Pharmacy Crossroads

Why Taking Fuller Advantage of Technology You Already Own Could Be Your Most Profitable Strategy | Pharmacy Crossroads

Many pharmacy owners invest in expensive technology but fail to fully utilize the system’s secondary and valuable features. This is a costly mistake!  It leaves significant operational efficiencies and profit opportunities unrealized.This program also invites managers to carefully review their tech vendor invoices to ensure new charges have not been added or that fees have not been quietly increased for features in their software agreements.Kevin Minassian, President of DataScan, notes his company provides a wide range of profit-enhancing services at no additional cost while competitors often add additional fees. Visit www.datascanpharmacy.com for more information.
 

WAC Price Decreases Are Happening Now | Pharmacy Crossroads

There is still a lot more you should know about drastic price reductions on key brand name drugs.   The Manufacturer Fair Price (MFP) price reductions have now hit, but there are still things a pharmacy can do to mitigate gross profit loses.  Jay Blackburn, CEO of the Compliant Pharmacy Alliance (CPA) shares several tips, tactics and techniques that he suggests you understand.  It will pay for you to understand and act on now! More information can be had on the CPA website:  www.compliantrx.com 

Urgent! Time Sensitive Information About Upcoming Decreases in WAC Prices; Action Needed Right Away | Pharmacy Crossroads

Major decreases in the price of 15 major brand name drugs will take place over the next few weeks and months. Pharmacies need to look carefully at the affected medications and plan now on how to balance inventory needs to minimize the negative effect lower WAC prices will have on reimbursement.
 
This podcast explains the issue, outlines possible actions to take and directs listeners to a website (www.compliantrx.com) with more details and timelines.

Skin Care is Health Care; How Quality Products Generate Income And Build Relationships | Pharmacy Crossroads

Discover how Mike Carugan, partner in a five-store New York pharmacy chain, is keeping his large front-end pharmacies profitable and growing.In this episode, Mike shares:How Instacart has become a powerful tool for competing online and reaching new customersSmart front-end strategies that keep sales strongHow a long-standing partnership with the owner of Columbia SkinCare turned into a unique differentiator, expanded community outreach, and created high-margin cross-merchandising opportunitiesIf you want practical, real-world insights from someone who is winning the daily battle of independent retail pharmacy, this is an episode you won’t want to miss.

Grassroots Marketing with Bruce Kneeland | Pharmacy Crossroads

In this episode of PharmacyCrossroads, Bruce Kneeland shares examples of simple, effective and affordable marketing, advertising and management tools he has seen others use.  The real lesson, according to Kneeland, is that marketing is essential to a modern pharmacies success. But he also feels that not all marketing need involve buying ads or spending large sums of money.  Grass Roots Marketing, that is getting out, being creative and responding to local opportunities is a great way to grow.

Nebraska Pharmacy Owner Has Found Practical Way To Profitably Fill Branded Rx's | Pharmacy Crossroads

Jed Lewis is an innovative pharmacist that owns four pharmacies in Nebraska.  But Lewis is doing something remarkable!  By working with doctors and incorporating a line of "uniquely formulated" branded generics he has found a way to increase his gross profit by thousands of dollars.  The company he works with is FH2 Pharma and in this episode he tells how he met the company's local sales rep and then started calling on doctors, with suggestions for using the new product line with specific patients, one's that would benefit most of the unique formulations. 
He shares that for nearly two years now he has found the program to be beneficial in two ways; one the products provide an unusually high reimbursement from all the major PBM's.  But, because he visits the doctors and "details" the drug, he has learned how to get-in to see them and in doing so he is picking up a lot of new business as the doctors have come to know him and know he'll take good care of their patients. 
This is a must listen episode.  

Compounding Is A Great Way To Grow | Pharmacy Crossroads

Kyle Panter, PharmD shares insights on how he got started in compounding and some of what he does for Innovative Pharmacy Solutions. He talks about how he does doctor detailing and how his business card, rolled up in a giant horse pill, has proven to be a great tool for getting in to see the doctor.  He is joined by Michelle Bethel, Product Manager from Kalchem International who talks about how her company supports Kyle and other pharmacies by providing quality chemicals and ongoing support.  You can learn more about Kalchem at: www.kalcheminternational.com 
 
Participants: 
Kyle Panter, PharmD, kyle@innovativepharmacysolutions.com
Michelle Bethel, Product Manager, mbether@kalcheminternational.com 

Do You Have the Right Insurance Coverage? | Pharmacy Crossroads

Pharmacist Liability Insurance: Do you know if you are properly covered as a pharmacist? Have you even looked at your policy? Cord Pyles, with Pharmacist Mutual, helps us understand what to look for and ask for in a complete pharmacist liability policy.