Technology in Pharmacy Business with Scott Carpenter

Manage Your Pharmacy Lease Portfolio with the LeaseIQ App

June 16, 2022

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In this episode of the Pharmacy View Podcast host Scott Carpenter, EVBC talks with Beshara Dafesh, founder and CEO of LeaseIQ, a platform that helps Pharmacy owners manage and keep up to date with their property portfolios and leases.

Beshara has had over two decades of experience in various sectors—retail, healthcare, QSR, and
telecommunications. He has completed numerous property transactions across the health and medical industries, among others. He founded LeaseIQ with the goal of making a difference and bringing about significant benefits to leasing, site acquisition, and property management so that clients can leverage the data the platform provides to not just grow but also innovate their businesses.

Having launched LeaseIQ just under 12 months ago, Beshara calls it a real success story. A lot of organizations and individuals have used it to manage their leases across different sectors, he says. As he puts forth, one of the biggest reasons as to why he created LeaseIQ was that he wanted to give tenants the power over their data as a lease, he believes, is an active document. The features that LeaseIQ provide include (but are not limited to):

an extensive mapping tool,
one-touch lease summaries,
pre-built fields to track leases,
automated updates,
benchmark dashboard, and
reporting functionality

LeaseIQ is a centralized cloud-based software system that allows the user to access information whether it is via desktop, mobile or tablet. It keeps track of all the critical dates, documentation compliance, location management and benchmark reporting. A Pharmacist can access industry data and make informed decisions. From guiding investments to lease re-negotiations, data on the platform is a tool that the clients can use to their advantage.

Beshara says that there has been an explosion of health care development in Australia and technology sits at the fore of it. From having to use spreadsheets to manage multiple Pharmacies, there has been a major technological leap to using cloud-based services. He sees much potential and opportunity in leveraging the tools at hand and working in collaboration.

Topics Covered

How LeaseIQ came into being
Power in the data
Features provided by LeaseIQ
Benchmarking and additional features
Guide re-negotiations using the power of data
Client journey with LeaseIQ

Key Quotes (Time Stamps)

“I developed LeaseIQ and launched it just under 12 months ago. It’s been a real success story. A lot of organizations and individuals have used it to manage their leases across different sectors. (3:35 – 3:47)

“The big reason why I created LeaseIQ was because I had to give tenants the power in their data.” (4:41 – 4:47)

“I keep saying to a lot of the clients, your lease is an active document. It’s not dormant. Although you sign it five-seven years ago, it’s a really critical piece of your puzzle in your business because a lot of Pharmacies have to spend a lot of years, 2-3 decades building up a business and their asset values, I keep saying to my clients, is actually in your lease.” (5:07 – 5:24)

“LeaseIQ is a centralized software system where you can access all that information whether it is via desktop, mobile or tablet.” (5:50 – 5:58)

“In the post-Covid world or in the Covid world that we still live in Pharmacies have shown resilience. It has shown that it’s probably one of the top three people services out there in healthcare.” (12:34 – 12:44)

“What we always say too is you are leasing time and not space. And I think that’s the biggest message we constantly try to get across to any of our clients: the space is a space but you are actually leasing the time period and securing your asset.” (17:54 – 18:08)

“Like any software system, Scott, there’s garbage in and garbage out. But data is the key. At the end of the day, if the data isn’t updated regularly, you’re not going to get the benefit the system provides you. So, what we say to our clients is, you need to invest in the system, the system will look after you if you invest in it. Everything is automated, all the dashboards are there. But of course, you have to maintain the data.” (20:33 – 20:52)

Social Media Clips (Time Stamps)