- Joined
- Apr 12, 2009
- Messages
- 2,097
- Reaction score
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Sometimes you only have to observe what the majority are doing and run the other way to find success. Dr. M, that's what you did and it's awesome.
Too often people look for traditional methods.
There have always been many different niche in retail pharmacy. While I pursued pharmacy managment, I used to own a DME co. with respiratory and closed door pharmacy.
But one niche that's never been tapped is the 340B market. 340B is a federal program designed to support nonprofit health systems by providing many key outpatient drugs at approximately 30% below cost. These facilities can either own or designate a retail pharmacy to service their employees and residents of the county. Do your own google search to find out more.
In a nutshell, it's an opportunity to increase your gross margin dramatically.
To give you an example, Protonix 40mg tablet 340B price is 20 cents.
So, Dr. M, you and your partner should go find you a local 340B hospital and be their desinated retail pharmacy before someone else does.
Of course, typical 340B hospitals are in poor areas.
Some enterprising pharmacists will profit handsomely by tapping into this program while servicing needy patients.
Gloom and Doom on this board is comical. Also comical is hatred of retail chain pharmacy. Life is short. In fact, it's too short to live one while doing something you hate.
Hope this helps.
Too often people look for traditional methods.
There have always been many different niche in retail pharmacy. While I pursued pharmacy managment, I used to own a DME co. with respiratory and closed door pharmacy.
But one niche that's never been tapped is the 340B market. 340B is a federal program designed to support nonprofit health systems by providing many key outpatient drugs at approximately 30% below cost. These facilities can either own or designate a retail pharmacy to service their employees and residents of the county. Do your own google search to find out more.
In a nutshell, it's an opportunity to increase your gross margin dramatically.
To give you an example, Protonix 40mg tablet 340B price is 20 cents.
So, Dr. M, you and your partner should go find you a local 340B hospital and be their desinated retail pharmacy before someone else does.
Of course, typical 340B hospitals are in poor areas.
Some enterprising pharmacists will profit handsomely by tapping into this program while servicing needy patients.
Gloom and Doom on this board is comical. Also comical is hatred of retail chain pharmacy. Life is short. In fact, it's too short to live one while doing something you hate.
Hope this helps.
