Welcome to this weeks’ edition of i2P (Information to Pharmacists) E-Magazine dated Monday 8 June 2015.
This week we continue to look at marketing approaches and competition that will be disruptive to all of pharmacy unless pharmacy leaders step forward and repair the holes in the fabric of pharmacy.
These are not small holes…they are major rips and tears that will continue to exacerbate until pharmacy leaders create more unified policies.
Nearly all of the major problems in Australian pharmacy have a solution, but it does require some displacement or adjustment by each leadership group.
The main problem emerging for retail/community pharmacies is the re-emergence of Roger Corbett – ex chairman of Woolworths and current chair of Fairfax newspapers (but with a resignation pending at the Fairfax AGM in August this year), who also holds a directorship with major retailer Walmart, (that controls a large pharmacy market share in the US).
He is director for strategy and finance and has been intimately involved with their new model of business – a primary health whole of store integrated model developed over the last decade, and piloted over 2014.
Coincidentally, Woolworths currently find themselves with a decline in market share and in need of an updated business model to see them through to future endeavours.
Major Woolworths shareholders have asked Roger Corbett to consider coming back, and while there is no official confirmation, most insiders agree that it is an opportunity he would find hard to refuse.
Why would he not use the business model developed for Walmart adapted for Australian conditions?
The model is liable to be able to reduce primary health care costs and not rely on government funding (at least initially), so it is likely to be endorsed by the current government who has coincidentally inflicted more pharmacy reviews using the 6CPA.
Roger Corbett has unfinished business with Australian pharmacy, and this time around he may have all the political and marketing drivers on his side.
Woolworths and Walmart already have a working relationship.
6CPA will last for five years.
Woolworths will take approximately five years to bring on its Walmart hybrid.
So work out the process on your own timeline and what you will do to counter this new form of competition.
Read the story Walmart Is Rolling out a Primary Health Care “whole of store” Concept
Because the starting point for pharmacy repair lies in the education and training providers, they have to first overhaul their content and perspectives and deliver excellence in their standards.
Not just “above average” but a transformation to positivity and excellence.
We have elaborated on this concept in an article titled Pharmacy Needs Education & Training – Who will fill this need?
This article describes how the US SEALS transformed aspects of their training to achieve a degree of excellence in outcomes never before reached.
Barry Urquhart has been doing some market research on the Dunning-Kruger effect which involves unskilled individuals with a tendency to exhibit illusory superiority.
I guess you find these people in politics, bureaucracy, in the media and many other areas where pharmacy critics live.
It helps to explain why these people do the things they do.
Read: Marketing Focus: 1. Dunning Kruger Effect 2. Modern Retailing 3. A Sustainable World
Judy Wilyman is back with more evidence of media bias in reporting vaccine information that adds to the general confusion surrounding vaccine issues;
Read: Biased Reporting on the ABC Breakfast Program
Chris Foster, our pharmacy-knowledgeable accountant and writer, talks about business disaster plans and whether you have made one.
It may be one of those jobs that you have put aside for one of those quiet moments, but I think those moments have disappeared completely.
Better you make the time and prepare one, starting with reading the article written by Chris.
Go to Do You Have Disaster Recovery Plan For Your Business?
Kay Dunkley has sent us some details on the Pharmacist Support Service,and because of their expanding clientele are in need of more donations (which are tax deductible).
Read about how you can help at “I never thought I would need to call PSS…..”
8 June 2015