If you could choose a buying group (GPO) that was more than a supply agreement, what would you wish for?
That question has many answers because each pharmacy and community are unique. If you’re like most independent pharmacy owners it probably boils down to one of four things that we hear most often:
“Every dollar I save goes straight to my bottom line — help me reduce my cost of goods.”
“I get 95+% of my revenue from dispensing – help me expand my pharmacy model to support the everchanging needs of my patients and my business.”
“I went to school for pharmacy, not business – I need a partner I can lean on who can guide me to become a better owner.”
“I need someone who cares as much about my business as I do.”
Here at IPC, we start off with the fundamental premise that as great a pharmacist as you are, running a pharmacy is hard which means you need a partner who is great at the business of pharmacy.
We start by understanding your business, your community and your patients along with the challenges you face and where you want to go. Then we focus on the most impactful areas that need focus and craft a personalized plan for you to start. Since your Cost of Goods is the single largest expense, it often makes sense to start there, and we provide support and solutions for the entirety of your pharmacy.
We don’t have every answer for every pharmacy. What we do have is excellent people with some mad skills who are committed to the success of amazing, incredible frontline independent pharmacy owners.
Where our solution fits your need, we will deliver it. Any gaps in our solutions or expertise are filled using our Vendor Advantage Network, a network of qualified independent pharmacy solutions committed to your success as much as we are.
Before we go further into how we do it, it might be valuable for you to watch this short video and hear from some of the Independent Pharmacy Cooperative team:
To demonstrate how Independent Pharmacy Cooperative can drive success for you and your business we organized our solutions to align with the needs of an independent pharmacy business.
Purchasing Power
Does this sound familiar? Your wholesaler rep keeps telling you to be more compliant. And you need to buy the lowest price to make sure it is less than what you’re reimbursed. And you’re shopping your wholesaler and secondaries everyday hunting for the best price.
What if you could do all three with less stress and reduce your costs?
Team Empowerment
You can’t do it alone and yet you’re not sure how to get your team fully engaged. Sometimes they’re excited and committed and other times they are just going through the motions. Leadership and management are skills just like any other and it’s time to shed your self-doubt.
If your team were fully engaged, leaving you with time to work “on” your business and not “in” your business, where would you focus?
Growth and Expansion
Growing your pharmacy means different things to different owners. It could be adding new patients from the nursing home nearby or increasing the number of immunizations you give each year or expanding into 340B. Additional growth opportunities include telemedicine, medical at home, clinical services, or even OTC and retail merchandising and more!
Do you need a partner to help identify how you should expand your pharmacy model?
Operational Efficiency
If you are still operating the way you did ten years ago or even two years ago, then it might be time to rethink things. Pharmacy is changing faster than ever and you need to adapt. Whether it is leveraging technology or altering a process, change can be a critical step to improving your pharmacy.
What if you could implement changes that your staff supports?
Financial Clarity
Some people have a knack for being able to read a profit and loss statement and a balance sheet. Many, however, find it hard to digest all the data to understand what it means to the health of their business. Most find it is easier to just look at their bank account.
How much more confident would you be if you understood your financial statements and how they can help you make better decisions?
Not ready to make the switch to Independent Pharmacy Cooperative as your GPO? (we know you want to, but your contract says you can’t)
Take the first step to learn more about the impact we can make on your pharmacy by adding IPC as your secondary wholesaler of choice. We offer competitive pricing and low shipping minimums to help you navigate your current purchasing strategy with ease. You are also committing to health of the independent pharmacy because the profits from our warehouse go back to our member-owners, injecting much needed cash into the pharmacies of your peers and not Wall Street.
Innovation is critical to the success of every independent pharmacy
2020 and Covid proved that independent pharmacies are the most accessible healthcare destination, showing that patients require more than just medication dispensing services.
IPC is making a tremendous investment in innovation that help sustain your business for years to come. Welcome to IPC Digital Health and iCare+.
Pharmacy Newsletter
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