It keeps happening — Independent pharmacies all over the country have been receiving sunset notices about their pharmacy software over the last decade, and it has not stopped! Is your pharmacy system next? Most recently, RxDispense let their clients know they plan to stop supporting the product this summer, leaving users scrambling to look for a replacement. The pharmacy software industry has seen countless sales and consolidations over the past few years. With these consolidations has come increased pricing and even new fees most users are unaware of, such as Pioneer RX charging a “usage fee” of 8.6 cents per Rx sold, including cash prescriptions! It seems almost every year another vendor announces their acquisition by a billion-dollar private equity firm, leaving you to wonder if the pharmacy software product you’ve come to know and love could be the next to be shut down and sunset. The question is, who can you trust long term? How do you avoid making the wrong decision and ending up in the same predicament down the road?
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If you find yourself in a position where your pharmacy systems vendor has sold off, and if you’re being pushed to move to another pharmacy management system that the vendor owns, you need to do your research to find the right partner for your pharmacy. Do not settle on their other pharmacy computer system just because they offered you to change over at little to no cost, as many pharmacy owners have regretted not doing further research prior to making such a decision. |
An Independent Software Vendor for Independent Pharmacy
There are still a handful of independently owned pharmacy computer systems vendors on the market who remain laser-focused on providing independent pharmacies with the level of service they deserve. As the owner of an independent family-owned business, you should care who you are doing business with. As an example, Datascan has been family-owned since 1981. In fact, it’s second-generation family-owned. Some additional insight into the company — Datascan’s owner is 47 years old, and the Vice President is 39– nowhere near retirement, and focused on the future! The company’s history, the team’s dedication, and the hundreds of 5.0-star reviews across the internet speak volumes.
But to take it a step further, their commitment to providing pharmacy owners the best pharmacy software, coupled with the most updated features and technology, is a true testament to their dedication to independent pharmacy. They are not here to nickel and dime you, and are one of the best-priced retail pharmacy software packages on the market today. Many of their clients have been with Datascan for decades, and for a good reason. If you find yourself in a situation where your vendor is trying to push you to a different software product they own, that is a telltale sign that they plan to sunset that product too. If you find that you’re paying more, the support is not what it was, or you receive a dreaded shutdown notice, it is worth every minute of your time to call Datascan and see what they can do for you.
Let’s take a moment to break down some of the software consolidation, sales, and shutdowns we’ve seen.
Acquisitions
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Transaction Data Systems (TDS) is owned by BlackRock, and they own:
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TA Associates is a private equity firm, and they own
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RedSail Technologies owns:
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Software Shut Down / “Sunset”
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Pharmacy owners– if the billion-dollar private equity-owned pharmacy management software vendor you’re currently with isn’t making you happy, what makes you think another large private equity-owned vendor will? If you find yourself wondering, “Is my software next?”, start doing your research. Independently owned software vendors focus on you, your needs, and the sustainability of independent pharmacy.
Datascan offers one of the most robust pharmacy software suites on the market today. They have an industry-leading mobile app for your patients and a cutting-edge delivery app to manage pharmacy deliveries. The pharmacy software itself has countless features built in, but also includes a robust compounding module and LTC module built in, at no additional cost—so whether you are doing compounding or LTC today, or may decide to add it to your business model in the future, the technology is there to run your business and help it grow.
Why would you continue to overpay for your pharmacy software, get subpar service, get nickel and dimed for everything, only to wonder what happens when they sell to the next billion-dollar corporation? (That is what private equity typically does; it’s how they make their investors money!)
Perhaps it’s time to do a comparison and see what an independently owned software vendor like Datascan can do for you.
Kevin Minassian is the President of Datascan Software. Under his leadership, the company rapidly expanded to provide pharmacy management software on a national level. Over the last 15+ years, he has ensured that Datascan has continuously evolved to offer innovative solutions for independent pharmacies while still offering world-class customer support. He is passionate about helping independent pharmacies to remain competitive, achieve success, and offer the very best service to their communities.
