PDS Annual Conference
Employee Performance Management
Front End Profit Ignitor
A veteran of PDS membership, one might think that Bob didn’t have a lot of new opportunities to uncover in 2016, but the industry is always changing, and his PDS Board of Directors group wasn’t going to let him miss out. “Dan Benamoz pointed out that we had a low net profit per prescription,” recalls Bob of that meeting. “We were doing a lot of sync and really focused on getting more patients.” “He challenged us – instead of spending 70% of your time on getting new patients, reverse it and spend that time on your current patients, making them more profitable.” It was an interesting approach to Bob, so he tried it.
After one of the Board of Directors’ onsite visits, it became clear that his store had a particularly large number of diabetic patients, and there was a huge opportunity to leverage the PDS Pain Protocol to increase profits within his store. “I challenged my team to switch to those products that improved our profit margin,” says Bob, “but we didn’t want to put all our eggs in one basket with the Pain Protocol. We wanted to increase our profits with other items, too.” Tyson Drug Co. stayed focused and engaged on this goal all year. Bob even gave a bonus at the end of each month to employees producing great results in order to move the needle more effectively. What Bob found was that it was really a matter of looping in his team to the strategy and rationale behind a lot of the programs. “We realized the importance of team meetings on a regular basis.”