As an independent pharmacy owner, you started your pharmacy with the intent to offer better and more diverse services for your customers than the big chain pharmacies ever could. However, you may not have anticipated the challenge in determining which services were right for your pharmacy customers and the steps needed to implement these services.
Compounding in a Nutshell
Compounding is one of the most popular services available at many independent pharmacies. Decades ago, nearly all prescriptions were compounded. However, the introduction of mass drug manufacturing in the 1950s and 60s put compounding on the rapid decline. The role of the Pharmacist quickly evolved from preparer of medications to dispenser of mass-manufactured medications.
It didn’t take long though before many pharmacists and pharmacy owners discovered compounding was still very much in demand. This was largely because compounding provides the ability for customized solutions for patients and gives them access to medications they can’t obtain elsewhere. There is also the added benefit to pharmacy owners who can differentiate from competitors.
Compounding, defined, is simply preparing personalized medications, by mixing individual ingredients in the exact strength and dosage that your patient needs. It allows you to create customizable solutions for your patients, since not everyone responds well to commercially accessible medications or can take medication in the form available. They may need it in a liquid or chewable form instead of a pill or vice versa.
Benefits of Offering Compounding
For your customers:
- Giving patients access to discontinued medications
- Making medications easier to take
- Addressing allergy or ingredient sensitivity
- Reducing side effects
- Increasing compliance
For your pharmacy:
- Bringing in new customers
- Increasing sales
- Increasing adherence
- Differentiating you from your competition
How to Get Started
First, you need to determine if there is a need among your customers. Ask what side effects they’re experiencing, any questions they may have about their medications, and whether they’ve discussed compounding with their doctors.
Once you’ve established a need, you can start using your extensive knowledge and expertise about drugs to create customized treatment plans for your patients.
Are you interested in offering compounding services in your pharmacy and need more information?
Download our free eBook, Generating More Pharmacy Customers Through Compounding.