Retail pharmacy business model
Retail Pharmacies Improve Rx Profit Margins – Demonstration of Financial Impact with New Drug Price Type
Listen to this complimentary webinar and learn through specific operational use cases the impact and savings drug price type Predictive Acquisition Cost (PAC) has for retail pharmacies. Also covered is how PAC’s adoption by other stakeholders benefits pharmacies and how it differs from other drug price types.
Retail pharmacy case studies
U&C (cash) pricing strategies
Grading out PBMs
Contractual performance guarantees on both the procurement and reimbursement side
PAC’s adoption by stakeholders benefiting pharmacies
Payers, PBMs, and Wholesaler use cases
Affects and comparison of acquisition cost surveys
Todd Grover, President & CEO, ChainDrugStore.net; Co-Founder, Glass Box Analytics
Mr. Grover has been working with pharmaceutical manufacturers, pharmacy benefit managers and pharmacy operators for the last 14 years. He is currently President and CEO of ChainDrugStore.net, a hosted software and communication platform that connects more than 300 pharmaceutical manufacturers, pharmacy benefit managers and wholesalers to pharmacies nationwide. Mr. Grover developed the original business plan for ChainDrugStore.net and served as its first Vice President, Technology Operations. In 2006, he coordinated the sale of ChainDrugStore.net to a strategic investor.
Mr. Grover is co-founder of Glass Box Analytics, a strategic joint venture between ChainDrugStore.net and Pathria Analytics. Through the combination of technology and domain expertise, Glass Box Analytics challenges the “status quo” to deliver innovative solutions to long standing, complex industry problems. In March 2012, Glass Box Analytics launched the Predictive Acquisition Cost (PAC), an estimate of the acquisition cost of a drug created from a multi-dimensional predictive analytics model. The PAC serves as a new drug-pricing standard for the pharmacy industry.
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Tupperware and Avon come to mind. I believe that AFLAC insurance is often sold through independent agents along this business model. They have been around for decades and are established companies with established product lines.
My grandmother was an Avon lady for 30 years and did reasonably well for herself. She didn't become independently wealthy or anything, but she made enough money at it to keep it up for three decades.
The business model makes sense. Rather than spend money on a traditional distribution system and cut your profits with a retail chain, why not cut your profits with individuals who will do much more to push your product than your distributor will? Makes sense
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