Like many other small businesses, independent pharmacies often struggle to stay in business when competing against larger, corporate entities. Many of the pharmacists behind independent pharmacies need to expand their business practices if they hope to stay afloat financially. Read on for four tips pharmacy owners can follow to stay in business.
Create Patient Portals
Small pharmacies need to build a loyal group of clientele from the community. As many customers may not think twice about frequenting a small pharmacy over a larger, more established company, independent pharmacies need to do all they can to engage their patients. One of the most effective ways pharmacies can attract customers today is to simplify the process of filling a prescription. With patient portals, pharmacies are able to strengthen their relationships with clients by giving them a hassle-free experience of handling prescriptions online.
Offer Online Scheduling
Just as pharmacies should use the Internet to simplify the prescription filling process, offering online scheduling is another effective way to keep clients coming back to an independent pharmacy. Many clients dread having to wait in long lines at some of the more well-known pharmacies to receive vaccinations, flu shots, or for medication reviews. With online scheduling available at their local independent pharmacy, patients will be able to make an appointment and skip the line altogether.
Participate in Clinical Studies
Pharmacists have long since been involved in coordinating various aspects of clinical trials as they offer independent pharmacists another outlet for earning more money. By having a hand in the R&D phase for new medications for a Full Service Clinical Research Organization, pharmacists can earn money with clinical research. Using their vast knowledge of chemical compounds and patient care, pharmacists add another dimension to clinical trials while keeping their pharmacies in business.
Partner with Hospice Care Organizations
Another effective way for independent pharmacists to generate revenue is to partner with hospice care organizations. Working with these organizations makes it easier for pharmacists to treat their patients more holistically rather than on a case-by-case basis. By handling all patients’ pharmaceutical needs rather than simply taking responsibility for their palliative care, pharmacists can take better care of each patient. This way, patients are able to rely on just one pharmacy, rather than having their prescriptions filled with multiple pharmacists that may not be completely aware of every patient’s records.
Independent pharmacists are staples in their community. Make sure your small pharmacy stays in business by putting these four tips into practice.
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