For a small business, most negotiations have the potential to feel high stakes. One unfavorable deal could have read more
The exact point at which your pharmacy goes from losing money to making a profit is known as the “break-even point,” and it’s a crucial metric to help you stay in business for the long-term. read more
During the pandemic, the flu had the year off. But it’s back from its leave of absence and it could be worse than ever. read more
Whether you just opened your first independent community pharmacy or you’ve been in the business for years, having a solid business strategy is essential to growing your pharmacy. read more
In his seminal business text Purple Cow: Transform Your Business by Being Remarkable, Seth Godin breaks down why standing out is so critical. read more
Learn how four companies grew into national successes — and why two didn’t make it. read more
When you take the time to learn about your rivals’ strengths and weaknesses, you gain a competitive advantage read more
Although no one expects you to stay open 24/7, even a small adjustment in your business hours can be a huge help to your patients and boost to your business. read more
Your pharmacy could face an audit at any time. Here’s how to prepare for the most common audit citations. read more
Specialty medications make up half of all drug spending in the United States. Are you missing out on half of all the money in pharmacy? read more
Inventory cost is everything at the seven pharmacies in the Muscogee (Creek) Nation Department of Health. read more
“This type of planning allows business owners to determine what they want their business to be and allows them to dream in a structured way.” read more
A former FBI hostage negotiator takes the lessons he learned in high-stakes situations and applies them to more commonplace negotiations. read more
Find out why these American pharmacies are getting a leg up on the competition. read more
In their book Peak Performance, consultant Brad Stulberg and performance coach Steve Magness use new scientific insights to explore how people can perform at the top of their game without hitting a wall. read more
A recent experiment found that people with this ability were higher performers than people without it. read more
You went to school to learn how to become a pharmacist, but now, as an independent pharmacy owner, read more
Pharmacy owners experienced in offering pharmacy diabetes programs offer up some solutions to help increase margin and earn some money for the services. read more
As the old fuel of pharmacy business sputters, many pharmacies have started to look to new sources to energize their business. They’ve embarked on unexpected endeavors to power their profits and help their patients, and now they’re sharing their successes with you. read more
There’s no doubt about it—the independent pharmacy industry is shrinking. Average annual sales per location are down from read more
As an independent pharmacy, everything revolves around inventory. As your biggest business expense, it’s also your best opportunity read more
In a troubling trend for independent community pharmacies, digital pharmacy operations are attracting investments from venture capitalists. Here’s how to keep your edge. read more
Learn the advantages and disadvantages of the most common business structures for independent community pharmacies. read more
Negotiating intimidates the best of us. One wrong move can lower your margins or cost you customers. As read more
Between changes from the 2017 Tax Cuts and Jobs Act and a variety of coronavirus relief packages, sorting through your pharmacy’s financial information to prepare for tax season may feel more daunting than normal this year. read more
The success of your independent community pharmacy relies on properly managing your most valuable assets. read more
How to save time by outsourcing important non-pharmacy work to the pros. read more
Look for a pharmacy drug distributor with these traits. read more
Leverage basic economics to make better business decisions for your pharmacy. read more
Find out what workplace bottlenecks could be affecting your pharmacy’s productivity. read more
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The business magazine for independent pharmacy
Elements magazine is published quarterly in March, June, September and December.
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