These values should reflect the nature of the business and serve to establish a strong bond with consumers. He explained that staff make appointments for flu vaccinations for patients on the street, which then brings them in to the pharmacy. For more information please take a look at our terms and conditions. In the third of 12 monthly extracts, Anne explains how you can improve the sale value of your pharmacy. Non-drug interventions, “Never let them get away by saying ‘I’ll get back in touch with you,’” he added. 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 … Your independent pharmacy must know how it’s being measured if you want to know which areas to focus on. PJ mind the gap, According to the World Health Organization, the global pharmaceuticals market in 2013 is estimated at $300 billion annually. 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. Source: Emma Page / The Pharmaceutical Journal. A positive experience can turn a one-time visitor into a regular customer. A plan that will help you grow your business, get patients to switch, and increase prescription sales. In particular, promote things you provide that your competitors don’t. 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. How to Boost Pharmacy Sales Through Merchandising Having a strong pharmacy merchandising strategy is an important and vital aspect of boosting sales. 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. Supermarket News: Promotion, Marketing Key to Pharmacy, Clinic Profits, Pharmacist.com: Using Relationship Marketing to Expand Pharmacy Services. 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. 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. Join ethnic chambers of commerce to promote your pharmacy to target audiences. RPS conference 2016, “Always look to improve your pharmacy workflow, and using your staff is a great place to start. In 1994, she launched a full-service marketing and communications firm. They’ve been serving the local communities for generations. “There’s no point in me introducing things if they don’t want it,” she reflected. Subscribe to our free alerts. 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. Medicines safety, Here you will find blog posts about the profession and on issues that affect practice, #PJMindTheGap, Want to keep up with the latest news, comment and CPD articles in pharmacy and science? Reduce overhead. Make yourself a resource for customers by offering free health clinics. 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. 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. Many people are tired of the chain pharmacies and want more of a personal feeling. He explained that he invests in staff training to ensure that they have the right qualifications and to give them a sense of achievement. Monitor the price points of competitors and price your products and services accordingly. Learn about the day-to-day activities of a pharmacy owner, the typical target market, growth potential, startup costs, legal considerations, and more! 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. Winner 2019, Patel also uses the shop itself to attract attention, because he received feedback that people were not aware that Hodgson was a pharmacy, despite the fact it is located opposite a GP practice. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. On this page, you’ll find videos and other digital content centred around pharmacy business and innovation. 4. Attend health fairs, and offer low-cost health flu shots, sports physicals, immunizations and other specialized services to raise community awareness of your business. Amish Patel believes that considering local needs is one major advantage that independent pharmacies have over multiples. Increase repeat business with customers by giving them reasons to transfer prescriptions or come back to your pharmacy. Amish Patel believes that considering local needs is one major advantage that independent pharmacies have over multiples. “We decided to do away with the name [Hodgson] and put the ‘pharmacy’ in big. Are you ready to start marketing your pharmacy business using social media? Overhead costs eat up independent pharmacy profit. For more information on how to compete in the pharmacy market, download this free ebook 3 Ways to Compete in the Pharmacy Market. All four pharmacists highlighted the importance of getting the right message across to their patients. Alternative careers, “We’ve always toyed with the idea of branding them the same. What necessities are missing from your medicine cabinet? Each of these tips can help improve pharmacy workflow and positively impact your bottom line. Lisa McQuerrey has been a business writer since 1987. Best of the rest 2019, Every cent you spend on overhead is one cent less you get to take home. Not sure where to begin? All pharmacies have the same primary business model, which is filling patient drug prescriptions. Innovation inspiration. Now brainstorm with your pharmacy staff to come up with some more great questions. She said: “We have the added edge on multiples in terms of being able to build long-lasting sustainable relationships with our customers.”. What steps are you taking to improve your health today? 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. 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. Learn more and register to attend at pbahealthconference.com. 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Long-term conditions, 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. Staffing, purchasing, inventory control and automation are the key areas where you can find ways to improve. “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.”. This could mean stocking an array of healthcare products and supplies or specializing in key areas such as heart health or diabetic care. Improve their health and increase your profits. 2016 PBA Health Conference & Business Seminar, June 24-26, 2016 in Kansas City, Mo. You will be re-directed back to this page where you will have the ability to comment. Rikin Patel owns three pharmacies in Northwood, London — each has separate branding. Create Valuable Content. At Hodgson Pharmacy, staff members take to the village high street to promote specific services. Some parts of the site may not work properly if you choose not to accept cookies. 1. Learn about the day-to-day activities of an online pharmacy owner, the typical target market, growth potential, startup costs, legal considerations, and more! Nutrition counseling, weight management programs, blood pressure analysis and cholesterol screenings offer customers added incentive to come into your pharmacy on a regular basis. To increase business, you can also incorporate a loyalty rewards program such! $ 300 billion annually small text files stored on the street, which will boost your retail business. More of a personal feeling make appointments for flu vaccinations for patients on the street which. Them the same thing increase patients and profits in spite of the 10 drugs! And observe all your pharmacy ’ in big by giving them reasons to transfer prescriptions or back! 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