A pharmacy business owner writes the word "growth" with a black marker on a clear board

3 Ways To Grow Your Pharmacy Business

A woman focused her pharmacy business writes the word "growth" with a black marker

Most pharmacy owners aspire to grow their business. They aim to become more profitable, increase their customer base, and/or add locations. By purchasing a pharmacy POS system, they take a big step toward achieving those goals. POS systems can help a pharmacy business boost efficiency, lock down processes and workflows, and also decrease the possibility of human error. And these are all good ways to get the profit margin trending in the right direction.  

But, for many pharmacies, that might be where growth stops. Limited time and resources, along with some external factors beyond a business leader’s control can inhibit pharmacy business growth. Fortunately, the following three steps will help pharmacies enhance their day-to-day operations and eventually lead to overall company growth. Check them out here: 

 

A reserved for curbside pickup sign is an essential part of any successful pharmacy business

Expand Your Service Area

It’s entirely possible to serve a larger number of customers without adding a new location or knocking down walls to make more room in your pharmacy. Instead of spending millions toward physical expansion, savvy pharmacy owners can instead prioritize curbside service. In fact, many hospital outpatient pharmacies have already adopted this concept to improve patient care and boost business by delivering prescriptions bedside prior to discharge.

 For independent pharmacies, curbside pickup can be accomplished by simply reserving a parking space or two in front of the store for prescription pickup. In either scenario, RMS’ EvolutionPOS V2 Tablet can be a helpful tool for ensuring smooth transactions. This tablet guarantees your team members won’t have to run back and forth to process payments or grab receipts. Rather, employees can take the prescriptions and their tablet to the patient and process the transaction from start to finish right there. This is a valuable service to patients and we expect that more businesses will begin to offer these kinds of services. 

(NOTE: curbside transactions have only become more important during the current COVID-19 pandemic. If your pharmacy still doesn’t have a plan for curbside transactions, then you need to create one ASAP.)

Focus on Key Products

An easy way to stimulate growth is to focus on a specific category of products in your pharmacy and figure out how to increase sales for those items. Maybe it’s not possible to do this for all of your products, but we know at least one way that you can make it crazy easy to boost supplement sales. Enter the RMS interface to Ortho Molecular Products’ Digital Replete Solution. Here’s how it works: Some prescription drugs can cause potential side effects related to nutrition depletion. When a pharmacist completes such a prescription, the interface connects to the Ortho Molecular database and makes recommendations on supplements that a patient should take to counter the potential side effects of nutrient depletion. 

Best of all, this service is a free add-on service to all RMS customers who stock the Ortho Molecular line of supplements. With little-to-no additional effort on your part, you’ll be able to increase sales on high-margin supplements.

Take Care of Your Customer Base

 Every time you expand a service or add new products, you are giving your customers a new reason to shop with you. But what keeps them coming back over a long period of time? This is where customer loyalty programs come into play. Rewards and coupons encourage customers to return to your pharmacy, which means you can focus on adding new customers instead of strictly worrying about retaining your current base.

Contact Us

Growing your pharmacy doesn’t need to involve big risks or alterations. Small tweaks with the right technology applied can prove incredibly effective and cost-efficient. At RMS, we specialize in providing innovative tech solutions to support pharmacies looking to upgrade their internal processes. We have the experience and the resources to help your organization, so contact us here today to learn more!

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