Pharmacist graduation rate to be 15,000 new grads per year by 2018....

[BF7]

I don't think many off us are doing our own contracting. Most of us are part of a PSAO. You mentioned you are with Health Mart. Don't you have to accept their negotiated rates as a condition of being part of Health Mart?

As part of the access health PSAO( I'm not) I believe that members do.

---

Members don't see this ad.

 

[BF7]

Pharmaserve is a DOS based system with a fancy GUI to make it look like a windows based system. Underneath it's all DOS. I've seen Pharmaserve. Of all the systems I've used and seen it was by far the worst. Basically a small step above a type writer and universal claim forms in my opinion. A very basic bill and fill system.

I agree that pioneer is more cutting edge... Pharmserv has windows based functionality and it's simple to train employees on. But the point is moot. Everyone has their personal preferences There are plenty of health mart customers who prefer pioneer rx to McKesson's pharmserv or enterprise rx. The pharmacy system an owner chooses to use is independent of the wholesaler they chose to do business with.

 

[Gombrich12]

So are you guys who are running independents focusing on compounding/nursing homes/some other niche? I can't believe an independent could make it these days just filling scripts for the general public.

 

[BF7]

So are you guys who are running independents focusing on compounding/nursing homes/some other niche? I can't believe an independent could make it these days just filling scripts for the general public.

Just filling scripts...but in non sterile compounding there is a great deal of additional high margin ( relative to traditional dispensing of meds) dollars to be made without the risk and headache of dealing with USP 800 and a multitude of potential policy and equipment upgrades while performing STERILE compounding. My new store will have a compounding room for non sterile compounds. It's in a different demographic market too.



Dispensing to LTC facilities also has higher margins than traditional dispensing.

FYI-- the AVERAGE gross margin per Rx in retail is roughly $11.50. That's per
an NCPA survey from 2012. I know 4 other pharmacy owners and our average gross margin per RX is no less than $14 per.

So think of how many Rxs you fill while working at the chain stores ( who undeniably get a better COGs and therefore greater gross margin) and multiply that by $11.50. That's a bare bottom estimation of the gross profit that your store made during your shift.


For example 150rxs x $11.50= $1725. That doesn't include any OTC sales that on average have a 40% gross margin.

The gross margin is what your employer uses to pay your salary, your techs salary , electricity, rent etc... The traditional Dispensing of medications is still profitable ( about 21-22% gross margin on average).

 

[BF7]

Here's an independent in Midland Texas that does 900+ Rxs per day despite being surrounded by WAGs, CVS, walmart, SAMs club, albertsons, etc.

http://grahampharmacy.com

 

[MountainPharmD]

So are you guys who are running independents focusing on compounding/nursing homes/some other niche? I can't believe an independent could make it these days just filling scripts for the general public.

Believe it my friend...people have to fill their scripts somewhere. Why the hell would you go to CVS or Walgreens if you could go to an independent?

 

[pharm B]

Believe it my friend...people have to fill their scripts somewhere. Why the hell would you go to CVS or Walgreens if you could go to an independent?

I imagine this refers mainly to insured patients? Since most uninsured might now demand $4 generics. Or can you do that, too? (in all seriousness)

 

[pharm B]

Believe it my friend...people have to fill their scripts somewhere. Why the hell would you go to CVS or Walgreens if you could go to an independent?

Oh and I sent you a PM.

 

[confettiflyer]

Believe it my friend...people have to fill their scripts somewhere. Why the hell would you go to CVS or Walgreens if you could go to an independent?

Because I travel a lot and like the idea of having my Rx in some chain's system so I can fill it anywhere in the country at Sunday 2am.

That's what I *would* say seeing as I don't have any prescriptions anywhere.

 

[JanuviaGrl]

Awesome! I'm in the beginning stages of opening my second store. Shooting for a January 2015 opening. I have plans on paper for my third. The opportunities are out there...you just have to think outside the box and move out of your comfort zone a little.

I'll be looking for a PIC in a couple months...

Please share how you went about opening your first pharmacy. Business plan(is this absolutely required? If yes can one get someone or pay to have it prepared? If yes who or where?), business loan, need to join NCPA, resources to help. Will greatly appreciate answers.

 

[M0df]

Thank you BF7 and Mountain for all the useful info here and in other threads regarding ownership.

 

[Vatic]

http://fox11online.com/2014/09/25/pharmacy-school-could-open-in-green-bay-area/

It's amazing how a trend can get so overextended.

http://www.hpe.com/news/x532297318/Economic-developers-seek-regional-voice

Developer vermin are now in on the scam: "Near the top of the list of assets in the marketing brochure is High Point University’s proposed School of Pharmacy, Physical Therapy and Physician Assistant Studies."


I don't know whether to laugh or cry at the following: http://www.pressconnects.com/story/...bling-near-college-students-mistake/17225725/ "The recently announced BU pharmacy school will be even closer."

I really feel for you kids that have embarked on a pharmacy education. For God's sake get out.

 

[BidingMyTime]

I have to admit, as much as I enjoy being a pharmacist, I would be thinking carefully about future job prospects vs 6 - 8 years college debt.

 

[PharmDCandidate2014]

I have to admit, as much as I enjoy being a pharmacist, I would be thinking carefully about future job prospects vs 6 - 8 years college debt.

Exactly...it might be 'nice' now, but...

New grads getting that generous salary is definitely TEMPORARY. I'd say 2020 is the time when mainstream media realizes **** hit the fan and market forces start playing a major role in employment and wages.

Anyway, anyone watching the new Hunger Games?

 

[rxglasshalffull]

new grads in chains in desirable areas do not get enough hours. during my last half a year at this particularly chain in socal, i was working on average 31 hours a week, as indicated on my account, which was really nice. now that i got a new, more comfortable unionized job, im working 40 hours every single week, kinda hard to actually work 5 days a week!! i was so used to having at least 3 days of every week