Do More of What Works, Less of What Doesn’t Why Chasing Every Task Is Killing Your Pharmacy (and How to Fix It)
We’re all busy. Too busy, in fact. But busy doesn’t always mean productive, and it certainly doesn’t always mean profitable. The truth is that many pharmacy owners burn time, energy, and money on things that don’t work, while high-profit opportunities, the ones that could actually move the needle, get buried under endless to-do lists and half-baked projects. It’s time for a mindset shift: Do more of what works. Do less of what doesn’t. Sounds simple, right? It is. But simple doesn’t always mean easy. ‘WORKING’ = PROFITABILITY, NOT JUST ACTIVITY When I say “do more of what works,” I’m talking about one thing: profitability. For example, when I dug into my own pharmacy’s numbers, I learned some hard truths. Medicare DIR fees were eating away all the profit on branded prescriptions. The solution? I stopped filling nearly all branded meds on Medicare. Instead, I used RetailMyMeds. com to transfer those brand prescriptions to mail order while keeping the profitable generics for my pharmacy. Result? Higher margins, less wasted time, and fewer headaches. That’s the power of knowing your data. Once you can identify your high-profit Rxs, you can create a plan to grow that side of the business on purpose. And when you pinpoint the low or negative profit Rxs, you know exactly what needs to change, whether it’s purchasing better, requesting medication switches, or cutting them out entirely. DATA DOESN’T LIE, BUT INSTINCTS WILL When you’re in the thick of running a pharmacy, it’s easy to make decisions based on gut instincts or assumptions. I’ve had
owners tell me they’re launching some “big project” only to realize they’re fixing the wrong problem. Why? Because they never looked at the data. The numbers don’t lie, but our feelings often do. We get busy, distracted, spread too thin. Before you know it, you’re filling prescriptions that lose money, managing projects that drain energy, and saying “yes” to everything while profitability slips through the cracks. This is where the CEO mindset comes in. Stop reacting. Start analyzing. Build a business based on facts, not feelings. TRIM THE BRANCHES TO HELP THE TREE GROW Think of your pharmacy like a tree. If you want it to grow tall and strong, you’ve got to prune the branches. Otherwise, it just grows out in all directions and becomes a tangled mess with no clear path upward. Your time and energy work the same way. If you’re dividing them across 20 different projects, none of them will ever reach their full potential. But trim the dead weight, cut the unprofitable tasks, and focus only on what’s actually working? That’s when growth explodes. This isn’t about doing more. In fact, doing less often leads to more growth, more profit, and more time back in your day. MAKE NOVEMBER THE MONTH YOU REFOCUS Independent pharmacy owners, here’s my challenge to you: 1. Dig into your data. Find out exactly which prescriptions are making money and which are draining it. 2. Stop guessing. Build strategies based on real numbers, not gut feelings. 3. Prune the dead weight. Focus your time and energy on the tasks, prescriptions, and projects that actually grow your business. If you’re not sure where to start, that’s exactly why we offer Implementation Calls for Essentials members and above at 2 p.m. daily . Bring your data and your questions. We’ll help you cut the noise and focus on what’s actually profitable. Because at the end of the day, pharmacy success isn’t about doing more. It’s about doing more of what works and less of what doesn’t.
DiversifyRx.com 7
Made with FlippingBook Ebook Creator