The Story Is Told.....

 

of the general manager of a prestigious country club.  While examining the books he was appalled to see how much they spent on shampoo for the men’s shower.  As a first-class club they had a pattern of putting our full bottles of a top-notch brand of shampoo and conditioner and it seems the members were taking the liberty of taking a bottle home with them in their sports bag.

The GM met with senior staff and board members to discuss what they could do.  No one wanted to accuse members of stealing.  Ideas such as putting in security camera’s or checking members bags or even posting signs asking people to not take the shampoo home were deemed too intrusive and dismissed. 

At a loss for what to do the GM eventually went down to talk with the custodian. Since this was such a low-level employee, he did not have much hope.  But he was stunned when the custodian came up with the perfect answer.  He said, “If you want, when I put out a new bottle of shampoo, I’ll can remove the cap.”

What is the morale?  Sometimes the people on the front lines, stocking the shelfs, and working the cash register are in a better position to know how to solve a problem than the people at the top.  Try to involve everyone when solving a problem or trying out a new idea.  

Pharmacy Is At A Crossroads And That Is Good News

Some pharmacies continue to generate sufficient profit by filling ever increasing numbers of prescriptions while using technology to reduce operational costs.  While that may work for some pharmacies that strategy will be hard for most independent community pharmacies to follow. 

Fortunately, creative pharmacy owners and dedicated suppliers have found new avenues for profitable growth. Many pharmacies are successfully incorporating cash-pay services into their practice.   Among them are point-of-care testing, weight loss, health coaching and drug nutrient depletion.  Some of the more aggressive pharmacy owners I know openly talk about how they work with patients and prescribers to take people off of prescription medications in favor of nutritional supplements.   

I recently had a discussion with an innovative pharmacist that is working with physicians all across the country.  He contracts with them to provide a specially trained pharmacist that works in the doctor’s office.  As a contractor the pharmacist meets with patients, provides counseling and does medication reviews.  These services are billed by the doctor using well established billing codes and the pharmacist is paid by the hour for the services he or she provides.      

Pharmacogenetic (PGx) testing is growing as it takes much of the guess work out of prescribing.  True, it is expensive, several hundred dollars per test and most people won't pay; but, some will.  Counseling with the patient on the meaning of the results and then working with the patient’s doctors to adjust therapy is an exceptional opportunity for pharmacy.   At this time, third-party reimbursement for the PGx testing seems to be a ways-off.  One innovative pharmacist successfully selling this service told me he hopes insurance companies never pay, saying, “As soon as they do reimbursement will decline.”  

Then, to the point on almost every pharmacy owners mind, COVID testing and vaccination.  Retail pharmacy has benefited from numerous press reports on how pharmacists stepped-up and helped solve the vaccine administration problem. Building on this platform of success will open doors for pharmacy in lots of new areas.   

The bottom line, filling prescriptions will still be a major component of community pharmacy.  Helping people with their medications is a critical aspect of healthcare; and, one that rightfully belongs to pharmacy.  But it is also clear that dispensing alone will not be sufficient for most pharmacies going forward.   

Community pharmacy is at a crossroads.  Change is coming and the good news is there are already several practice formats that have proven to be practical, and profitable.  But it won’t be easy.  My advice, think, research and then find a new product line, program or service that best fits your communities need as well as your skill set and passion. Then, get started and remember the Nike sports wear company slogan; Just Do It.  

If you own a pharmacy, or if your job brings you in close contact with pharmacy owners, you may want to check out my podcast:  www.pharmacycrossroads.com.  Each podcast runs about thirty minutes and provides information from successful pharmacy owners and industry experts who are kind enough to share their management, marketing and clinical success tips.