Pharmacogenomics is the study of how genes can affect a person’s response to a drug. As its name indicates, it is a combination of pharmacology and genomics. Pharmacogenomics testing, also known as drug-gene testing, can identify what medications will be safe and effective for an individual, in an effort to improve treatment outcomes. Medication dosages can also be tailored based upon testing results.
Pharmacies are busy environments, even hectic at times. To prevent employee turnover and burnout, pharmacy owners and managers must find ways to motivate their team members and keep them engaged.
When working toward the profitability goals for your pharmacy, you’ll want to take full advantage of your data. As time allows, review your customer and product information for specific opportunities to elevate pharmacy profits.
Though a pharmacy’s front-end sales may appear minimal in comparison to prescription sales, front-end contributions cannot be overlooked because they play a role in total profits. Front-end sales can come from the product categories of OTC, health and beauty, wellness, and general merchandise. Boost your front-end sales this year.
Attending conferences can be highly beneficial as a pharmacy owner or a pharmacist. You arrive at the conference eager to soak in new ideas and ready to network. You also want to return home with the knowledge to implement the concepts that suit your goals. So how can you make the most of your conference time?
Medication adherence is a win-win for the patient and the pharmacy. Customers who follow their medication schedules and refill their prescriptions on time are taking care of their health. When they adhere to their medication regimens, it also helps your pharmacy. That’s because when your customers delay or miss scheduled refills, your pharmacy revenues are affected.
Researchers in London have initiated the world’s first widespread human testing of a vaccine that they hope will protect people who are age 65 and older against influenza.
An inventory of retail pharmaceuticals requires a substantial financial investment, and properly controlling inventory will directly impact the success of the business. Unfortunately, poor inventory management is often a factor in pharmacies having low margins.
Marketing often focuses on getting new customers in the pharmacy door. Of course this is critical, but you also want to retain your existing customers. By treating your “regulars” with higher level customer service and responding quickly to their issues, you can build a foundation of loyal customers.
A few steps toward cost reduction and enhanced profits can make a difference for your pharmacy’s bottom line over time.
Sell, Sell, Sell
Non-prescription sales add to your total revenue and have become vital to pharmacy success. That means you will want to have team members who enjoy the sales side of the business.