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Dive into our top 2022 suggestions for increasing your non-PBM revenue to grow and stabilize your pharmacy profits. Last week we shared our Top 2022 Blog Resources To Increase Cash-Based Revenue , which covers our first Pharmacy Profit Pillar Cash-Based Revenue. This is a critical pillar to growing your pharmacy profitably.
MCCPDC is able to offer low pricing because they “cut out the pharmacy middlemen and negotiate directly with manufacturers” In this blog, we will explore the differences between independentpharmacies and Mark Cuban Cost Plus Drug Company and how MCCPDC could potentially affect independentpharmacies. .
What primary insurance does the patient have? Also, if the patient has no primary insurance, you won’t be able to use many coupons because they require secondary coverage only. This loss of contract would devastate most independentpharmacies. This restriction is ubiquitous across all PBMs.
One of my favorite methods for increasing pharmacy profitability is direct billing for workers’ compensation. Over the years, I’ve made numerous videos and blogs on using direct billing for workers’ comp to increase pharmacy profitability. We’re dedicated to helping independentpharmacy owners thrive.
Embarking on a career path in independentpharmacy is a significant decision. Independentpharmacies, unlike their larger chain counterparts, operate with a distinct flair. Independentpharmacy salaries vary, but they generally lean towards the lower end compared to big chains. Let’s talk numbers.
Maximize Deductions for Employee Expenses As a pharmacy owner, you likely spend a significant amount on staffing. Deductible Employee Costs: Salaries and wages Health insurance premiums Retirement plan contributions Training and professional development expenses (like going to the Pharmacy Profit Summit !)
PBMthose three little letters have caused more headaches for independentpharmacy owners than we care to count. What to Do: Explain the Problem: Many patients don’t understand how PBMs affect their medication prices and your pharmacy. Use simple language to explain why independentpharmacies are often the better option.
Whether you focus on dispensing prescriptions, selling supplements, or fixing hormones, you need pharmacy patients. . Over the years, I have perfected many tactics that work well for independentpharmacies as we want our patients to come to us, IRL (in real life!). I am a huge fan of guerilla-style marketing.
This means that all six companies, for the foreseeable future, will be able to continue restricting 340B pricing to covered entities that partner with specialty, retail, and independentpharmacies to dispense medicine. 340B providers need to begin a full-court press today.
link] In this illuminating blog post, we cover a wide range of topics that will help you chart a financially secure path: General Personal Finance Recommendations : Dr. Tim Ulbrich shares expert advice on managing your personal finances, setting up a budget, and making strategic financial decisions to pave the way for your medical school dreams.
The Medicare Open Enrollment period for 2023 is quickly approaching – this is a critical time for both your patients and your pharmacy. This leaves very little time before patients need to re-evaluate their insurance. . Below are a few tips on how your pharmacy can prepare for the upcoming enrollment period.
The podcast features a talented pool of nontraditional guests with experience in pharmacy, medicine, and business alike! For more resources to get started, check out some of our other blog post content! , I've been picking up shifts, occasionally at a friend's independentpharmacy. Over the summer.
The Medicare Open Enrollment period for 2024 is quickly approaching – this is a critical time for both your patients and your pharmacy. This leaves very little time before patients need to re-evaluate their insurance. Every year, the enrollment period runs from October 15 to December 7.
There’s no better time than now to support your local independentpharmacy! To put it simply, PBMs are ‘middlemen’ between your insurance company and Oswald’s (or any pharmacy you use) that are supposed to ‘save’ you money. If you’re not a prescription customer—what’s stopping you? Yang Rohr and Sen.
Refill Profitable Rxs Before January 1: We all know the insurance chaos that happens at the beginning of the year. Step 3: Insight Into Your Pharmacy Profit—Reflect on This Year’s Wins (and Challenges) Take a moment to give yourself a pat on the back. ” Create a Marketing Calendar: Decide on your monthly focus areas (e.g.,
We do our best to resolve the prescriptions insurance rejections so your medication isnt delayed. Experience the Difference at Oswalds Whether you need answers about your prescriptions, help navigating insurance, or just want a pharmacy team that treats you like familyOswalds is here for you.
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