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By understanding what led retail pharmacy team members to take these drastic actions, we can look at what independentpharmacies can do to avoid similar issues and also how independents can help members of these communities affected by the closures of retail chains.
There are so many things that go into an independentpharmacy’s success: the quality of patientcare, the range (or lack) of clinical services you provide, the.
In the past decade, there has been a significant evolution of patient needs. In this changing environment, independentpharmacies face increasing competition from retail, online, regional, and mail-order pharmacies.
The beauty of the independentpharmacy industry is how you can put your own unique spin on patientcare. You’re helping patients your way, and your community is.
My goal at DiversifyRx is to make owning a pharmacy fun and profitable again. Empowering your independentpharmacy employees is a great way to reduce your burden and have happy employees. Running an independentpharmacy is both rewarding and challenging. Some fire is always happening in an independentpharmacy.
Non-PBM revenue has become a cornerstone for independentpharmacies striving to maintain profitability and thrive in an industry dominated by Pharmacy Benefit Managers (PBMs). Growing and retaining your non-PBM revenue is one of the keys to success in 2024 and beyond.
Pharmacy cash revenue is a must-have for pharmacy owners. Cash-based revenue is no longer just a buzzword; its a necessity for independentpharmacies looking to thrive in todays challenging healthcare landscape. Relying solely on PBM reimbursements has become a losing game for many.
This principle can be incredibly beneficial in managing an independentpharmacy. Application: Long-Term Planning: Develop long-term strategies for your pharmacy, whether it’s expanding your services, improving your technology, or enhancing your customer loyalty programs.
Follow these 10 social media tips and watch your independentpharmacy grow! However, social media can be somewhat frightening for many pharmacy owners. We are lucky in independentpharmacy that we can use free social media to attract tons of new patients. I love marketing. It shouldn’t be.
With reimbursements dwindling and the so-called “ DIR Apocalypse ” or “DIR Armageddon” on the horizon, no explanation is needed as to why independentpharmacies are seeking innovative ways to expand their revenue streams beyond traditional prescription dispensing.
Your pharmacy team will either be your greatest strength or your weakest link. Pharmacy Team development is a critical pillar for independentpharmacy owners aiming to enhance operational efficiency, boost employee satisfaction, and improve patientcare.
Effective delegation is a critical differentiator between highly successful independentpharmacy owners and those who barely get by. Pharmacy owners are often required to take on many roles to keep their pharmacy running, and you know that it can quickly become too much. Free up your time for the tasks that matter most.
Increased Revenue: Even if you only succeed in direct billing a portion of your workers’ comp prescriptions, the additional revenue can add up quickly, opening up new possibilities for your pharmacy’s growth and success. Let’s work together to turn independentpharmacy ownership into a rewarding and profitable venture.
This is a crucial aspect of patientcare and can significantly improve their experience. Learn more about joining Pharmacy Badass University HERE. The post Injection Stinging Pain: Tips for IndependentPharmacy Owners first appeared on DiversifyRx. We are always here to help.
Let’s look at ways pharmacy owners can adapt to these changes in order to remain competitive and thrive in 2024. Embracing Telehealth Services Telehealth, or the provision of healthcare services remotely through digital communication, has revolutionized patientcare.
There are so many things that go into an independentpharmacy’s success: the quality of patientcare, the range (or lack) of clinical services you provide, the.
DSCSA service and solution leaders Advasur and PRS stand ready to serve dispenser pharmacies for full compliance with current and future DSCSA requirements with minimal disruption to business workflow operations and patientcare. The DiversifyRx team is always here to help.
Pharmacy work is hard work. You’re expected to provide exceptional patientcare in the most hectic and stressful of situations. Furthermore, you have to jump.
Guest Blog by DiversifyRx CRO, Heather Haro In a constantly evolving independentpharmacy landscape, staying up-to-date with the latest products, services, and strategies is vital for pharmacy owners. It allowed me to take in the knowledge of each and add our Pharmacy Badass lens to each exhibitor; how will this raise profits?
More independentpharmacies are realizing that healthcare is undergoing a huge shift. According to Amina Abubakar in her most recent update, “As of 2019…
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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. DiversifyRx is here to help you succeed with your independentpharmacy.
We all agree that maintaining full compliance is a must, AND the details can fall through the proverbial cracks due to the 1,000 other things we are doing to run our independentpharmacies. Staffing and Workflow Hurdles Resource constraints often lead to prioritizing patientcare over administrative duties due to staff shortages.
Your independentpharmacy does more than fill prescriptions. It is a bonafide healthcare destination that can provide exceptional patientcare in several ways.
Castle explained the “how” for going from a conventional approach to a functional system for treating common patient problems. Lauren shared an amazing framework that helps even beginners be successful in implementing a new approach to patientcare. It is essential to point out that Dr.
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Pharmacist provider status would align reimbursement with pharmacists' services and give underserved patients more access to crucial care. Community pharmacists are among America's most accessible healthcare providers, seeing patients an average of 35 times each year.
In the ever-evolving landscape of independentpharmacies, managing pharmacy inventory effectively can make or break your business (and bank account). We highly recommend working with MatchR X to decrease your pharmacy inventory costs and improve profits. This article features our good friend MatchRX as the guest author.
Low pharmacy profitability, shady audits, bad cash flow, negative reimbursements, and many other issues are brought on by PBMs. Our goal is to help independentpharmacies grow their non-PBM revenue to a minimum of 20%. Most pharmacies operate at about 5%. By increasing your non-PBM revenue, you can reduce those worries.
Are you set on starting a new pharmacy, or are you taking over the reins to an established pillar in your community? If you’re starting from scratch, you have the opportunity to run a pharmacy tailored to your unique wants, needs, and goals. What Services Will Your Provide?
Clinical, non-PBM pharmacy growth is not only possible, but it can be easy to implement, help your patients, and boost your profits with remote patient monitoring and chronic care management. Pharmacists play a pivotal role in patientcare, offering essential services such as medication reviews and patient education.
Let’s change our mindsets and explore the tremendous profit potential that comes with bypassing pharmacy benefit managers (PBMs) and directly billing workers’ compensation prescriptions. This option is available to most pharmacies, as approximately 40 states have provisions for direct billing.
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.
Elevate Your Pharmacy: The Power of Preparation Preparation is the only way to make your pharmacy a success. As independentpharmacy owners, we know how crucial it is to stay ahead of the game. The only way to be certain of the future is to create it. The answer often lies in our level of preparation.
Patients were given zero warning and told to find another pharmacy after their current order. This decision has left many patients needing to find a new pharmacy that offers similar packaging services. Many independentpharmacies provide the exact same strip packaging or other similar multi-dose systems.
Corporate demands keep piling on, leaving little room for meaningful patientcare or even a moment to reflect. Meanwhile, pharmacy closures continue unabated, blindsiding pharmacists and their communities. Imagine spending less time on data entry and more time connecting with patients and solving real problems.
As the CEO of RxSafe, Bill Holmes is focused on improving operational and financial performance for independentpharmacies. RxSafe has partnered with GeriMed to make it easier for pharmacies to develop a Medical-At-Home niche. Lisa Faast – Video Marketing For Increased Pharmacy Profits.
-- Melanie Lam, PharmD, PQA Executive Fellow Expanding Pharmacy Services through Performance Programs Nikki Price, Director of Managed Care at Albertsons, joined the PQS by Innovaccer Quality Corner Show to talk about partnering with PQS to expand new pharmacy services and improve patientcare through performance programs.
Understanding and managing this metric is crucial for making informed decisions, optimizing profitability, and maintaining the quality of pharmacy services. Let’s review the Gross Profit Margin for pharmacy owners and how it impacts your independentpharmacy. What should a pharmacy’s gross profit margin be?
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.
Wow your patients with these 10 ideas and ensure your independentpharmacy stays top of mind. Wowing your patients seems like a no-brainer, something your front-end staff is already doing. This offer demonstrates your pharmacy’s commitment to patientcare and enhances the overall experience.
I most definitely want you to dispense the right prescription to the right patient 100% of the time. While patientcare thrives under perfection, embracing failure can lead to significant improvements in service delivery and business operations.
It's no lie that many people that are recognized as the leaders for the pharmacy profession are looking to find new ways to secure the future for the profession. We as a profession cannot be so focused on providing care for the baby boomers and miss what patientcare will be like in a decade, and it would be short-sighted of us.
As far as for med school, I think there's a slightly different focus here, I think the focus is now a lot shifting to patient direct patientcare, interacting with patients showing that you are a human. I've been picking up shifts, occasionally at a friend's independentpharmacy. nathan gartland Absolutely.
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