SPOTLIGHT
PURCHASING POWER How one pharmacy saves thousands on its cost of goods
W
hen Huy Duong, RPh, owner of Dale's Pharmacy in Fort
UNPRECEDENTED NEGOTIATING POWER
Lupton, Colorado, discovered ProfitGuard, he couldn't
With experience negotiating more than $5.6 billion in contracts
believe how long his business had gone without it. "What have we been doing all these years?" he asked. "It's like it opened our eyes." ProfitGuard catapulted Huy's pharmacy business by securing
for independent pharmacies, the experts at PBA Health guarantee contracts with better terms, rebates, and pricing. Besides bringing more than 30 years of pharmacy contract experience to the table,
him a lower cost of inventory and optimizing his purchasing on the
they also bid the pharmacies' business across multiple national
back end. "It really boosted our profit margins substantially, right
wholesalers to get a true market-competitive contract.
out of the gate," he said. "It was much more than I ever thought possible when enrolling in the program." Whether representing individual independent pharmacies or forming groups to leverage buying power, ProfitGuard manages
Huy said that for his group, ProfitGuard negotiators worked intensively with several wholesalers and through several revisions to secure a vastly improved contract for his pharmacy. "They went back and forth multiple times with competing wholesalers and
primary wholesaler negotiations to get pharmacies the best overall
listened to the wants and the needs of the ProfitGuard members
cost of goods. It also includes a proprietary purchasing optimization
in the group along the way," he said. "They made sure we received
tool that maximizes rebates and profitability every day to ensure
the best deal possible, leaving nothing on the table."
pharmacies are getting the full benefits from their contract. In a market plagued by decreasing reimbursements and
Without ProfitGuard's group purchasing power, Huy said he wouldn't have the leverage with wholesalers to get the cost of
growing consolidations, Huy said ProfitGuard is the best solution
inventory he requires to remain competitive. "There's no way I can
for sustainability and success. "It's the industry game changer for
stand alone, or for any member of our group to stand alone and
the independent pharmacy owner or operator," he said. "There's
get the deal we have collectively, together," he said.
nothing out there like it on the market."
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