Efficiency
What the Right Data Can Do For Your Pharmacy
Have you ever noticed that Google seems to know exactly what you’re looking for? If I type in a variety of food for example, it doesn’t give me...
If you're not... you're really missing out! Let's take a dive into some real-life pharmacy data & explore the value a good point-of-sale system beholds.
At a recent pharmacy conference, we asked pharmacists this:
“What data do you get out of your point-of-sale system?”
The answers were all variations of, “I don’t know,” or “Not enough,” or sometimes even, “Nothing.”
We talk regularly about the power good data holds, and why point-of-sale is the logical (and really only) place to source it from. But not every pharmacy has access to a level of data comprehensive enough to find value in it. In other words, they might not be utilizing point-of-sale data because they don't know what they're missing.
Today, we'll take a dive into some real-life point-of-sale data from a real-life RMS customer - showing you just a slice of the granular detail an RMS system can provide to unlock a whole approach to running your pharmacy business.
Gross Margin
Gross margin is your gross profit divided by total sales. It measures the amount of gross profit generated as products sell. While it's not the most telling metric, it is a good place to start if you can't source more detailed data within your current system.
| Department | Sales | Cost | Gross Margin | % Margin |
| OTC | $64,794.58 | $34,289.71 | $30,504.87 | 47.08% |
| HBA | $40,531.29 | $21,194.72 | $19,336.57 | 47.71% |
| Gifts | $43,205.81 | $24,786.42 | $18,419.39 | 42.63% |
| DME | $28,430.19 | $15,487.24 | $12,942.95 | 45.53% |
| Seasonal | $12,109.95 | $9,166.71 | $2,943.24 | 24.30% |
| TOTAL/AV. | $189,071.82 | $104,924.80 | $84,147.02 | 44.51% |
Turns
As the name implies, turns are the number of times you turn your inventory during a given period of time. This metric helps you stock more effectively.
| Department | Sales | Cost | Gross Margin | % Margin | Average Inv Value | Turns |
| Seasonal | $12,109.95 | $9,166.71 | $2,943.24 | 24.30% | $1,437.81 | 6.4 |
| DME | $28,430.19 | $15,487.24 | $12,942.95 | 45.53% | $2,884.91 | 5.4 |
| HBA | $40,531.29 | $21,194.72 | $19,336.57 | 47.71% | $5,746.69 | 3.7 |
| OTC | $64,794.58 | $34,289.71 | $30,504.87 | 47.08% | $18,462.16 | 1.9 |
| Gifts | $43,205.81 | $24,786.42 | $18,419.39 | 42.63% | $28,789.15 | 0.9 |
| TOTAL/AV. | $189,071.82 | $104,924.80 | $84,147.02 | 44.51% | $57,320.72 | 1.8 |
Gross Margin Return on Investment (GMROI)
GMROI is one of the most valuable and insightful metrics you can have. GMROI is the gross profit divided by the average inventory cost, and it gives you the amount returned on every dollar invested in your inventory.
| Department | Sales | Cost | Gross Margin | % Margin | Average Inv Value | Turns | GMROI |
| DME | $28,430.19 | $15,487.24 | $12,942.95 | 45.53% | $2,884.91 | 5.4 | 4.49 |
| HBA | $40,531.29 | $21,194.72 | $19,663.57 | 47.71% | $5,746.69 | 3.7 | 3.36 |
| Seasonal | $12,109.95 | $9,166.71 | $2,943.24 | 24.30% | $1,437.81 | 6.4 | 2.05 |
| OTC | $64,794.58 | $34,289.71 | $30,504.87 | 47.08% | $18,462.16 | 1.9 | 1.65 |
| Gifts | $43,205.81 | $24,786.42 | $18,419.39 | 42.63% | $28,789.15 | 0.9 | 0.64 |
| TOTAL/AV. | $189,071.82 | $104,924.80 | $84,147.02 | 44.51% | $57,320.72 | 1.8 | 1.47 |
Ready to learn more about point-of-sale data and all the ways it can help your pharmacy thrive?
Let's get you scheduled for a one-on-one consult & customized product demo!
