Read on to learn more about Pharmacy Marketplace and how we help independent pharmacies
Pharmacy Marketplace: Revolutionizing Drug Purchasing and PVA Compliance Monitoring for Independent Pharmacies
Pharmacy Marketplace is a unique drug shopping utility crafted by independent pharmacy owners, specifically tailored to meet the distinctive needs of fellow independent pharmacy owners. The Pharmacy Marketplace story is one of innovation, expertise, and a passion for improving the pharmaceutical industry. Born out of the legacy of Hinkle Pharmacy and the ingenuity of Inventory IQ, Pharmacy Marketplace is here to transform the way independent pharmacy owners manage their bottom line.
A Legacy of Commitment:
Hinkle Pharmacy, under the dedicated ownership of Bruce Hinkle for over three decades, set the stage for what was to come. Hinkle Pharmacy is an independent pharmacy serving the needs of its local community in Bessemer, Alabama. After his well-deserved retirement, ownership of the pharmacy was transferred to Bruce's sons, Tanner and Wade Hinkle.
Pioneering Inventory IQ:
Tanner and Wade's original brainchild, Inventory IQ, emerged as an inventory management solution, providing nationwide services to install and manage perpetual inventory systems for more than 600 pharmacies that collectively purchase over a billion dollars annually.
Identifying Flaws & Paving the Way:
While constructing perpetual inventory systems, the brothers encountered many inherent flaws in inventory management and drug purchasing software. Their experiences ignited the belief that there must be a better way—a way to minimize manual labor and maximize transparency in the purchasing process.
The Birth of Pharmacy Marketplace:
Armed with mathematical concepts, pharmacological insights, strategic partnerships, and a team of tech-savvy software engineers, Tanner and Wade gave life to Pharmacy Marketplace —a groundbreaking solution that enhances transparency and optimizes drug purchasing.
Customized Efficiency & Savings:
Pharmacy Marketplace achieves optimum efficiency by analyzing dispensing history and primary wholesaler purchasing agreements. Its AI, Athena, reviews historical dispensing data and forecasts potential usage, incorporating the pharmacy's replacement cost from its primary wholesaler. Athena then compares thousands of items at the pharmacy's lowest replacement cost to potential cost-saving opportunities from Pharmacy Marketplace's secondary wholesalers. These opportunities are presented through a user-friendly marketplace interface, enabling pharmacy owners to make informed purchases swiftly.
Our Mission:
With Pharmacy Marketplace, pharmacies can bid farewell to unwanted sales calls, manual cost calculations, painstaking dispensing history assessments, and the hassle of searching multiple website catalogs for the best prices and product quantities. Pharmacy Marketplace does it all in a matter of seconds.
At Pharmacy Marketplace, we're dedicated to empowering independent pharmacies by making their ordering processes more efficient and enhancing their bottom line. Join us on this transformative journey in the world of pharmaceutical procurement and PVA compliance. Your success is our mission.