Business Coaching

Our business coach has been a very important part of our success here at Madera Medical Pharmacy. We have gone through many changes within the past 1½ years, and I can truly say we couldn’t have done it without him. He is our trusted advisor and is always planning ahead for our business.

Ashley Melikian, Madera Medical Pharmacy, Madera, CA

At AmerisourceBergen, we are driven by a philosophy of forming innovative partnerships with our customers, a partnership that will help you improve operational efficiency, financial performance, patient access, and quality care. Our business coaches are trusted advisors and experts in independent pharmacy operations. As a member of Good Neighbor Pharmacy, your business coach will provide you with guidance based on the best business practices of more than 1,000 independent retail pharmacies with similar business models.

Business coaching allows you to focus your attention and energy on the health of your patients, while we focus on the health of your business—adding dollars to your bottom line. Your coach will evaluate the specific needs of your pharmacy and identify opportunities to improve operations and performance and create an action plan for success. Through this guidance, you’ll make smarter decisions based on the historical performance of your pharmacy and plan for future growth of your unique business.

Employee Development

Your staff plays the single most important role in customer experience and patient satisfaction and must uphold the high standards of your pharmacy while also bringing value to your business through initiatives such as adherence or marketing. As a Good Neighbor Pharmacy member, your business coach will work with you and your staff to maximize productivity, improve the patient experience and identify business tasks and initiatives that can be delegated to key members of your team.
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Financial Management

Benchmarking your financials against similar pharmacies can help provide you with a clear picture of your pharmacy’s financial status. Through peer benchmarking, your business coach will help you identify patterns and cash flow opportunities, as well as develop a baseline by which to measure future success.

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Coached Pharmacies Increase Gross Margin by 1.5% on Average

Protecting Profitability

Limit leakage by prioritizing and addressing claims that were not paid at maximum amount with the help of your business coach, as well as receive generic conversion guidance to maximize profit opportunity.

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Inventory Optimization

Your coach will work with you to determine current inventory performance levels and requirements, and provide benchmarking against your peers. You’ll receive guidance on optimum order quantities, identify controlled substance discrepancies and education on long-term issues of inventory management, such as shrink, diversion and expired returns. Work with your coach to examine each opportunity and to craft an action plan for your pharmacy, monitor results and make adjustments as necessary.

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Coached Pharmacies Increase Inventory by 1.4 Turns on Average

Labor and Productivity

Payroll expenses are the single largest expense category for a retail pharmacy. Your business coach will be able to assess your productivity levels by using benchmarks and other financial indicators. From there, your coach will advise on how you can operate more efficiently by appropriately adjusting labor costs, staff levels, and store hours.

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Prescriber and Patient Marketing Strategies

As a member of Good Neighbor Pharmacy, you’ll work with your business coach to identify influential patients and prescribers, and monitor the trends of both. With the use of data and analytics, you will see who your customers are, and who they are not, allowing you to develop targeted marketing campaigns. You’ll learn new strategies to maximize marketing spend, target top prescribers, and measure the results of your initiatives.

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Coached Pharmacies Realize a 2% Increase in Patient Retention on Average

Adherence

In order to have continued access to patients, it is imperative that independent community pharmacies demonstrate that they can positively impact patient outcomes and drive adherence. Your business coach will show you how to use a variety of tools and techniques (including training your staff) for identifying these opportunities, taking action, and gaining a deeper understanding of Star Ratings.

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Front End Effectiveness

Develop the right mix of products to carry in the front end of your pharmacy with the direction of your business coach. They’ll help you identify top items, and guide you in developing an action plan to maximize opportunities and measure results. Your coach will also help properly train staff to ensure the front end of the pharmacy is a shopping destination for your patients.

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