Diversify & Increase Revenue with ConvaCare – Monthly Mastermind April 2024

Monthly Mastermind - April 25-2024

All Live Learning

Diversify & Increase Revenue with ConvaCare

Website: convacareservices.com
Contact Info: jsmoot@convacareservices.com

Transcription:
ll right. Well, let’s get started with our April monthly mastermind call. I’m very excited to have our guests convict care. And you many of you that were at the pharmacy profit summit probably talked to these guys. I saw their booth had lots of action. And Shane has been very active on LinkedIn showing all the pharmacies he’s visiting. I know you just read Ken Patel’s of pharmacy and got them on boarded. So you’ve visited a lot of our members of pharmacies over the last several weeks and months. And this is a really huge opportunity. I think a lot of times pharmacy owners just kind of overlook this respiratory medical equipment kind of area. You know, because it’s not it. You know, it’s not prescription drugs. It’s not drugs. It’s not chemicals. It’s not the things that we like, generally went to school for and what we’re talking about, but this is a huge market. And so like in the email that I sent out to the membership, you know, Sleep Apnea just on its own is over $18 billion a year. Like when I was doing a little bit of research like I did not even expect it to be that much like 18 billion Yes, with a B on there every year is what is spent on sleep apnea. Now granted lots. There’s lots of other solutions, but besides sleep apnea, but I swear to goodness, it’s becoming like the you know, diagnosis du jour of people. It’s like you I hear of not just personal friends, but professional friends. Like it seems like everybody’s getting diagnosed with sleep apnea these days. And there’s lots of reasons for that both the environmental, physical, you know, genetic and all those things. But this really is a huge opportunity for independent pharmacies, you already have patients coming to your store, and one of my biggest tenants believes is like, what else can you do for those patients? It’s those back end opportunities. How can you make each patient more valuable to your bottom line? In the process of taking better care of them. So if you can solve more of their problems, they’re going to love you more for it. They’re going to be more loyal to you for it, and they’re never ever going to want to leave you in terms of being your patient. So anyways, let’s get down to business and let’s start talking about its shame. I will go ahead and let you introduce you. And then you can kick it on over to Chris, and kind of just give an overview and then we’ll dive into the content.
Sure. Yep. So my name is Shane Smith. I’m the director of franchise sales for Compass care. been with the company for man almost 1112 years before ComCare actually worked for one of our franchise locations on the north side of Indianapolis. So I’ve kind of done the front side of it. And now I’m on more on the backside of it. So this is kind of the only thing that I’ve known since since college. So that’s a little bit about me. I’ll jump over to Chris now. Yes, so
Lisa thanks for having us. My name is Chris Lake. I’m with comic here. This is my 20th year with comic here. So very been very invested in the respiratory market as well as sleep apnea and everything that entails with that, as well as with all with all of our pharmacy locations, but just to give you a quick history of common care. Common care has been around since the late 60s. It was started by an independent pharmacist. This pharmacist, Wayne Robins in Bedford, Indiana. He’s the one that just like you said Lisa had patients coming in and asking questions at that time. It was walkers and Keynes how can they provide more services, more equipment than just prescriptions to their patients? How can they service their community? And so that actually continued to grow. And then once the the respiratory with sleep apnea became a little bit more proud, prevalent, as well as oxygen. That’s when they developed convict care. And at that time, they were just doing it on their own. They actually at that point, developed it into a franchise model which is what Kamakura is today. And so at that point, that’s when they were able to talk to other pharmacies, primarily in the state of Indiana, because that’s where they were, they were members of the board there, to be able to let them know, this is how we did it. But come on board with us. We’ll be that franchising partner with you. We’ll show you how. It’s an easy gateway into to be able to take on that market to offer those things to those to those patients that you’ve never been able to offer before. So it’s been really good to see the progression and how much it’s it’s very much needed when it comes to that. So just real quick ComCare actually provides a full run of respiratory equipment. So you’re talking oxygen CPAP CPAP supplies, as well as nebulizers. When it comes to the additional and getting more to the disease progression, you’re talking non invasive ventilation, so you’re getting to more and more serious diagnosis, really helping people early intervention into their disease progress, to be able to help them and give them that quality of life moving forward. In addition to the respiratory, it’s still a full lot of durable medical equipment, so Walker’s wheelchairs, I in our testing for any of your Warfarin patients that are still doing that, to be able to test at home weekly, with with great results as opposed to monthly and having to travel especially in some rural areas. So there’s a lot of well encompassing products and services that we provide to those pharmacies, and a lot of our owners give that feedback that’s just opening the door to more patients that they never knew they had. At that point. They’re talking to them about their non-combat care related things that they can provide prescriptions, compounding whatever it is, the things that you guys are experts on. That’s when you can really talk to them about that and everything else that you can provide to them.
Yeah, so the opportunity really is huge. It’s it’s, you know, I talked about sleep apnea just because like I said, that just seems to be more and more patients getting diagnosed, but it’s really all of that durable medical equipment and you as a pharmacy, you know, you think about decades ago and you know, that local pharmacy used to have all that DME and the pharmacy kind of got away from it when the big guys came in and there certainly has been a lot of shift in the market, you know, year after year and I think it really is shifting back to that independent pharmacy being that main point of contact that all in one stop shop, if you will, for that so I’m really quick. I’m gonna go ahead and share my screen and bring up your guys’s slides. And while I do that, it would be great if you just kind of talk about like maybe he was like the ideal pharmacy for you guys because so many times people listen to opportunities and they think oh, but you know I’m in a Medicaid area or I’m in a this area or whatnot like kind of just say like who you guys are like a really good fit for while I bring up your slides.
Sure. So it’s really it’s across the board. I mean, majority of the locations that common care has been a part of and partners with, and we’ve got locations have been with us for well over 30 years, 20 years, 15 years, we’ve got two locations that they’re now on their third generation of a family owning that pharmacy, which we always really liked to brag on on those kind of locations as well. But we’re very much in rural areas, but also highly populated areas as well. You’d be very, very surprised on the number of internal medicine physicians, general practitioners that hold on to those patients and diagnose for COPD, diagnosed for obstructive sleep apnea as opposed to passing those patients on to pulmonologist in the in the larger areas or things like that. So that’s so you can really it’s just an advantageous across the board no matter what your size, the type of community you live in. We’ve got we’ve got locations in areas that you know population three 5000 and they’re doing multiple CPAP setups per month they’re doing multiple oh two setups per month, and it’s just collecting that volume of patients and that’s where that revenue really starts to to degenerate.
Awesome. Well, I will let you take over and going through the content and then we will have plenty of time at the end for questions. If people you know aren’t sure about you know, the business model or those kinds of things, but I’ll go ahead and let you take over. You know what I do love I’ll just reiterated again, the story about convent cares, it was started by one of us it was started by an independent pharmacy owner who you know, saw a need and you know, started taking care of it and so I just I love that about the history of that company and I just think that makes it a little bit of extra special. So alright, I will kick it on over to you. Yeah, go ahead.
you. So Chris kind of already discussed this, this slide talking about the you know, kind of who complicated is and where we where we started and how we got to where we are today. Do I get to the next slide. So complicated. We’re headquartered in Bloomington, Indiana. We are able to operate operate franchises within 36 states. And then we are currently at sitting at 36 franchises in 14 states. As you see this is kind of a breakdown as Chris said, several 20 plus year. franchises that are out there. We have several in Indiana, Ohio, Illinois. When you look at Kentucky, Tennessee and Georgia, we have several that have been with us for 10 plus years with our newest one. As as Lisa said earlier was was was Ken with rightway pharmacy in Sun City, Arizona, which I was just out there last week and did a big marketing blitz for him went out talk to all the doctors let them know kind of new services that can starting to provide in his area which you know the the doctors Express, you know, major kins amaze amazing. His pharmacy is amazing. So they’re they’re very excited to get this side of their business going and starting referring their patients to to right way rather than going to the major competitors that are in the area. This is the list of the states that we are currently in or that were our franchises are right now. If you want to you can go the next slide too. So complicated responsibilities. What do we do? Complicated provides on site training. We actually come in for a about a week. It’s a three day process, where we’ll come in and we’ll we’ll get you all ready to get all set up we’ll do on site training, accreditation through chap. So that first day that we’re at our franchise, we’re really getting in there and getting everything set up getting everything place where it needs to be making sure that the fire extinguishers are checked, making sure that everything’s done. That way we know that if tap were to ever walk in that that that pharmacy is ready to go, they can pass that inspection. Equipment is given on consignment so there’s never any overhead and any of the equipment that anybody has. The only way that you’ll ever have to pay for that equipment is if you cash sale and at that point you don’t even pay for it. It’s just automatically debited on your commission check. We handle all the insurance verifications. We make sure that everything that we did the same and similar, make sure that the patient has received the equipment in the past and what their copay is going to be. If they’re a private pay patient. They know what they’re going to pay upfront. If they have anthem, and they haven’t met their deductible, we let you know that they haven’t met their deductible yet and what their copay is going to be. And then on the backside, we also do the billing and collections of all of the claims. All that money comes in to us. It’s all built through our NPI numbers. So we have all of those contracts with the insurance companies so you guys don’t have to go out and get a lot of contracts. We already have a majority of those. We also provide a sales support. As I mentioned, we do a big marketing blitz once we open up a new location going out to all the doctors offices, let them know. These are the new services that we’re providing. We would love to help you out with all your patient needs. Not only can we do oxygen CPAP but we can go out and we can help you with your prescription needs. We’re I’m never shamed with complicate I’m always Shane with the pharmacy. I believe in the independent side of it and knowing that you know not only can we help you with your your CPAP but we can also help you with prescription deliveries or I really like to learn what those franchises are doing so that I can talk with those doctors about while I’m in the field. And we also most states do require a respiratory therapist so we will go out and we will do the hiring we will place the ads for that respiratory therapist, that respiratory therapist falls under our umbrella. So so there’s nothing that he hasn’t worried about. We make sure that they maintain their licensures we make sure that you know they keep up with continuing education’s. We also handle the competitive bid process. So whenever Medicare comes down, says we have a new bid coming up that’s on our end as well we handle that for you guys. Make sure that we’re always in with all the equipment that we’re providing. We also have a call queue Center. This is when you look at a CPAP machine we look at a CPAP machine as printer you know you don’t make a lot of money on the printer where you make all your money on his on that ink. So same thing with the CPAP machine. resupply, resupply, resupply, that’s our big thing. A majority of our revenue comes from CPAP resupply, our call queues handle all that they call the patient but the know what kind of equipment they’re available for they get new masks and new filters if the patient says yesterday that’s dropped, shipped directly to their house. At that point we dropped the bill and we dropped the claim for that we collect the money. Our franchises didn’t do a lot on that side of it and they get a reimbursement for that as well.
So you do everything
Yeah, we we tried to make it as easy as possible for franchise locations to take on take on these new responsibilities of you know, getting a DMA getting in respiratory. And
that’s one thing we tell them. Sorry, Lisa. Go ahead. Yeah, that’s one thing we tell all of our brand new franchise locations, you know, we do handle a lot. But this is a difficult industry. So we always want to paint the appropriate picture and let them know there is still work to be done. You have to train those physicians to when they when they send over an order. Everything has to be there. If not, we’re going to have to go back and we’re going to have to ask that doctor are these chart notes, you know, can we update those is everything in order for us to be able to take care of this patient. So there is a lot of work still. But a lot of that stuff if a franchise or independent pharmacy went out to try to do this on their own just to set up from scratch. Just think of all the different costs, all the different things they would have to put into place to be able to take care of that. And so what we’ve always told everybody is this is a turnkey operation. So when you first set up, for example, you know Ken it right away. He’s starting to set up his first few patients but that first day, he’s not sitting up 10 and 20 patients, it’s a progressive thing. So so it’s designed for that pharmacy tech or that pharmacy manager to be able to step out from behind the counter. Take care of that patient, that respiratory patient, whatever it is, and then step back and start filling prescriptions again, hopefully, eventually you’re you’re busy enough to where you say, you know, they can’t fill prescriptions anymore. We’re we’re doing so well. We’re going to have to hire somebody else or make make other arrangements but that’s a good problem to have. But you know, there is yeah, we do a lot of stuff. But there is there is that responsibility on that franchise side to be able to, to really have those conversations with those doctors and put your name out there and to be able to accept those referrals as
well. Yeah, you guys really take care of a lot of the nitty gritty stuff, the things that you know, is kind of complicated and tedious. So you know, thank you for that.
All right. So now that we’ll get in kind of what our franchise responsibilities are, from the beginning, they accept that referral, that referral is going straight to them. It’s not coming to us and a lot of instances now we do have, we do have online it’s a company called parachute that we’re able to go through where that does kind of skip them goes directly to us, but for majority of the time they’re going to be accepting that referral to come in. They’re going to be gathering all that information, getting the chart notes, the order the patient demographics, everything that we need in order to to do that insurance verification for that patient. Once we give them the okay to set up that patient with with whatever equipment they need, then they go out and they do that setup side of it. They’ll go out you know, the only thing that we’d like to get that patient into the pharmacy as much as possible. So the only time that I would prefer that you go out and do that setup is if you have like an oxygen patient that that’s kind of needed to be in the house so you can kind of see it. You can you can place that concentrated where it needs to be in order for them to get through their house get to everywhere that they need to be but for everything else, your walkers or wheelchairs, your commodes if need be I’d like to try to get them into that pharmacy that way. It’s it’s building that foot traffic. When they walk in, they’re like, Oh, I didn’t know you did this and I didn’t know you did that. And then you can start talking to them to all the other services that that pharmacy provides. Which to me, you know, building creating foot traffic right now, especially after COVID I know I’ve talked with a few of our owners are like you know, foot traffic’s down what can we do? To increase foot traffic? So one thing I always say is young, get those patients in, you know, to have them come in, pick up their equipment, rather than going out and delivering that walker or that wheelchair, you know, try to get them in to the door. And then after that setup side, they maintain the patient. So especially with oxygen, they’re delivering tanks to the oxygen patient they’re delivering nebb medications. So the mice will be delivering them their, their, their Neverland, nebulizer supplies, sorry. And then on the other end, we do have continuing education that we do monthly. This is just a way for us to make sure that they’re they’re continuing. You know, if anything changes in our market, we make sure that they’re aware of that, you know, if there’s insurance changes or you know, if Medicare requires something new, we like to make sure that they’re on top of that. So we do continuing education with them monthly as Chris said earlier, this is kind of a list of our products and services, oxygen, overnight oximetry, we can do those as well. CPAP BiPAP, non invasive on ventilators, home INR testing for Coumadin, Warfarin patients after this nebulizers and then all your DME your Walker’s wheelchairs, commode hospital beds, stuff like that,
in our locations are able to pick and choose what they want to do. Not everybody has the staff to deliver a hospital bed not everybody has the staff to to take care of everything. So if you just want to be that respiratory only location, you don’t want to mess with the DMV side. Or if you want to be all encompassing, but it’s really depends on your location, your staff, the size of your building, the type of display you want to have, but you really get to customize it for you and your community and your location.
All right, great. So I want to dive into a couple of issues now. And so for those of you that are online, if you have any questions, you can either type it in the chat or you can unmute yourself and I’ll I’ll call on you. So q&a is coming up here really quick. One One thing so in the typical pharmacy, you know, maybe like pens, whatnot, you know, he has a pretty typical typical pharmacy. What’s the revenue generation look like? Like, what is that potential of kind of that average? You know, what does it look like in the first year? What does it look like after maybe your three or your five? Let’s talk let’s talk some numbers. You know, obviously, the business side of it. So what does that potential look like?
Sure. So our goal is for that franchise, so once they come on board with common care, there is a $10,000 franchise fee. So our goal is that return on investment for that first 12 months. So our goal is for you to be able to obtain that to reach that back within that first 12 months. It really depends on how aggressive you are as an owner on what you’re able to achieve. We tell all of our owners as soon as you come on board with us, you really need to be the face of your franchise location. You don’t always have to do that. But those first few weeks, those first few months, make sure all you leverage all those relationships with those with those physicians that you have, being a pharmacist over the years to be able to take on those types of patients. But you’re talking, you know, your average CPAP reimbursements Medicare reimbursement is right around $55. So that’s that bills for every 30 for for a full 13 months. So $55 for for that duration at that point. A typical CPAP supplying patients that order is between 100 and $150. About every month as well, depending if that patients really stays on the therapy really stays on that regimen. And so it’s all about accumulating those patients, having good patient care with those patients. So you can create building that volume and so that’s where you can you start to see a lot of revenue. A lot of our locations, the first thing they do is CPAP supplies. One of the things we have a bunch of mannequin heads when we when we go out for displays. You guys probably saw those at our conferences and those are the biggest thing that drives everybody straight to our to our booth and and that’s what happens when in a pharmacy as well. There’s like you know what, I’m on CPAP I’ve never seen that mask before. You all supply that that’s great, but that’s the first thing that you can really start making money on upfront, and then you start building on that you want to be able to take nebulizer patients supply those nebulizer meds, those patients with OCP COPD diagnosis or eventually become otoo patients. Those ot patients are eventually probably going to become NHV patients non invasive ventilator patients, ventilator patients that reimbursements between nine and $1,100 per month. That’s your big dollar. big ticket items when it comes to reimbursement. Oxygen, depending on your state can be between 90 and $110 per month reimbursement and then when you talk about sleep, I talked, you know $55 For a CPAP by level is a little higher, again, depends on the states. And then there’s different versions of that. Different levels of that as well, depending on the type of equipment that they’re using. hospital beds are still good reimbursement. Again, if you have the staff to be able to go out and deliver those Walker’s wheelchairs, it’s all about volume and building that up for those patients. But a typical location, you know, our first year there, they’re bringing in between you know 15 to $25,000. And then hopefully getting that that initial investment back. But we’ve got locations that are doing well over $3 million a year. We’ve got locations that are just starting off and we’ve got quite a few in between as well. So, you know, our long standing locations. They’re the ones of course doing high volume so it takes a lot of effort upfront to be able to get it rolling once it starts rolling and you start acquiring those patients. That’s where that reimbursement and that that revenue starts to build
Yeah, I could really see the leveraging the relationships like you know, you your local churches, your local bingo clubs, your local you know like you know, going after those kinds of the gardening little you know, Saturday morning Garden Show your local radio and you know, you go after that I think it’s very easy to target you know, that kind of demographic not to say that everybody needs to see pap is old but you know, you start there, you start to low hanging fruit and go out so I did get one question. Text to me that I thought was a very good question. And so right now a lot of people are having a really hard time with staff and hiring and getting people you know, to show up and one of the things you mentioned was you guys hire that respiratory therapist because in most states a respiratory therapist is required how successful you are doing that I you know, they’re kind of worried that they’re not going to be able to find somebody because they’re not being able to find people for you know, other positions.
For several years that was extremely difficult. It’s actually improved greatly within the past two to three years, especially with a public health emergency that really emphasized a lot of the work that we do. And a lot of the necessity when it comes to the respiratory environments and everything around pharmacies. So so we’re able we’ve we’ve actually been lucky. For example, kids we found we had two great candidates very early on. So we were able to schedule, the setup, schedule, the training, all of that at the exact same time. We have a we have two respiratory therapists on staff for ourselves. And so our regional healthcare manager was able to go out there and sit with that respiratory therapist and train her right there on the spot. So to answer your question, it’s been improving greatly over the last couple of years. We also tried to leverage when you’re talking about leverage relationships, if there’s a hospital in your area that you know, well. These are all PR in respiratory therapists that we hire. So they’re not paid a salary. They’re not paid hourly, they’re just paid by the TAs that they complete. And so if you’ve if you’ve got a great relationship with the hospital, and there’s an RT that works there, we can also hire an RN as well. So if anybody knows of a nurse, when they come on board, we can do that. We can’t do LPNs anybody like that, but we can’t do an rt t we can’t do an RA and so so the RN really helps as well. They don’t have as much background, but we have a great training program that just kind of holds their hand through it and once they get more and more repetitions of setting up C paps, they knock it out of the park pretty quick.
Awesome. Thank you. So heritage chemist. I don’t know if it’s Frank on or someone else but they asked what is the one time cost to join the franchise? You guys mentioned that earlier. But let’s just reiterate in case somebody missed it. So I believe you said it’s $10,000 Correct. All right. And then is there a listing of what we would make for the typical items? And how many patients would you assume you would need to get to recoup that? 10,000 So kind of a two point questions or listing you know, I guess like typical Medicare maybe reimbursements obviously, you’re very vise different states and different insurances, so we’ll make that question number one. There’s our listing of of that.
Yeah, so what we’d like to do whenever we bring on an initial location is we will actually provide them with revenue projections. So we can go in we get Medicare pricing, and we can run those projections for them. Another thing that we have that’s that’s available, which I mean if you’re alright, with me sharing my screen, I’d like to show a couple things. So, as I talked about, you know, especially with our marketing blitz, this this kind of goes hand in hand on how we how we can determine what kind of projections we can give to to these patients. Can you see my screen? Yep. Okay. So one thing we perfect. So one thing we can do, we can actually go into our certain geographical area by zip code by location by state. We can come in and we can for this one I actually put it for Seymour, Indiana, whichever location down there, so we can actually come in here and we can put it in on that zip code. And we can run this report to see make sure that we’re hitting all those high referring doctors. So this is where we would start off when when doing a marketing analysis for them or doing the revenue projections for them. And on here, you can see if you have a high COPD decile ranking are they ordering a lot of oxygen for that patient as well. So if you see a high COPD, high oxygen decile doctor you know that they are they have a lot of COPD patients but then they also have our ordering for a lot of their COPD patients. And then you can kind of see their OSI OSA decile ranking as well do they have a lot of obstructive sleep apnea patients, as well? A lot of INR do they order INR for their patients? And then we can go into a doctor which have Dr. Wilson up here where you kind of see their their competitor utilization, who are they using and this is a series of 12 months of data and we can kind of come in here and see what oxygen are they referring to Who are they referring to where are they referring their oxygen where are they referring their CPAP where are they referring their? Their bit and we can also see where they’re referring their unit does for their nebulizer patients. So this is kind of where we start off and doing a marketing analysis for them. Make sure that the business is there for them. Number one, that we don’t go in and we see that this hospital system has their own DME company and you know might not be beneficial for you to provide the service within your area because this hospital system only uses this this their their current DME company that they have within. So based off these numbers, we can actually yes, do a marketing do a marketing analysis for them and do the revenue projections for them as well.
All right, yeah. We we want to bring on is, you know, is main locations we can but we give everybody a clear picture upfront. And if the business isn’t there if the population is not there, if you’re not seeing a lot of that it’s kind of a reality check and saying, you know, this might not this might not work, but most of the cases it does. So that’s a really good tool that Shane uses when he goes out and says all right, these are the these are the competitors in the area. These are the doctors there’s this is where they’re sending them. What are your relationships and the other question I have for Heritage chemists when when you ask that we also you know and the answer is always well I want to make as much as I can. But what really what is that that realistic goal that you want to read that reach that first year, year three, year five, and then we can plug and play and say all right, in order to reach these numbers. This is the amount of setups that we have to have 402 for CPAP for non invasive ventilation. And so that’s the goals that we reach that we go to so we never just set something up and say see you later it’s it’s all on you now. We we go we make this walk with you. So we’ve got a lot of partnerships for long standing, and we want you to reach those goals because those are our goals as well. So whatever those goals that you guys set, that’s what we’re really trying to reach for
us and so, you kind of answered that back half of the question, but you know to reach that 10,000 To get that you know recoup of that 10,000 back so they’re, you know, kind of even Steven, what is the typical patient obviously you can vary you know, if you get all high end patients or all low end patients, but in general what is kind of that mix that you know, do I need to go out and find 50 new patients or is it 500 new patients? You know, what does that look like?
Projections Sure. Um, so with the projections, what we really look at is kind of a mix of all of the equipment’s from oxygen CPAP BiPAP. Do a non invasive on ventilators. It through through every research that I’ve done so far, if we could do two oxygen a month, doing three CPAP a month doing one ventilator a quarter and doing two bypass a month along with doing some of the DME we could typically get that money back in the first year.
Well, that doesn’t sound like much. That seems like a pretty like that seems like a doable amount there.
Yeah. Yeah, like I said, we like to make it as clear as possible by providing these revenue projections and making it comfortable and if if you have an owner that that’s like, I’m a really good friend with this doctor, can you look at this doctor for me, we can look at the doctor see what where they’re sending their business to. That way we can kind of tell them you know, this is how you go at that doctor. You know, this is the services that we can provide that these other locations that other competitors do not.
Awesome. All right. Thank you, Frank. Let me know if you have any follow up questions, or if that answered answered them. Anybody else on if you have any questions, go ahead and feel free to put it in the chat or you can unmute yourself what’s the only time to like oh my gosh, I’m on this webinar, and I think I can kill this too. Like now you’re at my pharmacy training?
Sure. So we do go through an application process. It is a franchising so we go by the franchise laws in each states and typically they’re all the same. But it’s this application process that goes through our legal department. And then at that point, they create your franchise agreement for you. And so you’ve got a you know, X amount of time to be able to review that ask questions and go through all of that. But say you sound you know, you got your application and you’re used to submitted that today, you’re probably looking between a six to eight week period before we’re on site, at your location. And that’s if everything goes you know, perfectly smooth, and typically it does but, but if you have questions on the on the agreements and and different things like that, we’d like to take the time to make sure that everybody understands everything as well. But, but once we get that date that you’re saying, Alright, this is the week I want to set up. Then at that point, we’re there. We’re on site, like Shane said for three to four days, and we’re going through everything you’re having training with us in person, but also with a lot of our team, just like through zoom with with some of our other additional staff. And then at that point, we say okay, we’ve got everything in place. You feel comfortable, we feel comfortable. And then at that point, we say okay, when do you want your marketing to blitz to be and so that’s another time we come out to your location, we say, All right, let’s go we’re gonna go to every doctor that we can, every hospital that we can. We’re going to talk you up as best we can, and come up with ideas for your community. That’s really going to all of those smoking sensation classes, different things like that, that we can get in front have to be able to really promote you, you’ve got great reputations as pharmacies, now you have to get a great reputation as a respiratory company. And so that’s our goal to be able to bring that to you as well. So, so you’re looking between six to eight weeks, sometimes 10 weeks just to get it all together. We start shipping you equipment out when you just each location. Each owner defines their territory. When you come on board with us. You say I want this county right here. That’s your exclusive territory. Another common care location cannot be in your exclusive territory moving forward. So you never have to worry about that as well. Anytime you want to expand your territory, if that’s reasonable, and we don’t have a location next to you, you’re able to do that as well. So just defining that making sure we got all the boxes checked, but it’s about a six to eight week period. I know that was a long answer, but we’re gonna make sure it covered it all.
That’s all right. I think part of the marketing blitz should be a contest to name the mannequin like you know, I think you should add some different contests because I think that would go over really well. Anyways, like I’m just throwing that out there if you need any marketing help with that happy to help.
My daughter calls me every single every single time she sees the same pipette she’s like, Hey, it’s a Jimmy so that’s that’s what she we
also have. We also had a pharmacy in Kentucky one time they had mannequin in their window and somebody called the police because they thought somebody was in there at one point so this mannequin stories go way back. I
think I you know, you probably know no such thing as bad press right? Like all righty. Well, it doesn’t look like we have any other questions at this point. If somebody’s watching this recording since most of our members do watch the recordings here, what is the best way to get a hold of you guys?
They are more than welcome to reach out to me. Shakespeare my email is Jay Smooth to J S M O T at convert care services.com My cell phone number is 317-417-4585 Never too early or too late. me whenever you want to. We
also have a great website so that’s common care services.com But that goes through our entire history, all the responsibilities that we covered earlier, but it’s a great resource for anybody out there looking for information as well.
Awesome. Well, I super appreciate you guys for all that you do for independent pharmacies. I know all of your customers absolutely love you guys. And it’s easy to see why because I mean with all the training you guys do all that all that upfront, like heavy lifting, you know, $10,000 is a pretty I mean I it’s it’s not a small amount of money, but I think it’s a very good value for that money. Because you guys are doing all of that heavy lifting that frankly none of us pharmacy owners wanted to. So thank you so much for that. It’s a fantastic opportunity. It’s a great way to diversify your revenue without PBMs you know, yes, there’s still billing. You know, you guys are obviously doing billing and there’s things you got to meet but you know, you’re not you’re not giving more money to those PDFs that we all love, just love to do business with. Right. And, you know, I think it’s just really making each of your patients more valuable. Again, the more problems you can solve for your patients, the more they’re gonna love you, the more they’re gonna stick with you. They already know like and trust you so it’s so much easier than going out and just getting you know, all new brand people that have never heard of you before, eventually you’ll do that. But it’s always good to start with your own patients. You already have hundreds if not 1000s of patients that come to your pharmacy every month. There’s a good percentage of them that need these types of products and services. So thank you so much, guys. I look forward to seeing more LinkedIn posts as you guys onboard some more, some more pharmacies, and thank you so much. We’ll talk again soon. Thanks. Bye, everyone. Thank you

Date: April 25, 2024
Time: 12:00 pm