This goal statement closely mirrored the overall corporate objective: "Create a unique meeting place that advances and promotes the mission of CHSI and supports its partners and stakeholders.
CHSI determined that three core groups were using its event space and tailored its approach accordingly.
Resident clients included paramedical clinics, health and safety associations, and other businesses headquartered at CHSI, which mainly played a landlord role for this group.
To meet that goal, CHSI re-evaluated its pricing strategy and invested in re-branding, targeted marketing, and collateral.
County data for age distribution, population size and density, poverty, high school graduation, unemployment, severe work, disabilities, all-cause mortality, and births to adolescents were obtained from the Health Resources and Services Administration-funded Community Health Status Indicator Project Health Status Reports, which were created by the CHSI Project partners (Association of State and Territorial Health Officials, National Association of County and City Health Officials, and PHF).
The findings suggest that CHSIs may be usef ul in the public health planning process.
Busch, who founded Medicine Shoppe International in the late 1960s and left that company in the mid-1970s, says CHSI is looking to purchase, financially strong independents to create a chain with a store count that could number in the thousands.
Pharmacies in the CHSI network would retain their original names, helping them continue to provide customers with the feeling of a locally owned business.
Busch notes that the arrangement will create an entity with fiscally sound stores and give independent pharmacy owners an incentive to grow their businesses, knowing that they will have a guaranteed exit strategy when the time comes to sell to CHSI.
Rather than valuing an independent drug store based on the worth of its inventory, lease, pharmacy files and other assets, Busch says CHSI will purchase outlets based on a fixed multiple of their earnings before interest, taxes, depreciation and amortization.
To help independent stores improve their earnings during the conversion period CHSI will offer a number of services for which the pharmacies will pay a monthly fee.
Store owners who join CHSI will also be required to take part in the 850-store United Drugs cooperative, which has annual buying power of more than $1 billion.