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Amplify your Pharmacy’s Prescription Performance

Strategies for Turning up your Pharmacy’s RX Volume 

Volume is king in the pharmacy business. As a reult, pharmacies filling more prescriptions and those focusing on growing their incremental fills are more successful than those that carry the belief that filling more prescriptions is too costly. However, not all prescriptions are equal and the days of filling any medication without question or consideration are over. 

INCREASE YOUR VALUE TO YOUR CUSTOMERS 

When you want to increase your customer volume, consider what you are offering to them that makes you unique from your competition. If your list of discriminators (specific services, offerings, or products that sets your store apart from your competition) is shorter than you’d like it to be or simply nonexistent, it’s time to go shopping. 

Make some time to visit pharmacies near you and make note of what they are offering customers. Then consider what you can do that they are not doing. Specialty services can help you make a name for your store in your community. 

INDEPENDENT PHARMACY HIGH MARGIN SPECIALTY SERVICES: 

Compounding Medication Management Lab Testing
Immunizations  Travel Health Point-of-Care Testing
Pet Medications Health Screenings Smoking Cessation
Diabetes Care Weight loss Wound Care
INCREASING YOUR CAPACITY TO FILL PRESCRIPTIONS 

Many pharmacies are concerned about adding more demand than they can keep up with. If you fall into this camp, let it be a sign to you that you have opportunities to improve your processes. Every second you can shave over your fill processes will benefit your store and free up time to serve more customers. 

  1. Identify Patients that Struggle with Adherence 
  2. Set Aside Time to Reach out these customers 
  3. Offer to Synchronize their Medications Syncing for the Success of Your Store

These steps will benefit your processes by streamlining your filling and increase your customers likelihood to fill. 

CONNECT WITH SUBSCRIBERS TO GROW YOUR PHARMACY VOLUME 

Just like looking at competing stores, we recommend you also look at your local prescribers. Because you have care in common with prescribers, you can work together to provide improved care to your community. Consider the following steps to increase your volume through prescribers near you:

  1. Identify prescribers that you would like to referrals from 
  2. Set Aside Time to Reach out the prescribers
  3. Share your Specialty Services with them and ask for referrals for their patients with these services 
  4. Offer a mutual referral program to prescribers partners 
  5. Attend professional networking events and connect with prescribers near you 

Most stores need cash to add new services. If you are looking for cash within your store to reinvest in new services, Inventory iQ can help. Our representatives can help you understand if there may be funds in your pharmacy inventory that can converted into cash with little to no investment from you. It is our job to find the best processes for independent pharmacies to recoups funds their wholesalers and help them find best practices to improve their fill rates.  Connect with Inventory iQ now. 

MAKE MY INVENTORY SMART

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Founded in 2011, Inventory iQ gives you a smart, data driven approach to optimizing your pharmacy inventory. We’ve helped nearly 400 pharmacies realize $60K  on average in cash flow.

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Pharmacy Management Systems

Here are some of the systems we have experience managing. If you don’t see your system in the list, please let us know. We are always working towards expanding our knowledge of pharmacy management systems.