For the independent pharmacist, improving pharmacy profitability is the key to thriving in a highly competitive and ever-evolving industry.
The obstacles to improving pharmacy profitability are immense. Big box retail competitors and pharmacy benefit managers (PBM) are exerting downward pressure on drug prices, even as the cost of purchasing drugs is on the rise. DIR fees reduce profit margins even further, and ever-evolving regulation creates another level of pricing complexity.
In this environment, improving pharmacy profitability comes down to two factors: securing the best pricing on pharmaceutical products and managing the business with the utmost efficiency. Fortunately for independent pharmacies nationwide, H. D. Smith provides products, services and solutions to help on both fronts.
Improving pharmacy profitability with H. D. Smith.
H. D. Smith is the largest independent pharmaceutical wholesaler in the nation. For more than 60 years, we have been focused on helping independent pharmacies to better serve their communities and improve pharmacy margins by providing competitive pricing on products, exceptional customer service and value-added business solutions.
While the Big 3 distributors are ultra-focused on serving the big box retail accounts, our sole focus is improving pharmacy profitability for independent pharmacists. We offer highly competitive pricing on generic and brand drugs, as well as pharmaceutical supplies, home healthcare products, specialty medicines and consumer products. On our Good Sense 600+ items, for example, retail pricing is 30% below brand equivalents, delivering a profit margin of 40 to 60%.
Our generic portfolio, PharmaGen, offers another way of improving pharmacy profitability. As one of the most robust collections of generics in the market, PharmaGen provides access to the best possible value, availability, coverage and quality in generic pharmaceuticals – at highly competitive prices.
Business solutions for improving pharmacy profitability.
In addition to improving pharmacy profitability through competitive pricing, we offer a suite of business solutions that help to streamline operations and increase efficiency. Our offerings include:
- Retail solutions for independent pharmacy advertising, marketing and branding that help pharmacies compete with the big box retailers for script volume, front-end traffic and patient attention.
- Managed care services for more efficient management of financial, quality and operational aspects of the business, and that help to reduce DIR fees by improving metrics such as pharmacy inventory turns and pharmacy quality outcomes.
- Pharmacy technology, including order management software and flexible reporting options that help to enhance productivity, streamline processes and enable the business to operate with supreme efficiency.
Learn more about improving pharmacy profitability with help from H. D. Smith.
Robert Jacobson Surgical Pharmacy
Mount Kisco, NY
H. D. Smith customer for 35 years
“Inventory cant be beat, customer service is excellent, deliveries are dependable and returns are smooth. ”
Alennis Rivero, Pharmacy Tech
Steven's Rx LLC
H. D. Smith customer for 4 years
“All I can say is that I have great sales reps that provide nothing but the best to their customers. The accounting department is also great and always helping customers get the best possible service”
Never Too Busy to Help
H. D. Smith customer for 2 years
“No matter who I call and no matter how busy they are, I am always made to feel that I am the only thing that matters to customer service. Believe me, that goes way beyond the customer service of our previous suppler.”
“Customer service has always been wonderful – I speak to the same people every time who know me by name. I’ve never had a question or complaint that hasn’t been resolved in a reasonable amount of time.” - Kevin Sexton, PharmD, Co-owner, Danny’s Drugs
Danny's Drugs knows how to stand out and make an impact in its community.
Learn how it took the right business deal with a personal touch to solidify this rewarding partnership.
Team Member Spotlight
"Every day at H. D. Smith, I feel valued and respected. By far this is the best company I have ever worked for, and I cannot imagine ever finding a company that values its employees as much as H. D. Smith does.
With its strong core values, family feel and employee development, there really is no better place to work."