Your communication style sets the tone for your pharmacy as a workplace. You can have an airtight workflow setup and thorough standard operating procedures, but if you have poor personal…
Business
What Is a Group Purchasing Organization?
A pharmacy group purchasing organization bundles together multiple independent pharmacies to give them more buying power and leverage than they’d each have as a single entity.
How Well Do You Know Your Prime Vendor Agreement?
Most prime vendor agreements are 30 pages or more, and they are stuffed with jargon and complicated incentive structures that make the average independent pharmacist’s eyes glaze over.
10 Cash Services Patients Will Pay For
Avoid PBMs entirely with these 10 services that patients will pay for out-of-pocket.
How to Manage Employee Disagreements in the Workplace
In a small, tight-knit workplace like an independent pharmacy, one disagreement between colleagues can have an outsized effect. Occasional disagreements are to be expected in a high-stress environment, but letting…
Should You Buy a Pharmacy or Start From Scratch?
If you want to become an independent pharmacy owner, it’s not as simple as hanging out a shingle and opening up shop. The first major decision you’ll have to make…
How to Buy a Pharmacy: 5 Steps to a Profitable Purchase
Inside: How to buy a pharmacy in five steps, including how to get funding and perform a fair market valuation. Whether you are hoping to expand your independent pharmacy empire…
FIFO, LIFO, or FEFO: Which Inventory Valuation Method Is Best for Pharmacies?
Inventory is a pharmacy’s most valuable asset and a crucial line item on your balance sheet. Knowing how to properly value your inventory for accounting purposes can help you better…
6 Inventory Management Formulas for Pharmacies
Inside: Use these inventory management formulas to minimize costs, free up cash flow, and keep your pharmacy in the black. Inventory is the crux of every independent pharmacy business, and…
One Community Pharmacy’s Best Strategy for Surviving PBMs and DIR Fees
John McNeill, owner of Nichols Southside Pharmacy in Corpus Christi, Texas, is facing the same challenges confronting all independent pharmacy owners today: bottom-barrel reimbursements and unpredictable DIR fees from PBMs.…
How to Calculate Depreciation for Pharmacy Assets
Knowing how your assets depreciate is critical for when tax season comes around. Instead of deducting the whole cost of your new purchase all at once, depreciation lets you write…
12 Communication Mistakes Sabotaging Your Credibility
Your communication style sets the tone for your pharmacy as a workplace. You can have an airtight workflow setup and thorough standard operating procedures, but if you have poor personal…
What Is a Group Purchasing Organization?
A pharmacy group purchasing organization bundles together multiple independent pharmacies to give them more buying power and leverage than they’d each have as a single entity.
How Well Do You Know Your Prime Vendor Agreement?
Most prime vendor agreements are 30 pages or more, and they are stuffed with jargon and complicated incentive structures that make the average independent pharmacist’s eyes glaze over.
10 Cash Services Patients Will Pay For
Avoid PBMs entirely with these 10 services that patients will pay for out-of-pocket.
How to Manage Employee Disagreements in the Workplace
In a small, tight-knit workplace like an independent pharmacy, one disagreement between colleagues can have an outsized effect. Occasional disagreements are to be expected in a high-stress environment, but letting…
Should You Buy a Pharmacy or Start From Scratch?
If you want to become an independent pharmacy owner, it’s not as simple as hanging out a shingle and opening up shop. The first major decision you’ll have to make…
How to Buy a Pharmacy: 5 Steps to a Profitable Purchase
Inside: How to buy a pharmacy in five steps, including how to get funding and perform a fair market valuation. Whether you are hoping to expand your independent pharmacy empire…
FIFO, LIFO, or FEFO: Which Inventory Valuation Method Is Best for Pharmacies?
Inventory is a pharmacy’s most valuable asset and a crucial line item on your balance sheet. Knowing how to properly value your inventory for accounting purposes can help you better…
6 Inventory Management Formulas for Pharmacies
Inside: Use these inventory management formulas to minimize costs, free up cash flow, and keep your pharmacy in the black. Inventory is the crux of every independent pharmacy business, and…
One Community Pharmacy’s Best Strategy for Surviving PBMs and DIR Fees
John McNeill, owner of Nichols Southside Pharmacy in Corpus Christi, Texas, is facing the same challenges confronting all independent pharmacy owners today: bottom-barrel reimbursements and unpredictable DIR fees from PBMs.…
How to Calculate Depreciation for Pharmacy Assets
Knowing how your assets depreciate is critical for when tax season comes around. Instead of deducting the whole cost of your new purchase all at once, depreciation lets you write…