The Business of Pharmacy Podcast™

In this insightful podcast episode, pharmacist Marwa from Canada joins Mike to delve deep into the concept of disruption in the healthcare sector. They navigate the challenges and benefits of incorporating innovation, explore the role of external consultants, and discuss the significance of change management across various business environments. Main Points: The Impact of Genuine Disruption in Healthcare: Marwa and Mike discuss the importance of bringing meaningful and significant changes in the healthcare sector beyond superficial adjustments or buzzword usage. Balancing Stability and Exploration in Professional Growth: The conversation delves into the restlessness many professionals experience for growth, the balance between stability and exploration, and the significance of continuous learning and self-discovery. Harnessing Transferable Skills and Exploring New Opportunities: Marwa shares her journey from pharmacy to business, emphasizing the value of recognizing transferable skills and the need for pharmacists to be open to new opportunities beyond traditional roles. Quotes: Marwa: "True disruption involves making significant changes and not just rearranging things superficially or making empty claims." Mike: "I have this idea where I would spend 20 minutes at a business and give them a list of 10 things they could change to improve their operations. It's about the concept of fresh eyes." Marwa: "Sometimes, I find joy and passion in my profession and career. It's exciting to continually seek new possibilities, blurring the line between anxiety and excitement." https://www.agatemedcare.ca/ Connect with Mike: Instagram:⁠ https://www.instagram.com/bizofpharmpod/⁠ Facebook:⁠ https://www.facebook.com/BizOfPharmPod⁠ YouTube:⁠ https://www.youtube.com/c/TheBusinessofPharmacyPodcast⁠ Twitter:⁠ https://twitter.com/bizofpharmpod⁠LinkedIn:⁠ https://www.linkedin.com/company/bizofpharmpod⁠ Website:⁠ https://www.bizofpharmpod.com⁠ Loved this episode? Leave us a review and rating here:⁠ https://www.bizofpharmpod.com/reviews/new/⁠

In this episode, we host Ed Ullman, CEO of Wellness RX, who sheds light on the struggles of independent pharmacies. He proposes transforming for-profit pharmacies into nonprofit entities, focusing on community well-being and sustainable operations. https://www.wellnessrxllc.com/ Key Points: Quotes: Connect with Mike: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/

In this podcast, host Mike Koelzer and three individuals from Zillspace - Zach Chirico, Sebastian Endicott, and Aaron Hannah - discuss how their company helps independent pharmacies grow their business by serving as an outsourced sales and marketing team, building relationships with physicians, and utilizing a combination of in-person and remote meetings. https://www.zillspace.com/ Connect with Mike: Instagram:⁠ https://www.instagram.com/bizofpharmpod/⁠ Facebook:⁠ https://www.facebook.com/BizOfPharmPod⁠ YouTube:⁠ https://www.youtube.com/c/TheBusinessofPharmacyPodcast⁠ Twitter:⁠ https://twitter.com/bizofpharmpod⁠LinkedIn:⁠ https://www.linkedin.com/company/bizofpharmpod⁠ Website:⁠ https://www.bizofpharmpod.com⁠ Loved this episode? Leave us a review and rating here:⁠ https://www.bizofpharmpod.com/reviews/new/⁠ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at⁠ https://www.bizofpharmpod.com⁠

Mike Koelzer interviews Mike Zaccaro, CEO of Pharma Logistics. They discuss various aspects of pharmaceutical reverse distribution. Some of the topics covered: https://pharmalogistics.com/ Connect with Mike: Instagram:⁠ https://www.instagram.com/bizofpharmpod/⁠ Facebook:⁠ https://www.facebook.com/BizOfPharmPod⁠ YouTube:⁠ https://www.youtube.com/c/TheBusinessofPharmacyPodcast⁠ Twitter:⁠ https://twitter.com/bizofpharmpod⁠LinkedIn:⁠ https://www.linkedin.com/company/bizofpharmpod⁠ Website:⁠ https://www.bizofpharmpod.com⁠ Loved this episode? Leave us a review and rating here:⁠ https://www.bizofpharmpod.com/reviews/new/⁠ Please support The Business of Pharmacy Podcast™ by visiting ⁠ https://www.bizofpharmpod.com⁠

In this episode, Mike Koelzer sits down with Wayne Glowac, the owner of Orion Marketing, to discuss effective marketing strategies for pharmacies. They cover a wide range of topics, from developing a strategy based on a clear vision and mission to building relationships with physicians and leveraging online platforms. wayne.glowac@gmail.com

In this episode, we sit down with Wendy Barnes, CEO of RxBenefits, to discuss the challenges faced by self-insured employers in managing pharmacy benefits. Barnes shares her insights on the difference between PBOs and PBMs, the complexities of managing pharmacy benefits, and the importance of pharmacists in the healthcare system. Here are 10 points covered in this episode: Pharmacy benefit optimizers (PBOs) help smaller to mid-sized self-insured employers manage their pharmacy benefits. PBOs and pharmacy benefit managers (PBMs) have different roles and responsibilities. Self-insured employers face financial pressures and the complexity of managing pharmacy benefits. The big three PBMs extract high rates year over year, but the industry is moving towards a cost-plus environment. RX Benefits offers a one-year contract model to account for market changes. Misinformation is a challenge in the industry, and transparency is critical in negotiations. A small team of decision-makers engages with PBMs directly, emphasizing the need for accountability on both sides. Providing a comprehensive approach to managing pharmacy benefits and a single member service center can simplify the process for employees. A supplemental stop-loss product can help smaller employers cover specialty medication costs. Pharmacists are essential in the healthcare system and have become increasingly relevant during the COVID-19 pandemic. https://www.rxbenefits.com/ Connect with Mike: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpodLinkedIn: https://www.linkedin.com/company/bizofpharmpodWebsite: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/

In this episode, Jamie Wilkey, a PharmD, discusses the importance of taking action and creating, even if it means being uncomfortable at first. She emphasizes the need to make consistency a daily habit and set achievable goals to track progress. Jamie also talks about her passion for coaching and inspiring healthcare professionals to invest in their own brand. She explains how she partnered with business professionals to scale her company, Wealthy White Coats, and create compelling offers. Finally, Jamie shares her experience of selling her company and building a sellable business, emphasizing the importance of having a plan for the future. https://wealthywhitecoat.com/register-live Some key topics: Letters after name outdated Consistency crucial for success Start creating, even poorly Put yourself out there Create, don't consume Long-term sustainable activities Partner with professionals to scale Building a sellable business Creating a professional brand Learn from online resources. Connect with Mike: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpodLinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/

In this podcast episode, host Mike Koelzer and guest Brooke Griffin, a pharmacist and professor of pharmacy practice, discuss the importance of soft skills, self-awareness, and effective listening in various contexts, including healthcare, leadership, and personal relationships. Connect with Mike: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.

Ned Milenkovich discusses his passion-driven career in drug and pharmacy law, emphasizing the importance of cultivating relationships, trust, and networking through various platforms and associations, while sharing insights on marketing, mentorship, and personal growth Ned Milenkovich intro [00:00:25] Cultivate relationships [00:01:10] Trust in connections [00:02:55] Passion-driven career [00:03:40] Attorney marketing challenges [00:05:55] Alternative career question [00:07:25] Logistics/distribution answer [00:07:55] Early career experiences [00:08:25] Supply chain importance [00:10:10] Surrounding with intelligence [00:10:25] Attending conferences [00:11:25] Giving back/mentoring [00:14:40] Pharmacist bond [00:17:40] Publishing vs LinkedIn [00:19:10] Rx Village concept [00:20:55] Rx Village marketing [00:21:10] Law firm transition [00:21:55] Self-initiated marketing [00:22:25] Early Rx Village tools [00:23:10] LinkedIn networking [00:24:25] https://www.muchlaw.com/ Connect with Mike: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.

Episode Summary: In this episode, host Mike Koelzer speaks with Blair Thielemeir, the founder of Pharmapreneur Academy, about the future of pharmacy and overcoming self-limiting beliefs. They explore the need for pharmacists to adapt and evolve, embrace entrepreneurship, and take a proactive approach to patient care. Additionally, they discuss the importance of mental health support and the challenges faced by pharmacists in balancing their personal and professional lives. Key Topics: Introduction of Blair Thielemeir and Pharma Printer Academy -The evolving role of pharmacists in the healthcare industry -Overcoming self-limiting beliefs and embracing the "pharma entrepreneur" mindset -Importance of market research and engaging with target audiences -Addressing underlying patient issues, such as mental health and self-worth -The impact of technology and innovation on the pharmacy profession -Discrepancies between pharmacy education and real-world practice -Strategies for pharmacists to create new opportunities and forge new paths -Mental health challenges faced by pharmacists, including anxiety, depression, and burnout -Personal experiences and the importance of seeking professional help - Overachieving, people-pleasing, and perfectionist tendencies in pharmacy -Setting boundaries and focusing on personal goals and interests -Conclusion and key takeaways Elevate Pharmacy Summit Connect with Mike: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpodWebsite: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.

Book: Lawfully Addicted: Chain Pharmacy's Role in Our Opioid Epidemic | Ray Carlson, R.Ph., Author Connect with Mike: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.

Host Mike Koelzer speaks with Joey Dizenhouse, an actuary and PBM expert at HealthTrust, about the intricate relationships between PBMs, pharmacies, and plan sponsors Negotiation requires leverage, subject matter expertise, and tenacity Joey explains his role in negotiating master agreements between PBMs and the entity with their insurance plan, ensuring the incentives of the PBM align with the best interests of the plan and its members Negative impact of choosing brand name drugs over cheaper generics on pharmacies Importance of preserving competition in the industry to ensure consumers receive the best value Delays in launching generics and biosimilars can impact plan sponsors Rising cost of pharmacy expenses and the need to stay ahead of the curve to protect against future increases Factors that contribute to the rising cost trend in pharmacy, and how good contracts with PBMs can provide flexibility while educating prescribers and patients about the cheapest available drugs Importance of a medical exception process to ensure access to expensive medications Communication between PBMs, patients, and healthcare providers is crucial Role of pharmacists, brokers, and consultants in navigating the complex world of PBMs. https://healthtrustpg.com/ Connect with Mike: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.

In this podcast, host Mike Koelzer interviews Leanna Gantt, inventor of tooktake Dosage Reminder Labels. Leanna shares her personal experience of creating the product to help people keep track of their medication and the challenges she faced in bringing it to market. The conversation covers topics such as medication adherence, gamification, and the financial and personal struggles of starting a business. Join us as we dive into the fascinating story of tooktake and its creator. https://tooktake.com/ Connect with Mike: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com

Description: In this episode of the podcast, host Mike Koelzer talks to Kyle McCormick, a pharmacist and owner of Blueberry Pharmacy, about the future of pharmacy pricing. They discuss the evolution of the cost-plus pricing model in the pharmacy industry and how it has simplified pricing for patients. They also discuss the challenges faced by independent pharmacies in competing with larger companies, such as Mark Cuban's pharmacy, and the importance of communication and customer service in attracting and retaining customers. Episode Highlights: https://blueberrypharmacy.com/ Connect with me: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.

Podcast Show Notes: Overall, the podcast provides insight into the complex relationships that exist between primary and secondary wholesalers and independent pharmacies, and the strategies used to maintain these relationships in the pharmaceutical industry. https://www.capital-drug.com/ Connect with me: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.

In this episode, Navid, the CEO of three innovative healthcare companies, sits down with Mike to discuss the power of AI in revolutionizing the medical industry. With a background in finance and law, Navid co-founded CureMetrix and CureMatch, which use AI and machine learning technology to improve cancer detection and treatment. The American Medical Association recently recognized CureMatch, making it the first of its kind in providing augmentative intelligence to oncologists. Navid and Mike delve into the benefits of using chat GPT in healthcare, including the automation of repetitive tasks and the ability for healthcare professionals to focus on more important things. They also discuss the role of AI in clinical trials and how it can improve patient care. Navid believes that AI will not replace doctors, but rather enhance their abilities to make more informed therapy decisions. The ultimate goal of using AI in healthcare is to make cancer a manageable condition and improve overall health through early detection. Tune in to learn about Navid's background and the exciting work he is doing in the field of AI and healthcare. https://aimedglobal.com/ Connect with me: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com

Tim Ulbrich, CEO of Your Financial Pharmacist and host Mike Koelzer discuss the impact of technology on the pharmacy profession, financial wellness for pharmacists, and the future of education, and how it may be disrupted by the rise of technology and alternative education options. Show Notes: Connect with me: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com

Nate Hux, R.Ph. is a pharmacist who runs a dual pharmacy system, where one pharmacy is inside the traditional healthcare system and the other is outside of it, He believes that this system allows for greater transparency for customers and helps them understand the costs of their medication. https://www.freedomrxohio.com/ Nate Hux, R.Ph. is the owner of two pharmacies in Pickerington, Ohio: a traditional pharmacy called Pickerington Pharmacy and a direct-to-consumer pharmacy called Freedom Pharmacy. Hux became frustrated with the corporate chain pharmacy system and decided to open his own pharmacies to offer more transparency and lower prices for customers. Freedom Pharmacy is especially beneficial for those with high deductible plans or Medicare Part D, as the copays for generic medications can be much lower and it also helps them avoid hitting their donut hole as quickly. The speakers discuss the challenges of running a pharmacy and how the pricing of drugs affects their business. They mention that by separating their businesses, they can make different rules and standards at each pharmacy. The host, Mike Koelzer, brings up the topic of no-compete clauses and how large pharmacy chains often require them. Nate Hux, R.Ph. notes that he would not be able to sell his pharmacy if he were to sign such a clause, and that he would likely just close Pickerington Pharmacy and transition all those customers to Freedom Pharmacy if it were to fail. Nate Hux, R.Ph. wants to continue working in the pharmacy and helping customers, but also wants to spend more time traveling with his wife and spreading the gospel of how community pharmacists can make a positive impact on people's lives. He also mentions that he hopes to be less involved in the day-to-day operations of the pharmacy in the future, and potentially out of the insurance headache altogether. Connect with me: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.

Summary: Patrick Lot, an executive and leadership coach, is discussing the gap between the expectations of employees and the reality of what is seen in the workplace, specifically in the field of pharmacy. He discusses the importance of investing in staff and creating a culture of trust and accountability within the organization. Contact Information: Email: patrick@sandpstrategies.info Connect with me: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.

Show Notes: Tyson Clark of MotherofSkill.com, discusses the importance of assertiveness in developing leadership skills and enriching relationships He believes assertiveness is often confused with aggressiveness Discusses how passiveness and aggressiveness can be blended together for effective communication Mentioned his unique perspective on the topic as he has traveled and has friends from different cultures Believes assertiveness is important in understanding and navigating unwritten cultural rules Discusses the importance of assertiveness in real-world interactions and how social media and the internet contribute to division and anxiety in interacting with others in person Mentions his background in developing a training app to help people assert themselves in various situations Discusses the importance of assertiveness in dealing with problems in relationships and in business, such as passive-aggressive behavior, gossip and backstabbing that can infect a team. Discusses the importance of being assertive in both personal and professional settings, and the need to be able to have difficult conversations in order to maintain healthy relationships and successful businesses. Mentioned the importance of practicing assertiveness, and how using technology like a phone app can be helpful in this regard. Discusses the importance of being aware of one's own desires and boundaries in order to improve assertiveness skills. Discusses the importance of being aware of one's strengths and weaknesses and the importance of good communication and setting appropriate boundaries in order to maintain healthy relationships. Discusses the importance of not being too aggressive and how it can be detrimental to relationships in the long run. Discusses how bottling up emotions and not addressing problems in a relationship can lead to a bigger problem in the long run. https://www.motherofskill.com/ Connect with me: Instagram: https://www.instagram.com/bizofpharmpod/ Facebook: https://www.facebook.com/BizOfPharmPod YouTube: https://www.youtube.com/c/TheBusinessofPharmacyPodcast Twitter: https://twitter.com/bizofpharmpod LinkedIn: https://www.linkedin.com/company/bizofpharmpod Website: https://www.bizofpharmpod.com Loved this episode? Leave us a review and rating here: https://www.bizofpharmpod.com/reviews/new/ Please support The Business of Pharmacy Podcast™ by checking out our sponsors at https://www.bizofpharmpod.com.