Pharmacy Edge by APPA

Pharmacy Edge Magazin

Issue

PBMs and Drug Pricing

Finding

the Right Fit Psychological Factors of Behavior

EIGHT

October/2016

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Table of Contents Issue 08 / October, 2016

Presidents Message

The Fog

An interview with Crazy Rxman

The Face of the Independent Pharmacy Owner

PBMs and Drug Pricing FisherBroyles â&#x20AC;&#x201C; your choice for HEALTH & PHARMACY LAW

Four simple steps to revitalize your recruitment and retention strategy

Finding the Right Fit

How to Guide for Sales Success in Specialty Pharmacy

Affordable Document Management Solution for the Independent Pharmacy

Psychological Factors of Behavior

pharmacy edge

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President’s message Joshua Pirestani Dear Friends, Becoming an independent pharmacy owner is probably the “American Dream” for anyone associated in the industry. Healthcare, after all, is a lucrative sector, and being a source of medication, medical tools and niche services is profitable business. APPA strives to provide its members with the latest developments and news in the pharmaceutical industry. Therefore, in our issue this month, discussions from key issues in the industry have been addressed and solutions provided by experts in specific fields. Topics discussed include: the pricing mechanisms of PBMs, pharmaceutical returns, patient savings, document management solutions, guide to sales success in specialty pharmacy, best practices to ensure an organization is

6 pharmacy edge

finding and keeping top talent among many other key topics. Following that APPA is an association made up of pharmacy professionals within the pharmaceutical purchasing industry, we are committed towards the advancement and empowerment of pharmaceutical professionals by acknowledging their efforts and empowering them through (education, networking and advocacy), which would assist in their professional growth and goals. Don’t be left out in our discussions. Subscribe to our Pharmacy Edge Magazine at: http://joinappa.com/pharmacy-edgemagazine/ For more information, contact info@ joinappa.com if you have any questions! Joshua Pirestani President.

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An interview with

Crazy RxMan Who is CrazyRx man? I work as a retail pharmacist for a pharmacy inside a national grocery chain. I try to provide top notch pharmacy knowledge and service to my patients while ensuring their safety. I also try to earn a profit for the company. There’s only three things standing in my way: My pa-

8 pharmacy edge

tients, the doctors that write their prescriptions, and the company where I work.  Tell me a little bit about yourself. How did you get started in pharmacy? Do you work in retail, specialty, compounding, etc.  I work as a staff pharmacist in a gro-

cery store chain pharmacy. I had interest in pharmacy many years ago, but instead chose a career in the family business. Initially I took over the family business (Arts and Crafts), but then the business started to decline due to the economy. Initially I decided the best course of action was to obtain an MBA, which I did,

Part of the appeal of Crazy RxMan is that we ALL deal with the same issues everywhere, every day. I write about them in a way in which pharmacists and technicians can relate and not feel alone.

but because I was “self-employed” it was difficult to translate that into the corporate world. From there I decided to go back to school once again and get a PharmD… in a career I thought would be recession-proof. Tell me about how the CrazyRx man got started?  Having a personal background in business management and an understanding of the decision-making processes involved in corporate management, I have been and continue to be appalled by the lack of logic and common sense in my large company. It truly is frustrating to see so many de-

cisions come down from upper management which clearly indicate they have NO IDEA what’s really going on in the trenches, nor seem to really care about patient safety. I also knew I wanted to start a blog for a long time with what I thought were funny and unique stories from the pharmacy. Little did I know that my stories are mirrored all across pharmacies everywhere! Part of the appeal of Crazy RxMan is that we ALL deal with the same issues everywhere, every day. I write about them in a way in which pharmacists and technicians can relate and not feel alone.

How long has the CrazyRx man been around for?  I started the blog back in the fall of 2011. Why did you pick that name?   Adam Sandler (from Saturday Night Live) used to do a segment every Halloween on the Weekend Update about how to create cheap and easy Halloween Costumes. With every idea, he entitled it “Crazy _____.” For some reason that seemed to stick out in my head. I didn’t know what to call myself, so the quick and easy Sandler fix was “Crazy,” and since it’s pharmacy… Crazy RxMan.

pharmacy edge

I don’t know if that level of appreciation is experienced in other pharmacy career options. What are your top 3 patient pet peeves?  1. When a patient comes to the window and announces that they “just” left the doctor’s office and want to know if their prescription is ready. 2. When a patient is told that their prescription can’t be filled until a future date… and then they show up right at opening on that future date. 3. Prescribers that leave a voicemail so quickly that I have to rewind it ten times to get all the details written down. You are a man of mystery, a marketing genius, a pharmacist, (father?), family man. How do you find time to do it all?  I type fast. How do you come up with your Hilarious material? Patients, co-workers?   Most everything that I write about is a true story. I never use real names or will change unimportant details to protect my privacy as well as the patient’s privacy. Some blog posts are based on submissions by other pharmacists and technicians. And every time I think I’m about to run out of material… WHAM! Something crazy happens at the pharmacy to keep me going. We have seen the CrazyRx man on AmerisourceBergen and McKesson social media accounts. What other recognition or accomplishments has the CrazyRx man received from the industry?  I am listed on other blogs such as Dr. Grumpy in the House. For a while the past social media director for Pharmacy Today enjoyed my sense

10 pharmacy edge

of humor. If she posted something on Facebook or Twitter about one of my blog posts… I’d get thousands of hits right away. I tend to ride the EDGE of what’s considered “appropriate” by this industry… I really do speak for a lot of pharmacists that can’t say what they really want to say for fear of company reprisal. That’s why I’m anonymous as well. And because I’m anonymous, I’ve seen other bloggers get more attention because they stay more mainstream with their topics. That’s ok. I like The Pharmacy Edge. Anything planned for the future that you would like to share with our readers? (LazyRx Man) etc.  I am currently writing a book which will be based on the best of the pharmacy stories you wouldn’t hardly believe are true… but are. I’m getting better at writing and would like to write columns about legitimate topics for pharmacy as well. I have written some very funny stuff and sometimes I’d like to pretend I’m a comedian, but I also have written about some serious topics. One blog post in particular comes to mind about what a pharmacist can do when a close patient has had a miscarriage… this actually happened to me and I hope that my blog post on the topic can help prepare other pharmacists if it happens to them. As for that guy Lazy RxMan: Sometimes there’s things that are much too fictional to post, or way over the top in good taste. No pharmacist really has a secret hammock in the pharmacy or a BBQ grill, but it’s

fun to pretend. Lazy RxMan handles those topics for me. What is one piece of advice you would give our pharmacy student readers wanting to start out in retail?  Retail pharmacy is very mentally and physically challenging but also very rewarding. You deal with sick people and that affects their attitude. They just want to get their meds and go home. But it’s rewarding because you get to see how your work benefits the public… most of which become your friends if you stay in the same location. In most hospitals you don’t have to deal with the “customer” and all the nastiness involved, but you also don’t see the impact of your work. You can switch your career along the way, but it’s best to decide which avenue you desire ahead of time. Recently I took a week off of work. A few days after my return a patient’s adult son came in to pick up the medication for his sick mother. “Thank God you’re back!” is what he said to me. I can tell you that it made me feel good to know I mattered that much to someone. I don’t know if that level of appreciation is experienced in other pharmacy career options. What’s the best way to reach you? CrazyRxMan@gmail.com is my email address. I’m on Facebook: https://www.facebook.com/CrazyRxman, Twitter: https://twitter.com/ CrazyRxMan, and Tumblr as well. And of course... the blog is at www. CrazyRxMan.blogspot.com Anything else you want to add? Just my thanks. Thank you.

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PBMs and Drug Pricing PBMs and

Congress and Major U.S. Employers Start to Unravel the Hidden Pricing Mechanisms of PBMs Pharmaceutical benefit managers, or PBMs, have been around since the 1960’s. As initially conceived, they provided a service needed by many insurance companies that had started to become overwhelmed with the processing of claims as increasing numbers of Americans began taking prescription drugs. The PBMs processed the claims for insurers, negotiated drug prices for consumers and thereby solidified their place as the middleman in the prescription drug transaction.

12 pharmacy edge

Fast forward several decades, however, and PBMs have morphed into far more than a middleman in the drug company-to-consumer pharmaceutical pipeline. PBMs now touch nearly every aspect of prescription drug purchasing in the U.S. and have, therefore, become the biggest beneficiary of soaring drug prices - with the profits of the largest PBMs doubling in recent years. While the record profits are known, the mechanisms by which PBMs are earning those profits are starting to

draw the attention of Congress and some of the largest U.S. employers due to their role as the chief providers of health insurance products to their employees. Congress has, and continues to hold hearings on the subject of soaring drug costs while companies like Macy’s and Coca-Cola have joined together in an alliance with the stated aim of breaking “existing marketplace practices that are costly, wasteful, and inefficient….” PBMs are being specifically targeted by these

companies, who plan to use their combined leverage to rewrite PBM contracts to eliminate undisclosed drug-price markups and rebates. A detailed exposé of the opaque pricing practices of PBMs, and the ways in which those practices are contributing to the distortion of drug prices in the U.S., are set out in a recent Business Insider article, “These companies you’ve never heard of are about to incite another massive drug price outrage.” The author cites several major factors in her analysis: PBMs are controlling information about pricing all along the drug pipeline. As discussed in more detail in the Business Insider article, PBMs are keeping everyone in the dark about drug pricing by the opacity of their “spread” – the difference between what the insurer is paying for the drug via its agreement with the PBM and the amount that the dispensing pharmacy receives. That difference is the PBM’s profit (on top of the fees they earn to administer the drug prescription programs for insurers). In virtually all cases, the pharmacy has no idea what the insurer is paying for the drug and the insurer doesn’t know how much the pharmacy receives for dispensing it – all of that information is known only to the PBM. In addition to the mysteries of the spread, the “list price” of any given

Brian E. Dickerson, Esq. brian.dickerson@fisherbroyles.com fisherbroyles.com

drug is rarely the price received by a drug maker. Drug price increases are often rebated to PBMs in a deal that keeps those drugs on the PBM formularies and insurers in the dark as to exactly what the PBM is getting back over-and-above what the insurer is paying the PBM for the drug. PBM control of formularies and MAC lists may be distorting the market. PBMs develop formularies (lists of drugs for which patients will be reimbursed under a given plan) and maximum allowable cost (MAC) lists (which tell pharmacies and drug companies what the PBM will pay for a medication). The control of what drugs appear on which formularies gives PBMs a great deal of leverage over drug manufacturers, and they often negotiate lower drug costs and rebates to keep a given drug on their formularies. PBM control of MAC lists, which often show different prices for the same drug, based on whether it is on the insurance company’s list or the pharmacy’s list, provides PBMs with a ready-made mechanism to increase profits as drug costs rise. Many PBMs fail to update MAC lists with any frequency, meaning that even if a drug increase is hitting a pharmacy hard, the PBM is still paying a lower cost under the MAC. The Centers for Medicare and Medicaid Services, in addition to 26 states, have ordered that PBMs update their MAC lists with greater

Anthony j. Calamunci anthony.calamunci@fisherbroyles.com fisherbroyles.com

frequency in an attempt to address the issue. PBMs have gotten into the pharmacy business. An increasing number of PBMs are now operating their own specialty pharmacies, focusing particularly on the mail-order delivery of drugs that are generally more difficult to distribute. This means that not only are PBMs controlling the formularies, they are also negotiating the prices of drugs that they themselves are distributing – essentially buying drugs from themselves. PBMs are managing patient assistance programs. PBMs have another hand in the trough via their management of patient-assistance programs (PAPs) set up by drug companies. PBMs administer the programs and pick up a fee from the drug company for their services. The drugs on the PAP lists are often provided through the PBM-owned pharmacies. In addition to congressional hearings and concerted action by major U.S. companies, a number of cases are working their way through the courts that may spell trouble for PBMs and their record profits. The FisherBroyles Pharmacy Law team will continue to track issues of importance to pharmacies, including matters related to PBM litigation. We welcome your questions, so please do not hesitate to contact any one of the following attorneys:

Nicole H. Waid nicole.waid@fisherbroyles.com 202-906-9572

Amy L. Butler amy.butler@fisherbroyles.com

pharmacy edge

Finding

the Right Fit Tips for assessing your DSCSA needs and finding the right partners in technology With the Drug Supply Chain Security Act (DSCSA) fully deployed and being enforced, all pharmacies should have a Track & Trace system in place. The complexities of DSCSA compliance dictate specific elements, but beyond those requirements, it is important to find a Track & Trace solution that best fits your organization’s needs, is cost-effective and helps your organization run a top efficiently.

Here are 5 important factors to consider when choosing your DSCSA solution

Flexibility Your business is unique in many ways, and a compliance solution that fits your business saves time and money. The right Track & Trace system must be built on a dynamic workflow platform, making it flexible enough to respond to best practice applications. It also automates the process of recording all events, such as accepting transactions, conducting investigation on suspect products and maintaining documentation that Standard Operating Procedures (SOPs) were followed. This covers the standard workflow

14 pharmacy edge

for Track & Trace management, but a system that also has the ability to adjust these processes to suit your preference will save you time and money. Some software systems are built on a generic best-practices approach that can only be changed with additional time and cost. This means that the business process you’ve spent years perfecting have to be discarded and you have to implement a new process—and train your employees on that process. And while the cost of making these changes to adapt to your system can eventually outweigh the initial cost of the system, the cost of not implementing SOPs to comply with

Track & Trace laws can put you out of business. Scalability When looking into Track & Trace systems for your organization, consider the scalability of the system to support future growth—and to ultimately ensure that you never outgrow the system. To determine whether a software system is truly scalable, consider the following: »» Long term goals—can the software system grow to accommodate additional business users and locations?

YOUR TEAM IN DSCSA COMPLIANCE The InfiniTrak team understands the significance of selecting the right product to implement a solution that satisfies your Track & Trace needs. Because we took a fundamentally different approach to our product development, we are uniquely positioned to serve the independent market, addressing unique pain-points with compliance. InfiniTrak was created to not only enable compliance but add value beyond compliance. Our solution is designed to streamline processes, increasing efficiency and accountability, and ensure that you can focus on what you do best – serving customers and the community.

InfiniTrak provides technology that allows you to do what you need to do in the most efficient and affordable way possible: »» Location-based administration—can the system be configured to filter location-specific data to enable individual sites to maintain their specific processes? In addition to being easily scalable, a successful solution allows for the seamless addition of enhancements to the software—allowing software features and functionality to be expanded as much as necessary to encompass the needs of additional employees and locations.

Visibility There is often so much data coming into the Track & Trace system that proper visibility into this data becomes difficult. However, visibility is an integral part of fostering change within your organization. The right Track & Trace system sets out to ensure this, simplifying the process of reporting by automating it for you. Using reporting tools, you can export data on-demand, run reports with drill-down capabilities, report on user based actions

• Connect to your trading partners • Centralize control and accessibility to your data, confident that they are compliant with all regulations • Have access to report and export what they need, when they need it • Maximize efficiencies and find potential cost savings

What to do next? Get a complimentary solution assessment! Contact Sally@InfiniTrak.us to schedule a 15 minute discovery review to see how we can support your DSCSA compliance needs.

www.infinitrak.us pharmacy edge

or events and create a report on your complete transaction history in minutes. These capabilities increase visibility throughout all areas of your business, including multiple locations if you have multiple stores associated to an account, ensuring that you see have insight into anything that needs improvement. Cloud Deployment The most cost-effective way to deliver compliance is with a system referred to as SaaS -Software as a Service. The software application as well as all data is stored on the cloud, a Web-based location for all processes and documents, easy to access and requiring no on-site equipment to purchase or maintain. A dedicated cloud-based solution provides you with your own section of the cloud—no need to share with other “tenants.” The dedicated

The right Track & Trace software simplifies your organization’s day-today processes, saving time and resources, embedding standard operating procedures and processes such as corrective action, issue resolution, compliance and more.

16 pharmacy edge

solution also allows you to scale your solution as needed - the bandwidth is unlimited. Cloud-based systems provide a secure environment for your data, as no one has access to your data except you and your chosen personnel. Further, you can access your system through managed firewalls to mitigate security concerns. Redundancies and daily backups keep your data protected. SaaS is ultimately a low maintenance approach to deploying a Track & Trace system—the cloud saves you the cost of traditional deployment methods, without sacrificing the system’s value or security. Built-in Processes Ideally, a Track & Trace software solution provides integrated, builtin processes that streamline existing

business processes and eliminate manual processes. »» Compliance SOPs: The DSCSA requires pharmacies to have Standard Operating Procedures (SOP) for handling transactions that do not conform to the order: there must be a process in place to determine if the product is suspect. Having a compliance module built into your software system streamlines handling these types of transactions, ensuring consistency and accuracy, and providing visibility that could uncover any systemic issues throughout your enterprise, regardless of location. »» Corrective Action: The ability to resolve suspect products issues helps identify, mitigate and reduce the chance of harmful products being dispensed to custom-

LISTEN UP! A DSCSA COMPLIANCE

SOLUTION TAILORED FOR YOU…

We’ve been talking about it for months, and with enforcement of the new U.S. Drug Supply Chain Security Act (DSCSA) finally active, APPA is helping you have access to the tools to be fully compliant. InfiniTrak is our preferred solution of choice as a highquality, cost-effective and timesaving track and trace software designed for independent pharmacists, retail chains, and small hospitals, like you. Get on top of your DSCSA compliance needs.

Trying to understand what the new FDA regulations and Drug Supply Chain Security Act (DSCSA) will mean to you? CLICK HERE to sign up for our DSCSA Pocket Guide to the new law – from the basic requirements to the specifics of compliance. We’ve boiled it down to the basics you really need to know now!

Questions? Contact customercare@infinitrak.us

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ers and reduce the recurrence of these events. A successful Track & Trace system enables this and in doing so, provides your organization with visibility into critical events, allowing you to correct any event as needed. »» Risk Management: In FDA regulated organizations, efficiently managing risk ranks high in priority. Having a system in place to reinforce best practices and reduce the risk of dispensing

harmful products decreases an organization’s exposure to violations, lawsuits, loss of licensure and loss of business. By using a Track & Trace system, risk is managed. Events are recorded at all points in the transaction history, corrective actions/resolutions to track suspect products are documented, along with events that took place to ensure that the corrective actions are made and issues are resolved.

The right Track & Trace software simplifies your organization’s day-to-day processes, saving time and resources, embedding standard operating procedures and processes such as corrective action, issue resolution, compliance and more. Automation provides a standardized, consistent method of conducting these processes, and the system’s ability to scale accommodates the addition of new locations as well as changes to the law and new regulations.

pharmacy edge

How to Guide for Sales Success in Specialty Pharmacy Does your sales team have what it takes to be successful in specialty pharmacy? What are some of the things you can do to ensure sales team success?

We’ve written a free eBook to help answer some of these questions. In the resource, we’ll discuss how to develop the tools and resources necessary to support your sales team; how you can grow your dream team to capitalize on your pharmacy success; and, most importantly, how this can encourage the patient’s purchase journey, by having the right people in the right place at the right time. Strategies for Sales Success The cornerstone to creating a successful specialty pharmacy is to de-

18 pharmacy edge

velop the right sales strategy. Does your healthcare system have the right tools and programs in place to ensure success? How about the right support from management and the C-suite? Put Your Sales Team in a Position to WIN Having a team of sales representatives who know how to develop strong, cohesive relationships and generate business for an organization is vital to success. If your team doesn’t have the tools they need to be successful, they’ll struggle with

their entry into the marketplace. There are many factors a healthcare organization should consider before developing its sales team: »» »» »» »» »» »»

Territory size Number of sales reps in the field Disease states Target specialists Call frequency Quality of the message

It’s important for your sales team to have a particular focus and concentrate on prospecting,

Training can play a critical role in further developing and capitalizing on the strengths of your team members.

finding the right decision makers, and developing the most effective communications to ultimately drive success. These pointers are just the tip of the iceberg. It’s what’s below the surface of the sea that really drives organizational success; and, yes, it’s difficult to build the right plan without intellectual property and a clear understanding of the market. Here’s how to get started. How to Choose the Right Sales Talent One of the most important aspects of building a sales team is to choose the right people from the get-go. You’ll want to create and lay a strong foundation to really hit the ground running. When identifying and evaluating talent, there’s one thing that you should look for when hiring a sales representative: passion.

Your sales team needs to be passionate about what they’re selling and why they’re selling it. Their sole focus shouldn’t only be concerned with making money or on the bottom line; rather, their ultimate goal should be on improving patients’ and caregivers’ lives. How do you identify passion in potential sales team members? Well, that depends. Whether you’re a hospital pharmacy, a retail pharmacy, an infusion pharmacy, or are just looking to expand your sales team, you may have to use different approaches to building your team. For example, a small pharmacy seeking to launch their specialty pharmacy will need someone with skills and capabilities, someone with proven experience in this segment and a

thorough understanding of the marketplace. Keep in mind that you’re about to start your business in the specialty pharmacy industry and you won’t have the luxury of a plug-and-play model. For this reason, a strong team will help you build the foundation of your business. Once your specialty pharmacy has launched and is well into competing in your sector or region, you’ll need to promote it. A skilled and dedicated sales team will play an integral role in this process. It’s important to train your team properly, so that they can keep up with larger companies that have been around in the marketplace much longer. Training can play a critical role in further developing and capitalizing on the strengths of your team members.

For the free eBook download visit CSIgroup.net/SalesBook pharmacy edge

With the influx of new and current customers, lets dig a bit more into some of the psychological factors that play a part in consumer behavior - to help you understand what goes on in your customersâ&#x20AC;&#x2122; minds.

Psychological Factors of Behavior Motivational factorsÂ stem from needs such as physiological, safety, social, esteem, and selfactualization. Psychologist Abraham Maslow sought to explain why people are driven by particular needs at particular times. Why does one person spend a lot of time and energy on personal safety and another on gaining the esteem of others? His answer, is that human needs are arranged in a hierarchy (below) from the most pressing at the bottom to least pressing at the top. When thinking about what motivates your pharmacy patients, we are primarily going to be

20 pharmacy edge

thinking about their needs for safety and security. The patients who come back time after time are those who feel that you meet their needs for safety when it comes to their medications, or perhaps those who feel a sense of friendship and belonging in your pharmacy. If at any point those needs are no longer being met, that is when you lose people. By understanding the basic needs behind your patientsâ&#x20AC;&#x2122; behavior, we can train ourselves to always consider their motivations when talking with them about your products or services.

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www.unitedrxsolutions.com Contact Number: 844-741-9718 78 Crossways Drive East, Bohemia, NY 11716

The Fog

Owning and managing an independent retail pharmacy these days is a difficult job. More and more government regulations and audits are just a few of the time-consuming things pharmacy owners have to deal with, not to mention running a business and keeping your customers happy. At United Rx Solutions, we understand that expired medications are not at the top of your priority list of things to think about. All reverse distributors (return companies) know that pharmaceutical returns can be very tedious and confusing for you. Unfortunately, some return companies will take advantage of that “fog” by creating confusing product manifests, and not being honest about hidden fees. They know that you’re probably too busy to notice these hidden fees, or to notice that you’re not getting all of your money back. We’ve been in this industry a long time, and we’ve heard way too many potential customers tell us they don’t

24 pharmacy edge

know how much their current return company charges them. They are also unaware that they are being charged for hidden fees, such as destruction and shipping charges. Some pharmacists we’ve met with don’t even know who their return company is! We have seen enough of it, and we’ve done something about it. We’ve created the most transparent reporting and manifests in the industry. Our customers get individual credit memos with manufacturers’ names from their wholesalers, making it simple to understand what you’re getting credit for. No more wondering, “what is this check for?” or “did I get credit for that expensive product?”. To make things even clearer, we invoice our customers so that you know how much our fee is, and what you’re being charged for. You’ll see very clearly that we don’t charge you any hidden, extra fees. At United Rx Solutions, we know that many independent pharmacies are

Caution

FOG

fighting an uphill battle against large chain stores, Medicare, Medicaid, etc. Making the battle even tougher, some return companies have used “the fog” to take advantage of their customers by overcharging them for their services. Make October the month that you finally take control of your expired returns money. We urge you to take a closer look at the fee summary or invoice that your return company sends to you. We’ve met pharmacists who say their return company doesn’t send them one! If your return company isn’t sending you a detailed summary of the fees they’re charging you, you might be a victim of “the fog”. Free yourself from “the fog” of pharmaceutical returns, and take back control over your money. Give United Rx Solutions a call at 1-844741-9718 and see for yourself how transparent returns can be. We think you’ll be pleasantly surprised.

The Face of the Independent

Pharmacy Owner By Joshua Pirestani

Becoming an independent pharmacy owner is probably the â&#x20AC;&#x153;American Dreamâ&#x20AC;? for anyone associated in the industry. Healthcare, after all, is a lucrative sector, and being a source of medication, medical tools and niche services is profitable business. An independent pharmacy is not affiliated with any chain of pharmacies, which means profit can go to a sole proprietor or a limited company. It is not operated or owned by a publicly traded company either. It can be a pharmacist-owned multiple store locations, single-store operations, franchise, compounding, supermarket pharmacy operation, specialty, and long-term care operation. When it comes to the business outlook, independent pharmacies are seeing growth in sales that translate to a better community and economy. They employ hundreds of staff, and give back to the communities they belong in. Not to mention, the high standards of customer service they provide to patients and clients.

An independent pharmacy also offers several career benefits, especially if you decide to provide a comprehensive range of patient-care services, such as Delivery, Medication therapy management, Asthma management, nutrition counseling and diabetes-management programs, and Home infusion therapies. With an independent pharmacy, you can realize your dream of being a businessperson and medical practitioner at the same time. The face of an independent pharmacy owner Unlike some businesses constantly teetering on uncertain grounds, independent pharmacies are on solid, steady ground, as shown by its continuous growth. Anyone who ventures into this business is highly likely to succeed. According to the 2015 NCPA (National Community Pharmacists Association) Digest, independent pharmacy is an $81.4 billion industry, with prescription sales amounting to

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According to NCPA, 56% of independent pharmacy owners are members of the Chamber of Commerce, 52% have a direct personal relationship with a state representative or a key staff member, 32% have direct personal relationship with a U.S. senator and/or a congressman, and 23% are members of the local Business

just a little over $75 billion, and an annual independents dispense of 1.4 billion prescriptions. The numbers showed a significant growth in comparison to the data gathered in 2013 by the same digest.

But one of the biggest reasons that consumers prefer independent pharmacies is that they feel and are treated like family. More than just a number, they are a name that is provided with excellent customer service.

Even with the introduction of Medicare Part D, the industry still shows promise for independent pharmacy owners, and those who wish to pursue the same business endeavor in the future.

Economic impact and community involvement Independent pharmacies employ over 300,000 people whether on full or part-time basis, with an average of 1.5 fulltime employed pharmacists, including the owner, and 3.5 full-time employed technicians. One more independent pharmacy owner added to the list will create jobs and help support a vibrant economic ecosystem and improve global competitiveness. It doesn’t hurt to create an $81.4 billion marketplace, either.

Its success, however, can’t be credited entirely with patient needs, although it is a major factor. A lot of consumers prefer to shop at independent pharmacies, based on the JD Power 2015 U.S. Pharmacy Study. Satisfaction ratings calculated on a 1000-point scale are as follows: »» »» »» »»

Supermarket pharmacies = 851 Chain drugstore pharmacies = 842 Mail order pharmacies = 820 Mass merchandiser pharmacies = 822

The major factors that influenced customer and patient satisfaction are the niche services and small efforts on the part of the pharmacists and pharmacy staff, which are sorely lacking in big box stores. These include health testing and wellness services, consultation, medication therapy management services, patient charge accounts, nutrition, and screenings. The knowledge that conversations with a pharmacist are handled with discretion also drives loyalty. This further increased when a private area for discussion is provided within the pharmacy. The same niche services also drive sales, with 63% of respondents saying they will definitely purchase something, and recommend the pharmacy after using the wellness services.

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Community involvement is as much a part of independent pharmacies as medication is to healthcare. It is by connecting with the local community that an independent pharmacy owner can compete with big box stores, a trend that will not go away anytime soon. After all, it helps owners create a network that extends to people in office. According to NCPA, 56% of independent pharmacy owners are members of the Chamber of Commerce, 52% have a direct personal relationship with a state representative or a key staff member, 32% have direct personal relationship with a U.S. senator and/or a congressman, and 23% are members of the local Business Association. Some 6% are even elected in office. Some employers of independent pharmacies also enjoy the same connections. One thing that allows independent pharmacies to really make a difference in their community is providing monetary support to community organizations. 37% of owners support 10 or more community organizations, while 26% supports between 5 and 9.

Four simple steps to revitalize your recruitment and retention strategy Employee turnover costs pharmacies millions of dollars annually. Leverage these best practices to ensure your organization is finding and keeping top talent By Crystal Williams, PHR Talent Acquisition Specialist, CompleteRx

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A recent McKinsey & Company study predicts a shortage of 18 million highly skilled, college-educated workers by 2020. How can your healthcare organization compete in the face of increased competition for a shrinking pool of qualified candidates? The answer to keeping your well-trained, experienced healthcare professionals, as well as recruiting new ones, is: Build an effective recruiting and retention strategy using the acronym SOAR (Stay in Touch, Onboard, Acclimate, Reaffirm & Retain). Stay in Touch Many hiring managers believe their job ends on the employee’s first day, but nothing could be further from the truth. To ensure a new employee feels integrated into and engaged with your operations, proactively implement a 30-, 60- and 90-day plan including pre-scheduled check-ins. These regular interactions provide the new employee with time to raise questions and make suggestions to improve efficiencies. These meetings also give the manager an opportunity to ensure performance standards are being met and the employee feels like a valued member of the team. Hiring managers should also look to their existing team to make sure new employees are a good cul-

Set-up an employee volunteer program so you can bond outside the office while giving back to the community.

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ture fit. Many managers focus on skills and years of experience when looking to fill an open position without thinking about what type of personality will best suit their team. To do that, first look to your reliable performers. Consider their emotional intelligence in addition to their education and work experience. By hiring new workers with similar skills, you can continually nurture the culture you want to encourage. Onboarding the New Hire In addition to your pharmacy’s orientation, you can help new employees adjust quickly with a thorough departmental on-boarding process. This allows you or your managers to talk about the norms of your unit. Take telephone and email etiquette, for example. You may have an unwritten policy that technicians are responsible for answering the phones. Maybe you expect all calls to be answered by the third ring. Maybe you expect all email requests to be answered in four hours. You’ll want to make sure you articulate these unwritten rules early on or, even better, document and use them to guide the hiring process. By sharing expectations during the interview process, you and the potential hire can both make better decisions about whether this job is a good match.

Acclimate for Long-Term Success During your acclimation period, it can also be helpful to link the new person with an official mentor or work buddy. A younger professional may also appreciate being assigned a sponsor to help guide them through their early career. If you aren’t yet convinced that acclimation can help with recruitment and retention, consider that Glassdoor.com found 66% of healthcare professionals were likely to accept less money to work at a company with a great culture. Reaffirm and Retain Just because the R in SOAR comes last, it doesn’t mean retention should be your last consideration. Rather, it must come first among a manager’s priorities, since a successful retention strategy will reduce the time, costs and disruptions related to hiring someone new. Assuming your organization’s pay and benefits align with the market, what can you do to build a positive workplace culture that encourages engagement and thus retention? First and foremost, stay in touch with and recognize your employees at all levels, especially your top performers and company advocates, and always communicate any policy changes as quickly and completely as you can. Make it an everyday habit to praise the great work already being done and coach for better performance when needed. Make sure your team has the tools they need to do their jobs well. Checking-in throughout the year lets employees know that you value them and appreciate their professional goals.

ing employee engagement is much like the work of a successful marriage – it’s constant and continually evolving. Research Your Digital Reputation While SOAR can help you build a positive workplace culture, you also need to stay abreast of your organization’s online reputation. Some quick online research can help you find out exactly how employees feel about your hospital and even your department. Websites such as GlassDoor and CareerBliss make it possible for employees to rate companies anonymously. Take a quick glance over your hospital’s listing and you’ll find more candid assessments than any internal survey will ever provide. Current and former employees rate benefits, pay, working conditions, opportunities for promotion and CEO effectiveness. For another eye-opener, go to Facebook, Twitter or other social media sites and search your organization’s name. In addition to the organization’s official page, you’re likely to find comments related to customer and employee satisfaction. In the end, it’s your responsibility as an organization to nurture the culture you want through strategic hiring and retention. By building and following a simple checklist of engagement tactics, and managing your online brand presence, you can build a culture of happy, engaged employees who meet – or even exceed – your expectations.

Cross-training is another tool to improve retention rates. The more valued and engaged an employee feels, the less likely he or she is to leave for another opportunity. In fact, a study from Pew Research revealed that employees, especially Millennials, feel continual learning is necessary to stay current, avoid complacency and strengthen their ability to adapt to new situations. Other suggestions for employee engagement: Bring in breakfast and stay to chat about how things are going. Take individuals or small groups to lunch once a quarter to gather feedback. Set-up an employee volunteer program so you can bond outside the office while giving back to the community. No matter which method you choose, listen carefully for challenges you may be able to address. Nothing builds trust and loyalty like an engaged leader. The task of build-

Crystal Williams, PHR, is the Talent Acquisition Specialist for CompleteRx, a leading pharmacy management company. With over 11 years of recruiting and retention experience, Crystal trains pharmacy leaders on these tasks and helps develop the talent acquisition strategy for CompleteRx

pharmacy edge

Affordable Document Management Solution for the Independent Pharmacy Do you ever have trouble locating the necessary information required from insurance audits, facilities, nurses or doctors? Has a patient ever called your pharmacy saying they never received their prescription that was to be delivered? How much time, money and space are you wasting on storing, sorting and locating necessary information? Stop wasting time sorting through boxes and filing cabinets, arguing with customers about their “lost” prescriptions or paying a third party document management company and start saving time and money with SuiteRx Intelligent Pharmacy Software’s built in document management platform. Whether prescriptions are received via IVR, the Web Portal, Patient Refill Application, Email, or E-prescribing, SuiteRx document management will digitally capture and funnel prescription images for easy filing. Each step of the workflow is recorded and timestamped from prescription fill to prescription delivery including electronic signature capture, leaving a complete audit trail for each prescription.

Document Management has become the cornerstone of an efficiently run pharmacy. With our system, you will have instant access to all documents including prescriptions, refill approvals, prior authorization forms and signed patient forms, just to name a few. All of these documents can be easily viewed, sent, stored and retrieved at the click of a button. If that wasn’t sweet enough, SuiteRx IPS also includes an Audit Module that allows the auditor to have access only to their particular insurance company needs, allowing pharmacy staff to continue with their normal workflow. SuiteRx Document Management Includes: »» Prescription Capture »» Timestamp of Workflow Activities »» Proof of Delivery »» Signature Capture »» Quick Search & Retrieval »» Fill Record »» Audit Module

Enjoy this all-in-one solution for half of what the competition is charging you without sacrificing functionality. Schedule a demo with SuiteRx for more information on how you can start improving your net profits!

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Phone: 916-242-8779 Website: www.suiterx.com Email: sales@suiterx.com

Empower your Pharmacy with SuiteRx Intelligent Pharmacy Software Key Features »» »» »» »» »» »» »» »» »» »»

Enhanced Communication for Improved Patient Adherence Reduced Workflow Disruption with Easy Edit Ability Med Synchronization and Adherence Reporting Easy Access and Responsive Client Support Mobile Delivery and eSignature Capture Register to win Advanced Compounding Workflow Integration with FedEx and UPS an Android tablet by Document Management scheduling a SuiteRx Cycle Fill Management demonstration Custom Reporting

today*!

307 S. Jupiter Rd., Suite 205, Allen, DC. 75002 Email: sales@suiterx.com | Website: www.suiterx.com Phone: 916-242-8779 (916-Chal5Rx) | Fax: 972-559-3156 *Quarterly drawing One entry per pharmacy.

Easy Steps for Patient Savings Through Your Pharmacy The process to become a credentialed Aﬀordable Medication Solutions RetainRx® In-Network Provider for Gensco Copay Programs is easy: Privately-Insured/Cash Patients BIN: 610322

$30

COPAY

SAVE UP TO

MEMBER ID:

•

Program Sponsors set the rules for their coupons/vouchers and RetainRx® adjudicates pharmacy transactions in accordance with those rule-sets.

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RetainRx® works in a very similar fashion to some of the other coupon/voucher programs in the industry, such as Trial Card, McKesson, PSKW, etc.

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In order to participate, individual pharmacies or the chain pharmacy reprepresentative must execute an agreement with the processor, AMS, to facilitate the payment ﬂows from the Program Sponsor to the pharmacy through AMS.

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RetainRx® cannot be used for any patient who is covered under a prescription beneﬁt that is provided by any government agency.

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RetainRx® is integrated into the pharmacy system just as any other third party payer.

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The pharmacy submits the RetainRx® transaction as a secondary transaction for any patient that has commercial insurance for the item.

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If the patient is uninsured or does not have coverage for the item, the pharmacy submits the RetainRx® transaction as a primary claim similar to a regular insurance claim.

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Since August 2014, RetainRx® has issued coupons/vouchers for millions in savings to patients.

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Pharmacies are normally paid within 60 days of the approved coupon transaction.

PATIENT’S LAST NAME AND FIRST INITIAL

PERSON CODE: 01 GROUP: GEN-SG-1 CASH

with the Affordable Medication Solutions RX Savings Card

SpeedGel Rx 10mL $46.00 SpeedGel Rx 30mL $87.50

GROUP: GEN-SG-2 INS

SpeedGel Rx 10mL $10.00 SpeedGel Rx 30mL $30.00 * This coupon is not valid for prescriptions reimbursed under Medicare, Medicaid, or any other federal or state program, or where prohibited by law. Where third party reimbursement covers a portion of your prescriptions, this coupon is valid only for a portion of the amount of your actual out-of-pocket expenses. Offer valid only for prescriptions filled in the United States. Affordable Medication Solutions reserves the right to discontinue this offer at any time. This coupon cannot be combined with any other rebate or coupon, free trial, or similar offer for the specified prescription. The discount will be accepted only at participating pharmacies. If you do not wish to further participate in this cost-saving program, call 1-844-285-1848 to opt out of the program. This is not a form of insurance. * Present this card to receive savings up to $30 (maximum benefit). Some restrictions apply.

SpeedGelRx.com

Privately-Insured/Cash Patients

$30

COPAY

SAVE UP TO

BIN: 610322

with the Affordable Medication Solutions RX Savings Card ON

MEMBER ID:

PATIENT’S LAST NAME AND FIRST INITIAL

PERSON CODE: 01 GROUP: GEN-LD-1 CASH LiDORx 10mL $37.00 LiDORx 30mL $72.50

GROUP: GEN-LD-2 INS LiDORx 10mL $10.00 LiDORx 30mL $30.00

* This coupon is not valid for prescriptions reimbursed under Medicare, Medicaid, or any other federal or state program, or where prohibited by law. Where third party reimbursement covers a portion of your prescriptions, this coupon is valid only for a portion of the amount of your actual out-of-pocket expenses. Offer valid only for prescriptions filled in the United States. Affordable Medication Solutions reserves the right to discontinue this offer at any time. This coupon cannot be combined with any other rebate or coupon, free trial, or similar offer for the specified prescription. The discount will be accepted only at participating pharmacies. If you do not wish to further participate in this cost-saving program, call 1-844-285-1848 to opt out of the program. This is not a form of insurance. * Present this card to receive savings up to $30 (maximum benefit). Some restrictions apply.

LiDORx.com

Indication: Pain Available by Prescription Only LiDORx® 10 mL NDC 35781-0300-1 LiDORx® 30 mL NDC 35781-0300-3 LiDORx® 90 mL NDC 35781-0300-9

Privately-Insured Patients

SAVE UP TO

$30

COPAY with the Affordable Medication Solutions RX Savings Card

BIN: 610322 MEMBER ID:

PATIENT’S LAST NAME AND FIRST INITIAL

PERSON CODE: 01 GROUP: GEN-AS-1 INS Astero 30mL $30.00

AsteroGel.com

Indication: Painful Wounds Such as Post-Surgical Incisions, Cuts and Abrasions Available by Prescription Only Astero® 30 mL NDC 35781-2500-3

Aﬀordable Medication Solutions’ RetainRx® program is a prescription voucher program. To enroll your pharmacy or obtain more information, please contact:

Privately-Insured/Cash Patients Privately-Insured/Cash Patients

SAVE

$50

OR MORE with the Affordable Medication Solutions RX Savings Card

BIN: 610322 MEMBER ID:

PATIENT’S LAST NAME AND FIRST INITIAL

PERSON CODE: 01 GROUP: GEN-CG-1 CASH GROUP: GEN-CG-2 INS

ColciGel.com

Indication: Acute Gout Flares Available through Specialty Pharmacy Only Available by Prescription Only ® ColciGel 2x15 mL NDC 35781-0400-4

Selena Carter, Implementation Specialist Phone: 318-600-3775 | Fax: 318-605-4619 carters@aﬀordablemedicationsolutions.com GENSCO PHARMA

A Specialty Pharmaceutical Company

genscopharma.com

Need help solving the marketing puzzle? At GRX Marketing, we specialize in offering marketing services to independent pharmacies across the United States. We are a hands-on, proactive, marketing team and we pride ourselves on presenting lowcost ideas to add new patients AND increase the spending of current ones. By operating as your personal marketing expert, you and your staff will have more time to spend with patients and focus on other tasks and goals.

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