Calling all pharmacy owners who want to gain new patients! Promotional products can be a highly effective tool to help you grow your pharmacy profits and add new patients to your pharmacy. It’s no secret that marketing and promotional strategies can go hand in hand. Using promotional products to promote your pharmacy is key to […]
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Pharmacy profit doesn’t have to be elusive. Many proven strategies will help you serve your patients better and increase your pharmacy’s profit. You will need to choose which one(s) to focus on and then go all-in on them to increase pharmacy profit. One of my favorite pharmacy profit niches is worker’s compensation prescriptions. It is
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Have you ever wondered who your pharmacy’s biggest competition is? The answer is not the big box across the street or the popular online pharmacy. Instead, it is much closer to home. Just take a look in the mirror. Internal barriers are much more potent than anything external. As the pharmacy leader, you need to
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Reduce the everyday stress of checking your bank account and increase your pharmacy’s days of cash on hand! Talking about cash on hand isn’t very sexy, and many pharmacy owners prefer to skip over this critical topic. It is much more exciting to talk about supplements, PGx testing, or getting more efficiency from your employees.
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…testing to show patients what they need and know you are individualizing their care. Some of my favorites are the Pharmanex antioxidant scanner and the Berkeley Life Professional nitric oxide…
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Having a thriving, successful pharmacy means you need to take an active approach to your pharmacy profit. Being average will not keep you in business – that’s what I always say. You need to be awesome! To succeed in the pharmacy world, you are continuously implementing new ways of doing things, and with the ever-changing
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Your pharmacy marketing should pay for itself! If you’re bleeding money in your marketing department, it’s time to revisit and realign your strategy. Don’t let your pharmacy marketing be a drain on your cash flow. You can stop worrying about marketing budgets being expensive. Instead, turn leads into customers and make money continuously. It starts
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If increasing pharmacy profit is a goal, you need a lower COGS. What Is Cost Of Goods Sold (COGS)? The cost of goods sold (COGS) is the cost of an item or service that you sell. For pharmacies, it is critical to point out the COGS is NOT COGB (cost of goods bought). Because pharmacies
What will your pharmacy look like in 5 years? You create your future by setting a pharmacy vision and planning your pharmacy goals. Bring your pharmacy vision, dreams, and goals to life! Setting a pharmacy vision and goals for your business is essential to creating profit and success. Knowing where you want to go provides
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Profit is the key to staying in business. Understanding the types of pharmacy profit and what it isn’t will be critical to your pharmacy’s success. What Profit Isn’t Profit is not cash in your bank account, at least for most pharmacy owners. Remember this equation Profit ≠ Cash, and the reverse is true Cash ≠