Large multiples and independent pharmacy owners need to change their practices to focus more on profit. As the digital era moves forward, it is becoming more and more important for pharmacies to re-engineer their business practices and streamline their operations. We are going to highlight some small strategies that can be used to cut costs, increase profits, and improve your bottom line.
A new era of digital
The means for everything to be on-demand is becoming more and more important. There is more pressure on companies to get rid of the old to keep up with the new. As companies move away from paper-based processes and clunky filing systems, a change of operational procedures is surely at the forefront of your mind.
As community pharmacies come under increasing financial pressure, and as we now exit (what we hope) is the end of the COVID-19 pandemic, it is worth giving some thought to how to boost sales of over-the-counter (OTC) medicines and products to increase much-needed revenue. This is made easy by investing in new automated systems that can provide your staff with an on-demand rota system which they can use, reducing your risks of store closure due to short staffing issues. By spending money on automating activities, you can free up time for your staff and yourself. Thankfully, there are plenty of ways to automate your activities and our software can show you how.
Make everyone a salesperson
From telephone to face-to-face meetings, every employee can spread your company's message and engage in sales-generating behavior, whether this is someone collecting a prescription, or someone coming in on the retail end, looking for suncream and makeup. Everyone needs to pitch in to help cut costs and upsell products. If you can get your employees invested and motivated to sell your products by encouraging self-development or even just by simply providing them with some form of responsibility or autonomy, you'll be well on your way to creating a pharmacy that is built around increasing profits and maintaining stability.
Remember, it pays dividends to reward your employees with a seamless experience, reducing stress for them and allowing them to plan ahead.
A business strategy creates a vision and direction for the whole organisation. All people within the pharmacy must have clear goals and are embracing and following the direction, or mission of the pharmacy. A strategy can provide this vision and prevent individuals from losing sight of their company's aims. Maintaining staff is important and so, by motivating your employees with the option of having additional responsibility, will help your business grow long term.
Our centralized reporting product allows you to view your reports in a visually appealing way, with a well constructed and laid out dashboard which you can tailor to your individual pharmacy. You can use this to create your strategy and share it with your team so that everyone is motivated to accomplish the same goal and everyone feels included.
If you would like to learn more about how you can invest in technology that will help you to increase pharmacy profits and stability, you can complete the below form: