Before you can improve your independent pharmacy profit margins, you need to know how to calculate them. Here’s how to measure pharmacy margins.
Business
How to Make Your Pharmacy More Convenient for Patients
The best businesses make their customers’ lives easier—not harder. And it’s no secret that most patients value convenience. Take a look at your pharmacy from your patients’ perspective. If using…
How to Increase Pharmacy Profits from Vaccine Co-Administration
Is your pharmacy taking full advantage of immunization services? Justin Wilson, Pharm.D., co-owner of Valu-Med Pharmacy in Midwest City, Okla., said pharmacies can still make a healthy profit margin on…
How to Grow Your Pharmacy Business With Compounding
The mortar and pestle remains the iconic image of pharmacy. But these days a picture of a packaged, manufactured drug might fit better. Once the standard pharmacy practice, compounding now…
How to Successfully Market Your Pharmacy’s Flu Shots
Flu season is here. Have you prepared your independent community pharmacy? If you want a successful flu season at your pharmacy, promote your flu shots early and often. “Immunizations—specifically flu shots—are…
25 Unexpected Ways to Monetize Your Pharmacy
Your independent community pharmacy is facing shrinking reimbursements and fiercer competition every year. No matter how many prescriptions you fill, you’re not making as much money as you hoped. Because…
Independent Pharmacy Spotlight: Valu-Med Pharmacy’s Travel Vaccination Program
As physicians stop providing immunizations and vaccinations, independent pharmacies can fill that need. And we’re not only talking about offering flu shots. Valu-Med Pharmacy, an independent community pharmacy located in…
Here Are the Pain-Free Flu Shot Alternatives Your Patients Won’t Hate
Let’s face it. Patients hate getting the flu shot. Some of them are sensitive to needles, others are scared and some don’t think the pain is worth it. Imagine how…
Here’s a Method That’s Helping Independent Pharmacies Find Their Competitive Advantage
In the pharmacy industry, competition is fierce. You can serve your patients well, feel like you’re doing everything right, and still lose them to your competitors. If it’s not the…
How Important Is Pharmacy Location to the Success of Your Business?
When you’re starting a new pharmacy (or opening an additional location), the first question is always the same. Where should it be located? You may think that if your business…
Are These Unexpected Competitors Stealing Your Pharmacy’s Patients?
What’s your independent community pharmacy’s most unexpected competition? It’s not national chain pharmacies. Or the dollar store down the road. This competition is less noticeable. While you’re busy watching the…
How to Calculate (And Improve!) Your Pharmacy Margins
Before you can improve your independent pharmacy profit margins, you need to know how to calculate them. Here’s how to measure pharmacy margins.
How to Make Your Pharmacy More Convenient for Patients
The best businesses make their customers’ lives easier—not harder. And it’s no secret that most patients value convenience. Take a look at your pharmacy from your patients’ perspective. If using…
How to Increase Pharmacy Profits from Vaccine Co-Administration
Is your pharmacy taking full advantage of immunization services? Justin Wilson, Pharm.D., co-owner of Valu-Med Pharmacy in Midwest City, Okla., said pharmacies can still make a healthy profit margin on…
How to Grow Your Pharmacy Business With Compounding
The mortar and pestle remains the iconic image of pharmacy. But these days a picture of a packaged, manufactured drug might fit better. Once the standard pharmacy practice, compounding now…
How to Successfully Market Your Pharmacy’s Flu Shots
Flu season is here. Have you prepared your independent community pharmacy? If you want a successful flu season at your pharmacy, promote your flu shots early and often. “Immunizations—specifically flu shots—are…
25 Unexpected Ways to Monetize Your Pharmacy
Your independent community pharmacy is facing shrinking reimbursements and fiercer competition every year. No matter how many prescriptions you fill, you’re not making as much money as you hoped. Because…
Independent Pharmacy Spotlight: Valu-Med Pharmacy’s Travel Vaccination Program
As physicians stop providing immunizations and vaccinations, independent pharmacies can fill that need. And we’re not only talking about offering flu shots. Valu-Med Pharmacy, an independent community pharmacy located in…
Here Are the Pain-Free Flu Shot Alternatives Your Patients Won’t Hate
Let’s face it. Patients hate getting the flu shot. Some of them are sensitive to needles, others are scared and some don’t think the pain is worth it. Imagine how…
Here’s a Method That’s Helping Independent Pharmacies Find Their Competitive Advantage
In the pharmacy industry, competition is fierce. You can serve your patients well, feel like you’re doing everything right, and still lose them to your competitors. If it’s not the…
How Important Is Pharmacy Location to the Success of Your Business?
When you’re starting a new pharmacy (or opening an additional location), the first question is always the same. Where should it be located? You may think that if your business…
Are These Unexpected Competitors Stealing Your Pharmacy’s Patients?
What’s your independent community pharmacy’s most unexpected competition? It’s not national chain pharmacies. Or the dollar store down the road. This competition is less noticeable. While you’re busy watching the…