Q&A: Transcript Pharmacy president discusses company’s growth
Jackson, Miss.-based Transcript Pharmacy has enjoyed stellar growth for several years running, culminating the company being named to Inc. Magazine’s top growth lists five times. Drug Store News reached out Transcript Pharmacy president Cliff Osbon for an exclusive interview to learn more about the company and its impressive year-over-year growth.
Drug Store News: Can you share some background about your company and the services you offer?
Osbon: Transcript Pharmacy is an independent specialty pharmacy, holding Board of Pharmacy permits in all 50 states and the District of Columbia. We currently work with clinics and patients in about half of the U.S. states and have the ability to order and dispense a growing portfolio of limited distribution agents. We have a proprietary patient care management system that supports our patients’ treatment journey, while maximizing persistence and adherence.
Our company was founded by two pharmacists in 2002. Our original and continuing mission is to help manage complex drug therapies in a way that maximizes patient outcomes and minimizes out of pocket costs.
DSN: What makes Transcript Pharmacy different from the competition?
Osbon: I think our company culture was formed early on. Everything we do revolves around patient convenience and our service to our customer-patient. For example, while we have robust data reporting capabilities and utilize technology extensively, we don’t place that between us and our customers in a way that delays their access to our staff or slows down our service time.
All of the technology works on the backend to help us manage patients care and our business but every patient can reach a live, friendly staff member within four rings when calling us during business hours. We don’t use an automated attendant or phone trees of any type. Health care professionals and patients tell us they love the way they can interact with our staff promptly and move on to manage the rest of their day.
DSN: Inc. Magazine has placed you on its top growth lists five times, pegging 152% three-year growth early in this decade. What is driving so much growth for your company?
Osbon: The Inc. Magazine listings were quite an honor! We aren’t aware of any other specialty pharmacy in the country or any other business based in our home state, of any sort, that made the Inc. 5000 List 5 years in a row. To make the Inc. 5,000 List requires dramatic year-on-year growth. While that can’t be sustained forever, we are proud of our continued growth, especially in the Southeastern and South Central U.S., where we most heavily focus our sales efforts.
The growth that helped us achieve Inc.’s recognition was pure organic growth, driven by our regional sales managers and our internal service team. Fortunately, health care professionals and patients liked our service and deemed us worthy of their ongoing loyalty.
DSN: What do think are some of the keys to providing great pharmacy care in the future?
Osbon: In John Naisbitt’s 1982 book, “Megatrends,” he discussed the importance of business combining both “high-tech” and “high touch” to be successful. Naisbitt was discussing how technology should be supportive of customer service but never become a substitute for customer service or interfere with the business-customer relationship. I took that to heart 35 years ago as a pharmacy school student, and we have continued to use that philosophy to guide our business.
To provide great pharmacy care, both now and in the future, pharmacies will need to utilize technological tools that help their team members provide care, comfort and counseling to their patients in a way that meets their needs while respecting how complex the health care system can be, working to help provide them with clarity and guidance regarding their health care.
To read about the company’s latest news regarding its reaccreditation by URAC for an additional three-year period, click here.