tetanus, diphtheria, and pertussis (26.6%) have increased slightly. Pharmacists have the optimal opportunity to increase these rates around the nation. Our pharmacy targeted 1 specific immunization in 2019, the shingles vaccine Shingrix.  

Seeing it in Action

In 2019, we promoted Shingrix immunizations on our Facebook page and flyers, and through individual discussions with the patients we identified as being eligible to receive them. The determination of eligibility stemmed from our Sync+ program, which analyzes patient profiles to determine chronic disease medication adherence, immunization eligibility, and preventive screening opportunities. Patients aged 50 years or older were identified as eligible for the Shingrix vaccination. Our Sync+ patients were sorted through, alphabetizing by last name. This allowed for a staggered informing of eligibility versus a bombardment of vaccinations on a single day or week. When the program identified a patient as being eligible, we communicated a message through a written note in the patient’s Sync+ basket, as well as a typed note in the patient’s electronic profile. Pharmacy team members could then counsel patients at pick-up time about benefits, eligibility, and what to expect.  

Because of the advertisements and 1-on-1 counseling, our pharmacy, Med-World, more than doubled its Shingrix vaccination rates in 7 months versus the rate in 2018. Of the 447 patients we have analyzed thus far through Sync+, 74% are eligible for Shingrix immunization, 26% of whom have received it. Numerous patients identified have yet to receive their 1-on-1 counseling, because of when their pharmacy system sync day falls during the month.  

Many patients had questions about whether Shingrix is still given if they have already received the Zostavax immunization, and whether it is inactive or live. Patients who previously received Zostavax are still eligible, and we encourage them to receive the new shingles immunization. Although 

immunizations yes or no

Zostavax is a live immunization and carries increased contraindications and precautions, Shingrix is an inactive immunization, which means greater availability to more people. Additionally, Shingrix is 97% effective at preventing shingles in people aged 50 years or older, whereas Zostavax is only 50% to 64% effective at preventing shingles in that age group.

Once patients receive their first immunization, we document the date of their next follow-up dose on their comprehensive immunization spreadsheet and computerized profile note. Each month, a staff member calls patients within the 2- to 6-month period to inform them that it is time for the last dose of Shingrix. When patients have received both doses, the staff make the appropriate documentation. In 2019, our program completed 3.5 times as many follow-up doses versus 2018.  

Conclusion: Independent Pharmacies Impact Immunization Rates

Based on our findings, community pharmacist immunization programs can have an extensive impact on immunization rates, especially regarding follow-up dose rates. Barriers to patient immunization initiation included the ability to contact patients, patients receiving the immunization at a different facility, and cost. Additional research and time are needed to determine the longterm impact that pharmacist-led programs have on immunization rates and follow-up doses. We plan to expand our immunization program to include other immunizations, such as hepatitis B, Pneumovax 23, and Prevnar 13B.  

We hope that community pharmacists across the nation will gain confidence and better understand how to communicate their value to stakeholders.  

If we can have this kind of impact on immunizations, what would the impact be across other point-of-care health services if pharmacists were entrusted with them?  

Next Steps:

Join the PDS Innovate in a Day event on February 11 where we will be talking more about immunizations and other strategies you can implement in your pharmacy now to propel your business forward in 2021.

 

References

Drozd EM, Miller L, Johnsrud M. Impact of pharmacist immunization authority on seasonal influenza immunization rates across states. Clin Ther. 2017;39(8):1563-1580. e17. doi:10.1016/j.clinthera.2017.07.004 Pilot project highlights pharmacists’ key role in identifying and resolving unmet vaccination needs. News release. American Pharmacists Association. Accessed July 24, 2020. https://www.aphafoundation.org/news-release-pilot-results Vaccination coverage among adults in the United States, National Health Interview Survey, 2016. Centers for Disease Control and Prevention (CDC). Updated February 8, 2018. Accessed July 24, 2020. https://www.cdc.gov/vaccines/imz-managers/coverage/ adultvaxview/pubs-resources/NHIS-2016.html Shingles vaccination. CDC. Updated January 25, 2018. Accessed July 24, 2020. https://www.cdc.gov/vaccines/vpd/shingles/public/shingrix/index.html What everyone should know about Zostavax. CDC. Updated January 25, 2018. Accessed July 24, 2020. https://www.cdc.gov/vaccines/vpd/shingles/public/zostavax/ 

Thriving in the NEW Business of Nutrition

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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, independent pharmacists have held an advantage when it comes to selling vitamins and nutritional supplements. First, as part of their undergraduate studies, pharmacists are the best educated healthcare professional to address the basic biochemical concepts of vitamins and supplements. Second, pharmacists have held a position of trust with consumers for decades. While 65% of Americans do search online for basic health information, the knowledge of and trust in the pharmacist is used to validate the health information found online. Lastly, as healthcare professionals, pharmacists are in daily contact with consumers exhibiting various metabolic diseases. These are diseases that have been acquired over time for which pharmaceutical offerings may not be the only options.

Vitamins are More Than a Line of Bottles on a Pharmacy Shelf

Today, vitamin sales account for $100 billion in revenue worldwide, and the U.S. accounts for 36% of that figure. What trends have driven that number?

  • First, there is an increased interest in better health through all demographics. Naturally, Baby Boomers would be expected to hold the greatest percentage of supplement sales, and they do at 36%. What may be surprising is that Generation X comprises 23% and Millennials 16%. All of this combines for a figure of 70-75% of Americans taking at least one supplement every day.
  • There is the increase in preventative healthcare. Celebrity health experts are widespread on social media, online and through multiple communication channels. And supplements have been recognized as being essential to the preventative health process.
  • Self-directed consumers no longer rely on physicians to advise them on their healthcare. Today, consumers search online for answers to their healthcare questions. This consumer self-direction is what is attributed for the increase in supplement sales across all demographics – Baby Boomers, Generation X and Millennials.
  • Finally, brand recognition and brand support are becoming major influencers as consumers search for providers they can trust for their supplement inquiries and sales.

What do Pharmacists Need to do to be Successful in this NEW Business of Nutritional Sales?

  1. Offer a private label as an alternative to the national labels found everywhere. The exclusivity of a proprietary product line, based on quality and product knowledge, provides a valuable differentiator in this competitive area. Coupled with the trust consumers hold for pharmacists, a private label line generates return sales for pharmacist-recommended products.
  2. Ensure that you can be found online. Today, being found online is evidence that you exist. Pharmacists should be prepared to offer their private lines not only in their pharmacies, but through online e-commerce as well. In 2017, sales of nutritional supplements in brick and mortar locations increased 3%. However, sales of nutritional supplements in brick and mortar locations that also offered online sales of the same supplements increased by 20%. The trusted pharmacist who can offer professional quality supplements both in their pharmacy and online can parlay that situation into a position that even Amazon cannot overcome.
  3. Pharmacists need to utilize multi-channel marketing opportunities and support. By using a professional marketing program that provides consistent brand presence through social media, emails, website videos and other communication channels, the pharmacist creates an image of expertise and trust which carries through multiple demographics.

You don’t sell vitamins by just selling vitamins! By combining the pharmacist’s innate advantages with the strategic application of available technology and marketing, pharmacies can realize healthy nutritional revenue streams. Even in this competitive marketplace.

About the Author

Wellness Works helps independent pharmacists develop a profitable supplement revenue stream by creating a branded supplement line for sale in the pharmacy and even online. Wellness Works provides the professional products, marketing expertise, and business and clinical consulting to help pharmacists be successful with supplements.

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