Another year has passed, and it’s time to take stock of everything you’ve accomplished. What did you do that made you proud? What do you think needs to change? It’s time to rewrite your business plan and jot down the goals you have for 2026.
It can be difficult to compete with the large chain pharmacies. They often have greater buying power, larger marketing budgets, inventory, and operational efficiency. This makes it hard for pharmacists like you to compete with convenience and price. What you can do is write out a business plan that targets personalized care, involvement with the community, and personalized services that bring a better outcome.
Once you have a business plan, remember that it isn’t something you look at only once. It should be viewed often so you know what path you’d like your pharmacy to follow. It outlines strategies and tactics to help you grow your pharmacy. It also helps you anticipate challenging times and sets milestones for measuring your progress.
The beginning of the year is an ideal time to reevaluate your company’s growth and determine if you are meeting your goals. Use this opportunity to fine-tune your strategies, anticipate potential challenges, and set new milestones for effectively scaling your business. Here’s how:
Embrace Technology
Your patients expect digital convenience, such as mobile apps for refills, text reminders for pickups, or secure portals for telepharmacy consultations. If you fail to offer these tools, you’ll risk losing patients to competitors who do. However, technology isn’t only right where you see it. Such things as inventory management systems, workflow automation, and AI-driven analytics can help simplify, reduce errors, and free up staff time so they can care for patients.
Expand Clinical Services
The accelerated role of pharmacists as frontline healthcare providers during the pandemic continues. In fact, immunizations, point-of-care testing, chronic disease management, and prescribing authority in some states are changing what it means to be a community pharmacy. Patients will expect their local pharmacy to be more than a dispenser. Instead, they’ll see it as a healthcare hub.
Financial Stability
This needs to be at the top of every pharmacy’s business plan. Providers like you are facing reduced profitability due to reimbursement cuts and unpredictable actions by PBMs. This is why you should think about joining buying groups or pharmacy services administrative organizations (PSAOs) to bump up purchasing power and negotiate better rates. One strategy to combat reimbursement challenges is to cultivate new income streams through specialized offerings like compounding specialty medications. Soon, pharmacies that rely solely on traditional dispensing revenue will see how difficult it will be to remain profitable.
Patient Engagement and Loyalty
Online pharmacies offer convenience but cannot replicate the trust and relationships that are built in local communities like yours. Therefore, it’s time to double down on personalized care, loyalty programs that reward patients for staying local, and proactive outreach. By telling your story effectively through social media, newsletters, and community events, while consistently delivering exceptional service, your pharmacy will be most successful.
Employee Growth and Engagement
Your pharmacy is only as strong as its team. Burnout in healthcare is a growing concern. To help attract and keep top talent, it’s important that you invest in competitive wages, flexible scheduling, and professional growth opportunities. Cross-train your staff to handle both clinical and operational tasks. It can also improve efficiency and job satisfaction.
Keep Up with Market Information
If you have a loyal base of customers, ask them to give you feedback about your pharmacy’s performance compared to your competitors. This is an important step. Don’t just ask for information about your own products and services. Instead, find out what their thoughts are about other pharmacies. You’ll never know if you don’t ask. You might learn that one of your competitors has introduced a new product. So, stay up to date on market trends, customer needs, and winning competitor strategies.
Don’t forget to consider regulatory and policy awareness. Legislative changes around drug pricing, PBM reform, and scope of practice are likely to accelerate in the next couple of years. If you stay informed and engaged through state associations, advocacy groups, and professional organizations, it will be easier to adapt. Business planning needs to include strategies for compliance, as well as opportunities to leverage new laws that expand the role of pharmacists.
2026 is right around the corner. If you set clear goals now, you will thrive in the months and years ahead. Embrace technology. Expand clinical services. Build financial resilience. Engage patients. Support staff. Stay policy aware. Deepen your community connections. The future pharmacy is not just a dispenser of medications; it’s a healthcare destination, a trusted advisor, and a community anchor. Plan with intention and you’ll remain indispensable well into the next decade.
2026 Business Planning Checklist for Your Pharmacy
- Adopt mobile apps, text reminders, and telepharmacy tools
- Expand clinical services: immunizations, chronic care, testing
- Diversify revenue with compounding, specialty meds, or DME
- Join buying groups or PSAOs for stronger purchasing power
- Launch patient loyalty programs and proactive outreach
- Invest in staff training, wages, and retention strategies
- Stay engaged with policy and regulatory changes
- Strengthen community ties through events and partnerships
More articles from the December 2025 issue:
- PBA Health + Speed Script = Partnership
- From Scripts to Support
- From Retail to Clinical
- A Safe Space
- Beyond the Counter
- The Rise of Menopause Clinics
- Where Your Cash Goes
- Your Pharmacy Goals for 2026
A Member-Owned Company Serving Independent Pharmacies
PBA Health is dedicated to helping independent pharmacies reach their full potential on the buy-side of their business. Founded and run by pharmacists, PBA Health serves independent pharmacies with group purchasing services, wholesaler contract negotiations, proprietary purchasing tools, and more.
An HDA member, PBA Health operates its own NABP-accredited warehouse with more than 6,000 SKUs, including brands, generics, narcotics CII-CV, cold-storage products, and over-the-counter (OTC) products — offering the lowest prices in the secondary market.
