Smart Business Magazine, January 2016
20 Smart Business Columbus January 2016 The independent pharmacy used to be the rule not the exception But as the large chains scoop up market share the independent pharmacy industry is slowly getting eroded Its not an easy business You have to constantly be on top of things and it can kind of wear you down because you keep hearing day after day CVS bought this CVS bought that says Laura Atkinson president and CEO of Total Wellness Pharmacy and Wellness Center LLC Within the pharmacy industry there have been a lot of regulatory changes and some of the big players now have their own insurance Atkinson says that means they are actually able to audit their competitors who carry that insurance Also with health care reform more insurance goes through mail in companies like Express Scripts and patients dont have the freedom of choice She has found that in order to compete with national chains that simply fill Total Wellness Pharmacy finds its niche in a ruthless environment Surviving the competitionprescriptions through economies of scale its all about being unique As long as we provide a service that is different and needed well always be valuable Atkinson says Focusing in and out To find your niche in a competitive environment Atkinson recommends keeping abreast of trends and news I think a lot of it is just being really in tune with whats going on in your field and your industry on a deeper level aside from the day to day in your business she says For example under the Affordable Care Act theres a focus on prevention so Total Wellness is now able to bill for diabetes management services Keeping up with the law and regulation changes lets Total Wellness be proactive with its offerings Atkinson and her business partner Cathy Lopienski R Ph split up the duties so that Atkinson can focus on the broader picture network create relationships and get involved with government and industry entities She knows that the population as a whole is aging and noticed all of the independent and assisted living facilities being built as she drove around town With growth in the market but her marketing dollars not making a significant dent Atkinson looked for a better way As long as we provide a service that is different and needed well always be valuable LAURA ATKINSON PRESIDENT AND CEO TOTAL WELLNESS PHARMACY AND WELLNESS CENTER LLC FEATURE TOTAL WELLNESS PHARMACY AND WELLNESS CENTER LLC BY JAYNE GEST JGEST@ SBNONLINE COM SOCIAL MEDIA To learn more about Total Wellness Pharmacy and Wellness Center LLC like its Facebook page http on fb me 1LYWo5A and follow on Twitter @ TWCPharmacyRx
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