Scroll to top
Mission Objective: Save + Revitalize Independent Pharmacy™
Share

Nicolette Mathey


Palm Harbor Pharmacy

Nicolette Mathey from Palm Harbor Pharmacy

SNAPSHOT

Palm Harbor Pharmacy

What pharmacy software do you use?

PioneerRx Pharmacy Software

Ever since her first job at a pharmacy at the age of 16, Nicolette Mathey knew that was where she was meant to be. Despite what people may say about curiosity, Nicolette’s has led her on an odyssey through the pharmacy industry that continuously leads her to creative opportunities.

What is Orchid?

Background

Nicolette always knew she would be a business owner. What started as childhood dreams of owning a pet store or hair salon grew into goals of owning a pharmacy when she learned about the industry as a teenager. Her career began in chain pharmacy, but she didn’t learn about the possibility of independent pharmacy until she began working in transitions of care for a hospital. As she worked to convert independent pharmacies into transitional care programs, she had a realization. “I started going in and doing the conversions and realized, hey, it might be possible to own a pharmacy of my own one day,” she recounts. “It was an entirely different world that I just loved.”

Ownership

In May 2017, Nicolette purchased her first pharmacy, Palm Harbor Pharmacy. Located within a medical complex, Palm Harbor is actually a low-volume, high-profit operation with a small staff, including Nicolette. She credits her team’s efficiency to resourcefulness and “systems” they can rely on if an issue arises. A major factor in Palm Harbor’s business are protocols, which she develops alongside providers whose patients are receiving drug therapies that may need additional education and monitoring. Although these drugs may sound like specialty medications, they are usually generic medications that require no accreditation but are treated like high-touch therapies. Nicolette has coined these quasi-specialty medications.

Discussing Quasi-Specialty

Quasi-Specialty

This new approach to medication therapy is one that is a win for everybody, according to Nicolette, especially for profitability. “From a business perspective, you have to have some profitable medications,” she explains. “If you have more profitable medications you’re dispensing, you have more time to spend with the patient because you’re not losing money on every prescription and filling scripts as quickly as you can because you have to play the volume game.” With the extra time, independent pharmacists have more time to provide additional forms of care such as educating patients on their medication and performing regular follow-up calls with them. As an independent pharmacy, this quasi-specialty approach helps Palm Harbor stand out from the chain pharmacies in the community. Nicolette credits independent pharmacy and her staff for Palm Harbor’s success so far. “It’s labor intensive. What I praise my team for is how they interact with the patients,” she says. “I don’t want them just filling prescriptions; I want them noticing patients. They love it, and the patients love it, too. The prescribers especially love it because, once you can get them to understand that you’re not a commodity, then they realize they’re not going get that same type of service from Amazon or a chain.” Furthermore, Nicolette has made the practice of quasi-specialty more accessible for other pharmacies through ORCHID, her most recent endeavor that seeks to empower pharmacies and give them the tools they need to be more profitable.  

How Orchid Can Help

Stay Curious

Overall, Nicolette has had an incredible journey centered around pharmacy, and she credits her own curiosity for leading her so far. “I’ve been impacted by a few really great pharmacists and business people. I feel if I hadn’t met them and I hadn’t been inquisitive and listened to what people told me, then I wouldn’t have had all these opportunities,” she says. “People create their own opportunities through curiosity.”

Curious about Nicolette’s insight and success? Make sure you attend her class on Opportunity Case Studies at Connect 2019!