Q A QUARTERLY PUBLICATION FOR AMERICAN ASSOCIATED PHARMACIES MEMBERS, ASSOCIATES, SUPPLIERS AND STAKEHOLDERS

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1 Q A QUARTERLY PUBLICATION FOR AMERICAN ASSOCIATED PHARMACIES MEMBERS, ASSOCIATES, SUPPLIERS AND STAKEHOLDERS American Associated Pharmacies and its subsidiaries AllyScripts, Arete Pharmacy Network, and Associated Pharmacies, Inc. is a national, member-owned and directed cooperative of independent pharmacies.

2 2 VO1CE Q AAP 2019 Annual Conference April 11-13, 2019 San Antonio, TX REGISTER NOW Register Now at AAPConference.com! Enjoy San Antonio, Texas! From attractions like The Alamo to the cafes and shops on the River Walk, it s no wonder why San Antonio is a popular city. Enjoy the conference in an extraordinary location with fellow independent pharmacists from all across the country! Here you ll have many opportunities to gain actionable takeaways from sessions that dive into the independent pharmacy industry. AAP Annual Conference speakers range from in-house AAP experts to industry leaders. - Several CE hours available - Network with peers and share best practices - Listen to renowned speakers - Discover vendors that can boost your bottom line - NEW! Earn 2% API generic credit for 12 months worth of purchases!* *Some restrictions apply. Visit AAPConference.com for more information. SAVE $50! Register BY JAN 31 THURSDAY ACTIVITIES Golf Outing at The Quarry Golf Club 7:00 AM - 2:15 PM Take Your Best Shot! Clay Shooting 8:15 AM - 12:15 PM Natural Bridge Caverns & Canopy Challenge 8:45 AM - 2:30 PM San Antonio City Tour 10:15 AM - 1:15 PM KEYNOTE SPEAKER: Sally Hogshead Different is Better than Better: Captivate Your Customer to Win in a Crowded Market Drawing upon her branding expertise, Sally Hogshead created a method to identify how each person is able to captivate their listeners. The Fascination Advantage is the first communication assessment that measures how others perceive you. After researching over one million professionals, her algorithm can pinpoint your most valuable differentiating traits.

3 VO1CE VO1CE Q Emily Harris Director of Marketing emily.harris@rxaap.com Rob Bowman Vice President of IT rob.bowman@rxaap.com AAP is always striving to provide the best solutions for our members. Here is a snapshot of what to expect in the upcoming months. AAP n a N I W ir t! h s t r e memb Be one of the FIRST 10 MEMBERS! Visit rxaap.com/shirtwin to enter to win. NEW! AAP Member Referral Program! We often hear from Members that AAP has improved their profitability as an independent pharmacy. Now, be rewarded when you tell your friends what AAP can do for them! You can earn $1,000 in API Warehouse credit if a store you refer joins AAP as a member within six months.* *Subject to terms. See page 8 for more information.

4 4 VO1CE Q ACTIONABLE DATA MEANINGFULFUL REPORTING SIMPLE AND INNOVATIVE ProfitAmp, available exclusively to AAP members, is a comprehensive business intelligence tool that delivers a deeper look into pharmacy operations. This includes an analysis of dispensing data through the Pharmacy Management System to identify key dispensing trends, missing patients and income opportunities. AAP s new tool, provided through our partnership with FDS, allows you to unlock the power of your own data to Enhance Profitability, Streamline Operations, and Improve the Quality of Patient Care. ACTIONABLE DATA Identifies top areas of improvement through Key Performance Indicators Emphasizes quick win opportunities for valuable improvement Allows you to drill into reports and filter and sort data to identify areas of greatest opportunity Compares the performance of your store or group of stores to preset goals across important metrics MEANINGFUL REPORTING Provides robust business intelligence and analytical reporting to help you grow and manage your pharmacy business Highlights important areas of the pharmacy business through daily reports Allows you to receive many of your favorite reports via according to a schedule that meets your business needs Optimizes profitability and business growth through greater claims, product, and patient-level visibility Enhances Star Ratings performance through elevated awareness of medication adherence, refill frequency, and quality performance SIMPLE AND INNOVATIVE Leverages easy-to-use interactive dashboards Enables you to create customized ad hoc reports through simple filters Fosters powerful business insights to enhance your pharmacy s impact on patient care, while improving profitability RxAAP.com CONTACT YOUR TERRITORY MANAGER TODAY TO GET STARTED.

5 VO1CE Q ACTIONABLE DATA MEANINGFUL REPORTING 5 SIMPLE AND INNOVATIVE QUICK REVENUE WINS with the Refills On Time Report See the timeliness of your patients refills in the last seven days, or if they missed their refill. Get the most out of ProfitAmp s most successful and widely used report. Follow Up On Missed Fills Highlight Other Pharmacy Services Boost Fills & Profit Daily Accessing and Using the Refills on Time Report From the Pharmacy Snapshot: click on the widget to drill into the detailed report One Pharmacist s SUCCESS with ProfitAmp o Easily update the parameters at the top to show only Maintenance Medications, focus on only those medications that impact your Star Ratings, select a particular age group, or identify only those patients with two or more No Fill prescriptions. o Sort the report by highest profit so you can focus your efforts on the patients that potentially have the greatest impact on your revenue. o Export and print the report for staff members who may not have access to ProfitAmp. Pharmacist andno AAP Member Harrell, From the OpportunityFrom Queues: choose the Fill Board Opportunity TypeJeff filter when asked about the biggest benefits of ProfitAmp: o The Opportunity Queues make it easy to identify and recoup lost profit due to No Fills. o Queues are prioritized by highest profit first so you can easily address those patients that ThetoSold a Lossline. and U&C reports have helped me dial in my true will bring the most benefit yourat bottom costs my system details, and identify betterlast purchasing WeThe call o Click Show More to see theinprescription including Fill Date options. and Profit. patient s phone numberthe and date of from birth the are refill included so youevery don t week, have toand toggle patients reminder thisbetween has ProfitAmp and your pharmacy system. increased script volume and compliance. The latest report I have o As you work through thefound Queues, records the RxRate # and, is and ProfitAmp love is Reimbursement By when Plan. Ithe wasprescription able to identify refilled, ProfitAmp calculates your outreach. a planthe thatassociated was payingprofit lowergenerated than our by contracted rate. The profit report dashboard is cool for a quick glance as well. I can go on and on how valuable ProfitAmp is...the capabilities with the data is unlimited. CONTACT YOUR TERRITORY MANAGER TODAY TO GET STARTED. Jeff Harrell, AAP Board Member MembersTrustAAP@rxaap.com RxAAP.com For 3 pharmacies, results using ProfitAmp compared to same month the previous year: $4.59 increase in profit per script 13% increase in overall revenue 714 more scripts filled GET STARTED with ProfitAmp today to see results of your own.

6 6 VO1CE Q Are You There, Pharmacy? It s Me, Mobile Being where consumers need you in a smartphone dominated world. Do you know how your patients and customers find you? As an independent pharmacy, you may be accustomed to relying on word-of-mouth or local directories for references. These are still valuable tools, and nothing will ever top receiving a referral from a friend. However, smartphone users today are increasingly reliant on quick, concise answers from their devices. They consult them dozens of times per day when seeking more information about things they need to know, buy, or do. Smartphone users today are increasingly reliant on quick, concise answers from their devices. In these moments, when consumers pick up their devices to find a specific answer to a specific need, your pharmacy needs to be there to seize the opportunity. According to a report released by Google in September 2015, [these moments] are critical touch points within today s consumer journey, and when added together, they ultimately determine how that journey ends.

7 VO1CE Q % increase in searches for open + now + near me 600% increase in Can I/to buy + near me searches on mobile from In the two years following that report, Google saw a 200% increase in searches for open + now + near me and a 600% increase in Can I/to buy + near me searches on mobile. They also found that 90% of smartphone users don t have a specific brand or store in mind when they make these searches. This means if your pharmacy s information climbs to the top of the search engine ladder, you are much more likely to receive a visit from a possible new customer. How can you be there? Does your pharmacy have a website? Social media accounts? Are your contact information and location readily available via a quick Google search? Here are a few simple, actionable tips to help you be there when customers look for answers. Social media - Cultivate accounts on popular social media like Facebook, Twitter, and perhaps even Instagram or Youtube. - Stay active on these accounts, only run as many as you can maintain regularly, and respond quickly to interactions. - Offer useful and relevant content to your audience (articles, promotions, etc). Web - Have a website, and provide relevant content here too. Use keywords that customers would search for when looking for a pharmacy, items you sell, or services you provide. This will help you show up in search results. - Make sure your website is responsive and scales accordingly on mobile browsers. - Consider online ads to help boost your search result conversions. - Make sure images and other content on your website are optimized for fast loading (small file sizes and etc). Research has shown that for every second a web page fails to load, you risk losing 20% of the customers trying to give your site a chance. Any of these small things can help you be there when customers in your area look to their mobile browsers to solve a problem. Take action today, and don t leave these small but important opportunities sitting on the table.

8 8 VO1CE Q AAP Member Referral Program Call us at , visit RxAAP.com/referral or contact your territory manager today for more details! 6 Months Only! (Nov 1 - May 1) You tell US how AAP has improved your profitability. Now, be rewarded when you tell your friends. Earn $1,000 $1000! in API Warehouse Credit! * * Subject to terms. Recommendation valid if the prospective pharmacy joins AAP within 6 months from date of referral submission. API warehouse credits will only be issued to accounts in good standing with API. $1,000 API warehouse credit to be paid to recommending member once prospective pharmacy is activated as a member. API warehouse credit does not expire.

9 5 to reasons Invest in a By Meghann Chilcott, Senior Vice President OrderInsite, LLC VO1CE Q Comprehensive Inventory Management Solution Pharmacy inventory can be managed in an infinite number of ways. In its simplest form, pharmacies use the bottle sticker and notebook method. In its most advanced form pharmacies automate the entire inventory process except cycle counts. Regardless of how your pharmacy manages its inventory today, here are five points to take into consideration when determining how to improve your pharmacy s inventory. 9 Patient Retention 1 As healthcare providers, it is of the utmost importance to service the patient when they need medications. Not having medications in stock when they are needed may cause the patient to leave and seek another pharmacy or worse, delay necessary therapy until the medication is available. However, as a business owner, you must also take into consideration the cost of keeping too much inventory in stock. Managing to keep the exact amount of inventory needed can be overwhelming for a pharmacy. Using an inventory management solution that forecasts your patient demand daily will help ensure that when a patient arrives, the pharmacy has the medication in stock-based on historical trends, current patient utilization, and seasonality. Managing this manually would be more than difficult. In fact, given the amount of data and number of variables that need to be considered to properly forecast, it would be nearly impossible to be as precise as an application can be. 2 Cash Flow A pharmacy s inventory is its single largest investment, outside its people. Keeping the wrong medications in stock can result in stale inventory that can be a detriment to the success of the pharmacy. Utilizing sophisticated algorithms to determine correct purchasing ensures that you only order what the pharmacy needs and only when you need it. For example, if only one patient is on a medication, why purchase that medication a month before the patient needs it? The medication should be ordered right before the next fill, freeing up cash flow for other uses.

10 10 VO1CE Q Automating Purchasing Logic Applications that automate the selection of suppliers for drugs that are being purchased can be game changers. Manually managing multiple suppliers, including internal warehouses or purchasing groups can be a headache and take a significant amount of time and resources away from servicing patients. Using business rules to automate a pharmacy s purchasing behavior ensures that the pharmacy consistently purchases the right drugs from the right supplier. This ensures that you are optimizing purchase price and allowing the pharmacy staff to focus on patient engagement. 4 Managing Special Programs Such As 340B Pharmacists want the very best for their patients, but offering complex programs such as 340B can cause inventory to swell if not properly managed. Inventory management solutions automate the 340B purchasing process while keeping the inventory in the pharmacy maintained at the proper level. Imagine offering indigent care programs to your patients without worrying about the overhead associated with managing the inventory associated with the offering. 5 Suspicious Order Monitoring When utilizing multiple suppliers, the pharmacy incurs a risk that they may order too many controlled substances that may not correspond to their dispensing behavior. Each supplier has thresholds to monitor a pharmacy s controlled substance purchasing, but the supplier is unaware of any purchases made to other suppliers. Maintaining tracking across all suppliers gives a pharmacist peace of mind that if the DEA or Board of Pharmacy shows up asking for records that they can justify their purchasing, no matter how many suppliers they use.

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12 12 VO1CE Q American Associated Pharmacies 201 Lonnie E. Crawford Blvd Scottsboro, AL 35769