Business Coaching

A Good Neighbor Pharmacy business coach offers a pharmacist advice on her front end

Get personalized support from an expert who understands your independence

We strive to form a unique partnership with each of our members—a deeper kind of relationship that helps you continuously improve your operational efficiency, financial performance and patient care. Our business coaches are trusted advisors who know exactly what it means to be an independent. As a Good Neighbor Pharmacy Premier member, your business coach will provide you with guidance tailored specifically for your store 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 and add dollars to your bottom line. Your coach will evaluate the precise needs of your pharmacy, identify opportunities to improve your operations and create an action plan for success. With a reliable stream of invaluable insight from your coach, you’ll be able to make smarter decisions that not only enhance the performance of your business, but also solidify the legacy of your pharmacy in your community.
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

A Good Neighbor Pharmacy business coach walks with a pharmacist

How your coach helps optimize business performance

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.

Protecting Profitability

Your business coach will help you limit profit leakage by showing you how to prioritize and address claims that weren’t paid at the maximum amount. They’ll also provide you with straightforward guidance on conversions to make sure you take full advantage of every profit opportunity.

Labor and Productivity

Payroll expenses are the largest cost for any retail pharmacy. Your business coach will assess your productivity levels using benchmarks and other financial indicators. From there, they’ll advise you on how you can operate more efficiently by adjusting labor costs, staff levels and store hours.

Peer Perspectives: Operations and Profitability

Donna of Ehrhardt Pharmacy

Find out how Donna Ehrhardt and her business coach discovered how a change to her pharmacy's hours of operation could make a big impact on her operations and profitability in just one year.

Coached pharmacies average:

Increased Gross Margins of

1.5%

Increased Retention of

2%

Increased Inventory by

1.4 turns


A Good Neighbor Pharmacy business coach reviews inventory behind the counter with a pharmacist

Inventory Optimization

A Good Neighbor Pharmacy business coach reviews inventory behind the counter with a pharmacist
Your business coach will work with you to determine current inventory performance levels and provide benchmarks against your peers. You’ll receive guidance on optimum order quantities, controlled substance discrepancies and long-term issues of inventory management, such as shrink, diversion and expired returns. Work with your coach to examine each opportunity and craft an action plan for your pharmacy, monitor results and make adjustments.
A Good Neighbor Pharmacy business coach reviews inventory behind the counter with a pharmacist

How your business coach helps you improve patient experience

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 your 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 your pharmacy is an unforgettable shopping destination.

Adherence

To maintain your access to patients, you need to demonstrate that you can positively impact patient outcomes and drive adherence. Your business coach will show you how to use a variety of tools and techniques to identify these opportunities, take action and gain a deeper understanding of Star Ratings.

Marketing Strategies

Your business coach will help you identify influential patients and prescribers and monitor the trends of both. Using data and analytics, you’ll see who your customers are, and who they’re not, allowing you to develop targeted marketing campaigns. You’ll learn new strategies to maximize marketing spend, target top prescribers and measure results.

A Good Neighbor Pharmacy business coach trains pharmacy staff members

Employment Development

A Good Neighbor Pharmacy business coach trains pharmacy staff members
Your staff plays the most important role in customer experience and patient satisfaction. They need to uphold the high standards of your pharmacy while also bringing value to your business through adherence initiatives. Your business coach will work with you and your staff to maximize productivity, improve patient experience and identify business tasks that can be delegated to key members of your team.
A Good Neighbor Pharmacy business coach trains pharmacy staff members

Get in touch

At Good Neighbor Pharmacy, our expert team is aligned in its commitment to your needs and the interests of independent pharmacies across the United States. Want to know more about how Good Neighbor Pharmacy can amplify your brand, simplify your business operations and protect your independence?