Without ado, here are the most popular articles of 2021.
1. The Real Reason Pharmacy Profit Margins Are Declining
By now, everyone in the industry understands the woes of independent pharmacy: below-cost reimbursements, sky-high DIR fees, PBM steering, lack of provider status.
But there’s one statistic that doesn’t make headlines. A statistic that tips the profit pendulum. Most importantly, a statistic that pharmacies can actually control.
2. 6 Steps to Convince Patients to Switch to Your Pharmacy
As an independent community pharmacy, you already offer distinct benefits to patients that big box stores and national chains just can’t match. Promoting these advantages is key not only to maintaining relationships with current patients but also to building new ones.
3. Pet Medicine Is a Treat to This Pharmacy’s Business
When Micheal LeMasters began offering veterinary medicine 10 years ago, he didn’t know of any other community pharmacies doing it. And even now, he wonders why more haven’t hopped on board. ″There’s a ton of opportunity out there for pharmacies. If you aren’t doing it, why not?″
4. How to Create a Customer Loyalty Program
Rewards have a powerful impact on how people shop — a recent study found that potential incentives always or often sway where 75 percent of people shop. By launching a loyalty program, you can capture that fervor for rewards. Here’s everything you need to know to get your customer loyalty program off the ground.
5. How to Calculate Opportunity Costs for Your Pharmacy
By assigning a specific dollar amount to your choices in the pharmacy, you can make a more informed decision than if you simply used a pro-and-con list. To make financially savvy decisions about your independent pharmacy’s business, learn how to calculate opportunity costs and when to apply those calculations.
6. Choosing a Niche: 5 Things for Your Pharmacy to Consider
Every pharmacy owner knows it takes a lot more than dispensing medications to sustain your business. Increasing vertical integration and sky-rocketing DIR fees are forcing pharmacies to pivot to alternative revenue streams.
7. How to Achieve Peak Performance in the Pharmacy
In their book Peak Performance, consultant Brad Stulberg and performance coach Steve Magness use new scientific insights to explore how people can perform at the top of their game without hitting a wall. Here are the most important lessons from the book that you can apply to your pharmacy today.
8. 10 Fundamental Business Strategies to Grow Your Independent Pharmacy
Whether you just opened your first independent community pharmacy or you’ve been in the business for years, having a solid business strategy is essential to growing your pharmacy.
9. 10 Things That Are Holding Back Your Pharmacy Website
These days, having a pharmacy website isn’t optional. Put your best foot forward with your website, and look out for these 10 common website mistakes that could be holding back your business.
10. Paxlovid and Molnupiravir: What to Know About the New Covid-19 Oral Antivirals from Merck and Pfizer
Drugmakers Merck and Pfizer are both on the verge of bringing oral treatments for SARS-CoV-2 to market, and patients with Covid-19 will have an option for early interventions that dramatically reduce the risk of death and hospitalization. How do they work, and how do they stack up against each other?
