Pharmacy Models: The Big 4
Growth and innovation fuel today’s pharmacy industry. Telehealth visits, internet pharmacies, mobile health apps, wearable devices and enhanced patient touchpoints are all transforming the industry. To succeed in this competitive environment that demands speed and precision, companies are seeking customizable, reliable distribution models that can flex to meet their needs, with infrastructure and processes already in place.
“HealthDyne is a flexible partner that can help get medication from the pharmacy to the people who need it,” says Brian Laird, President. “Central fill, mail order, specialty and a sublease within our pharmacy are the four models that we fulfill. Every day, we have conversations about these solutions and how they can help clients jump ahead of their competition.”
Newcomers to our complex business are surprised by the behind-the-scenes regulations, technology, legal and staffing requirements, and more involved in moving medication from the pharmacy to patients. “With central fill, clients are typically interested in cost reduction and positioning so that their clinical staff can focus on the patient experience,” Brian explains. “Typically, the client wants to avoid a substantial investment in equipment, inventory and staffing by utilizing our capabilities. Our central fill model allows them to tap into our operational expertise as we support large retail pharmacies, small independent community pharmacies and everything in-between.”
Our second model, Mail order, is an excellent solution for companies that don’t want or need to stand up their own pharmacies. The pandemic fast-tracked healthcare innovation at a speed no one anticipated, inspiring a new generation of healthcare entrepreneurs. A typical mail order client operates online with a medical staff to handle intake, initial consultation, prescribing and follow-up care. Patient retention is key in this business model. Behind the scenes, the client usually needs to be able to ship to all 50 states and wants us to manage their inventory in our pharmacy. HealthDyne leverages existing processes to get mail order clients up and running in record time.
The third pharmacy distribution model is specialty. We are proud to leverage the pharmacy of our operating partner, WellDyne, with its nationally recognized industry expertise. Specialty clients have unique needs, with some seeking our traditional, full-service program and others wanting to leverage fulfillment only, such as our cold chain capabilities. Still others need clinical programs or want us to handle patient engagement only with no dispensing. “Clients are attracted by our modern, specialty pharmacy in addition to our patient engagement tools that make it easy for patients to connect, share status and take an active role in adherence and condition management,” adds Brian.
The fourth pharmacy distribution model involves a sublease for a portion of our pharmacy space in Lakeland, Florida. In the past, we have had four additional pharmacies operating within our walls, allowing clients to leverage our expertise in managing a pharmacy. This model works well for clients who need to be licensed quickly.
“When companies come to us with an idea or a plan for rapid growth, HealthDyne has the flexibility to craft a solution that gets them where they need to be,” Brian explains. “Change and growth in the pharmacy industry doesn’t have to be expensive, complicated, cumbersome – or slow. By leveraging existing assets, infrastructure and technology, healthcare companies can easily grow and scale, creating a fast track to success.”
Find more details about our Big 4 pharmacy distribution models in our podcast.