Community Leader Colton Marcum, PharmD | Pharmacy Crossroads

Colton Marcum, PharmD, took over ownership of Marcum’s Pharmacy, from his father, about 10 years ago. Marcum’s is a high-volume pharmacy and has a proud tradition of service to the residents of Kingsport, TN, since 1962. Still, as Marcum tells us on this episode of PharmacyCrossRoads the pharmacy’s work environment was hectic and constant reductions in reimbursement and DIR fees were taking a big chunk out of his profits. Joining Marcum on this podcast is Kris Rhea, now a representative of BIOLYTE, but formally Marcum’s wholesaler representative. The two of them go into some detail on how Marcum saw a need for improved workflow and how, by working with Rhea they made some remarkable changes. Marcum tells how implementing a medication synchronization program improved workflow, reduced inventory and improved relationships with prescribers in the community. To help with a total transformation of the pharmacy Rhea prepared a 12-step plan they used to turn the pharmacy around. First on the list, recognize that pharmacy is changing and the old way of doing things no longer works. One other big thing Marcum and Rhea did was schedule time to visit other successful pharmacies in the area and arrange an onsite visit. A list of the 12 Steps to Revamp and Re-energize Your Pharmacy, is available by emailing Bruce Kneeland at; BFKneeland@gmail.com Marcum says that in addition to improving work flow, pharmacies should also find ways to provide services and sell products that genuinely help people, are unique to them and generate an attractive profit margin. He has had success with nutritional and says one product that has performed well for him is Biolyte. This episode is sponsored by: BIOLYTE, a nutritional drink, sub titled IV in a bottle. See omnystudio.com/listener for privacy information. Learn more about your ad choices. Visit megaphone.fm/adchoices