Independent Pharmacy: Steps to Greater Success

By Roland G. Thomas

This book comes from what I have learned through trial and error. I pushed the envelope by investing my time and money to learn as much as possible. I see so many, perhaps unintentional, missed opportunities and dollars wasted regarding the physical aspects and the lack of utilization of the many tools available to Independent Pharmacies.

• Language: English
• Publisher: Trafford Publishing
• Release date: Feb 13, 2014
• ISBN: 9781490721545

Roland G. Thomas

Roland Thomas began his career with a national wholesale drug company. He became the youngest Pharmacy Design Consultant in the company’s history. He left the company in 1970 to begin his own company. He sold his interest in Display Options, Inc. in 2001 and at the writing of this book is a pharmacy planning specialist with their Rx Planning Solutions division. He served as president of both the North Carolina and South Carolina Traveling Members Auxiliary that were created to support each state’s Annual Pharmacy Conventions. Roland served on the South Carolina Board of Pharmacy in 1987 1988 as an ex-officio member. He has written several articles for The Southern Pharmacy Journal and The Palmetto Pharmacist. Many of his projects were featured in the SPJ with cover stories, one of which was shown on the front cover. Roland searched far and wide, without success, to find a handbook covering many of the topics covered in his book. That further inspired him to create one that could possibly help independent pharmacists make better choices. A complete overview of how the Independent Pharmacy Owner can achieve the most from his or her business by creating a unique business model based on the owner’s individual passion and circumstances.

Book preview

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INDEPENDENT

PHARMACY

Steps to Greater Success

ROLAND G. THOMAS

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© Copyright 2014 Roland G. Thomas.

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the written prior permission of the author.

ISBN: 978-1-4907-2155-2 (sc)

            978-1-4907-2154-5 (e)

Library of Congress Control Number: 2013923383

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Trafford rev. 2/12/2014

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Contents

Preface

Dedication

Chapter One

Chapter Two

Chapter Three

Chapter Four

Chapter Five

Chapter Six

Chapter Seven

Chapter Eight

Chapter Nine

Chapter Ten

Chapter Eleven

Chapter Twelve

Chapter Thirteen

Chapter Fourteen

Chapter Fifteen

Chapter Sixteen

Chapter Seventeen

Chapter Eighteen

Chapter Nineteen

Chapter Twenty

Chapter Twenty-One

Chapter Twenty-Two

Chapter Twenty-Three

Chapter Twenty-Four

Chapter Twenty-Five

Outdoor Identification

Chapter Twenty-Six

Chapter Twenty-Seven

Chapter Twenty-Eight

Chapter Twenty-Nine

Chapter Thirty

Chapter Thirty-One

Chapter Thirty-Two

Chapter Thirty-Three

Chapter Thirty Four

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"If I give you a dollar and you give me a dollar,

neither of us have gained anything.

On the other hand,

if I give you a good idea and you respond accordingly,

both of us have become more knowledgeable"

Preface

This book has been written for two primary reasons: (1) to share my ideas based on over forty years’ experience in pharmacy planning and (2) to hopefully give something back to the profession that has given so much to me. I will attempt to outline, in a step-by-step fashion, how, in my opinion, the independent pharmacy owner can best capitalize on the many opportunities that exist today and those that lie ahead. This book is not based on any personally conducted scientific data but, rather, on my own experiences and observations. Some of my personal opinions may conflict with ideas that are promoted and implemented by others in the business. Although my primary job for the most part has been pharmacy planning, I felt that knowing as much about pharmacy statistical data would provide a better platform in which to better assist my clients. I have devoted many hours asking questions and tapping into statistical data like the Lilly Digest and NCPA Digest. There is no intent on my part to provide any legal or accounting advice, pricing strategy, compliance issues, which computer system to use, how to buy or sell a pharmacy, or other administrative decisions. Others are much better equipped in those areas than myself. I will be focusing primarily on the physical components; services; merchandising and other factors, both inside and outside the building as it relates to the independent pharmacy. Dr. Thomas Sowell said If you want to help others you tell them the truth; If you want to help yourself, you tell them what they want to hear. My goal is that this book embodies that philosophical truth.

Dedication

I would like to dedicate this book to my two mentors, the late Brad Franklin and Ted Johnson. Also to the late Max Ginsberg, a great friend and former editor of the Southern Pharmacy Journal. To my wife, Gail, for her unwavering support and help with design concepts. But most of all, to the hundreds of pharmacists who have given me the opportunity to assist them and those who shared invaluable information about their businesses. Also, to others in the pharmaceutical industry who have inspired me over the course of my career, spanning more than four decades.

Chapter One

After graduating from pharmacy school and completing internships, pharmacists have a wide range of venues in which to practice their profession. It will depend on one’s individual passion as to whether to choose an institution, compounding laboratory, chain pharmacy, community pharmacy, or perhaps teaching pharmacology. This book, however, focuses primarily on the independent pharmacy, often referred to as a community pharmacy. I have been involved in all types of pharmacies, but most of my experience has been with independent pharmacies. There are pharmacies, independently owned, that are located inside medical centers or institutions or, perhaps, in the heart of a heavily populated metropolitan center. This book may not apply directly to those since the vast majority of the almost twenty-four thousand independent pharmacies in the United States are what I call neighborhood or community pharmacies.

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Chapter Two

I hope it will be informative to those who know nothing about me to shed some light on my background and to share some of my personal experiences, both good and bad. I began my career with a national wholesale drug company to become an operations manager in one of its one-hundred-plus locations. About two years later, I was introduced to the company’s pharmacy design department, which really excited me. I always enjoyed drawing, so this would become a life-changing turning point in my career. It correlated with my passion like a perfect-fitting glove. I immediately enrolled in an evening drafting course. This was long before CAD was introduced, so all drawings were done by hand with a scale, drawing paper, and pencil. Later, I was asked to get my military obligation behind me since the draft was in place at that time. I then attended a two-week training program in St. Louis. At that time, the company had a very high-caliber training program led by Mr. Brad Franklin. I believe that Brad, a former psychology professor at Columbia University, grasped the most thorough understanding of how the typical consumer reacts than anyone I had ever met. His concept was, once