The Business of Pharmacy – Taking You From Pharmacist to CEO

The Business of Pharmacy program aims to transform participants from a pharmacist to that of a successful pharmacy business owner. Hosted by 3 leading experts in the field of business pharmacy, this online program will help set participants up for success through dynamic narration accompanied with virtual presentation notes and deep dives into real-life business examples and 14 case scenarios.

OVERVIEW

Part of providing the highest quality of care to your patients involves operating your pharmacy as an efficient, profitable, and adaptable business. The business side of pharmacy, however, is often inadequately implemented due to insufficient course coverage and lower priority given in pharmacy degree programs, making business management a key unmet need among today’s pharmacists.

This 13-part program takes the participant on a step-wise journey through all essential aspects of pharmacy ownership from monetary aspects (accounts, profits, margins, payroll, sales/marketing, tax), inventory management, employee management, and human resources to identifying and solving operational inefficiencies to help optimally manage business and drive higher revenue and profits.

Understanding and controlling the business
The basics of accounting
Optimizing outlooks through accounting planning
Inventory & accounts receivable management
Fundamentals of marketing
Sales 101
Managing your employees
Human resources
Business entity types and tax implications
Third party audits
Controlling controlled substances
10 great habits
Case studies

Participants of this program will ultimately become empowered as business owners who can adapt to the inevitable and continuous evolution of the present day pharmacy and continue to thrive into the future ensuring business growth and superior patient care.

QUESTIONS? JOIN ONE OF OUR LIVE Q&A SESSIONS!

All participants will have the opportunity to join a live Q&A session featuring a representative from Independent Rx. We will share registration details via email for those enrolled in the program.

SNEAK PEEK – INTRODUCTION TO THE 3 PS WITH MARK BONDURANT

Click below to access the Sneak Peek page with a free preview featuring Mark BonDurant, Independent Rx's Chief Consultant, where he provides a great overview of the Business of Pharmacy and introduces you to “The Three Ps”

TESTIMONIAL

“This is a wonderful program that we will both be recommending to any new owner in the future. I was very impressed and walked away with a whole new look as our careers as pharmacy owners is about to take off. You have given us the confidence we needed and helped fuel the drive inside us to succeed.”

INTENDED AUDIENCE

Pharmacy owners, pharmacists in charge, and daily operation managers looking for foundational support and tools to improve their pharmacy business operations.

LEARNING OBJECTIVES

Recognize the interplay between patients, purchasing, and the payroll and how they play key roles in the control and success of the pharmacy business.
Differentiate between the 3 main financial statements and their roles in financial planning.
Define the principles that underlie effective inventory control.
Explain the fundamental aspects that underpin the principles and strategies of marketing and sales of a business.
Recognize the optimal approaches to adopt for the hiring, training, and development of employees to ensure their success as well as that of the business.
Recall tax implications of business entity types and best approaches to protect the business from third party audits.
Identify best practices and procedures for regulating controlled substances.
Apply key learnings on monetary aspects, inventory, and employee/human resources of a pharmacy to help overcome business and management challenges in the real-world

HARDWARE/SOFTWARE REQUIREMENTS

Desktop Browsers	Google Chrome, Apple Safari, Mozilla Firefox, Internet Explorer 11, Microsoft Edge, and Opera
Mobile	Apple iPhones and iPads iOS 6+, Android phones and tablets 4.1+
Internet connection	Viewing videos at 360p requires 1.0 Megabit per second (Mbps) Viewing videos at 480p (SD quality) requires 3.0 Mbps Viewing videos at 720p (HD quality) requires 5.0 Mbps
Hardware	Earbuds/headphones or built-in/external speakers