6 essential roles of successful pharmacy owners
Tools and resources to be more effective in every role
- As a pharmacist and small business owner, you fill multiple roles daily.
- These roles include provider, CEO, CFO, HR, marketer and lobbyist.
- Each role is critical to the health of patients and your business.
- You can be more effective by leveraging tools, experts and resources.
The demands of running a successful independent pharmacy can feel overwhelming.
Source: Pharmacy Times, September 16, 2016
The Roles of a Pharmacy Owner
Being a pharmacist and owning an independent pharmacy means playing multiple roles. Each role could be a full-time job. Fortunately, there are tools and resources to help you be more efficient and effective in every role.
Role: Healthcare Provider
This is the fundamental role of a pharmacist and is why you went into the profession. As a provider, you help care for patients. Whether your state law legally recognizes you as a provider, services like immunizations and MTM make you a key player in the healthcare system.
Most patients see their doctor a few times yearly but visit their pharmacy more than 30 times annually.1
As CEO, you set the strategy. A rule of business is that to be successful, you must work on your business, not just in it.
Tools & Resources: To lead your business as the CEO:
As CFO, you provide deal with your pharmacy’s finances.
Resources: You don’t have to be an expert on contracts when you have a PSAO like Health Mart Atlas. Take advantage of resources such as marketing funds or discounts on services such as McKesson Reimbursement Advantage to capture every dollar available.
Role: Head of HR
As head of HR, you lead the people who make or break your business.
Resources: Increase your technicians’ expertise with training and online courses through Health Mart University and the Pharmacy Technician’s Letter.
Role: Marketing Director
Your focus as the marketing director is to differentiate and grow your business. Marketing your business includes everything from signs to advertisements, and meeting with doctors in your community.
Tools & Resources:
You are the best and strongest advocate for your business. From the city council enacting sign ordinances to the federal government setting Medicare rules, the support of every level of government affects your ability to succeed.
Resources: By working with your state pharmacists’ association, your buying group and other organizations, you give pharmacists a stronger voice.
As the demands of owning a pharmacy pull you in multiple directions, you aren’t alone. Take advantage of tools and resources to help you in each role as you manage and grow your business.