Investing in a pharmacy point-of-sale system (POS) system can seem overwhelming. You might fear spending too much and not receiving enough in return to counterbalance what you spent. It’s because of these thoughts that many pharmacies select the cheapest POS system. However, spending less won’t get you to where you really want to go. The reality is that an inexpensive POS system will not provide returns or help your pharmacy grow. A higher investment in a POS system, however, can yield higher returns for your pharmacy. Here’s how:
Believe it or not, your data can make or break your bottom line just by the quality of it. Better data will give you insight into your pharmacy’s overall health. It’s important to know which products are selling more than others; which products offer the best return on investment; and the products that perform the worst. You can also learn when your store is busiest, the products that are selling under your target margin, and much more.
Every transaction that you make goes through your POS system, and the date that’s collected there is invaluable. That is, if it’s presented in an easy-to-understand format and you can access it.
Be More Customer-Centric
Your POS system works for you. Every transaction in your pharmacy goes through the register. For example, when you sell medications that are known to cause nutrient depletions, unified notifications make it easy to recommend the right supplement during checkout.
Don’t forget to offer a well-planned and targeted promotional program for your patients. You can also up the ante by offering digital couponing. This will help keep your patients coming back.
When your employees are happy, they will perform better than those who aren’t. Having a POS system makes their jobs easier so they can focus on customers. When they know there will always be someone they can call on for help with questions and problems that pop up, they’ll feel more confident.
As a pharmacist, flexibility is important. A one-size-fits-all approach can’t work for every pharmacy because the pharmacy business is always evolving. Flexibility is important, so spending your money on a solution that’ll grow and adapt with your ever-changing needs will save you so much down the road.
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.