About Us: Case Studies
Pharmacy focuses on growth by focusing on compounding
A well-established, well-regarded pharmacy with a high prescription volume but also high operational costs was struggling
to make ends meet. The pharmacy had tremendous potential for growth, but was saddled with rising inventory and personnel
costs and decreasing reimbursement.
Gates Healthcare Associates reorganized this business, which was comprised of retail pharmacy, compounding pharmacy,
medical supplies, and natural medicine product lines, by creating a strategic plan that increased profitability.
Our plan established a business model based on profit centers. We provided the facilitation for the design and build-out of a state of
the art compounding pharmacy. We helped the pharmacy ensure full compliance with USP 795 and 797 and we worked with managers so that
it could receive the Pharmacy Compounding Accreditation Board (PCAB) accreditation for non-sterile and sterile compounds. We
assisted the pharmacy in its recruitment of validated professionals, and we designed a strategy, and then implemented it, for
four-fold growth in the compounding business.
Our strategic plan included a sale of the retail pharmacy department, the least profitable of the four product lines and the one
jeopardizing the business, with the proceeds being used to enhance the other lines.
Under the plan designed by Gates Healthcare Associates, each of the remaining departments has shown profitability and growth. Today,
the pharmacy is looking to enlarge each of its departments through in-house expansion or an additional location.
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