Consulting Services That Helped Klingensmith’s Drug Stores
- Boost Profitability
- Enhance Team Performance
- Streamline Accountability
David Cippel’s Experience Working With American Management Services:
We would like to commend the work and efforts provided by your organization to Klingensmith Drug Inc., d/b/a Klingensmith’s Drug Stores over the course of the five months, and particularly the work of your senior consultants Bill Williams and Jon Kidd and the group manager, Anthony Branca.
With the help of American Management Services, we have put in place key tools and processes to increase profitability, team performance and establish employee accountability. With the results we are seeing, we have the confidence we will not only increase profitability, but most importantly establish the needed operational controls and accountabilities. At the beginning of the consulting project, we did not clearly and accurately know the true gross profit at each of our seven pharmacy locations as well as the different business segments in the stores and their relationship to overall profitability. We also struggled mightily trying to establish accountability across all segments of our pharmacy-centered business. With Bill, Jon and Anthony’s help and guidance, along with their candid approach to “tell it like it is” we now have a clearer understanding of our business.
Here are some of the key items that we have implemented:
- Enhanced the scheduling process of pharmacy labor to reduce overall labor costs and to effectively schedule pharmacy labor to the business flow of each pharmacy.
- Developed a pricing and costing system for all business segments to consider 340B and DIR fees.
- Developed a cash forecasting system tied to Sage.
- Reformatted the monthly-financial statements to more properly reflect the operations and financial results of the business by including an allocation of administrative overhead.
- Assisted in the development of real-time financial flash reporting system to track the key KPI’s relating to all key business segments and activities, and a system to hold all employees accountable.
- Developed, designed and implemented systems and processes to increase sales through the development of the website and social media, Enhanced Contract Services and other segments, i.e. moving qualifying Med-D patients to the Combo NPI category and implementing a strategy to grow Med-Sync patients to adherence packaging, thus increasing their MPR scores and reducing our DIR fees with the PBMs.
- Developed GP% standards to hit the PDP by pharmacy.
- Developed a meeting matrix and agendas for meeting quality standards.
- Developed the HR processes for employee reviews and evaluations and improvement plans.
- Developed a predetermined profit plan with clear focus on margin, expense, and bottom-line profit.
- Developed a pay-for-performance plan that keeps key employees engaged in achieving their objectives and my company’s goals.
We expect the work we have done on the project to benefit our bottom line by more than $5,951,201 over the next three years. Our expectations have been met in an effective and professional manner and we will be happy to recommend American Management Services to any prospective client.
Sincerely,
- Mr. David Cippel, RPh, President
- Klingensmith Drug Inc., d/b/a Klingensmith's Drug Stores
- (724) 763-1201
-
313 Ford Street
Ford City, PA 16226
