VALLEY FORGE, Pa. — Independent pharmacies enrolled in AmerisourceBergen Drug Corp.'s Good Neighbor Pharmacy Business Coaching program have experienced per-employee sales increases of 5% on average, the company said.
AmerisourceBergen announced the finding at ThoughtSpot 2013, an independent pharmacy trade show taking place in Las Vegas. The company said the pharmacies realized the results through store-hour adjustments and reallocation of labor costs for efficiency. Coached pharmacies also decreased inventory by increasing turns by 1.4 turns per year and decreased incidence of "usual and customary claims" by 61% year-over-year and were half as likely to override or discount a pricing formula, enabling them to provide consistent pricing to patients.
"Independent community pharmacies continue to be challenged to keep their doors open while struggling with reimbursements and suffering from declining profits," AmerisourceBergen SVP sales and marketing A.J. Caffentzis said. "Yet, as many top-performing pharmacies have proven, these challenges can be met head-on and conquered with the right tools and support. We are proud to support independent community pharmacies with programs like our Business Coaching solution."
The Business Coaching process starts with an evaluation and strengthening of the core components of a pharmacy's business: profitability, inventory, financial management, third party and labor. Business coaches serve as advisers, working with each pharmacy to analyze the health of the entire business, pinpointing problem areas and offering recommendations.