Of all the tasks involved in running or managing a pharmacy, leadership often gets the short stick. You won’t find many pharmacy CE courses on “cultivating an effective leadership style”…
Operations
How Communication Style Can Improve Your Management
As a manager, the way you express yourself matters. When you deliver your message effectively, you’ll be able to accomplish your pharmacy’s goals and gain the respect of your employees. …
What Is Decision Fatigue?
You’ve reached the end of a long, busy day, and one of your staff members comes up and asks if they can have tomorrow off. It’s a simple question with…
5 Common Retail Fraud Tactics (and How to Prevent Them)
Shrinkage and theft are unfortunately a part of life for brick-and-mortar retailers. According to the 2020 National Retail Security Survey, retail shrink soared to nearly $62 billion in 2019. While…
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…
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.…
Cultivating Your Leadership Style
Of all the tasks involved in running or managing a pharmacy, leadership often gets the short stick. You won’t find many pharmacy CE courses on “cultivating an effective leadership style”…
How Communication Style Can Improve Your Management
As a manager, the way you express yourself matters. When you deliver your message effectively, you’ll be able to accomplish your pharmacy’s goals and gain the respect of your employees. …
What Is Decision Fatigue?
You’ve reached the end of a long, busy day, and one of your staff members comes up and asks if they can have tomorrow off. It’s a simple question with…
5 Common Retail Fraud Tactics (and How to Prevent Them)
Shrinkage and theft are unfortunately a part of life for brick-and-mortar retailers. According to the 2020 National Retail Security Survey, retail shrink soared to nearly $62 billion in 2019. While…
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…
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.…