Thinking of retiring? Implement a succession plan several years in advance for a seamless transition. It’s just as important to have a profitable and smooth exit strategy as it is to have a successful business plan to open a new pharmacy or purchase an existing pharmacy. More than 37 percent of pharmacists were 55 or… Read more »
Thinking of selling your pharmacy? Learn how these two pharmacists pulled off a seamless transition and hand-off of a successful independent pharmacy. Ahmed Atallah and Tony Skelley have known each other for over 20 years, but wasn’t until eight years ago that Ahmed approached Tony about his interest in buying Skinners Pharmacy from Tony. At… Read more »
To successfully sell your pharmacy, timing is everything WSPC is here to help ensure that we preserve independent pharmacy by connecting and maintaining independent owners. If you are thinking of selling your pharmacy in the next one, three, or five years, then now is the time to begin. Crossing the t’s and dotting the i’s… Read more »
By Brad Tice, Incoming President-Elect of the American Pharmacists Association Pharmacy Times, October 19, 2017 The face of health care is rapidly changing as the entire industry evolves to a value-based care model that pays for quality and performance. What Does That Mean for Pharmacists? It means that pharmacists can finally move ‘beyond the script’… Read more »
By Robert Leark, PharmD, WSPC Board Member You’re considering buying a pharmacy. Congratulations on this exciting next step! Here are the top five important considerations when navigating the purchase process. #1 The Confidentiality Agreement The sale of a business is confidential. As the buyer, you will need to review many financial and prescription records and… Read more »
“The majority of positive changes I have implemented in my pharmacy can be sourced directly to the education I have received from my business coach.” – Brian L. Hunt, Pharm.D., Del Norte Pharmacies of New Mexico As a member of Good Neighbor Pharmacy® Premier, you’ll have access to experienced business coaches who are trusted advisors and… Read more »
Drug Store News, April 14, 2017 Drug Store News spoke with Brian Nightengale, President of Good Neighbor Pharmacy, about AmerisourceBergen strategic approach to independent pharmacy and commitment to enable pharmacists to practice at the top of their license. Excerpt below, click here to read the full story. By pharmacists: For pharmacists. That simple edict not… Read more »
Drug Store News, April 18, 2017 A pharmacy technician in Coeur d’Alene, ID, has become the first pharmacy technician in the United States to administer an immunization, Albertsons reports. The new ability for pharmacy technician Samantha Thompson stems from a new law in the state brought about by a partnership between Albertsons and the Washington… Read more »
By Craig Burgess, PharmD, Owner of Pinon Family Pharmacy, WSPC Regional Leader The Pharmacy to Hospice Administration program increases profits and creates better patient outcomes—a win-win for community pharmacies As pharmacy owners, we struggle to get a fair reimbursement rate with each prescription filled. PBMs are the primary beneficiary of our day-to-day hard work. During a recent… Read more »
Having a profitable and smooth exit strategy is paramount for any business owner facing retirement or a business sale. But independent pharmacy owners also can avoid selling out to the big chains, in favor of keeping the business they built strong and independent. If retirement is in your foreseeable future, you’re not alone. More than… Read more »
