“That family feel transcends to the staff and then down to the customers,” she emphasised. Lisa McQuerrey has been a business writer since 1987. Bottom line: increasing front-end sales translates into higher revenues, and the importance of OTC in the independent pharmacy business is only likely to increase. To increase business, you need either to improve existing service elements or develop new ways of generating business. And, it turns out the changes you make to improve profits can also help you better serve your patients. Pre-reg interviews and CVs, Best of the rest 2019, At Hodgson Pharmacy, staff members take to the village high street to promote specific services. Rikin Patel suggested that independents use multiple channels to market themselves, including more traditional methods, such as leafletting and bag stuffing, and newer methods, such via email and websites. Here you will find blog posts about the profession and on issues that affect practice, #PJMindTheGap, Successful marketing efforts for a pharmaceutical business would require clarity on the values which are to be communicated to the selected section of consumers. Monitor the price points of competitors and price your products and services accordingly. Reduce overhead. Ted has just finished participating in the process of developing a strategic plan for the pharmacy department. “We’ve got about 10,000 packets in the robot, holding about 2,500 different lines in there, so everything from hand creams to eye drops to antibiotic products — everything is in the robot. Cadham pharmacy offers a range of additional services for its patients, including podiatry and reflexology, and has a yellow fever centre that accepts GP referrals and private business. If your pharmacy operates in a diverse community, hire staffers that can converse with customers in multiple languages. Like any business, running your own pharmacy will bring with it huge challenges, but it also has the potential to bring you great rewards in terms of money, life style, freedom and so forth. He explained that staff make appointments for flu vaccinations for patients on the street, which then brings them in to the pharmacy. His pharmacy offers patients an anticoagulant service and a sexual health service. Reach out to physicians and local clinics and ask what you can do to be a better partner in the delivery chain of healthcare services. These patients have not filled a prescription at your pharmacy in the last four months. 2) Invest in training: It will take more than a few pointed questions to find success. For more information please take a look at our terms and conditions. “Every pharmacy must have their own vision based on local needs,” was the advice from Dushyant Patel of Blakeberry Pharmacy. The robot also drives footfall to the pharmacy, Patel mentioned. Cookie policy: This site uses cookies (small files stored on your computer) to simplify and improve your experience of this website. Don’t be afraid to ask the patient to assist you in keeping expensive and rarely used drugs off your … PBMs typically specify in each reimbursement contract with a pharmacy the measures that they will use to evaluate the pharmacy’s performance. This is so that you can outline properly what your pharmacy is all about, the type of services and drugs you would be providing, how the business would be operated, as well as the problem it would help solve for the community and society you serve. Included in the 5-year plan is a goal for the department to develop and implement specific clinical pharmacy services that help to deliver care, improve patient outcomes, and reduce spending. And we’ve still got the logo there, so that still keeps with the branding.”, Unsuitable or offensive? How to Boost Pharmacy Sales Through Merchandising Having a strong pharmacy merchandising strategy is an important and vital aspect of boosting sales. “It’s a cheap way of advertising and you build your customer relationships,” said Amish Patel. Find ways to cut overhead in your pharmacy. Building an independent pharmacy business from the ground up comes with challenges that small-business start-ups in other industries don’t experience. Writing competition 2019. Medicines safety, Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Upgrade in-app or by calling (704) 769-0540 x3 today! “So do questionnaires and get the facts from your customers, it’s amazing what they can tell you.”, She added that it is motivational for the team to receive positive testimonials from patients but feedback can also help them to focus on the constructive criticism to improve and enhance services that the pharmacy offers. RPS conference 2015, His pharmacy offers patients an anticoagulant service and a sexual health service. Sometimes coming up with pharmacy marketing ideas or a marketing business plan is rather difficult. The robot introduces efficiency into workflows in the dispensary — “so people aren’t running around” – and reduces the likelihood of a mistake being made during dispensing, he explained. Not only does this give you insight into specific ways you can increase your business, it also helps you develop solid working relationships with physicians who may be more likely to refer patients to your pharmacy. PJ mind the gap, Nutrition counseling, weight management programs, blood pressure analysis and cholesterol screenings offer customers added incentive to come into your pharmacy on a regular basis. Print written material and ads in other languages and promote the fact that you serve a diverse demographic. Attend health fairs, and offer low-cost health flu shots, sports physicals, immunizations and other specialized services to raise community awareness of your business Each of these tips can help improve pharmacy workflow and positively impact your bottom line. Potential Winbacks. Learn more about how this can change … Pharmacy technicians, They’ve been serving the local communities for generations. In particular, promote things you provide that your competitors don’t. Mistakes happen when things get hectic behind the pharmacy counter. Other ways you can make your pharmacy more convenient for patients include adding a curbside pickup option or delivering prescriptions to busy or homebound patients. Improve the customer experience; Word-of-mouth can be one of the best ways to win new customers, for any business. Pharmacy employees are being forced to consider the meeting of rigorous performance standards, cost-cutting, and an ever-increasing push by customers to have fast service. Pharmacies are a vital link between doctors and patients. Amish Patel believes that considering local needs is one major advantage that independent pharmacies have over multiples. Brown said she had to think about what her customers wanted from their pharmacy. “We’ve always toyed with the idea of branding them the same. Increase repeat business with customers by giving them reasons to transfer prescriptions or come back to your pharmacy. So how does someone start a pharmacy business? Many people are tired of the chain pharmacies and want more of a personal feeling. Offer a customer rewards program, such as discounted merchandise or other perks for those who regularly refill prescriptions at your location. Every cent you spend on overhead is one cent less you get to take home. Innovation inspiration. Offering insight, wisdom, and strategy, Lester is an esteemed voice in pharmacy business. These two sentences explain why creating the best customer experience possible at your pharmacy is pivotal to the success of your marketing campaign. Some parts of the site may not work properly if you choose not to accept cookies. Revalidation advice, Healthy new year, Learn how to implement new strategies and technologies to improve productivity, drive revenue and stay ahead of the game. Learn about the day-to-day activities of an online pharmacy owner, the typical target market, growth potential, startup costs, legal considerations, and more! “Always look to improve your pharmacy workflow, and using your staff is a great place to start. Revalidation, Coronavirus, Create Valuable Content. Every pharmacy needs something from each bucket these days to be successful.” In other words, by making smart use of advanced digital solutions, independent pharmacists can improve several areas of their business. 1. Review and understand all payer performance requirements. “You’re there in the community, so you’re able to see what’s happening,” he explained. Here are some of the business areas that see the biggest improvements with the use of technology: Adherence RPS conference 2016, For commenting, please login or register as a user and agree to our Community Guidelines. Revalidation career, Supermarket News: Promotion, Marketing Key to Pharmacy, Clinic Profits, Pharmacist.com: Using Relationship Marketing to Expand Pharmacy Services. Offer services that make it easy to do business with you. 1. Arguably the greatest benefit of running a business like a pharmacy is that you get to do something that you like and earn more doing it. Lester helps his clients increase patients and profits in spite of the 3rd party payment fiasco. Celebrate the “holidays” These values should reflect the nature of the business and serve to establish a strong bond with consumers. So we thought we’d embrace the brands, have a little bit of differentiation between each pharmacy and offer localised services.” Sharmans pharmacy offers specialised skincare and premium cosmetics, Carter Chemist and Ability pharmacy offers a range of mobility products and Ross Pharmacy provides patients with a range of clinical services, Patel explained. She is also the author of several nonfiction trade publications, and, in 2012, had her first young-adult novel published by Glass Page Books. Selling a pharmacy can be a minefield but help is at hand in a new book from pharmacy sales expert Anne Hutchings. Winner 2019, Regularly survey consumers to find out what they want and need and refine your offerings according to feedback. “We decided to do away with the name [Hodgson] and put the ‘pharmacy’ in big. Strategies of Business Development in the Pharmaceutical Industry. In addition to having a website with online ordering capability, Brown advertises on local newsletters and has advertised her flu vaccination services on local radio. Update: At PDS 2020 we launched the latest innovation in independent pharmacy, Service-Based Pharmacy. Digital pharmacy, These brands have been in the town — Sharmans, for 115 years, Carter [Chemist and Ability], for 85 years, and Ross Pharmacy for more than 65 years. 1. After opening his pharmacy in 1981, he experienced periods in which he felt like he was merely persevering by putting in 60-hour work weeks and a lot of sweat. You will be re-directed back to this page where you will have the ability to comment. With a small, independent pharmacy business, the pharmacists can get to know their clients, and the clients can feel a bit more confident that they are being taken care of. A powerhouse in the world of independent pharmacy, Lester offers free business resources for Pharmacy Owners on his website, ThePharmacySage.com. However, there are many other things you can do to increase business, including improving patient and physician relationships, offering ancillary services and providing exceptional levels of customer service. Six of the 10 largest drugs companies are in … Potential Winbacks are automatically identified in iMedicare. + + All four pharmacists highlighted the importance of getting the right message across to their patients. “Never let them get away by saying ‘I’ll get back in touch with you,’” he added. Bernadette Brown, of Cadham Pharmacy in Glenrothes, Scotland, explained that her three daughters also work in her pharmacy. Assign and incent technicians to manage a pharmacy bay for slow movers and short or outdated drugs and return them to manufacturers promptly to free up cash. Wellbeing corona, You get the idea. Ebola 2014, I’ve got three drawers of stock that isn’t in the robot,” he noted. 2016 PBA Health Conference & Business Seminar, June 24-26, 2016 in Kansas City, Mo. She said: “We have the added edge on multiples in terms of being able to build long-lasting sustainable relationships with our customers.”. “There’s no point in me introducing things if they don’t want it,” she reflected. Cookies are small text files stored on the device you are using to access this website. Non-drug interventions, We are here to help you create an advertising or marketing plan for your pharmacy. “People still just come in to watch the robot and love the fact they can see the conveyor belt moving and see the drugs coming down the spiral — they are not bored of it yet and neither are the staff.”. Check out these 15 ways your pharmacy can increase its profits. Depression, For example, drive-through prescription drop-off windows, online ordering options, delivery services, text message refill reminders and e-newsletters can all help you gain new business. Not sure where to begin? Ask pharmacy staff to take a step back and observe all your pharmacy’s key processes. Alternative careers, This could mean stocking an array of healthcare products and supplies or specializing in key areas such as heart health or diabetic care. On this page, you’ll find videos and other digital content centred around pharmacy business and innovation. McQuerrey's work has garnered awards from the U.S. Small Business Administration, the International Association of Business Communicators and the Associated Press. The following are some easy ways pharmacies can work toward improving their overall level of efficiency, even the midst of major challenges. Learn about the day-to-day activities of a pharmacy owner, the typical target market, growth potential, startup costs, legal considerations, and more! That way, you can’t miss us — you walk out of the surgery and we’re right in your face. Our guide on starting a pharmacy covers all the essential information to help you decide if this business is a good match for you. You can also incorporate a loyalty rewards program into the app, which will boost your retail pharmacy business with consistent and loyal patients. Consider other things that are important to consumers, such as customer service, reduced wait times, quick response to refills and the ability to get advice and recommendations from your pharmacists. What steps are you taking to improve your health today? Hodgson pharmacy in Kent has had a dispensing robot for two years, which has had a myriad of benefits, according to owner Amish Patel. Are you ready to start marketing your pharmacy business using social media? Ebola outbreak 2014, RPS conference 2014, What necessities are missing from your medicine cabinet? Nutrition counseling, weight management programs, blood pressure analysis and cholesterol screenings offer customers added incentive to come into your pharmacy on a regular basis. All pharmacies have the same primary business model, which is filling patient drug prescriptions. Improve their health and increase your profits. Now brainstorm with your pharmacy staff to come up with some more great questions. However, we’ve always come back to the same thing. We have five tips to get you started and keep it going. Attend health fairs, and offer low-cost health flu shots, sports physicals, immunizations and other specialized services to raise community awareness of your business. Report this comment. A powerhouse in the world of independent pharmacy, Lester offers free business resources for Pharmacy Owners on his website, ThePharmacySage.com. Overhead costs eat up independent pharmacy profit. Offering insight, wisdom, and strategy, Lester is an esteemed voice in pharmacy business. Make yourself a resource for customers by offering free health clinics. Things like monitoring cash flow consistently, utilizing social media for marketing, and recognizing your strengths while asking for help in areas that are less so can help you focus on improving areas of your business that offer the biggest gain. Use these simple strategies to help you think like an innovator. Promote Your Pharmacy Business with 5 Easy Ideas. Staffing, purchasing, inventory control and automation are the key areas where you can find ways to improve. Consumers choose a pharmacy based on factors such as location, operating hours, quality of service and convenience. PDS also paved the way for Illan to enjoy more quality time with his family. 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