The hand-wringing over what it takes run a sustainable pharmacy business is already in full view. By and large, independents of every stripe face a daily onslaught from declining margins and increasing competition. As a general rule, customer loyalty has become less reliable than ever before. Even more disconcerting is the fact that key relationships between prescribers and their pharmacy partners have begun to erode.
Does that mean the end of the road? …Not by a long shot.
At Benzer Pharmacy, we believe that with every problem comes an opportunity to make a turn for the better. It may be easier said than done. But we’ll say it here, so we can work to get it done … together. Here are a few places to start:
Power to your partnerships.
Look at the number and breadth of local prescribing family care physicians in your region. Have you entered into working relationships with those closest to you? If not, it’s time to reach out and start a program that bridges the gap between your pharmacy and new patients.
Stop making gut-level decisions.
Leadership is a lonely endeavor, but never shut yourself out from data that can help you make more informed decisions. Your biggest profit centers may turn out to be those driven in select, low volume scripts. Use data insights to your advantage, and your gut to order lunch.
Promises made. Promises kept.
An independent pharmacy is unlike any other business in that its first promise must be to ensuring the best possible outcome for patients. Think of it as a strategic, rather than strictly financial decision, and you’ll earn greater loyalty from your customers, as well as repeat business.
Business remedies in alternative therapies.
Therapeutic optimization is a relatively new concept, but it can have immediate and positive impacts on your bottom line. Not every alternative fits neatly into a desired check box. Look for ways to go above and beyond by suggesting options apart from those “off the shelf.”
Negotiate your way to greater buy-in.
Benzer Pharmacy can really help you with this one. As the leading voice on behalf of a growing chain of independents, we know how valuable collective buying power can be for the individual entrepreneur. The more you combine assets, the bigger the upside across the board.
Perfect your “bedside” manners.
Medication delivery roles previously performed exclusively by onsite pharmacists in the hospital setting are changing. In the new model, local pharmacies are filling scripts and delivering medications to patients at bedside before discharge. Benzer is one of them. Turn to us and we can help you create a bedside delivery program of your own.
Change your mindset, it matters.
Spinning your wheels on the small things can throw any business off balance. Too often, we see many independents doing things in a certain only because that’s the way they’ve always been done. Chances are, our business consultants can help you turn the corner.
From the Benzer Pharmacy perspective, when you look at what’s now commonly referred to as the Healthcare Triad—the Art, Science, and Business—of Healthcare, it’s no surprise that the last item in the list is the first one that needs to be accounted for, both figuratively and literally.
The Art and Science? Well, we’ve got a grip on those as well.
It’s just good business.