Suzanne M. Gude
|
As January draws closer, the impending AMP issue is causing us to lose focus on what is most important. Some would argue AMP
is provoking a battle of views between the manufacturers (Ain't My Problem) and the pharmacists (About My unProfitability). While both have their valid concerns, let's bring the spotlight back to our common goal, Americans having access
to health care. Thus, I advocate we redefine AMP to read "Available Medicine for Patients."
We can all agree that, if implemented, AMP will impact an already-struggling independent pharmacy field. While 1,000 independents
closed in 2006, NCPA is predicting another 2,300 will close in early 2008. Makes you wonder how you are going to keep your
pharmacy open, doesn't it? First, let's reflect on the underlying effects of AMP and then tackle how your pharmacy can survive.
If 2,300 pharmacies are forced to close, then some towns could be left without a pharmacy. Thus, it isn't just the pharmacy
that is affected, but all the patients that may have to drive to another town to get their prescriptions filled. Local doctors
will be adversely impacted as well as other businesses and services. Our esteemed legislators have simply not thought this
through.
Typically, when tighter profit margins come to pass, most independents react by dramatically increasing the number of scripts
they fill. Is that really logical? How long can you continue to keep up with the chains by filling hundreds of Rxs every day
only to lose money in the end? At what point do you realize you are doing a disservice to your customers and say, "Enough
is enough!"? Find a niche
There is hope. Pharmacy owners in various parts of the country are achieving diverse levels of profitability. The most successful
credit niche markets as the key. Like you, these owners were frustrated until they adopted a profitable and less stressful
way to run their business. These independents realized compounding, senior care, DME, infusion therapy, HIV therapy, nuclear
pharmacy, vet care, and integrative medicine as well as other pharmacy niches are all viable solutions.
You, too, can develop an effective plan that results in a lucrative business in today's healthcare marketplace. I'm not saying
to stop filling regular Rxs. Your business could include 50% regular Rxs and 50% specialty. For those who have already found
your ideal focus, it's time to expand that aspect of your pharmacy to maximize profitability.
Please note that some niches may be practical for a limited amount of time. Therefore, evaluate your business at least annually
to determine the market(s) to adopt and drop the one(s) that have lost their luster.
In the spirit of keeping your pharmacy open, I propose we take the week of Oct. 21 to 27 to celebrate independent pharmacy.
I challenge you to take time during this week to reflect on your pharmacy business. What modifications can you make that will
yield a profitable outcome?
Promote independent pharmacy
Celebrate the week with your customers. This would be a great time to remind your patients and community that your pharmacy
provides a vital service. Be sure to obtain feedback from your patients on what type of specialty market they would support.
Educate them on AMP and other challenges you face. Your customers may be willing to write their legislators to help you battle
pharmacy issues.
Here are some ideas to get you started:
1. Customer Appreciation Day/Week—ask businesses in your area to participate. They can advertise for free by donating door prizes
to hand out during the week.
2. Contact your local media to cover your story.
