McKesson RxOwnership, a no-fee resource for independent pharmacies seeking financial and ownership transaction guidance, signed a new five-year commitment with the National Community Pharmacists Association to sponsor the Pharmacy Ownership Workshop series. This renewed agreement lengthens the total commitment to nearly 15 years of sponsorship. RxOwnership is a complete and confidential partner when considering buying, selling or starting a community pharmacy.
With many pharmacies struggling to survive in the complex and rapidly shifting business environment of the pandemic and stay-at-home orders, RxOwnership is expanding its services to include financial review and consultation. The team of trusted advisors can help pharmacy owners interpret financial statements to identify pharmacy strengths and weaknesses, compare results to national benchmarks and determine areas of improvement. The team assists with setting business goals, developing action plans to achieve better results and evaluating operational performance to maintain the pharmacy’s financial health.
RxOwnership also will host a two-part webinar series in 2021, offering tips and tricks to buying and selling a pharmacy from a team of experts with a collective 135 years’ experience in ownership transactions. Since 2008, the RxOwnership team has assisted more than 6,700 independent pharmacy ownership transactions.
The Ten Things to Keep in Mind When Buying a Pharmacy webinar will take place on Feb. 18 and outline for attendees key elements to keep in mind when buying a pharmacy in order to lead to a successful purchase. The Ten Areas of Focus for a Successful Ownership Transfer webinar will take place on March 4, offering attendees an outline of 10 elements that can help them get the maximum value for their lifetime investment.
"Despite the pandemic’s hit on small businesses, we have not seen a lull in interest in buying and starting pharmacies," said Chris Cella, national vice president of RxOwnership. "Operating a successful pharmacy is complicated, even under the best of circumstance. So, we are proud to provide resources to help pharmacies and owners achieve their goals. We’re helping pharmacists get back to doing what they know and love – and that’s taking care of people.”
RxOwnership said it is committed to helping pharmacy professionals assess and maintain the pharmacy’s financial health as well as ensure the successful sale, purchase or transfer of independent pharmacies. The Pharmacy Ownership Workshop equips pharmacists to be successful small business owners in a rapidly evolving healthcare industry.
Samantha Buck, owner of Embrace Pharmacy in Grand Forks, N.D., initially contacted RxOwnership about achieving her ownership goals. She opened Embrace Pharmacy in 2017. “To those who are on the fringe of deciding if ownership is the right move for them, I’d tell them that yes, it is terrifying, but it is the best thing I’ve ever done," Buck said. "It takes a lot of work, collaboration, and reaching out to your community, but it is completely worth the risk if you have the persistence to do it right.”