Pharmacy Marketing Quarterly Winter 2014

PMQuarterly.com | Winter 2014 PMQuarlterly.com

The Pestle Packing Sales

Issue

an interview with Scot Maitland

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Freedom – Supporting YOU From Every Angle.

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KNOWLEDGE Freedom Pharmacy Support Services (FPSS) FPSS offers comprehensive pharmacy compounding support by providing the knowledge, tools, and counsel needed to make compounding pharmacies prosper.

Freedom Pharmaceuticals

CPCSI

Freedom Pharmaceuticals provides you with the highest quality pharmaceutical products and services available and gives you the personalized customer service your pharmacy requires.

CPCSI consists of Lawyers, Pharmacists and former PBM Auditors that work together to guide, consult, and teach your pharmacy how to properly bill third parties for compounded prescriptions.

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Contents Winter | 2014 Volume 3, Issue 10 PMQuarterly.com

EDITORIAL Scot Maitland, Publisher SMaitland@TacitAlmonds.com

ADVERTISING SMaitland@TacitAlmonds.com

PHOTOGRAPHY

4 10

24

A NOTE FROM THE PUBLISHER FREEDOM AND BEYOND AN INTERVIEW WITH JAKE JACKSON

by Scot Maitland

10

ASKING FOR THE SALE

14

WHY DISTANCE LEARNING IS A CONSULTANT SHOULD BE ON YOUR AGENDA RIGHT FOR YOUR

by Michelle Sherman PRACTICE?

16

THINK OUTSIDE OF THE PHARMACY BOX

by Andrew Cole

by Kal Dorji & Chris Munoz

by Fiona Sartoretto Verna

30

Scot Maitland Peter Zullo Dax Dobbs

UPCOMING HEALTH OBSERVANCES

SPECIAL THANKS TO Marilyn Maitland John Di Veglio Dax Dobbs Garry Davis

COVER STORY: Pestle Packing Sales

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Pharmacy Marketing Quarterly is published four times per year as Spring, Summer, Fall, and Winter. Online subscriptions and print editions are available for purchase at PMQuarterly.com/magazine Pharmacy Marketing Quarterly makes all attempts to publish accurate information; however, this publication may contain technical inaccuracies or typographical errors. The reader assumes all risk concerning the suitability and accuracy of the information within this publication. Pharmacy Marketing Quarterly assumes no responsibility for and disclaims all liability for any such inaccuracies, errors or omissions in this publication and in other documents referred to within or affiliated with this publication.

As host of the PharmacyPodcast.com I’ve had the opportunity to interview Scot Maitland before but I’m especially excited to interview him for his own publication, Pharmacy Marketing Quarterly and it’s overdue. Scot has been a huge supporter of the PharmacyPodcast.com and I was thrilled to share what he’s been working on for 2014!

A NOTE FROM THE PUBLISHER Recently I posted a statement on Facebook. “Next time you go to a class or a CE, ask the presenter what’s the last book they read and how long ago it was. Practical knowledge is great.

But everyone’s situation is different. Read a book. Expand your mind.”

My friend and colleague Pat Baloga-Stephens responded with “An even harder question to answer is ‘What book do you remember reading as a child that really resonated with you or shaped who you have become.’”

Easy, the Cat in the Hat. Why? Sometimes life is dreary. The sun isn’t shining, it’s too cold to go out and too wet to play ball. And then “things” come into your life. Sometimes two at a time! They may seem fun or they can become a distraction or they may even cause damage. You may here a voice saying “no” or “don’t do it” or “what would your mother say?” But you don’t have to despair. You just pick yourself up. Sometimes with a friend’s hand (gloves and red and white striped hat not necessary) and smile and make the most of your life!

It’s a little silly I know, but 2013 was a tough year for independent pharmacy. But you know what? We got through it. We worked together. We reached out and got help and we gave help to others.

I’m proud to be a part of this industry and I look forward to the epic things that are sure to happen in 2014! I’m humbled that Todd Eury was kind enough to interview me about my latest project, Pestle Packing Sales. Also check out our newest contributor from Italy, Fiona Sartoretto Verna! And Andrew Cole returns to Pharmacy Marketing Quarterly to show us what we can learn about sales from other sales professionals.

So here’s to a new year and to the health of your pharmacy,

4

Winter 2014 | PMQuarterly.com dic

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HORMONE REPLACEMENT THERAPY HRT Symposium – February 20-22, Las Vegas, Nev. HRT Symposium – July 10-12, Philadelphia, Pa. HRT Symposium – November 20-22, Charleston, S.C. BUSINESS DEVELOPMENT Pain, Wound and Scar Therapy – March 6-8, New York, N.Y. Pain, Wound and Scar Therapy – April 3-5, San Francisco, Calif.

Pain, Wound and Scar Therapy – August 14-16, Houston, Texas MARKETING Marketing and Sales Symposium – May 8-10, New Orleans, La. QUALITY Quality/Eagle Analytical Services Conference – November 14-15, Houston, Texas DERMATOLOGY Dermatology, Cosmeceutical and Skin Care Symposium – June 20-21, Houston, Texas

FREEDOM AND BEYOND

AN INTERVIEW WITH JAKE JACKSON

by Scot Maitland photo by Peter Zullo

Scot Maitland: At it’s core, every brand has a story. Fagron North America is still relatively new to consumers. What’s the story of Fagron North America?

way. At the end of the day, companies don’t do business with companies. People do business with people, and I wanted to do business with the people at Fagron.

with FPSS, Freedom clients get access to a vast array of knowledge, technical support, and formulas. Finally, Freedom’s product offering has more than doubled in the last year and a half based on customer demand.

Jake Jackson: Very good question, Scot. I get this question a lot from current and potential customers. Fagron is a worldwide brand with an astonishing track record. Since it’s inception in 1990, by Ger van Jeveren, Fagron has grown to become the global leader in pharmaceutical compounding. With locations in 30 countries and a team of over 2,000 employees, including hundreds of pharmacists. Fagron has emerged as a brand and company consistent with a mentality for quality, innovation, speed of execution, and scientific-based outcomes.

That is exactly what we are looking to bring into the US market, through our collective, sister companies Fagron, Inc., Freedom Pharmaceuticals, B&B, and DPI. There is so much that the North American market, including Canada, stands to gain by having a global market leader bring in its experience and expertise. It’s going to be a fun ride!

What are some of your objectives for the first quarter and if you can share the rest of 2014?

B&B is known for their expertise in working with controlled substances, specifically CII products. Jason and his team are experts in the area of controlled substance distribution and compliance. They do a great job for their customers and are a resource every pharmacy should access.

What was it about Fagron that made you decide to sell Freedom to them?

Growing up, my nickname used to be Jake the Snake (yes I loved WWF wrestling)! Once I saw Fagron’s logo, it was a done deal! Really, it is not often that you meet a group of people where your thoughts and vision for the future are completely aligned. I am a firm believer in global synergies and constantly stepping outside of your comfort zone to better your personal and professional life. With Fagron, it was clear that our companies were perfectly aligned to create synergies that have never before existed in the US market. Further, to sell my company to a group based out of the Netherlands, and then taking over as President of Fagron North America, I certainly stepped outside my comfort zone in a very positive

Collectively, our companies have high ambitions and goals for Q1 2014 and beyond.

I would keep an eye out for Fagron’s Global Derma Concept, Freedom’s expanded CPCSI offering and a new, state-of-the-art training facility based out of Miami, Florida to launch Fagron Academy in the US market. As you can see, all of our short and long term goals involve product innovation, value-add services, and customer education and training.

How do the four brands work together and what can customers expect from each?

We have four brands in the US market: Fagron, Inc., led by Marije van Dalen in Minneapolis; Freedom Pharmaceuticals, led by Tiffany Turner in Tulsa; DPI, led by Curtis Cole, also in Tulsa; and B&B, led by Jason Dassinger in Aurora, CO. Fagron, Inc. is committed to delivering new and innovative products into the US market.

Examples would be Versatile Cream (and other products from the Global Derma Concept); compounding kits such as Omeprazole & Syrspend SF Alka Kit; Espumil foam base; and Lollibase. Further, Fagron Inc. has a vast offering of APIs and excipients in addition to a full catalog of equipment and supplies.

Freedom has been focused on the third-party market since inception. It strives to provide clarity and confidence to compounders who compound in the third-party arena. CPCSI, led

by Mark Newkirk, is a tremendous resource for third-party education and consulting. Further,

DPI stands for Diversified Pharmaceutical Ingredients. Our goal with DPI is to diversify into areas where the other sister companies are not currently focused, such as vet and other esoteric products that will satisfy all of our customers’ needs.

By having four sister companies, each focused on the market in a specific way, we feel our group of complimentary companies are best positioned for however the market changes.

In turn, collectively, we will be able to meet the ever changing needs of all our current and future customers and clients.

Freedom Pharmaceuticals has held two conferences and we know that Fagron has sponsored conferences in Europe and Australia, will Fagron be adding more educational opportunities for it’s customers through conferences? And if so, will it be separate from the Freedom conference?

Yes, through Fagron Academy, our goal is to hold several educational conferences and clinics separate from Freedom. When fully operational, we anticipate having a conference, class, or other educational opportunity (including a webcast) on a weekly basis. Stay tuned!

PMQuarterly.com | Winter 2014

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ASKING FOR THE SALE Andrew Cole Director of Business Development The Medicine Shoppe Pharmacy

Most everyone knows that sales is a system.

Everyone has their own system and it doesn’t matter if it has five steps, seven steps, or ten steps.

The step that makes me feel most uncomfortable is actually asking for the sale. I worry if its going to make me seem like a pushy cars salesman or effect the rapport that I have attempted to build at the beginning of the interaction. But you can’t close a sale if you don’t ask for one. I’ve attended many sales trainings and I’ve heard that asking for the sale is an art, a science, and even a gamble.

I wanted to know how sales looked to other professionals so I sat down with three sales people in three very different fields. What follows is my interviews with them to see how they handle the steps to asking for that sale.

My first conversation was with a sales professional in inside wireless sales. When I asked Sheila* “When in the interaction and how often she asks for the sale?” she had this to say, “An executive in the company I work for compared asking for the sale to a good comedian delivering a joke. The comic makes a joke at the beginning of the set, references that joke in the middle, and then wraps the end of the show finishing the story where the punch line fits in perfectly. I follow this advice in my day to day activities by making small comments that tie back to what the customer is seeking, multiple times during the conversation. And I continue this throughout the entire process, but subtlety. I want them to anticipate leaving with the solution to their problem, and in this case, it’s a new phone.”

Next, I wanted to know how she works to close the sale. Sheila responded “Shortly after we make introductions and begin building rapport, I ask if they are here to sign up for a new phone. Then I assess their needs. My focus is to treat them with respect but reinforce that they walked in to get a phone and they will leave with one. After we narrowed it down to a couple of choices, I

ask which one are you going to be using for the next two years. I want them to image using the phone, especially the one they really want. I finish by asking them if they are ready to get started.

It is extremely important for me to close the sale the first time they come in. At the minimum my goal is to have amazing rapport built, because the customer doesn’t always realize we are on commission and if they need to hold off their purchase, I want them to come back and visit with me. As for data plans, text messaging, and accessories, I show them their options and always ask which one they want. I educate the customer on the cost of replacing the phone, and how quickly overage charges could occur without the correct plan. Not just so that I can increase my sale, but also because I want a happy customer. And if my customer is with a friend, I always ask if they are getting a new phone too, or if they are wanting another device like a tablet. It’s low hanging fruit and while it doesn’t always work, it costs nothing to try and makes for some highly profitable days.”

Next I sat down with Richard Bailey, a car salesman, who is employed with Green Family Stores. Since I struggle with the stereotype of car salesman I was very interested to chat with Richard. Phones and cars are different purchases but again, I wanted to know how many times and when in the process does he ask for the sale?

“I ask, only after, I have fully demonstrated the product and have addressed why this vehicle fits their needs. Trust is key and I want to show I am focused on their needs. If I lose the customer’s trust, the transaction abruptly ends before it even begins. By this time I should have built enough rapport, identified the problem or pain they are experiencing, and developed a personalized solution. I ask the customer to rate the vehicle on a scale from one to ten. If they give an answer that’s below 10, I ask what would it take to get to a 10. This usually leads us to price and I put that

continued on page 13

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Fagron’s innovative compounding solution

Fagron Omeprazole + SyrSpend® SF Alka kit The challenge Emma (2 year) is frequently spitting up and crying after feeding. Her parents notice weight loss. After consultation with her pediatrician, Emma is diagnosed with gastroesophageal reflux disease (GERD). Emma’s pediatrician wants to treat her with an Omeprazole suspension, fully customized to Emma’s needs.

Fagron’s innovative compounding solution A simple process of adding the Omeprazole and water to the bottle of SyrSpend® SF Alka powder enables the pharmacist to prepare a stable* and pleasant-tasting Omeprazole suspension in just minutes for Emma. The Fagron Omeprazole + SyrSpend® SF Alka kit, cherry flavored, offers the tools the pharmacist needs to help Emma.

* Whaley PA, Voudrie MA, Sorenson B. Stability of Omeprazole in SyrSpend® SF Alka (reconstituted). International Journal of Pharmaceutical Compounding. 2012; 16(2): p. 164-166.

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continued from page 10

aside for a moment to make sure the product itself is what they want. When we get to a ten, I ask If we can reach a price we both agree on are you going to be driving away in a new car today’ It’s important to gain a commitment before discussing the price. Then we negotiate the price, and hopefully they leave in a new car.”

I saved the best for last, craft beer. This interview took me St. Louis, MO, where I spoke with Drew Dunseth the Regional Brewery Representative for Schafly Beer. Schlafly has been around since 1991, has over 50 styles of beer and is one of my personal favorites.

Again I asked how many times and when in the process do you ask for the sale? Drew had this to share, “My industry is a bit strange. Beer is a fairly easy sale, but there are a lot of breweries and there is a limited amount of space. It’s not really beer that I sell, I’m in the relationship building business.

When I go into a cold account I bring samples of our beer, a sell sheet, and my contact information.

I ask to speak with the manager and let them dictate how long this introduction will last. In my industry I rarely make a sale on the first visit. The first visit is to warm that door up to make it easier for me or the distributor rep to sell in the future.

In subsequent visits to this account I will talk to the buying manager, and other staff members about the beers I brought in for them to sample.

I bring new samples, if they’re available, and try to get the buying manager to sample, so I can share information and give more of a hard sell. I will continue to visit this account as frequently as I can, once per month or every couple of weeks or whenever I get back into that market, until they buy some beer, or I get the idea that they are never going to buy the beer. Once the account buys beer I make sure to visit as often as I can.”

So what can pharmacy marketers learn from the industry professionals I interviewed? You can take Sheila’s approach of frequency mixed with subtly to get a commitment and be positive that the sale is going to happen. This can easily be incorporated into your interaction with prescribers. For example, you might ask a prescriber “When you start writing with us you can expect _ _ _ _ _ _ _ _ _ _ _ _.” Or “How many prescriptions a day do you think you will be sending?” It’s all about reinforcing the expectations

and the outcome that you want. There’s a great quote from Henry Ford “Whether you think you can, or you think you can’t--you’re right.”

Next up is the lesson learned from Richard, the car salesman, timing is everything. You can lose the physician in a heartbeat by saying the wrong thing. So build strong rapport, identify the issue or pain, develop a solution and then ask for a hard commitment. You’ve done your homework and you are prepared, so you already known some of their concerns, and have solutions. It’s up to you to build rapport, and ask for the hard commitment like “Will you send me your next five patients?” If they’re less open than you’d like, find out what the prescriber’s toughest cases are and ask for those five patients.

By asking for their challenging patients you are establishing that your pharmacy is up for the challenge.

Ironically it’s the craft beer business that mostly resembles our line of work, not because they are both drugs, but because we have the same issues of a crowded market place and various solutions to similar problems. Prescribers can write retail prescriptions or they may be working with a compounder in your town or one that’s out of state.

Plus Drew is out in the field and has team members in the field to represent his brand. So education is key along with tenacity.

So is asking for the sale an art, science, or gamble?

Well that depends on you and your pharmacy’s culture! Good luck and keep the sales going! *The woman interviewed for inside wireless sales preferred to not be named. For the purposes of this article we named her Sheila.

Andrew is the Director of Business Development at the Medicine Shoppe Pharmacy. He has received a Bachelor of Arts degree in Media Marketing and Management from Southern Illinois University, and a Masters in Business Administration at Universality of Illinois.

Andrew is a Central Illinois native. His sales and marketing experience has come from three corporations and state government.

PMQuarterly.com | Winter 2014

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WHY DISTANCE LEARNING SHOULD BE ON YOUR AGENDA Michelle Sherman RPh, FASCP, AAHIVP MichRx Pharmacist Consulting Services, Inc.

Your workload is massive, your staff is busy and you want to grow you business.

One of the keys to growing a successful pharmacy business is to make sure that your staff is trained and trained well. When was the last time you were able to get all your staff together in the same room at the same time to get training and learn to become a well oiled engine serving your patients?

Probably never...it’s too difficult to coordinate and can be cost prohibitive.

Distance learning or Online training should be on your agenda for 2014 and here is why?

Cost Effective The cost of training yourself and your staff is a fraction of the cost of in person training. Each time you and your staff go to a training seminar or conference you have to pay additional staff to cover your pharmacy. You incur overtime pay, costs for travel including airline tickets, hotels and food. Online training eliminates these costs. With distance learning you and your staff don’t have to be out of the pharmacy.

Flexibility With online training you and your staff can complete the training when time and scheduling allows. The training can be done during work hours or when convenient. (Note that if your staff completes online training courses when they are not at work, you should pay them for their time if they are not salary). The online training is available 24/7 and you’re not relying on someone else’s schedule.

Work at Your Own Pace While there is generally a fixed time within which you must complete an online training course, e.g.

30 or 45 days it allows you to work at your own

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"You incur overtime pay, costs for travel including airline tickets, hotels and food"

pace so you can complete the course, instead of having to sit through an entire day or more of training which often causes overload and you don’t retain as much of the information as you would by going slower and at your own pace.

Trained Staff Your frontline employees are working with and caring for your patients and customers every single day. They are the engine to your business and gateway to your pharmacy’s success. Training your staff is the most important investment you can make in your business in 2014.

Michelle Sherman is founder of MichRx Pharmacist Consulting Services, Inc., a top provider of innovative services and solutions for pharmacists who want to grow and expand their businesses and focus on speciality niche markets.

THINK OUT OF THE PHARMACY BOX Fiona Sartoretto Verna Owner Sartoretto Verna

Why are the traditional gondola style pharmacy and drugstore layouts obsolete.

In the last 20 years, technology and electronics have made huge strides forward; that is why we can not only travel more often, and faster to all over the world, but we can also connect instantaneously with the entire globe in real time.

This increase in the exchange of goods and information has enabled globalization to extend its reach into almost in every city of the world.

For instance, if you were to enter a mall in Kazakhstan, Dubai or New York you would always find the same shops, with the same shop windows and the same products. When we talk of pharmacies, the diversity within the international panorama is even more disappointing. Everywhere low gondola shelves furnish the premises, which have neither communicative signage or lighting, creating narrow aisles that are packed with products; the rest of the displays can be seen aligning the walls. The design result is the equivalent of a storage box, a box that contains a huge variegated quantity of products.

This indistinct collection of products on top of products generates overwhelming confusion for the customer. Whereas in inverse proportions, the gondola shelves themselves underwhelm with a uniformity that is patently not fascinating, pleasant or exciting from an aesthetic point of view. Additionally, orienting oneself inside such an undifferentiated commercial space is not easy; especially if there is not the conspicuous signage hanging from the ceilings. All of this confusion equates into lower profits for retail, but the limits of the gondola style don’t end with their incapacity to differentiate the product. Because, of their limited height, what they display is lost to the eye-level. It is well known that customers only buy what they 16

Winter 2014 | PMQuarterly.com

can see, and so eye-level products have an extra 35% of the customer’s attention in respect to the ones placed at different heights.

The traditional box layout doesn’t work anymore.

The customer wants more than the same old variety of products that are now available even at home by means of a mere ‘click’.

Nowadays, customers want to live a different experience. They want to feel protected when sick, advised when they have doubts, indulged when happy, and are always seeking human contact and a unique experience.

Today’s customers do not go inside a shop only to buy products, they also want to have fun while shopping. Hence, customers’ behavior and their purchases will be influenced by factors such as light, colors, scents, and even music. Therefore, Pharmacy design has a fundamental and important role in your customer’s experience, because it will generate sensory impressions and positive emotions.

The largest part of why today’s customers purchase front end products, is not because they need them, but because they want them. Hence, it is necessary to consider an attractive and differentiating component in the projected layout.

What characterizes the “out of the Pharmacy box” layout?

1. Customer care (through focused professional advice): the customer is to be treated as a special guest, so it follows that the Pharmacy staff has to be trained in this direction;

2. Detailed care (details do make a difference): is important because, even if they may not be visible, they help create the perfect atmosphere; 3. Authenticity: “think out of the box” means being authentic, different, or to “stand out” from the masses, to attract more and more people. People are tired of uniformity; they want to feel that they are important, even at the local shopping center, so pharmacy design also has to be innovative; 4. Communication: The differentiation of merchandising sectors is achieved through demarking different areas, e.g. isles around which natural and sinuous layouts are built so as to follow the customer without being oppressive. Every sector and brand is immediately identified and can be quickly and easily changed and modified by the pharmacist without much effort; 5. Services: in order to make the clients faithful customers, the Pharmacy has to continually introduce new services to support Prevention, Wellness, and Beauty. It has to pass from a place for sick people to a healthcare hub where people get better.

Architect, landscape architect and painter Fiona has lived for several years in the United States where she worked on the East Coast. Married with two small daughters she travels all around the globe researching innovative concepts in retail pharmacy. Currently she is one of the owners of Sartoretto Verna Pharmacy design worldwide (http://www.sartorettoverna.com/) that has its headquarters in Rome, where she lives.

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T i a P P

S f e T r a a a i w f m s

Pestle Packing Sales An Interview with Scot Maitland Interview by Todd Eury Photo by Dax Dobbs

A s B l t r y f a s n s o s b o w s m s P

T h T

As host of the PharmacyPodcast.com I’ve had the opportunity to interview Scot Maitland before but I’m especially excited to interview him for his own publication, Pharmacy Marketing Quarterly and it’s overdue. Scot has been a huge supporter of the PharmacyPodcast.com and I was thrilled to share what he’s been working on for 2014!

TE: So let’s talk about your new initiative, it’s extremely innovative and original and that is Pestle Pacing Sales. Tell us about Pestle Packing Sales.

SM: Well first off Todd, thanks for interviewing me! I am super excited about Pestle Packing Sales.

This is something that has been rattling around inside my brain for about three years now. I thought about making it a book and then a workbook. Pestle Packing Sales is really revolutionary. It’s an eight week course, that is designed for pharmacy owners, and their marketers, to teach them what the sales process is.

And I think that this is huge and something that is greatly needed.

Because, you can go to college and learn how to market or to learn how to become a pharmacist, but there really isn’t a college that teaches you how to sell. I think that’s fascinating because when you look at our everyday lives, we’re always selling. Constantly! Even if you’re not in sales, it might be selling your spouse on where to go on vacation, or Todd you’re a parent, it might be selling your toddler on eating their brussels sprouts. So we’re all, in one way or shape, selling. But what we’re not taught are those steps to selling so we can repeat success more quickly and have better success and that’s why we created Pestle Packing Sales.

TE: You know this just what had to happen in my opinion.

The pharmacy market is rapidly

changing. The emergence and explosion of specialty pharmacy is here and community pharmacy and traditional retail pharmacy is evolving. So compounding comes to mind, it’s kind of a sweet spot for you Scot, because that’s your marketing background, but it encompasses all facets of pharmacy. And I like what you said, a pharmacist goes to school to learn to be exactly that, a Pharm.D. And they didn’t go necessarily to learn to market, and you certainly didn’t go to learn to sell. So, a program that helps a pharmacy owner to sell, script out, plan out and understand the sales cycle, understand implementing and strategy, is an exciting program.

What was the evolution from Pharmacy Marketing Quarterly to Pestle Packing Sales?

SM: Well Pharmacy Marketing Quarterly was born out of the fact that, I had been invited to do so much speaking in Australia and across the United States on how to market your independent pharmacy and I realized there was a huge need for people to get information on how to market. And the great thing about marketing is you can learn it in drips and dribbles. There are small incremental things you can do to impact your market.

However, when it comes to sales; that’s actually a system. And you can’t learn a system with a little bit here and a little bit there. And you’re not going to learn a system over a three day period. You may be introduced to one and get some motivation but you’re not going

to learn it in three days. So I tried to look at what’s out there? What is available to people so they can learn the process? It boogled my mind but there was nothing out there that would teach people from start to finish how to learn the sales cycle. Understand what it is, understand how to deal with objections and how to be prepared for a sales call. The first week we talk about profitability and that’s a unique approach because no one seems to talk about the fact that it’s ok to make money. We look at profitability, we look at who is your ideal customer and what is it about them that you resonate with and they resonate with you. And really understanding them. Then we also look at where are you currently making money? So for a pharmacist that’s been established for awhile, this is a great exercise to look at and see what is making money and quite frankly what is losing money?

A lot of times I think we just forget to look at those. You know, if it ain’t broke, don’t fix it. So we really try to delve in to these different core competencies to figure out what’s going on in your business. Because the more information you have before you even walk out the door, the way better suited you’re going to be.

TE: And going to a conference and sitting in education sessions sometimes can be overwhelming with all the information that you get. But you’re actually giving pharmacy marketers and pharmacy owners a plan and an implementation strategy to actually PMQuarterly.com | Winter 2014

19

take the information and make it profitable. So that’s a piece of this program that I’m impressed with as well.

SM: Absolutely! So after most exercises we have Fun Sheets, because, and I’m borrowing this quote “if it ain’t fun, then the work doesn’t get done”, so we’ve tried to make them fun. They’re really is a lot of self exploration and looking at the pharmacy under a magnifying glass to really get down to the core of what’s going on. Because the reality of it is that you can have two pharmacies, three blocks away from each other and they can have completely different ideal customers, different specialities, different opportunities for making money and so it’s not a one size fits all approach. A lot of times programs try to say if you just follow these steps you’re good to go. Not really, you really need to look at the steps but now you’ve got to do the internal work and that’s probably the hardest part of this program to really get and put yourself under the magnifying glass. To not just look at the skills you have but where your pharmacy sits. And at the end of each week we’re doing something that’s really unique. We’re actually having a live conference call that all the people who are taking the class can actually dial in and ask myself and Lauren Onsa questions as well as build community which is another really important part of learning. Learning doesn’t happen in a vacuum or a bubble, it happens in a community. So we’re creating opportunity for people to be able to engage with one another, ask questions and not just rely on myself but rely on each other because there’s a wealth of information there.

20

Winter 2014 | PMQuarterly.com

TE: That’s an interesting approach Scot. So you’ve brought a on real, proven rock star to help you out, Ms. Lauren Onsa who is director of Marketing at Clinical Compound Pharmacy in Naples Florida. And of course she understands the business from the inside out.

and help.

SM: Well first off I have to mention and thank Letco Medical. They are the folks that came on board and are presenting this program. They gave us the opportunity to start it, so without them, we wouldn’t be moving forward with Pestle Packing Sales. They’ve got a huge commitment to their customer base so big props to them. I’m excited to work with Lauren again.

It all comes down to the power of networking and community.

We met through her boss over a telephone call and have been fast friends since. Lauren is a speaker in her own right, she spoke last year at Compounders on Capital Hill and we’ll both be speaking at the Educational Conference in February in Fort Lauderdale, she is a top notch professional. She’ll be talking on how to be prepared, in module three, to make a huge impact on your sales and she’ll be back on module five on how to find hidden opportunities, .I’m really excited about the program and the idea that we’re creating this community.

In addition to being able to call in to the live conference call each week, the way the website is going to be constructed is that there will be a directory of students so that they can connect with one another and follow them on Twitter or friend request them on Facebook or send them an email. All of this is within the members only section.

We’re also going to have a private Facebook group. So that there’s another area where students can talk to one another to get advice

SM: Well that’s a great question Todd! You can go to PestlePackingSales.com that’s our website. Currently the program is not open so we’re collecting emails from everyone that is interested. Because we have live conference calls we will only have open enrollment three times this year. We’ll be launching it at the Educational Conference, this is a conference that is put on by the American College of Apothecaries, the International Academy of Compounding Pharmacists and the American College of Veterinary Pharmacists and that’s going to be February 5th in Fort Lauderdale.

We are doing a special sign up anyone that signs up during that conference, whether they are there or not, between February 5th and February 8th will get an iPad Air with the registration, as our way of saying thank you for joining us and being one of the first one’s on board. Week one of the program will actually start on Monday, March 1st. So we’ll get people signed up during the open enrollment period and then we’ll hit the ground running on March 1st.

TE: So Scot, I’m a pharmacy owner, I’m a marketer, I’m reading this article and I want to know how to get more information and sign up in the Pestle Packing Sales Program.

How do I do that?

Todd Eury is the Podcaster in Charge of the PharmacyPodcast.com and is also the founder of Prescription Generator.

"If you don't know where you are going, any road will get you there."

- Lewis Carroll

Profitability!

Solutions Your Customers Really Want!

Be Prepared!

Objections Over Ruled!

Treasure Hunt, Finding Hidden Opportunities!

Generating Buzz, Content Matters!

6 Modules, 8 Weeks, 1 Program Tacit Almonds, publisher of Pharmacy Marketing Quarterly, and Letco Medical have partnered to bring you this 8-week online program to help you get your pharmacy business on the road to success.

Visit us online to sign up for our free newsletter filled with free valuable content and see if Pestle Packing Sales is right for your independent pharmacy. Let's get on the road to success!

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2014 Specialty Conferences | 12 hours of CE for Pharmacists & Pharmacy Technicians

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Wellness – What’s Happening?

Where: Renaissance Tulsa Hotel & Convention Center Tulsa, OK Description: Establish your pharmacy as a local health & wellness support center. Education, resources & marketing that will help improve your patients' outcomes & your pharmacy's success. CE sessions will include a variety of topics: Reducing Your Stress; Nutrient Depletion; Andropause; Women’s Health & BHRT; Making Money with MTM Services; Successful Weight Loss Programs for Your Pharmacy & more!

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Compounding – What’s Happening?

Where: Royal Sonesta Harbor Court Baltimore, Maryland Description: Educational & legislative updates for your compounding pharmacy. CE sessions will include : New Federal Regulations & Laws, Are you Prepared?; Sterile Compounding & Recently Passed Laws; This Works for Me!; Marketing Your Pharmacy & Staying Out of Trouble; Dosage Forms; USP Update and more!

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Highwith Performance Liquidsolution, Chromatography (HPLC) analyzed the samples replaced fresh receptor and an aliquot saved for subsequent analfor pentoxifylline, ketamine HCl, ibuprofen, cyclobenzaprine HCl, diclofenac Na, ysis. High Performance Liquid Chromatography (HPLC) analyzed the samples baclofen, bupivacaine HCl and gabapentin for pentoxifylline, ketamine HCl, ibuprofen,content. cyclobenzaprine HCl, diclofenac Na,

FormuLA TeSTeD FormuLA TeSTeD Baclofen ............................................. 2% Bupivacaine HCl ........................... 1% Baclofen ............................................. 2% Cyclobenzaprine HCl.................. 2% Bupivacaine HCl ........................... 1% Diclofenac Na ................................. 5% Cyclobenzaprine HCl.................. 2% Gabapentin........................................ 6% Diclofenac Na ................................. 5% Ibuprofen ............................................ 3% Gabapentin........................................ 6% Ketamine HCl.................................10% Ibuprofen ............................................ 3% Pentoxifylline.................................. 3% Ketamine HCl.................................10% SaltStable Pentoxifylline.................................. 3% LS Advanced™ .................q.s. 100% SaltStable LS Advanced™ .................q.s. 100%

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deliver multiple drugs, beyond the stratumcompounding corneum, simultaneously into Humco’s SaltStable LSintact, Advanced™ transdermal base is proven to and through the human skin after a single dose in the base. deliver multiple drugs, intact, beyond the stratum corneum, simultaneously into and through the human skin after a single dose in the base.

The data indicates that Humco’s SaltStable LS Advanced™ delivered pentoxifylline, ketamine HCl, ibuprofen, HCl, diclofenac Na, baclofen, The data indicates that Humco’s cyclobenzaprine SaltStable LS Advanced™ delivered pentoxibupivacaine HCl and throughNa, human fylline, ketamine HCl,gabapentin ibuprofen, simultaneously cyclobenzaprineinto HCl,and diclofenac baclofen, epidermal cultures, in vitro, from the test formulation provided.

The absorption bupivacaine HCl and gabapentin simultaneously into and through human profiles indicate thatinpentoxifylline, ketamine HCl, ibuprofen, diclofenac Na, epidermal cultures, vitro, from the test formulation provided.

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And cyclobenzaprine HCl, baclofen and gabapentin had a steady and bupivacaine HCl had a steady penetration occurring for 32 hours after dose penetration for 48 hoursHCl, afterbaclofen dose application. application. occurring And cyclobenzaprine and gabapentin had a steady

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IS A CONSULTANT RIGHT FOR YOUR PRACTICE? Kal Dorji & Chris Munoz Co-Founders ITL Consulting

One powerful solution is working with a pharmacy consultant With the advent of change rapidly seeping into pharmacy compounding, independent pharmacy owners are scouring their professional networks and other resources for expert advice. The pace at which these changes are taking place, however, often renders busy owners unable to produce an appropriate, proactive response. With so many aspects of the pharmacy business continuously being regulated to the point of squeezing margins keeping the business profitable is becoming increasingly critical. This begs the question, what further measures can pharmacy owners take in maintaining operational fluency and preventing disruption in their practice during such pressing times? One powerful solution independent pharmacies may not have considered is working with a pharmacy consultant.

In today’s complex business environment, companies that have not worked with a consultant are a definitive minority. The opposite is true for independent community pharmacy, where consultancy is often overlooked. Regardless of the reasons for why this may be, there is value to be discovered in harnessing the power of a well trained consultant.

Consultants strive to be experts in their chosen specialization. They do the research-intensive, paper-heavy grunt work in order to achieve a broad perspective of the available data with the intention of creating the best solution for a client. Like the vast majority of large businesses in other industries, pharmacies can greatly benefit from this type of specialized knowledge when facing challenges that require more than just a quick fix.

Here are 5 useful examples demonstrating how pharmacy consultants provide value and can amplify a competitive advantage for a pharmacy practice: 24

Winter 2014 | PMQuarterly.com

Expert Content When it comes to business, often times what is missing is knowledge and expertise in a particular arena to allow a pharmacy the confidence to expand into a particular market.

Consultants provide content expertise to fill potential knowledge gaps needed to make a new endeavor successful. Frequently, a consultant may assist a pharmacy owner by developing new marketing strategies, providing understanding of regulatory compliance, assessing clinical information, and much more. Depending on the nature of the project, the process may be very hands on and provide direct development of the pharmacy staff or in certain instances may only be a discussion with chosen members of the pharmacy’s leadership. In either instance, a pharmacy consultant applies expertise and a keen understanding of the content to optimize results for their clients.

Limit Pharmacy Distruptions Independent pharmacies have a unique harmony to their practice. Pharmacies staffed with one or two pharmacists enjoy the luxury of a small, tightly-knit crew, each member with specific duties which keep the pharmacy engine running smoothly on a daily basis. However, tasks which draw the attention of staff elsewhere can lead to disruption of normal functions and can take a toll on housekeeping items or worse, the quality of patient care. Instead of sacrificing quality in one area for another, time spent with a consultant can prevent a busy pharmacist from becoming inundated by the regular demands of the practice while achieving parallel goals.

continued on page 27

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empowering team-relationship, each reliant on the other to offer the talent and resources necessary in accomplishing mutually agreed-upon goals. A consultant who continuously works with a business has the added ability of acquiring an intimate understanding of their client’s practice. When fostered and developed appropriately, this unique relationship creates a culture of trust and effective communication often resulting in better return on investment.

Evaluating the position of a pharmacy in the marketplace, the goals one wishes to achieve, current resources and capabilities, and potential challenges will help a pharmacy determine if working with a pharmacy consultant will lead to a stronger business. continued from page 24

Positive Tax Benefit Another benefit most owners will appreciate is that the service provided by a consulting firm is a tax deductible expense. Rather than hiring new employees, and thus more employer tax, or suffering the economic cost of misappropriated resources, a consultant acts as a contractor, offering a solution with a positive impact on the bottom line. For example, if a firm is hired to bolster marketing, their service is then itemized as a marketing expense.

Drs. Chris Munoz and Kal Dorji are compounding pharmacists with a diverse experiential background practicing compounding pharmacy in the community and other settings. As co-founders of ITL Consulting, they each began their respective paths in pharmacy leadership early in their careers at the University of Southern California School of Pharmacy. They have held directorship positions for professional associations at the local and state level and graduated from the California Pharmacists Association Leadership Development Institute. ITL Consulting is a speciality consulting firm focused on providing compounding pharmacies with innovative, resultsdriven solutions to enhance business and optimize patient safety.

Perspective and Thought Leadership A major focus-point that many pharmacy owners struggle with is perspective. Often involved with every facet of their business, they may not be aware of the struggles and successes of businesses in similar and dissimilar industries. The unyielding pace of many pharmacies limits the opportunity for pharmacy owners to spend sufficient time evaluating methods for improving practices.

A consultant brings an unbiased and fresh perspective to the client when analyzing many key issues; by not preaching, but rather enlightening clients with new ideas, solutions can be discovered through a complementary lens.

Developing an Empowering Relationship Working with consultants can be much more than a one-time solution to a problem. Many businesses who work with consultants develop an PMQuarterly.com | Winter 2014

27

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S AV E T H E D A T E C E L E B R AT I N G

YEARS OF CCH

COMPOUNDERS ON CAPITOL HILL

M AY 17-2 0, 2 0 14 ~ A R L I N GT O N , VA C RYSTA L G AT E WAY M A R R I O T T

©2013 International Academy of Compounding Pharmacists (IACP). All rights reserved.

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.com

T HE L EADING W ORD www.PharmacyPodcast.com

IN

P HARMACY

publisher@PharmacyPodcast.com

Market with these Upcoming Observances Learn More at PMQuarterly.com/marketing-observances

January

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A N N U A L R X M I X E R P R E S E N T S:

BENEFITING THE IACP FOUNDATION S U N DAY, M AY 1 8 , 2 0 1 4 ~ 6 : 3 0 P M – M I D N I G H T Crystal Gateway Marriott, Grand Ballroom, Arlington, Va. ©2013 International Academy of Compounding Pharmacists Foundation. All rights reserved.

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Epicor.com/pharmacyretail The contents of this document are for informational purposes only, are believed accurate as of the date of its original publication (February 2013), and are subject to change without notice. Epicor Software Corporation makes no guarantee, representations or warranties with regard to the enclosed information and specifically disclaims, to the full extent of the law, any applicable implied warranties, such as fitness for a particular purpose, merchantability, satisfactory quality or reasonable skill and care. The usage of any Epicor software shall be pursuant to the applicable end user license agreement and the performance of any consulting services by Epicor personnel shall be pursuant to applicable standard services terms and conditions. Usage of the solution(s) described in this document with other Epicor software or third party products may require the purchase of licenses for such other products. Epicor, the Epicor logo, Eagle, and Business Inspired are trademarks or registered trademarks of Epicor Software Corporation. All other trademarks mentioned are the property of their respective owners. Copyright © 2013 Epicor Software Corporation.

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