What is Freedom to Pharm™?
As an independent pharmacy owner, you have enormous responsibility, not just for your business, but for the health and well-being of your community. Between navigating rising drug costs, reimbursement challenges, and increasing competition, it’s easy to feel overwhelmed. But what if you had a partner who truly understood your struggles and provided real solutions to help you thrive?
At Independent Pharmacy Cooperative (IPC), we believe in giving you the Freedom to Pharm™, the ability to focus on what matters most: your patients, your family, and your future. We’re not just a Group Purchasing Organization (GPO) or secondary wholesaler; we’re a member-owned cooperative built by and for independent pharmacists like you.
For over 40 years, we’ve helped pharmacies strengthen their purchasing power, drive growth, optimize operations, execute a clear financial plan, and build high-performing teams. These pillars are the foundation of our approach, ensuring your pharmacy not only survives but thrives in today’s unforgiving market. This isn’t just about saving on supplies. It’s about securing your legacy.
Create Purchasing Power – More Than Just Savings
You face an uphill battle when it comes to purchasing. Between your primary wholesaler contract, terrible PBM reimbursement rates, and fluctuating drug costs, simply getting the best price isn’t enough, you need a purchasing strategy that helps you buy smarter, stay compliant, and acts as a secondary option to your primary wholesaler.
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Buy Smarter
Every dollar saved on purchasing is a dollar added to your bottom line. But with drug prices constantly shifting and PBMs cutting reimbursements and steering patients away from independent pharmacies like yours, finding the best deals can feel like a guessing game. How do you buy smarter?
- Use group purchasing power for better pricing.
- Source a secondary wholesaler that works alongside your primary.
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Stay Compliant – Have a Winning Purchasing Strategy:
PBMs DIR clawbacks may no longer be a thing, but their horrible reimbursement rates remain. They can reduce your profit, and if you’re not purchasing to your contract, you can lose out on rebates.
Compliance begins with:
- Know your contract and follow purchasing requirements to avoid loss of rebates
- Monitor changes in real time using compliance tools
- Find expert support to make smart purchasing decisions
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Supplement with a Secondary Wholesaler:
Even the best primary wholesalers can’t guarantee availability or pricing. To hit your GCR you need to know when to buy from a secondary wholesaler.
The IPC warehouse offers:
- We provide the best secondary market with unparalleled access to the most branded SKUs in the market, ensuring a wider selection and greater availability for your needs.
- Competitive pricing when your primary supplier is too expensive.
- Free shipping with affordable minimum orders.
- Easy ordering through our IPC ordering portal.
Run one cost comparison between your primary wholesaler and alternate sources for your top 5 movers.
Drive Growth & Expand Your Reach and Revenue
For far too long independent pharmacies like yours have relied on dispensing volume as the primary source of revenue. With shrinking reimbursements and increasing costs, diversification is no longer optional, it’s essential for survival. You must think about expanding the traditional pharmacy business model of dispensing medications and shifting your mentality into growth mode.
To thrive, you need diversified revenue streams that:
- Offset shrinking reimbursements
- Deepen patient relationships
- Future-ready your business
High-Impact Growth Opportunities
- Remote Patient Monitoring (RPM) & Chronic Care Management (CCM)
RPM and CCM are reimbursable services used to help improve patient outcomes and strengthen provider relationships. Often billed together as complementary services, you can generate Medicare reimbursable revenue while differentiating yourself from others.
- Track chronic conditions between doctor visits
- Medicare reimbursable (~$50K/year for 100 patients)
- Coordinate care for complex patients
- Get reimbursed by Medicare while improving outcomes
40-minute visit $28 to $36 /patient per visit
60-minute visit $44 to $52 /patient per visit
80-minute visit $60 to $68 /patient per visit
- Medical-at-Home Partnerships
- Provide post-discharge meds/supplies
- Reduce hospital remissions (valued by health systems)
Things to Remember:
- Reimbursements vary by payer/location
- Most successful programs combine RPM+CCM
- Proper coding is essential for billing
Getting Started
- Pick one service to pilot with engaged patients
- Training: Invest in additional certifications as needed for staff
- Track results – both clinical impact and revenue
Action: Choose one option to research this week. IPC’s Pharmacy Services can help determine what fits your pharmacy best.
Optimizing Operations – Reduce Costs, Streamline Workflows & Enhance Care
Independent pharmacies face a critical challenge: doing more with less. Here are some suggestions to eliminate waste and create seamless patient experiences.
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Invest in Technology That Pays for Itself
- Automated systems can save 10+ hours/week
- Robot-assisted counting machines reduce medication errors while cutting labor costs
- Predictive ordering software minimizes emergency purchases (which typically cost 15-25% more)
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Workflow Optimization That Actually Works
- Prescription Processing through standardized workstations with identical layouts across all counters with color-coded bins for different workflow stages. (e.g., red for “needs pharmacist verification”)
- Patient Flow Enhancements with designated separate pickup/drop-off areas to reduce lobby congestion, implement curbside pickup protocols for busy periods or install digital queue management to minimize wait-times.
One Operational Advantage: IPC’s Group Purchasing Power
While every pharmacy must optimize independently, IPC members gain access to:
- Expert Guidance: IPC’s team has decades of experience of providing personalized advice and tailored strategies unique to your pharmacy’s needs.
- Cutting-Edge Tools: Inventory management software & workflow optimization tools, IPC experts are here to help you simplify your operations.
- Proven Resources: Best practices, CE training, and workflow optimizations can help your pharmacy operate efficiently while eliminating waste and enabling your staff to work smarter, not harder.
- Cost Savings: Eliminating inefficiencies can drive down operating expenses allowing you to reinvest into growing your business. IPC experts will help you go through your operations to better optimize efficiency.
Action: Your 30-Day Challenge
- Conduct a waste audit – Track all expired medications this month
- Map your workflow – Identify one bottleneck to eliminate
- Implement one tech solution – Start with the biggest time-waster
- Measure the impact – Compare metrics before/after
Remember: A 10% reduction in operational waste can translate to $25,000−$50,000 annually for the average independent pharmacy. Where will you find your savings?
Executing a Clear Financial Plan – Your Roadmap to Pharmacy Success
As a pharmacy owner you wear many hats, but none is more critical than being the CFO of your business. Financial clarity separates thriving pharmacies from those struggling to survive. Here’s how to take control:
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Understand Your Financial Health (The Basics)
Key reports to review weekly:
- Profit & Loss Statement (Are you profitable after ALL expenses?)
- Accounts Receivable Aging (Who owes you money and for how long?)
- Cash Flow Projection (Can you cover next month’s bills?)
Action: This week, calculate your net profit per prescription (Total profit ÷ number of scripts). If it is below $8, dig deeper.
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Use Financial Data as Your GPS
Spot trends before they become emergencies:
- Compare PBM reimbursements monthly (Identify declining rates)
- Monitor inventory turnover (Slow movers = tied-up cash)
Negotiation power: Use your data to push back on unfavorable payer or warehouse contracts.
Action: Create a simple “Top 5 Expenses” dashboard visible to your management team.
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Set Goals That Matter
Financial security comes from:
- Building 3-6 months of operating reserves
- Paying down high-interest debt first
- Investing in profit-generating services (Not just busy work)
Pro tip: Allocate 1 hour a month to review goals with your accountant.
IPC has the expertise and qualified partners to ensure that you can gain the financial clarity you need for your business. We provide you with access to an advisor who has knowledge of the unique challenges independent pharmacy owners face and how they show up in your P&L and balance sheet. Our advisors and partners can review your financial statements and provide the guidance you need to evaluate the data, giving you the freedom to make accurate strategic decisions.
Action: This Week: Schedule 30 minutes to review your most recent P&L. Circle the top 3 numbers that surprise you (good or bad) and investigate why they look that way.
Remember: Financial control = business control = freedom to serve patients and live your life. Your numbers tell a story – make sure it’s one you want to hear.
Engage a High-Performing Team – Your Partners in Success
Running an independent pharmacy is a team sport. You can’t do it alone, you need knowledgeable partners, skilled staff, and the right resources to execute your vision. Here’s how to build and empower a team that drives results:
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Invest in Leadership Development
- Pharmacy-specific coaching: Work with industry experts who’ve helped independent owners to refine their leadership skills.
- Actionable training: Learn how to delegate effectively, motivate staff, and foster accountability, so you can focus on growth.
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Keep Your Team Sharp with Continuing Education
- On-demand webinars & courses: Stay ahead with training on clinical services, compliance, and emerging pharmacy trends.
- Staff certifications: Encourage technicians and pharmacists to pursue specialized training (e.g., immunizations, MTM, inventory management).
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Execute with Clear Implementation Plans
- Structured rollouts: Break down new initiatives (like RPM or 340B) into step-by-step action plans with assigned roles.
- Regular check-ins: Track progress and adjust strategies based on real-world feedback from your team.
The IPC Advantage: Our Pharmacy Services Team and Vendor Advantage Partners provide tools, training, and support to help you educate and train your team and successfully implement new programs with team engagement and support.
Action: This Week:
Choose one area to strengthen your team:
- Enroll in a leadership webinar
- Assign a staff member to enroll in or complete a certification course
- Schedule a strategy session to align on implementation plans
Your team is your greatest asset, invest in them, and they’ll invest in your success.
Your Future Starts with IPC
Independent pharmacy is more than a profession, it’s a calling. But you don’t have to face today’s challenges alone.
IPC is your partner, your advocate, and your competitive edge. We give you the tools, buying power, and strategic support to secure your business—so you can enjoy the Freedom to Pharm™ and focus on what truly matters.
Ready to See the Difference?
If you’re not already an IPC member, now is the time to act. Let’s discuss how we can help you:
- Save more on medications and supplies.
- Grow smarter with proven strategies.
- Operate efficiently to reclaim your time.
- Strengthen finances for long-term success.
- Build a team that drives results.
Discover the Freedom to Pharm™, Contact your regional director today and discover why thousands of independent pharmacies rely on IPC to help them Thrive. Your future is worth fighting for.
