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As president of PMSI Inc.'s pharmacy division, Lori Daugherty is responsible for managing the financial performance of one of the nation's leading providers of pharmacy, medical services and equipment, and settlement solutions to the workers compensation industry. Ms. Daugherty is known for developing PharmaComplete, a comprehensive, data-driven cost-containment solution that reduces non-network workers compensation expenses by addressing high-cost out-of-network provider bills throughout the life of a claim. Since its implementation in 2010, PharmaComplete has achieved network penetration rates averaging more than 90% for PMSI clients, far surpassing the industry's historically accepted rates of 65% to 70%. Ms. Daugherty has more than 20 years of industry experience, previously serving as president and CEO of three major health care and workers compensation managed care organizations.
WHAT ADVICE WOULD YOU GIVE TO WOMEN ENTERING THIS FIELD?
One of the things that has helped me was listening to and researching what's happening in the marketplace and being proactive and making changes to your organization to be ahead of the curve, or at least be on the curve.
WHAT IS THE MOST INTERESTING THING YOU'VE LEARNED IN YOUR CAREER?
Literally, everything—including people, processes and technology—evolves, and it's how you respond to those changes and how you react and adapt. I think a lot of people try to resist, and then you get left behind.
DID YOU HAVE A MENTOR EARLY IN YOUR CAREER?
Bill Chastain, former president of PMSI. I worked for this individual for about eight years, during my first round at PMSI. He was a process-oriented person. I've had great mentors throughout my career. Even today, I have a professional in a similar industry that, when I feel the need to reach out to someone, I can go to them in confidence and talk about those issues.
WHAT IS YOUR DREAM JOB, OUTSIDE OF YOUR CURRENT ROLE?
I would like to open a shelter for single women with children who have lost their jobs and have been displaced as a result of the current economic climate, to support them and their family needs while they are re-educated and/or reintroduced into the work environment. Florida has the highest percentage of homeless children because of the economy.
OUTSIDE OF FAMILY AND COLLEAGUES, WHOM DO YOU ADMIRE MOST?
Anderson Cooper. He's always out on the forefront bringing issues to his audience. When you think about the oil spill off the coast of Louisiana or the earthquakes in Haiti, he's there, on the ground, making sure we see what's happening on a worldwide basis.
WHAT'S YOUR CAN'T-MISS TV SHOW?
I rarely watch TV, but when I do, I watch “American Idol” because it's so “out there.” I can turn off the world and forget about everything. It's entertainment for me.
BEYOND WORK, WHAT ONE THING DO YOU WANT TO DO OR ACCOMPLISH IN LIFE?
It goes back to my dream job, being able to give back to women in the world who are in need. If it were a shelter or just being able to volunteer or to make financial contributions that are meaningful, that's what's important to me.
DO YOU USE SOCIAL MEDIA? IF NOT, WHY NOT?
I do, but on a limited basis. One, due to time: I do have a family and I do have a career, and I need to have some “me time,” too. On a professional basis, I use LinkedIn. I read a lot of industry blogs. I also use YouTube so that I can stay current on what my 16-year-old son, Bryan, is viewing.