The Business of Pharmacy Podcast™

The Business of Pharmacy Podcast™ brings you in-depth, candid conversations with pharmacy business leaders. This week's episode features an exclusive interview with Stellus Rx founder and CEO Tony Willoughby, who gives us an inside look at how his company leverages technology to creatively scale more robust and personalized pharmacist-patient relationships and drive better health outcomes - tune in every Monday morning for a new episode.

• [00:00:23] Founded Stellus Rx pharmacy
• [00:01:12] Worked on frontlines firsthand
• [00:02:58] Provides tech adherence and engagement
• [00:03:50] Dispensing from local and central
• [00:05:09] Revenue majority services, some meds
• [00:10:31] Virtual relationships robust
• [00:14:04] COVID spurred virtual healthcare
• [00:18:05] Pharmacists review history beforehand
• [00:23:26] Meds enable behavior improvement
• [00:35:49] Scaled through smart technology
• [00:38:36] Added automated central fill
• [00:53:06] Grateful for sharing story

https://www.stellusrx.com/

Show Overview:

We discuss the evolution of the pharmacy benefit manager (PBM) industry with AJ Loiacono, founder and CEO of Capital Rx. AJ shares his experiences as an entrepreneur aiming to disrupt incumbent PBM models and practices.

https://www.cap-rx.com/

00:00 Introduction

00:23 AJ Loiacono introduces himself and Capital Rx

01:02 Changes in the PBM industry over the past 2 years

02:18 Role of modern communication and social media

03:06 The growth in prescription drug spending

04:42 Drug inflation and the shift from gross to net pricing

08:55 The complex and opaque drug supply chain

10:40 The need for PBM regulation and oversight

15:27 Capital Rx's competitive spirit and mission

18:52 Building out Capital Rx's leadership team

21:31 The challenge of tracking true drug prices

25:31 Expanding into government claims processing

26:11 Leading a growing organization as CEO

31:40 Most stressful times as an entrepreneur

37:14 Conviction as an entrepreneur

42:41 Precarious position of a startup CEO

46:17 Why some founders give up

48:15 AJ's Entrepreneur of the Year award

50:13 Being a "minmaxer" in business

52:00 Avoiding startup founder cliches

56:28 AJ's enthusiasm two years later

57:01 Outro

Overview:

- Guest: Melinda Su-En Lee, Co-Founder and CEO of Parcel Health

- Melinda talks about developing sustainable medication packaging to replace plastic pill bottles

- She discusses the importance of marketing and branding for pharmacies using their product

Key Topics Covered:

- Inspiration for starting Parcel Health and developing the Phill Box

- Design process and iterations of the Phill Box

- Safety features and ease of use, especially for elderly patients

- Marketing strategies and pivoting from sustainability focus to highlight benefits for pharmacies

- Customized branding and marketing opportunities on the Phill Box for pharmacies

- Importance of physical/tangible marketing tactics compared to digital

- How marketing and advertising has changed over the years

- Balancing functionality and sustainability in product development

Resources Mentioned:

Mike Koelzer and Paul Fortunato of RxPharmacy Assurance delve into the intricacies of self-insurance in connection with the pharmaceutical sector. Fortunato emphasizes that many U.S. employees are under self-insured plans. They provide stop-loss coverage, aiding businesses in handling the fiscal strains associated with expensive specialty drugs. Bigger firms often choose self-insurance for adaptability, while smaller ones struggle with fluctuating premiums. The dialogue highlights the necessity of harmonizing cost-effectiveness and excellence in healthcare for both employers and the workforce. https://rxpharmacyassurance.com/

Phil Cowley, owner of Cache Valley Pharmacy, leveraged social media platforms in 2021 to enhance his business, notably under the handle @philsmypharmacist. Quickly amassing a large following, he became an advocate for reforms in the pharmacy sector, spotlighting issues with pharmacy benefit managers (PBMs). Beyond professional advocacy, he candidly shared personal challenges, championing authenticity. In a dialogue with Mike, they discussed the deeper industry problems, the value of unity, and the intricacies of social media monetization. At the heart, Phil's goal is to uplift the pharmacy profession through kindness and community engagement.

https://www.instagram.com/philsmypharmacist/reels/

In this episode, host Mike Koelzer talks with Britney Beck, the owner of Hi-Wire HR Consulting, discussing the unique HR challenges independent pharmacies face. The conversation sheds light on handling difficult staff, attendance issues, the balance between business needs and employee management, and the impact of COVID-19 on pharmacy businesses. Beck emphasizes the importance of a balanced and consistent approach to HR management in the pharmacy sector, highlighting the need for clear policies, flexibility, and empathy in the workplace. They also discuss the fear of employee turnover, the impact of employee behavior on brand image, and the importance of professional assistance in HR management.

https://hiwirehr.co/

Join Mike Koelzer in an eye-opening discussion with Chris Blackley, CEO of Prescriptive Health. Discover how they break barriers in patient care by using data to empower patients, advocating for legislative changes, and challenging the status quo in the healthcare industry. This episode unveils a new perspective on the future of healthcare.

https://prescryptive.com

In this episode, Mike Koelzer and Andrea Iorio discuss the challenges businesses face in navigating politics, dynamics, and change. They highlight the hindrance of nepotism and personal relationships to open discussion, emphasizing the importance of trust, psychological safety, and creating an environment where employees feel comfortable contributing their ideas. The conversation also touches on the need for collaboration, adapting to technological advancements, and utilizing AI tools to gain insights and drive innovation. Overall, the episode provides valuable insights into fostering a culture of innovation and embracing change in today's business landscape. https://andreaiorio.com/

Mike Koelzer, the host, engages in a conversation about pharmacy leadership with Jason Chenard, an experienced and knowledgeable pharmacy professional.

• They discuss the importance of assembling the right team and making necessary personnel changes.
• Jason Chenard shares insights and expertise based on his extensive experience in the pharmacy industry.
• The conversation emphasizes the value of understanding team members' strengths and personalities for a harmonious work environment.
• Emotional intelligence and active listening are highlighted as crucial skills for effective leadership.
• Writing is recognized as a valuable tool for organizing thoughts and generating insights, and Jason Chenard's articles on platforms like LinkedIn and Medium are mentioned.
• Mike praises Jason's leadership skills and encourages listeners to engage with his content and training.
• Jason Chenard's full name is mentioned.
• The episode concludes with appreciation for Jason's contributions to the pharmacy world and an invitation for listeners to stay connected.

https://www.layeredleadership.ca/

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Episode Summary: In this episode, host Mike Koelzer interviews Colin Carr, a commercial real estate agent specializing in representing healthcare providers. They discuss the challenges and considerations specific to healthcare professionals when it comes to real estate transactions. Colin shares his expertise and insights on various topics, including the impact of aesthetics in healthcare facilities, the effects of COVID-19 on the commercial real estate market, zoning considerations for medical offices, and the importance of tenant representation. Listeners gain valuable knowledge on how to make informed decisions and optimize their real estate strategies in the healthcare industry.

Episode Highlights:

1. Understanding the Unique Demands of Healthcare Providers:

   • Different personality types among healthcare specialties
   • Importance of aesthetics in healthcare facilities
   • Creating a positive patient experience through cleanliness and attention to detail

2. Navigating the Impact of COVID-19 on Commercial Real Estate:

   • Sectors that remained strong (e.g., industrial, multi-family properties)
   • Changes in large office spaces due to remote work and downsizing
   • Resilience of retail spaces driven by strong retailers and economic conditions

3. Zoning Considerations and Classifications for Medical Offices:

   • Different state zoning laws and regulations
   • Classifications of medical office buildings (Class A, Class B, Class C)
   • Involvement of architects in navigating building codes and regulations

4. Neighboring Businesses and Building Conversions:

   • Parking challenges and congestion from successful neighboring businesses
   • Importance of landlords and property managers in maintaining a positive environment
   • Opportunities and challenges of building conversions and repurposing

5. Insights on the Self-Storage Industry and Lease Negotiations:

   • Rise of multi-story storage facilities and pod storage solutions
   • Common mistakes healthcare providers make in lease negotiations
   • Importance of tenant representation to secure competitive lease terms

6. The Complexity of Commercial Real Estate Negotiations:

   • Various factors in negotiations (lease rates, build-out periods, concessions)
   • Non-binding letters of intent and extensive lease agreements
   • The need for professional representation and multiple negotiations

7. The Importance of Professional Advice and Representation:

   • Real-life example highlighting the consequences of inadequate representation
   • Comparing real estate to seeking medical expertise rather than self-diagnosing
   • Balancing confidence and arrogance in negotiations

8. The Ratio of Property Ownership vs. Leasing in the Healthcare Industry:

   • Percentage of healthcare providers who own vs. lease their properties
   • Factors influencing the decision to lease or own (availability, market demand, flexibility)
   • Advantages of leasing (relocation, lower upfront costs, concessions) vs. owning (equity, tax deductions, control)

9. Key Takeaways and Next Steps:

   • Importance of understanding the long-term implications of real estate decisions
   • Hiring professional representation to navigate the process effectively
   • Exploring lease and purchase options, negotiating with multiple parties
   • Contacting Carr Healthcare Realty for expert assistance with real estate needs

10. Closing Remarks:

    • Gratitude to Colin Carr for sharing valuable insights and expertise
    • Encouragement for healthcare professionals to make informed real estate decisions
    • Preview of upcoming episodes and topics in the healthcare real estate industry

    
    

https://carr.us/

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Introduction: In this episode, we sit down with Mike Johnston, the founder and CEO of the National Pharmacy Technician Association. We discuss the unique challenges faced by pharmacy technicians, the dynamics of the community pharmacy landscape, and how we can foster a more supportive environment within the industry. Johnston shares his personal journey and his innovative ventures aimed at enhancing the pharmacy profession.

Key Points:

Show Notes

1. Introduction: Mike hosts Vinay Patel, the founder of MakoRx, a company aiming to integrate telemedicine and local community pharmacies for improved healthcare access and affordability.

2. Role of Local Pharmacies: Delve into the potential of local pharmacies to function as community healthcare hubs, offering essential services and bridging the gap between traditional in-person care and modern telemedicine.

3. Telemedicine in Action: Understand how telemedicine can cater to the healthcare needs of diverse demographics, particularly in rural areas, forming an important piece in the puzzle of comprehensive healthcare access.

4. Overcoming Challenges: Discuss hurdles encountered while introducing novel healthcare services and the importance of early adopters and real-time market feedback for strategy refinement.

5. Innovative Pharmacy Benefit Models: Discover an innovative cost-plus model for pharmacy benefits administration and learn about strategic partnerships that contribute to success.

6. Entrepreneurial Growth Journey: Learn about the transition from being an employee to owning a Pharmacy Benefit Management (PBM) company, how strategic partnerships have fueled growth, and how initial ideas evolved into concrete healthcare solutions.

7. Membership Healthcare Services: Understand the structure and benefits of a membership program, a subscription model offering basic healthcare services, providing a distinctive alternative to traditional insurance.

8. Artificial Intelligence in Medicine: Engage in a thought-provoking conversation on the potential and ethical implications of AI in healthcare and beyond.

9. Personal Reflections: Gain insights from personal experiences and challenges faced by both Mike and Vinay in their careers, alongside thoughts on managing a growing company and advice to fellow pharmacists.

10. Value-based Healthcare: Wrap up with a discussion on the importance of patient investment in their own healthcare, the value proposition of cash pay services, and the role of the internet in accelerating the cycle of value assessment.

https://www.makorx.com/

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In this episode, we host Ed Ullman, CEO of Wellness RX, who sheds light on the struggles of independent pharmacies. He proposes transforming for-profit pharmacies into nonprofit entities, focusing on community well-being and sustainable operations.

https://www.wellnessrxllc.com/

Key Points:

• Economic pressures and reimbursement issues in the pharmacy sector.
• Ullman's vision for a new pharmacy model, including mental health and wellness services.
• Experiences from opening the first nonprofit community pharmacy in the U.S.
• Reflections on pharmacists' role during the COVID-19 pandemic.
• Advocacy for legislative change, particularly Medicaid reimbursement.

Quotes:

1. "The public seeks leaders prioritizing community well-being." - Ed Ullman
2. "Nonprofit option offers stability and opportunity to make a salary without accumulating debt." - Ed Ullman
3. "Pharmacy profession can regain relevance by prioritizing community service, wellness, and sustainability." - Ed Ullman

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In this podcast, host Mike Koelzer and three individuals from Zillspace - Zach Chirico, Sebastian Endicott, and Aaron Hannah - discuss how their company helps independent pharmacies grow their business by serving as an outsourced sales and marketing team, building relationships with physicians, and utilizing a combination of in-person and remote meetings.

1. Z Space - healthcare access.
2. Outsource sales, marketing.
3. Personal interaction preferred.
4. Empathy, customer service.
5. Remote work challenges.
6. Building long-term relationships.
7. Amazon, Google, Berkshire Hathaway.
8. Mixed success healthcare disruption.
9. Specialized healthcare knowledge.
10. Collaboration for problem-solving.

https://www.zillspace.com/

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Mike Koelzer interviews Mike Zaccaro, CEO of Pharma Logistics. They discuss various aspects of pharmaceutical reverse distribution.

Some of the topics covered:

1. Return policies affect credit recovery
2. Importance of systems and processes
3. Brand promise: clean, comply, collect
4. Pharmacists lack leverage in returns
5. Data-driven solutions for reverse distribution
6. Importance of correct structure
7. Customer service and customization
8. Separating from the competition
9. Potential for expansion
10. Focus on reducing waste, maximizing value

https://pharmalogistics.com/

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In this episode, Mike Koelzer sits down with Wayne Glowac, the owner of Orion Marketing, to discuss effective marketing strategies for pharmacies. They cover a wide range of topics, from developing a strategy based on a clear vision and mission to building relationships with physicians and leveraging online platforms.

In this podcast episode, host Mike Koelzer and guest Brooke Griffin, a pharmacist and professor of pharmacy practice, discuss the importance of soft skills, self-awareness, and effective listening in various contexts, including healthcare, leadership, and personal relationships.

1. Self-awareness is key
2. Use validated surveys
3. Choose confidant carefully
4. Repeat back words
5. Be present always
6. Focus on gratitude
7. Say "tell me"
8. Create intentional spaces
9. Remember names intentionally
10. Listen before speaking

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Ned Milenkovich discusses his passion-driven career in drug and pharmacy law, emphasizing the importance of cultivating relationships, trust, and networking through various platforms and associations, while sharing insights on marketing, mentorship, and personal growth

Ned Milenkovich intro [00:00:25]

Cultivate relationships [00:01:10]

Trust in connections [00:02:55]

Passion-driven career [00:03:40]

Attorney marketing challenges [00:05:55]

Alternative career question [00:07:25]

Logistics/distribution answer [00:07:55]

Early career experiences [00:08:25]

Supply chain importance [00:10:10]

Surrounding with intelligence [00:10:25]

Attending conferences [00:11:25]

Giving back/mentoring [00:14:40]

Pharmacist bond [00:17:40]

Publishing vs LinkedIn [00:19:10]

Rx Village concept [00:20:55]

Rx Village marketing [00:21:10]

Law firm transition [00:21:55]

Self-initiated marketing [00:22:25]

Early Rx Village tools [00:23:10]

LinkedIn networking [00:24:25]

https://www.muchlaw.com/

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Episode Summary: In this episode, host Mike Koelzer speaks with Blair Thielemeir, the founder of Pharmapreneur Academy, about the future of pharmacy and overcoming self-limiting beliefs. They explore the need for pharmacists to adapt and evolve, embrace entrepreneurship, and take a proactive approach to patient care. Additionally, they discuss the importance of mental health support and the challenges faced by pharmacists in balancing their personal and professional lives. Key Topics:

• Host Mike Koelzer speaks with pharmacist Ray Carlson about the impact of chain pharmacies on the opioid epidemic 

• The discussion centers on the challenges faced by chain pharmacists in complying with federal laws designed to prevent the misuse and abuse of prescription drugs, specifically the OBRA 90 law 

• Ray argues that chain pharmacies have diminished the value of dispensing and introduced metrics, making it difficult for pharmacists to follow the law

• The importance of pharmacists' adherence to dispensing laws to mitigate the opioid crisis is emphasized 

• Ray highlights the critical role of professional associations and the need for representation for chain pharmacists in these organizations 

• The power of professional engagement in influencing legislation and the consequences of apathy among chain pharmacists are discussed 

• The impact of chain pharmacies on independent pharmacies is touched upon, as well as the influence of pharmacy benefit managers on patient care 

• The need for greater education and public awareness of the laws governing medication dispensing is stressed 

• The urgent need for chain pharmacists to take an active role in their profession, engage in conversations about important issues, and prioritize patient safety in their practices is emphasized 
• By doing so, the speakers argue, pharmacists can be a powerful force in mitigating the opioid crisis and effecting change in the pharmacy profession

In this podcast, host Mike Koelzer interviews Leanna Gantt, inventor of tooktake Dosage Reminder Labels. 

Leanna shares her personal experience of creating the product to help people keep track of their medication and the challenges she faced in bringing it to market. The conversation covers topics such as medication adherence, gamification, and the financial and personal struggles of starting a business. Join us as we dive into the fascinating story of tooktake and its creator. 

• Leanna explains tooktake, a sticker that helps patients keep track of whether they have taken their medication or not. 
• There are four varieties of tooktake labels, including daily, hourly, monthly, and up to 10 days, which have tabs for different dosing requirements. The labels allow patients to keep their medication in its original packaging with directions, warnings, expiration dates, and refill numbers. 
• When the patient takes their medication for the day, they pull a tab off the sticker to indicate that they have taken it. Leanna created tooktake labels after experiencing difficulty keeping track of her medication during cancer treatment. 
• She notes that tooktake labels appeal to a younger audience than traditional pill organizers because they are simple and tactile, requiring no programming. 
• Leanna discusses the challenges of bringing an invention to market and notes that she didn't fully realize how difficult the process would be when she started. tooktake is still in the startup phase, but it is doing well, with distribution through Cardinal Health and placement in some big pharmacy chains.
•  Leanna notes that the goal now is to get consumers to know about the product and is relying on word of mouth to spread the message. 

Description: In this episode of the podcast, host Mike Koelzer talks to Kyle McCormick, a pharmacist and owner of Blueberry Pharmacy, about the future of pharmacy pricing. They discuss the evolution of the cost-plus pricing model in the pharmacy industry and how it has simplified pricing for patients. They also discuss the challenges faced by independent pharmacies in competing with larger companies, such as Mark Cuban's pharmacy, and the importance of communication and customer service in attracting and retaining customers.

Episode Highlights:

• The cost-plus pricing model in the pharmacy industry is becoming increasingly popular as it offers transparency and simplification of pricing for patients. Pharmacists can set the cost that covers their service, and the level of service can vary.
• Independent pharmacies, such as Blueberry Pharmacy, can differentiate themselves from larger companies, such as Mark Cuban's pharmacy, by providing a higher level of service, such as counseling patients and checking for drug interactions.
• Kyle McCormick believes that the future of pharmacy pricing involves a change in the reimbursement model, where pharmacists are paid for their service rather than negotiating drug prices.
• Kyle emphasizes the importance of incentivizing healthcare providers to prioritize patient care over financial gain.
• The conversation also touches on the challenges faced by independent pharmacies in competing with larger companies, such as the threat posed by Mark Cuban's pharmacy.
• Finally, the episode concludes with a discussion on the role of marketing and branding in attracting and retaining customers, with Kyle McCormick sharing his marketing strategy for Blueberry Pharmacy.

https://blueberrypharmacy.com/

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Podcast Show Notes:

• Host Mike Koelzer interviews Michael Solazzo, Vice President of Sales and Marketing for Capital Wholesale Drug Company, on the relationships between primary and secondary wholesalers with independent pharmacies.
• Solazzo discusses the difference between pharmacists and salespeople, highlighting the importance of maintaining relationships based on delivering value.
• The conversation touches on unethical practices in the pharmaceutical industry, such as giving away gifts to customers, and how these practices have been scaled back due to scrutiny and regulation.
• They discuss the challenges faced by salespeople on the road, the metrics used to evaluate their performance, and the need for establishing truthful relationships with customers.
• Solazzo explains how secondary suppliers like his company are more flexible than primary suppliers in adjusting pricing and working with customers to understand their buy plans.
• They discuss the emergence of new platforms that facilitate transactions and take into account the entire buy plan, as well as the challenges of the over-the-counter (OTC) business and the importance of pharmacists in the community.
• The conversation then moves on to discussing the different types of pharmacists and customers, the prevalence of Prime Vendor Agreements (PVA) in the industry, and the importance of relationships and trust in the industry.
• Solazzo talks about how companies like Capital Rx work with manufacturers and customers, and how the sales reps at his company make phone calls to existing customers, offer special deals, and provide information about product availability.
• They discuss the upcoming DSESA compliance regulations and the importance of being compliant to prevent counterfeit drugs and diversion.
• Finally, they touch on the potential impact of new technology on the industry, such as the use of third-party platforms to facilitate transactions and monitor compliance, and the history of drug safety regulations.

Overall, the podcast provides insight into the complex relationships that exist between primary and secondary wholesalers and independent pharmacies, and the strategies used to maintain these relationships in the pharmaceutical industry.

https://www.capital-drug.com/

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In this episode, Navid, the CEO of three innovative healthcare companies, sits down with Mike to discuss the power of AI in revolutionizing the medical industry.

With a background in finance and law, Navid co-founded CureMetrix and CureMatch, which use AI and machine learning technology to improve cancer detection and treatment. The American Medical Association recently recognized CureMatch, making it the first of its kind in providing augmentative intelligence to oncologists.

Navid and Mike delve into the benefits of using chat GPT in healthcare, including the automation of repetitive tasks and the ability for healthcare professionals to focus on more important things. They also discuss the role of AI in clinical trials and how it can improve patient care.

Navid believes that AI will not replace doctors, but rather enhance their abilities to make more informed therapy decisions. The ultimate goal of using AI in healthcare is to make cancer a manageable condition and improve overall health through early detection.

Tune in to learn about Navid's background and the exciting work he is doing in the field of AI and healthcare.

https://aimedglobal.com/

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Tim Ulbrich, CEO of Your Financial Pharmacist and host Mike Koelzer discuss the impact of technology on the pharmacy profession, financial wellness for pharmacists, and the future of education, and how it may be disrupted by the rise of technology and alternative education options.

Show Notes:

• Introduction: Tim Ulbrich, CEO and co-founder of Your Financial Pharmacist, joins host Mike Koelzer to discuss the impact of technology, specifically ChatGPT-3, on the pharmacy profession and financial wellness for pharmacists.
• The Emotional Side of Financial Planning: The podcast delves into the emotional aspects of financial planning, which has become increasingly important in today's world.
• The Over-Glorification of Entrepreneurship: Tim mentions that not everyone is cut out for entrepreneurship and that there are times when a steady job can be more peaceful. Mike wonders if his pharmacy niche is too narrow but acknowledges his expertise in the field.
• Finding a Target Audience and Niche: Tim and Mike discuss the importance of defining a target audience and finding a niche when starting a business. They agree that a narrow target audience allows for better segmentation and customization.
• The Impact of Technology on Education: Tim and Mike discuss the impact of chatbots like ChatGPT on education and various industries. They believe that the technology could shift the focus from learning things to asking the right questions.
• The Future of Education: Tim and Mike agree that academic institutions will have to evolve and adapt to changes. Tim suggests a network-based apprenticeship model, while Mike points out the need for new ways of measuring skills and achievement.
• Social Media and Technology's Impact on Professionals: Tim and Mike discuss the impact of social media and technology on professions, including the value of a college education. They acknowledge that changes may occur in the long run, but that the resistance of established organizations may slow down the process.

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Summary: Patrick Lot, an executive and leadership coach, is discussing the gap between the expectations of employees and the reality of what is seen in the workplace, specifically in the field of pharmacy. He discusses the importance of investing in staff and creating a culture of trust and accountability within the organization.

• Discusses the gap between expectations of employees and reality in the workplace, particularly in the field of pharmacy
• Explains the potential reasons for this gap in the field of pharmacy
• Mentions the use of the DISC profile to identify personality differences among employees
• Emphasizes the importance of investment in staff and spending time with patients
• Advises owners to trust and empower highly paid professionals and not to have shortsighted vision
• Discusses the importance of consistency and predictability in leadership style and how it affects the stability of a business
• Suggest that staff should know what they can depend on from their leaders and that it is important for leaders to have tools for managing their emotions
• Discusses the challenges of taking over a store from parents or through a junior partnership, and how it can be difficult to assert oneself and be supported in that role
• Advises that honesty and being forthright would have gone a long way in these situations and that it is important to set expectations
• Discusses the importance of clear communication and expectations in the workplace. He emphasizes the importance of being consistent and transparent with employees, and of being willing to help and support them in achieving their goals.

Nicolle McClure and Mike Koelzer discuss the challenges of marketing for community pharmacies and the importance of both digital marketing and personal interactions, as well as the difficulty of tracking marketing effectiveness and the need for independent pharmacies to differentiate themselves through personal relationships and community involvement.

Show Notes:

• Introduction to Nicolle McClure, president and owner of GRX Marketing, a full-service marketing company that works with independent pharmacies in the US
• Discussion of the challenges of marketing for community pharmacies, including the importance of both digital and face-to-face interactions in building a pharmacy's brand and growing its customer base
• Difficulty in tracking the effectiveness of certain marketing efforts and the importance of considering both cold, numerical metrics and warm, personal interactions
• Advice for independent pharmacies to differentiate themselves from larger chains by focusing on personal relationships with customers and local community involvement
• Importance of good customer service in the pharmacy and its impact on marketing efforts
• Challenges of creating and posting regular content on social media and the importance of having a consistent presence
• Importance of having a unique brand and message to differentiate independent pharmacies from larger chain pharmacies
• Use of QR codes in marketing and their ability to track effectiveness
• Nicolle's background in pharmacy marketing and the importance of marketing for independent pharmacies
• GRX Marketing company consists of 12 employees who work in-house and do not typically contract out work
• Challenges of working with clients who have a hard time narrowing down their message and focusing on one thing
• Challenges of marketing for pharmacies, including lack of word-of-mouth marketing and difficulties in tracking effectiveness
• Use of referral programs and email marketing as promotional strategies

"Trauma is not limited to veterans. It's not limited to you going overseas in the middle of nowhere and getting in your battle zone and coming back with flashbacks and nightmares. It's about things that didn't happen to you, that was supposed to happen to you." - Helen Sairany

Helen Sairany is the CEO and Executive Vice President for the Florida Pharmacy Association. She is passionate about exploring the effects of trauma, which has been especially pertinent during the pandemic. She finds that many healthcare workers are suffering from PTSD due to the pandemic. She explains that trauma is not limited to veterans and can come from a variety of sources. Helen also explains that toxic masculinity can lead to men downplaying their trauma and not seeking help. She explains that children are naturally narcissistic and that this can carry into adulthood if not properly addressed. Finally, she explains the signs of a narcissistic boss and how they can emotionally drain those around them.

In this episode, you will learn the following:
1. How is the trauma caused by the pandemic affecting healthcare professionals?
2. What are the consequences of growing up in a dysfunctional family environment?
3. What are the warning signs of narcissistic abuse in work and personal relationships?

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In this podcast episode, Doug Hoey, R.Ph., CEO of the National Community Pharmacists Association, bravely confronts the FTC's historically anti-pharmacy stance, inspiring 24,000 responses to challenge the decades-old consumer welfare standard and restore competition for consumers. Doug Hoey, R.Ph. is the CEO for the National Community Pharmacists Association, representing independently owned pharmacies in the United States. He is an experienced advocate for independent pharmacies and has worked to protect consumer interests in the face of anti-competitive practices by PBMs. 

In this podcast, host Mike Koelzer interviews Nicolette Mathey, a pharmacist and owner of a consulting firm that focuses on sales and marketing for independent pharmacies. Mathey discusses the importance of finding a niche for your pharmacy and aligning it with your passions, profits, patients, and payers. She also highlights the need for pharmacies to focus on closing sales, rather than just brand awareness, in today's challenging reimbursement landscape. Mathey shares her experiences as a consultant and discusses the importance of putting in the work and building relationships to grow a successful pharmacy business.

In this podcast episode, Gareth Shaw of Doceree discusses how his company is working to empower Life Science brands to better engage healthcare professionals through digital media and messaging, with a focus on driving meaningful engagement. You will learn about how programmatic technology and big data are making marketing more efficient and effective.

Gareth Shaw is the general manager for global partnerships at Docker. He works to empower Life Science brands and their marketing teams to better engage healthcare professionals and pharmacists through digital media, messaging and adverts.

This episode is about The use of technology in marketing, specifically programmatic technology and big data. Gareth Shaw learned about The use of technology in marketing, specifically programmatic technology and big data from working at a company called Doceree. The main points of the episode are that programmatic technology and big data can be used to more effectively target customers, and that this can be beneficial for both marketers and customers.

"The key word is engagement. Yes, you hit the nail on the head with engagement. The way we view the world, it's not around how many ads did I show, how many ad impressions it is? Am I actually engaging? What's happening after that? I've shown what's the behavioral, the aptitude or change in the audience."

In this episode, you will learn the following:
1. How programmatic technology is being used in the life science industry to drive better engagement and more targeted messaging.
2. The potential for programmatic technology to improve outcomes for patients by providing more timely and relevant information to physicians.
3. How programmatic technology can help pharmaceutical companies more effectively use coupons and other promotional materials to drive sales.

Resources:
https://doceree.com/us/

Other episodes you'll enjoy:
https://www.bizofpharmpod.com/inner-workings-of-a-state-pharmacy-board-ned-milenkovich-pharmd-atty-much-law/

https://www.bizofpharmpod.com/startup_lessons_learned_kristin_tallent_pharmd_collaborative_therapeutics/

https://www.bizofpharmpod.com/comfortable-in-the-uncomfortable-jena-quinn-pharmd-bcpps-perfecting-peds/

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Twitter: https://twitter.com/bizofpharmpod
LinkedIn: https://www.linkedin.com/company/bizofpharmpod
Website: https://www.bizofpharmpod.com

Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/

Follow Jena Quinn, PharmD, on her journey as she boldly takes on the challenge of transforming healthcare for medically-complex children, facing challenges to ultimately reach her goal of providing comprehensive medication management to every patient.

Jena Quinn is a business owner and pharmacist of Perfecting Peds, a company she started a year ago. She specializes in providing comprehensive medication management to medically complex children and high risk maternal medicine patients.

This episode is about Entrepreneurship journey. Jena Quinn, PharmD learned about Entrepreneurship journey through her own business ventures. She found out her biggest challenge was lack of resources, but was able to supplement her pharmacist salary with multilevel marketing. Jena used social media to market her business, promote her services, and to be relatable to her customers. She also learned to be honest about her own journey and her limitations in order to be successful. To reach a larger audience, she uses LinkedIn for professional networking and to read about others' journeys. Jena is focused on providing clinically complex care to patients and hopes to scale her business in the future.

"I always felt like I'm so blessed to have this knowledge, and I would always think, what would a parent do that didn't have this knowledge?"

In this episode, you will learn the following:
1. How Jena Quinn, PharmD, used her knowledge of pediatric medicine and for her own parenting journey to help other parents.
2. How Jena was able to use her LLC to take on contracts from facilities with medically complex children.
3. Why Jena chose to focus her social media marketing efforts on LinkedIn instead of Facebook and Instagram.

Resources:

Ned Milenkovich, PharmD, Atty, discusses his time spent on a state pharmacy board.

Shannon Pukl, PharmD, MBA, discusses how her company fills a void for pharmacy business education.

Johny Kello and Renee Zawaideh talk about launching the new wholesale marketplace, MatchSquare

https://www.matchsquare.com/

Trevor Daer, BESc, CEO of president and founder of Granite Peak Analytics discusses how he analyses PBMs for businesses.

https://granitepeakrx.com/

Shawn Bjorndal & Kevin Walker, PharmDs, of RPhAlly discuss their evolving startup.

https://rphally.com/