Pharmacy Business

While continuing to be responsible for the important goal of ensuring that “the right patient gets the right medication at the right time,” pharmacy businesses, large and small, more than ever have many business challenges to deal with. These include the increasing use of the Internet and e-commerce to order drugs, smaller overall net margins, especially on prescription drugs, managing cash-flow (especially when stuck waiting for an average of 60-90 days to get paid for products and services), finding and paying for good staff, setting and maintaining the most appropriate hours of operation and dealing with the increasingly greater number of fees related to external services and software needed to operate the business efficiently.

 

In recent times, the RX4 Group and its sister companies in The Adaptive Healthcare Network have solved issues and
challenges in this area such as the following:

  • A pharmacy is considering the opportunity in serving as a “340B contract” pharmacy and needs to design its processes and interface with a local hospital.
  • A pharmacy entering the compounding market and needs guidance on effective marketing to physicians.
  • A pharmacy group is looking to assemble a comprehensive training/development program to upgrade employee interpersonal and customer service skills (and update technical knowledge skills at the same time).
  • A small chain of independent retail pharmacies wants to establish a specialty pharmacy business and need to evolve the best forward path to do this.
  • A consortium of doctors in six close-proximity medical practices is looking to establish a specialty pharmacy and wants to build 3 year pro-forma/prospective financials for the potential business.
Call us on 310.736.4965 to discuss your specific needs and for a FREE consultation meeting.
For more information about our Pharmacy Support services, please CLICK HERE