Drug Topics - October 22, 2007 - (Page 40)

40 DRUG TOPICS OCTOBER 22, 2007 www.drugtopics.com VIEWPOINT Suzanne M. Gude Anyone want to Make a Profit? 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 I advocate will impact an already-struggling independent we redefine pharmacy field. While 1,000 independents closed AMP to read in 2006, NCPA is predicting another 2,300 will close in early 2008. Makes you wonder how you “Available are going to keep your pharmacy open, doesn’t it? First, let’s reflect on the underlying effects of AMP Medicine for Patients.” 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!”? A causing us to lose focus on what is most important. s January draws closer, the impending AMP issue is 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. 3. Involve your Chamber of Commerce. 4. Invite a physician to be a part of a health fair. I urge you to take advantage of this opportunity because we are at a point where you need to take action. Our government could change its decision on AMP. Regardless of its verdict, you will be ahead of the game because you chose to take care of your customers and implemented a plan resulting in your survival. You have nothing to lose but everything to gain by joining us during National Independent Pharmacy Week. In the short term, all of this publicity and excitement should start you off to a profitable pneumonia season. If you would like, e-mail smgude@shbconsultants.com or post your story on the Keep Your Pharmacy Open Message Board. I would enjoy hearing how you celebrated National Independent Pharmacy Week. is a principal in SHB Consultants, www.shbconsultants.com, and president of the nonprofit Keep Your Pharmacy Open Inc., www.KeepYour-PharmacyOpen.com. Contact her at smgude@shbconsultants.com or (972) 471-0652. THE AUTHOR 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 http://www.drugtopics.com http://www.shbconsultants.com http://www.Keep-Your-PharmacyOpen.com http://www.Keep-Your-PharmacyOpen.com

Table of Contents Feed for the Digital Edition of Drug Topics - October 22, 2007

Drug Topics - October 22, 2007 Contents Latebreakers Legislative Victory Builds Momentum for Pharmacy Month Letters Health-System Edition R.Ph.s Brace for Payment Denial for Hospital-Acquired Conditions Topical Human Thrombin Helps Arrest Bleeding FDA Panels Fail to Set Target Levels for Renal Patients’ Hemoglobin Warning Letters Raise Patient Safety Concerns for Fentora Ending/Reversing Weight Gain Man Given Fatal Drug Overdose at Staten Island Hospital Pharmacists Playing More Important Role in Dialysis Treatment AHA President R.Ph.'s Here's How You Can Increase Your Value Premier Launches Comprehensive Quality Improvement Project FDA Approves Dexrazoxane for Treatment of Extravasation New Federal, State Reforms to Ease Disaster Relief Kinks 150 Years of American Pharmacy Ten Tips for MTM Success Independent Superstars: The Ones to Watch The New Dynamic Duo A Parkinson's Disease Primer Classified New Products Advertisers Index Viewpoint

Drug Topics - October 22, 2007

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