Welcome to the Dispense Times Podcast — your go-to source for the strategies and insights shaping the future of independent pharmacies. In this episode, Jason sits down with Ben Coakley from Waypoint Strategic Advisors to explore Waypoint's evolution, the powerful "Every Dollar Counts" campaign, and how pharmacies can take charge of their financial success.
Waypoint's Journey: From Wealth Management to Pharmacy Advocacy Ben traces the history of Waypoint Strategic Advisors, founded in 2010, with roots extending back to 1975 through his father’s firm, Richard E. Coakley and Associates. Initially focused on wealth management and 401(k)s, Waypoint naturally pivoted to serving pharmacies — a shift driven by strong client relationships and tailored coaching programs. Thanks to word-of-mouth referrals, particularly from dedicated client Julian Reynolds, Waypoint’s pharmacy services have grown to reach all 50 states.
Empowering Pharmacies: The "Every Dollar Counts" Campaign A key highlight of the discussion is Waypoint’s "Every Dollar Counts" campaign — a bold initiative aimed at helping pharmacies cut unnecessary costs like credit card processing fees and insurance expenses, ultimately boosting cash flow. Ben reveals plans to roll out this program nationwide by summer, offering pharmacies a financial lifeline when they need it most.
Medicare Agency Program: Unlocking New Revenue Streams Ben delves into Waypoint’s Medicare Agency program, a game-changer for pharmacies. This program opens multiple revenue streams — from earning commissions on insurance plans to creating jobs for technicians. By guiding patients to the right plans, pharmacies strengthen their bottom line and deepen ties within their communities.
Mastering Pharmacy Licensing and Strategic Growth Jason and Ben tackle the often-daunting process of pharmacy licensing. Ben emphasizes the importance of focused effort, encouraging pharmacy owners to approach growth strategically — concentrating on one initiative at a time, such as launching long-term care at home programs, to drive meaningful results without feeling overwhelmed.
Integrating Pharmacy and Insurance: Building a Seamless Workflow Navigating the intersection of pharmacy and insurance operations can be complex. Ben highlights Waypoint’s role in simplifying this process — from licensing and agent development to crafting effective marketing strategies. The secret to success? Scalable workflows and a mindset open to innovation.
The Heart of Independent Pharmacies: Personalized Patient Care In a heartfelt moment, Ben shares how his grandfather's struggles with medication mismanagement underscored the vital role independent pharmacies play in providing personalized care. Jason adds his own story — recalling how an independent pharmacist once caught a misdiagnosis in his son’s diabetes treatment. Together, they reaffirm the irreplaceable value local pharmacies bring to their communities.
Taking on PBMs: Fighting for Pharmacy Independence The conversation shifts to the ongoing battle against Pharmacy Benefit Managers (PBMs). Ben highlights Arkansas’ HB 150 bill, designed to prevent PBMs from owning pharmacies and steering patients their way. They discuss the broader implications of this legislation, offering hope for systemic reform.
Transforming Pharmacies into Medicare Powerhouses Jason and Ben spotlight inspiring stories of pharmacies that have saved patients thousands by becoming Medicare agencies. This innovative model not only increases pharmacy revenue but also creates jobs and fuels community growth. They encourage pharmacy owners to embrace this strategy as a way to serve patients better while securing their financial future.
Strengthening Marketing Strategies: A Collaborative Effort To close the episode, Jason and Ben discuss the future of Waypoint’s marketing. From launching consistent email campaigns to ensuring proactive follow-ups, they outline a blueprint for impactful outreach that keeps pharmacies connected and informed.
Join the Movement: Secure Your Pharmacy's Future Are you ready to take control of your pharmacy’s financial future? Tune into the www.DispenseTimes.com Podcast and connect with Waypoint Strategic Advisors. Together, let’s navigate the evolving pharmacy landscape with confidence.
Stay informed. Stay empowered. Every dollar counts.
