Q&A: Pharma Logistics’ Swanson discusses getting clients paid on time
Jeffrey Swanson, head of sales/customer success at Pharma Logistics, said that the secret to success is providing value to consumers when it is needed most. In an interview with Drug Store News, Swanson said his company can help retailers be more efficient and get money in their customers’ pockets faster for expired products and pharmaceutical returns.
Drug Store News: What do retailers in the healthcare space need to do to build sales in the category now?
Jeffrey Swanson: While the healthcare landscape has certainly changed, potentially with lasting effects, the secret to sales is still the same: providing value where it is needed the most. Retailers need to understand their customers and how they can help solve their problems. That may include learning how to adapt where necessary. You cannot continue trying to sell a product or service that nobody is asking for anymore and expect results. It does not matter how successful it was in the past. We all need to ensure we are listening to our customers and delivering the services that drive value where there is a demand for it.
Our customers are reporting that patient and employee safety, cost reductions and efficiency gains are currently driving sales. The truth is that sales are being impacted by the pandemic across all sectors. However, as we have seen, that impact is not uniform across the industry. Some healthcare services are affected more than others, with certain areas like telehealth and virtual communications experiencing growth.
DSN: What is Pharma Logistics doing to help its customers?
JS: Pharma Logistics has developed programs that are specifically designed to positively impact our customers’ cash flow. Working to drive efficiencies through the expired product process, we are examining the entire process from ordering to returns. That way, we can provide our customers with an action list of items that can help them reduce waste and receive credits for any expired products. Through our Rapid Credit Program, we have developed a process that provides credit to our customers for pharmaceutical returns in as little as 14 days, allowing them to put those funds back into their healthcare system and focus on patient care instead of reconciling reports. By returning your pharmaceuticals sooner rather than later, you also eliminate the risk of the products decreasing in value. The program works with both our onsite and box and ship pharmaceutical return services, making the process minimally invasive to your workflows.
DSN: What does the future look like for the industry overall?
JS: The future of the healthcare industry is going to be impacted by a variety of factors, both from regulation such as DSCSA and increasing patient demand. A continued focus for Pharma Logistics will be to get cash back in our customers’ hands as quickly and fully as possible, so they can return those investments to the health system and patients. Working to connect back-end process efficiencies with front-end ordering and inventory management will also be a major focus for years to come.
Ultimately, we want to future-proof the success of our clients. The truth is that even when COVID-19 passes, the healthcare industry will not return to business as usual. While this specific pandemic was unexpected, it highlighted critical flaws in the way that many businesses operate. Moving forward, success will be determined by focusing on services and revenue streams that can still thrive no matter what happens.