IRVING, Texas — McKesson RxOwnership, a no-fee resource for independent pharmacies seeking financial and ownership transaction guidance, signed a new five-year commitment with the National Community Pharmacists Association (NCPA) to sponsor the Pharmacy Ownership Workshop series. This renewed agreement lengthens the total commitment to nearly 15 years of sponsorship. RxOwnership is a complete and confidential partner when considering buying, selling or starting a community pharmacy.
Financial health consulting
With many pharmacies struggling to survive in the complex and rapidly shifting business environment of the pandemic and stay-at-home orders, RxOwnership is expanding its services to include financial review and consultation. The team of trusted advisors can help pharmacy owners interpret financial statements to identify pharmacy strengths and weaknesses, compare results to national benchmarks and determine areas of improvement. The team assists with setting business goals, developing action plans to achieve better results and evaluating operational performance to maintain the pharmacy’s financial health.
Pharmacy ownership webinars
RxOwnership will also host a two-part webinar series in 2021, offering tips and tricks to buying and selling a pharmacy from a team of experts with a collective 135 years’ experience in ownership transactions. Since 2008, the RxOwnership team has assisted more than 6,700 independent pharmacy ownership transactions.
- Ten Things to Keep in Mind When Buying a Pharmacy on Feb. 18, 2021
Buying an independent pharmacy can be one of the most rewarding experiences any entrepreneurially minded pharmacist or business owner will ever undertake. Being well prepared will dramatically improve chances of making an acquisition a great success. Attendees will learn ten key areas to keep in mind when buying a pharmacy in order to lead to a successful purchase.
- Ten Areas of Focus for a Successful Ownership Transfer on March 4, 2021
Owning an independent pharmacy business can be extremely rewarding. Yet, down the road there may come a time when you find yourself in a position of wanting or needing to sell your business. Whether retiring or transferring the pharmacy to the next generation, planning for the sale of a pharmacy is critical. Attendees will learn ten key areas that can help them get the maximum value for their lifetime investment.
Samantha Buck, PharmD, owner of Embrace Pharmacy shares, “To those who are on the fringe of deciding if ownership is the right move for them, I’d tell them that yes, it is terrifying, but it is the best thing I’ve ever done. It takes a lot of work, collaboration, and reaching out to your community, but it is completely worth the risk if you have the persistence
to do it right.” The North Dakota pharmacist contacted RxOwnership to assist in achieving her ownership goals. Embrace Pharmacy opened in 2017 and serves the Grand Forks community through services like immunizations and medication therapy management.
Committed to community pharmacy
In 2021, pharmacy ownership transfer has never been more complex. With pandemic-necessitated virtual interactions, the ownership transfer or pharmacy startup process may seem daunting. With that in mind, RxOwnership is committed to helping pharmacy professionals assess and maintain the pharmacy’s financial health as well as ensure the successful sale, purchase or transfer of independent pharmacies. While in-depth, years-long clinical training gives pharmacists excellent tools, it doesn’t always prepare them to own and manage a pharmacy business. The Pharmacy Ownership Workshop takes great pharmacists and equips them to be even better small business owners in a rapidly evolving healthcare industry.
“Despite the pandemic’s hit on small businesses, we have not seen a lull in interest in buying and starting pharmacies. Operating a successful pharmacy is complicated, even under the best of circumstance. So, we are proud to provide resources to help pharmacies and owners achieve their goals. We’re helping pharmacists get back to doing what they know and love – and that’s taking care of people.” said Chris Cella, national vice president of RxOwnership.