Pharmacy U news

In the world of pharmacy leadership, the ability to navigate risks effectively is a crucial skill. Just like a ship captain charts a course through treacherous waters, pharmacy leaders must steer their teams and organizations through potential pitfalls.

Becoming involved in the field of dermatology for many of us can be intimidating. One of the areas in which a lot of dermatology patients will need help is formulas to treat hyperpigmentation.

Selling a pharmacy is a big life event, and it will impact your financial and emotional well-being for a long time to come. It is not a decision to be taken lightly, no matter how flattered you might be. So, if a buyer comes calling, step back and take a breath. Let the first flush of emotion pass.

Like many pharmacy manager-owners, I have conducted a few interviews in my time. Some were highly collaborative and resulted in all-stars still working strongly with us today. Other résumés turned into napkins or scrap paper.

The problem with pharmacy is that it is all practice. It is training without race day. The daily grind offers much of the same training as it did the day before. After a short time, we become jaded.

Selling a pharmacy can be a complicated, even daunting process. Legalese and accounting terms can get thrown around like spaghetti in a food fight, and even the most business-savvy pharmacist-owners can sometimes feel like they are caught in a tempest over which they have little control.

Embracing the business side of pharmacy goes beyond just maximizing profits; it also involves enhancing patient outcomes, healthcare systems, and the profession as a whole.

Many pharmacists are highly sensitive to risk. I would actually go so far as to say that pharmacists are largely risk averse. And for good reason. We hold people’s lives in our hands. If you have ever made a dispensing error, it sticks with you.

Important negotiations are about relationships, something pharmacists know a ton about. Each day we make friends with strangers needing health advice and tools to pair them with.

Taking the time to reflect and being open to learning business strategies will not only contribute to our overall success but also provides a greater appreciation for the intricacies of pharmacy.

In writing about the anecdotes and lessons offered by managing people, the business and the profession, I found seven recurrent themes, which I called the seven dimensions of the ideal pharmacy leader.

Over the years, I have had the privilege of addressing thousands of pharmacists and pharmacy students. While I have not shared this story for quite a while, I believe it is fitting for our consideration of courage.