Complete Pharmacy Solutions (CPS) began dispensing medications September 2009.
The story of CPS is one of determination and resourcefulness. The concept and potential customer base was there, but the “Great Recession” provided a road block for the founding partnership to secure a loan to get things started. Throughout the spring, summer and fall of 2008, the partnership met with all the big banks in Southern Ohio. Each time ending in disappointment.
Unfazed by rejection, the founding partnership took one last shot at financing. They checked with a privately owned bank in the Wyoming suburb of Cincinnati. Why would a small, privately owned bank be interested in our idea when the big banks were not? Can’t hurt to ask, right?
The bank was operated by a gentleman Tom Hammons met several years prior who was familiar with the nursing home industry. In November 2008, the bank operator took a look at the CPS business plan. Based on prior disappointment with the many banks that passed on the deal, you can imagine the excitement when after a long pause of silence, the bank operator blurted out, “I like it!” Truly a surreal moment. The bank operator then stated, “We are going to meet with SBA representatives and make this happen”.
The SBA process was a huge uphill battle as paperwork seemed endless. Following many submissions of data, the partnership received an approval. Although the approval was a little more than 2/3rds of the amount considered necessary to get the pharmacy operation off the ground, the group was bound and determined to make it happen.
Resourceful is the word that truly describes the mode of operation to realize the dream. Within one year, CPS was dispensing medications to 1,200 beds. Cash flow was tight. Resourceful was still the mode. Great service and the right price for skilled patients pointed towards success. Within two years, CPS was dispensing to 2,000 beds. Resourcefulness, great service, and right price for skilled patients remained the mode of operation.
Today, CPS provides pharmaceutical services to more than 30 facilities and 3,200 beds in Ohio and Kentucky. This includes skilled nursing facilities, assisted living communities, inpatient hospice facilities, treatment centers and ICFs. With over 65 employees, CPS continues to maintain a resourceful mindset, providing great service at the right price.
CPS is guided by a customer focused mission and vision.
To partner with health care centers in promoting the highest quality of life possible to the patients, residents, family members and staff served.
In a timely, confident, cost effective, friendly manner, meet the pharmaceutical service needs of Short Term Rehab Patients and Extended Care Residents, while holding the highest regard for continuous quality improvement and customer service to the administration, nursing staff and physicians who provide the medical management in the health care centers we serve.