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Independent pharmacies enrolled in AmerisourceBergen Drug Corporation’s business coaching program, on average, saw a 5% increase in sales-per-employee, the organization announced during its ThoughtSpot 2013 tradeshow in Las Vegas.
Independent pharmacies enrolled in AmerisourceBergen Drug Corporation’s (ABDC) business coaching program, on average, saw a 5% increase in sales-per-employee, the organization announced during its ThoughtSpot 2013 tradeshow in Las Vegas.
Community pharmacies in the Good Neighbor PharmacyBusiness Coaching program experienced the increase through store hour adjustments and/or reallocating labor costs, according to ABDC.
Pharmacies in the coaching program also decreased inventory by increasing the turns by 1.4 turns. “Independent community pharmacies continue to be challenged to keep their doors open while struggling with reimbursements and suffering from declining profits,” said A.J. Caffentzis, ABDC’s senior vice president of sales and marketing. “Yet, as many top-performing pharmacies have proven, these challenges can be met head on, and conquered, with the right tools and support.”
On average, program participants decreased incidents of ‘usual and customary claims’ by 61% year-over-year. Also, the pharmacies were half as likely to override or discount a pricing formula, ABDC reported.
“Pharmacy owners like myself juggle the responsibilities associated with owning a business, managing employees, and filling prescriptions,” said Steve Dawson, owner of McDowell Professional Pharmacy in McDowell, KY. “We really do not have time to assimilate data, make sense of it, and use it to benefit our business. Pharmacists are not business people by trade; we are taught to take care of patients. Business coaching is a key to keep independent pharmacy from becoming extinct in the next few years.”