Advancing The Profession of Pharmacy

[Interview] Identifying Profitable Opportunities in Compounding

by | Aug 24, 2017 | Consulting Pharmacist Education

Elevate Pharmacy Virtual Summit: Day 5 Session 3

Michael Haulsee, PharmD is CEO and Founder of TCS Coaching and Business Consulting, a consultancy that provides strategic operational, marketing, and organizational support to individuals and businesses within the specialty pharmacy and pharmaceutical industries.  Mike Haulsee’s experience is gained through his involvement within many facets of the pharmaceutical industry; manufacturing to wholesale to retail. Dr. Haulsee has owned pharmacy businesses worldwide, developed pharmaceutical manufacturing companies, assisted in the successful formation of international specialty pharmacies, and has become keenly knowledgeable of foreign cultural and regulatory differences. For over 20 years, Dr Haulsee has assisted many small to medium sized businesses within the pharma industry to development more than $150 million in revenue. From entrepreneurs, start-ups, to established businesses, Dr Haulsee’s continues to impart his unique talent to coach others to their “next steps for success.”

Learn more and contact Mike through his website here.

Also check out his medical tourism company PAYSA Health Services.

Key Takeaways:

  • Why getting started is sometimes the most difficult step
  • Educating yourself on business principles
  • Joining a community of like-minded pharmacists help stimulate growth
  • Setting goals for moving your business and personal growth forward
  • The average amount of time it takes a pharmacy to become profitable
  • Marketing strategies for building a business quickly
  • Creating a dedicated and regular marketing channel
  • Identifying opportunities to partner with local healthcare practitioners to offer community services
  • How to get started offering compounding services and evaluating ROI
  • Factoring in the time-opportunity cost of implementing a new service
  • The one thing Mike wishes he would have done from the very beginning of his entrepreneurial journey

We are re-launching the 2017 Elevate Pharmacy Virtual Summit LIVE ENCORE on September 15-19th, 2017!

If you missed any of the interviews and want access to our new BONUS interviews, join the Summit email list to get notified when the Summit ENCORE goes LIVE.

I hope to see you soon and look forward to hearing your ideas and plans to Elevate our profession.

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About the Author

Blair Thielemier, PharmD, is an MTM consultant pharmacist specializing in pharmacy billing models. She consults on and produces e-learning programs for state and national organizations, pharmacy wholesalers, payers, technology start-ups. She has books and online courses available for individuals looking to leverage their pharmacy knowledge into monetized clinical programs at PharmapreneurAcademy.com. She speaks internationally about trends in leveraging pharmacists to improve value-based care.

 

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