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Big data and analytics are everywhere—including in independentpharmacy. But is the collected information being used to help with documentation, care planning, and reimbursement?
Mentorship in independentpharmacy is important for owners and those coming up behind us. As independentpharmacy owners, we often find ourselves juggling numerous roles and responsibilities. One crucial role that is often overlooked is mentorship in independentpharmacies. Not each other.
Documenting Business Meetings Having business meetings isn’t enough; you must document them properly if you want to protect your corporate veil. This documentation proves that your business decisions are made formally and thoughtfully rather than haphazardly. – Signatures: Have all attendees sign the document.
Document and Track: Keep detailed records of your interactions, billing submissions, and payments. Let’s work together to turn independentpharmacy ownership into a rewarding and profitable venture. We’re dedicated to helping independentpharmacy owners thrive.
Trading Partners All products ordered by the Pharmacies must be ordered and received from authorized trading partners (wholesalers and manufacturers). The post DSCSA Postponement And What It Means For IndependentPharmacies first appeared on DiversifyRx. Identifiers All products received must contain a product identifier.
Many changes, requirements, and increases in enforcement are heading to independentpharmacy owners in November. In a recent podcast, Jeff Hedges from RJ Hedges shared with us some of the new items the DEA is looking for in your pharmacy. Without proper documentation, it’s as if the conversation never happened.
This week’s tax-saving tips for independentpharmacy owners come from Sean at Integrity Pharmacy Consultants. I highly recommend Sean and his team if you are buying, selling, or transferring a pharmacy. See the original post HERE. We highly recommend Sean.
Pharmacy Owner Overwhelm Is Everywhere I recently received an email from a Pharmacy Badass Member that I suspect is what many independentpharmacy owners face: overwhelm. If you want to be laser-focused on improving your pharmacy’s profits, I invite you to check out our membership.
This record-keeping includes detailed documentation of the product’s history and movement through the supply chain. Document Everything Meticulous record-keeping is a fundamental aspect of DSCSA compliance. We recommend checking into LSPedia or InfiniTrak as cost-effective solutions for your pharmacy.
Increasing your Non-PBM Revenue is a great way to increase your independentpharmacy’s profits. Having a significant portion of your pharmacy’s revenue tied to a PBM introduces uncertainty and anxiety for pharmacy owners. Currently, most pharmacies operate at around 5-10%. We all detest the PBMs. It is easy.
Common Add-backs in IndependentPharmacies To implement add-backs effectively, it’s crucial to identify the common expenses that can be adjusted. Here are some examples that are common in independentpharmacies and will impact your pharmacy’s valuation.
Additionally, certain commercial insurance plans require a documented period of three to six months of enrollment in a lifestyle program before qualifying for the medication.” If additional documentation is needed, it can be submitted at this stage.” When paying without insurance, a chain pharmacy may be your best bet.
As a trusted healthcare provider, your independentpharmacy has a unique opportunity to support your customers’ wellness journey by offering a thoughtfully considered selection of weight loss products. The global weight loss supplements market grew from $34.5 billion in 2022 to $39 billion in 2023.
Learn more and access PQA's new FAQ document below. Expanding Rural Healthcare Access Express Scripts is aiming to expand access to health care in rural communities through partnerships with independentpharmacies. It addresses background and basics of SDS risk adjustment below.
Provide them with the Parking Lot document HERE to supercharge your action! The agenda should include all pharmacy business to be discussed, brainstormed, collaborated on, announced, and everything between. Timing and Frequency Of IndependentPharmacy Staff Meetings How often should you have team meetings?
If Tresiba isn’t covered initially, healthcare providers may need to provide documentation to support its use over alternative long-acting insulins. Compare prices Prices for Tresiba can vary from pharmacy to pharmacy. Take time to check different pharmacies for the best deal on your medication.
Expanding clinical interventions is a great way for independentpharmacies to begin increasing their revenue. A Guide to Implementing Point-of-Care Testing Services in Community Pharmacy" was developed to broadly help with setting up and providing these services, marketing them in their communities, and navigating reimbursement.
Are you finally thinking of starting a vaccine program in your independentpharmacy? Adding vaccine administration to your list of pharmacy services is a great way to serve and protect your community while increasing your pharmacy’s visibility, revenue, and profit.
They want to see the last two years of financials and other past performance documents. The first option, and the one I recommend, is getting a line of credit from your local bank. The challenge with this option is that banks are rearview mirror lenders. Banks love lending money to people who don’t need it.
For more information, please visit us at [link] or email us at support@pharmacyquality.com. Brittany Boyd is the Senior Manager of Pharmacy Training and Support at PQS working directly with corporate pharmacy organizations and independentpharmacies to improve their performance on medication-related quality measures.
Point of Care Testing (POCT) is a powerful tool for independentpharmacies, offering an opportunity to expand revenue streams and provide essential healthcare services to your community. This comprehensive guide will explore effective marketing strategies to make your POCT services successful.
Your independentpharmacy can utilize this by marketing your weight loss programs, compounds, and services to local prescribers. I created my Compounding Bookmarks many years ago to solve this problem in my compounding pharmacy. You could copy those or create a simple MS Word document to hand out to each prescriber. #4
Proper documentation helps demonstrate adherence to safety measures and regulatory standards. Maintain comprehensive records to aid in incident investigation, support continuous improvement in safety practices, and ensure accountability within your pharmacy.
You can grab the 2021-2022 NCAA document HERE. It is crucial if you are advising athletes at the professional, collegiate, or Olympic level that you know which products are allowed or not. The World Anti-Doping Agency puts out a list of banned substances you can get HERE. Professional sports teams here in the US can each have their own list.
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