Nate Hux- Pickerington Pharmacy- The Problem with "the system" - Episode 18

Cosmos & Commerce Podcast

Hosts: Janis Francis and Michele Cook

Guest: Nate Hux, a pharmacist and entrepreneur

Key Points:

1. Background and Career Shift: Nate Hux, initially a corporate pharmacist, shifted to an independent pharmacy. He bought Pickerington Pharmacy from Dale Schultz, aiming to focus more on patient care rather than corporate profits.
2. Launching Freedom Pharmacy: In 2020, Nate launched Freedom Pharmacy, a separate entity from Pickerington Pharmacy, to offer medications at more affordable prices by bypassing insurance companies. This approach aimed to reduce administrative costs and focus on direct consumer transactions.
3. Challenges and Decisions: Funding Freedom Pharmacy was challenging due to the unavailability of loans during COVID-19. Nate had to invest personal funds. He considers opening Freedom Pharmacy as his best business decision.
4. Marketing Strategy: Nate's effective marketing strategies include media relations and grassroots efforts. He emphasizes personal connections and community involvement over traditional advertising.
5. Employee Satisfaction: Nate believes in creating a positive work environment and making employees feel part of the company's success. He values employee feedback and aims to foster a culture where staff feel invested in patient care.
6. Growth and Customer Base: Freedom Pharmacy caters to a wide range of customers, including self-employed individuals and seniors, especially those with high-deductible insurance plans. Nate foresees balanced growth between Pickerington and Freedom Pharmacy in the coming years.
7. Compounding and Veterinary Services: Freedom Pharmacy offers compounding services, creating personalized medication forms and also caters to veterinary prescriptions, reflecting a growing segment in their business.
8. Advice for Aspiring Pharmacists: Nate advises new graduates to minimize personal debt, giving them more career options and flexibility. He stresses the importance of financial prudence for aspiring entrepreneurs.
9. Future Plans: Nate's future goal is to train others in establishing similar business models, freeing them from reliance on the traditional healthcare payment system.
10. Personal Insights: Nate enjoys downtime with activities like reading and playing strategy games. His approach to life is influenced by a philosophy that prioritizes family, faith, and meaningful work over material achievements.
11. Contact Information: Nate does not engage in social media personally but can be reached through his pharmacies’ websites or directly at the Pickerington and Freedom Pharmacy locations.

Episode Links

Pickerington Pharmacy
Freedom Pharmacy
The Real Anthony Fauci by Robert F. Kennedy Jr
Civilization 6
Brewdog Punk IPA

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