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4 Ways to Grow Your Pharmacy Without Selling

November 19, 2015/0 Comments/in All, Pharmacy Growth Strategies/by pdsmarketing

Not every business owner, and certainly not every pharmacist, is a natural-born salesman. Finding opportunities to sell products to every patient who visits your store can be awkward, but you have to constantly sell to increase profits, right? Maybe not. In reality, there are several effective strategies that will allow your business to grow without pharmacists engaging in uncomfortable sales tactics. Let’s take a look at four proven strategies that will allow you to build your pharmacy business in other ways:

1) Increase Prices

A small uptick in prices could translate to a big profit increase at the end of the quarter. If you haven’t taken a close look at your pricing strategy in awhile, you’re probably missing a big opportunity. When compared with your competitors, you may find that many items are underpriced. Remember, low prices are not the only thing your customers care about. Personalized, top-quality care is your competitive edge. Many customers will not noticea small price increase and those who do will remain loyal to your exceptional customer service.

2) Add More Available Products

Many pharmacy owners focus too much on gaining new customers and miss the chance to maximize untapped potential with current patients. Building trust is the most nerve-racking, expensive and time-consuming portion of any sales process, but you have already overcome this barrier with your current customers. The smartest strategy for increasing pharmacy sales is to offer more to your existing customers, which is also known as cross-selling. Keep an eye on your inventory to make sure you carry related products that are in-demand. Make sure your staff is trained to recognize cross-selling opportunities and recommend additional products when necessary.

3) Grow Through Acquisitions

Depending on your pharmacy’s financial situation, you may consider buying out a small competitor rather than working to gain their customers in other ways. If pharmacies in your area are struggling and selling at relatively low prices, then growing your business through acquisition could be a very viable strategy. If this idea sounds overwhelming to you, PDS can help

4) Simplify Your Products

If you are running regular reports, you may quickly find that some of your products and services are actually costing you money. Eliminating items that are costly, hard to sell or expire too quickly will increase your profits in the end. Taking the time to replace unprofitable products with better options is a worthwhile investment.

If selling isn’t your forte, but you are looking for ways to grow your pharmacy business, don’t worry. Keep your eyes open for pharmacy acquisition opportunities. Remove unprofitable products and add inventory that will increase cross-selling. Effectively managing products and prices can increase your pharmacy’s profits exponentially.

One of the best ways to identify new growth opportunities is to connect with other like-minded independent pharmacy professionals. This industry is different from many others, which is why networking with other owners and learning about the future of pharmacy is so vital to your success. The PDS Together Toward Tomorrow Conference is held annually to unite pharmacy owners as we pave the way toward a better tomorrow.

Learn more and reserve your seat today

4 Personality Types to Improve Pharmacy Customer Service

November 18, 2015/0 Comments/in All, Pharmacy Growth Strategies/by pdsmarketing

You’ve probably spent a lot of time telling your staff that customers are your number one priority. Surely you know that providing extraordinary pharmacy customer service will help you rise above your competition. You can talk about customer service until you’re blue in the face, but the truth is, good intentions can only get you so far.

Your customers are unique individuals, so their responses to your efforts will vary. Far too many pharmacy owners don’t take this into account when handling a complaint or problem that is brought to their attention. Believe it or not, there is a tried-and-true method for customizing your customer service to effectively deal with different personalities.

Read on to learn how to identify the four different basic personality types you’ll likely meet in your pharmacy and a few tips on how to achieve the best results:

1) Dominant Personality Type

These people are often aggressive and pushy, especially if they feel like they aren’t getting the kind of service they deserve. A dominant personality type will tell you why they are unhappy may never return. While they may seem intimidating, they give you the opportunity to keep their business by telling you what they want to have resolved.

When handling a customer that has a dominant personality type, it isn’t smart to argue with them or try to assert any kind of authority. They want to see quick results, so be sure to address their complaint immediately. A dominant personality type wants to see evidence that you take their complaint seriously.

2) Influential Personality Type

While a dominant personality type may present their issues with anger, an influential personality type is more logical and calculated. They are usually skilled in verbal attack and may also come across as manipulative. You may have heard a customer say something like “I bet a letter to the newspaper about what’s going on here would change your bad business practices!” If so, that person is an influential personality type and should be handled with care.

For some pharmacy owners, the course of action that will come most naturally when dealing with this type of customer will be to sit passively and allow the customer to lecture. This type of customer craves personal attention and the assurance that their problem is being handled with the utmost professionalism. Respond to this customer with a plethora of verbal affirmations and then take action to ensure the problem is being corrected.

3) Steady Personality Type

Those with a steady personality type may seem like your favorite type of customer, but they’re also the hardest to keep happy because they often don’t verbalize their complaints. Those whose personalities fall into this category are the least likely to be loud and argumentative. If they do eventually come to you with an issue, they may appear submissive, hesitant, or even apologetic. This type of customer rarely complains openly – he or she will internalize dissatisfaction and then take their business elsewhere.

When you identify a complaint from a steady personality type, show your commitment to saving the relationship and express that ensuring their satisfaction isn’t an inconvenience to you at all. You want to keep them happy and be sure to tell them that!

4) Conscientious Personality Type

Conscientious customers won’t angrily voice their complaints and call attention to themselves, but they won’t be submissive either. While their complaints may not be loud, they will have a sharper edge to them. Conscientious customers tend to recite the chronology of events and list the errors they’ve had to endure. They’ll provide data and documentation to prove their point.

The first step in dealing with a conscientious personality type is to acknowledge that they are right. Show them that you appreciate their thoroughness and then, patiently explain the process for correcting the problem. Resolve the issue quickly and quietly, so that the customer feels as comfortable as possible.

Dealing with a customer complaint is never easy, but handling a grievance incorrectly can result in loss of business. If you want to maximize customer loyalty, be privy to the characteristics that will help you identify these four personality types and the best methods for managing each one. Studies show that when customers feel that a company responded to and addressed their complaints appropriately, they are actually more loyal than if the problem never happened at all.

Responding properly to each situation that arises in your pharmacy is one of the best ways to ensure that your customers stay with you for the long haul. There are many methods for boosting customer retention in your pharmacy. To learn more about the various ways you can improve your pharmacy business, download our free ebook 3 Innovative Ways to Compete in the Pharmacy Market

3 Ways Handwritten Thank You Cards Can Boost Pharmacy Business

November 12, 2015/0 Comments/in All, Pharmacy Growth Strategies/by pdsmarketing

Creating a personal connection with current patients is just as important as acquiring new pharmacy business. Adopting a thank you card program is an inexpensive, highly effective method for reinforcing the connection between patients and your pharmacy. Handwritten cards can also be used to express congratulations on a new baby, concern about a patient who has spent time in the hospital or interest in a customer who hasn’t visited your store in a while.

There are many reasons to regularly send notes to your patients, including:

Show Your Appreciation

Independent pharmacy owner, you have a lot to be thankful for. Your regular customers are supporting your pharmacy, helping you keep your lights on and doors open for business. A customer appreciation note makes a big impact with little effort. Keep it short and sweet. For example:

Earning your business made my day! Your happiness is contagious and we are proud to call ourselves your hometown pharmacy.

Thank you for letting us care for you while you have not been feeling well. You are in our thoughts and we hope you feel better soon.

Thank you for coming in for your prescriptions today. I look forward to seeing you again soon.

Thank you for taking the time to voice your concerns today. We always welcome suggestions on how we can improve our service.

Build Relationships

All of your efforts to connect with patients should have one end goal – to build relationships. Thank you cards help encourage lasting, meaningful relationships by reminding patients of how much you care. For small businesses, expanding upon existing relationships is the best way to gain new business through customer referrals, so you can compete with bigger stores who use expensive advertising to build name recognition but don’t offer a personal touch.

Stand Out From Competitors

Any time you implement a program that your competition does not have, you are setting yourself apart from the rest. Your patients receive numerous emails every day and the vast majority of them are spam, marketing messages and social notifications. Do not allow your heartfelt message to get lost in the multimedia shuffle. A professionally printed card with a handwritten, personalized message shows your patients that you are serious about them and your business. As an independent, the ability to deliver personalized service is your competitive edge.

Handwritten cards are only one of the hundreds of ways you can improve your independent pharmacy business. What steps are you taking to ensure that you seize every opportunity to make your business better? You can begin immediately by downloading our free ebook, The Pharmacy Owner’s Guide to an Exceptionally Effective Implementation.

7 Reasons to Attend Pharmacy Industry Events

November 11, 2015/0 Comments/in All, Pharmacy Growth Strategies/by pdsmarketing

One of the best ways to improve your pharmacy is to spend time learning from mentors, experts, and other independent pharmacy owners who can motivate and encourage you in a pharmacy industry event. There is great value in surrounding yourself with people who possess similar business values, goals, and interests. Connecting with people who understand your daily struggle and have the wisdom to share their experiences is easier than you think.

Many pharmacy owners express that taking the time to attend an industry event is a huge challenge. Meanwhile, the pharmacy owners who make networking and continuing education a priority, never regret their decision to do so.

Here are seven reasons why you need to attend a pharmacy industry event this year:

1. Networking

Never underestimate the importance of meeting and talking with your industry peers. Hearing that you are not alone and that others are experiencing the same challenges can be a huge morale booster. Meeting like-minded pharmacy owners will provide motivation and the opportunity for new partnerships and friendships.

2. Exposure to New Ideas

No matter how experienced you are, there is always something new to learn. At industry events, you are exposed to a world of new ideas, programs, and techniques that can improve your business. Spending time with the industry’s top innovators will help get your creative juices flowing and will allow you to select new concepts to implement in your pharmacy.

3. Discover New Vendors and Suppliers

In many cases, conference attendees shy away from the tradeshow floor, because they want to avoid aggressive salespeople. At a reputable conference, the vendors are selected for their high-quality products, integrity and commitment to the client’s success. In that case, pharmacy industry events are the best way to discover innovative products and services that will make your life easier and help you stay ahead of the competition.

4. Regain Your Focus

The human brain cannot function at it’s highest level in times of stress and disorganization. A conference is a great opportunity to travel away from daily distractions, clear your mind and get refreshed. You will have the ability to refocus, develop new plans and implement new ideas like never before.

5. Stay in Touch with Old Friends

Conferences are the perfect time to reconnect with old classmates, colleagues, and mentors. You will undoubtedly have new ideas, experiences and stories to share with each other as you catch up. You will certainly make new friends, but some of your most meaningful business ideas could come from a conversation with someone you have known for years.

6. Position Yourself as an Expert

Being seen and heard during pharmacy events will serve you well in the future. When you are active in the industry, you can develop a reputation as an expert among your peers. If you are actively engaged over several years, you may even be asked to speak at events or write articles for various publications. Your customers will feel great about doing business with such a celebrated pharmacy. Being quoted by the local news or a highly visited website will do wonders for your business.

7. Have Fun

Don’t forget that conferences are also very fun! Industry events add a much-needed layer of enjoyment to managing your pharmacy’s growth by mixing a social aspect into your learning experience. Many conferences include fun activities such as meet and greet parties, happy hours, golf and even tours of the city where the event is hosted. You may even consider taking an extra day at the beginning or end of the trip to explore the region on your own.

In our fast-paced, constantly busy world, we often forget about the immeasurable value of face-to-face interaction with industry peers and leaders. Do not miss the opportunity to make this your best year yet by empowering yourself with the tools and relationships needed for independent pharmacy success. The PDS Together Toward Tomorrow Conference is now open for registration!

If you are going to attend just one conference each year, make it this one. Pharmacy professionals just like you have already signed up, expecting to be empowered, educated, and encouraged. Together, we can make 2016 the best year of pharmacy and pave the way for a better future for the entire industry. Reserve your seat now.

4 Things You Need to Know About Pharmacogenomics

November 5, 2015/0 Comments/in All, Pharmacy Growth Strategies/by pdsmarketing

This is an exciting time to be involved in the pharmacy industry…

Technology is evolving faster than ever before, providing tools to make your job easier, and keeping the entire industry on our toes. Don’t be surprised if you start to hear the word pharmacogenomics coming up more often at industry events and in conversations with other pharmacy owners. Here is exactly what it means and how it will be impacting your pharmacy in the future.

Pharmacogenomics: the study of the role of genetics in drug response. It deals with the influence of acquired and inherited genetic variation in patients by correlating gene expression or single-nucleotide polymorphisms with drug absorption, distribution, metabolism and elimination, as well as drug receptor target effects.

It is the Future of Prescription Drugs.

The field of pharmacogenomics is still in its infancy. It’s availability is currently limited, but new approaches are already under study in clinical trials. In the future, pharmacogenomics will allow the development of tailored drugs to treat a wide range of health problems, including cardiovascular disease, depression, Alzheimer’s disease, cancer, HIV/AIDS, and asthma. Getting in on the ground floor of such an exciting prospect and being the first in your area to offer it will do wonders for your bottom line

Less People Will Experience Adverse Drug Reactions.

Pharmacogenomics will save your customer’s lives. Adverse drug reactions are asignificant cause of hospitalizations and deaths in the United States. Many drugs that are currently available are said to be “one size fits all,” but they don’t actually work the same way for everyone. It can be difficult to predict who will benefit from a medication, who will not respond at all and who will experience negative side effects with traditional types of medicine. Pharmacogenomics will drastically cut down on those who experience negative reactions or no reactions to their prescriptions.

It Will Help Lower Healthcare Costs.

While it requires an initial investment, the field of pharmacogenomics will actually save our economy millions in the long run. Imagine a world where your customers don’t have to regularly see a doctor and try several different prescriptions and dosages to find the right way to manage their chronic disease. That world is happening already with pharmacogenomics! One trip to the doctor, one genetic test and one visit to your pharmacy later, your patients will have exactly the drug they need to be healthy.

New Drugs Are Being Developed.

While the current use of pharmacogenomics is mainly prescribing current medicine to patients, it’s also helping create entirely new medications. The goal is to produce new drugs that are highly effective and do not cause serious side effects. It may also breathe new life into some drugs that were abandoned during the development process. There are drugs that did not receive FDA approval because it was unclear why they worked for some test patients and not others. Genetic testing beforehand could give researchers an answer to this problem.

Pharmacogenomics is the future of medicine. Being one of the first pharmacies to bring pharmacogenomics to your area is a great opportunity to differentiate your pharmacy from the competition. At the very least, be sure to familiarize yourself and your staff sooner rather than later.

7 Steps to Identify and Manage Difficult Employee Situations

November 4, 2015/0 Comments/in All, Pharmacy Staff Development/by pdsmarketing

As your pharmacy grows and a larger staff becomes necessary, interpersonal conflicts will be inevitable. It can be difficult to focus on the daily tasks associated with pharmacy ownership if you are constantly mediating employee issues. To reduce time wasted on drama-filled relationships and increase the productive energy needed to manage and expand your business, try following these seven steps:

Step 1: Lead By Example

You will not be successful in reducing pharmacy drama if you are involved in it yourself. As the leader of your staff, the entire team looks up to you and follows your lead. Use your own actions to demonstrate the positive behaviors you would like to see from your staff. If you are a good role model, chances are your team will “mirror” your behavior.

Step 2: Diagnose the Cause

Just as you would not expect an aspirin to effectively treat an undiagnosed disease, you cannot resolve a conflict in your pharmacy until you fully understand the root cause for it. While multiple factors can contribute to negative behaviors and drama in the workplace, here are four common triggers to be aware of:

Constant complaining
Cynical attitudes
Controlling and bossy behavior
Passive aggressive tendencies

Step 3: Develop a Plan to Confront an Issue

Once you identify the origin of a particular conflict, develop a plan based on the exact situation and employees involved. It may be best to handle the situation in a private meeting, especially if the problem employee is prone to outbursts. When one or more closed-door conversations have already taken place, you may consider making an announcement regarding workplace conflict resolution in your next staff meeting. In some cases, it could become necessary to remove staff members who are spreading negative energy and causing problems on a regular basis.

Step 4: Develop a Friendly Rapport

When meeting with an employee who is prone to conflict, be careful to begin the conversation with a neutral, open-minded tone. Explain the purpose, set the ground rules and be clear about your goals for the meeting. Your leadership will provide a solid foundation for a productive conversation. Set expectations about what you want to discuss and clearly communicate that your end goal is to resolve a problem and move forward.

Step 5: Be Direct and Professional

Begin the difficult part of the conversation with a non-confrontational, respectful phrase that explains the purpose of the meeting. Use facts instead of subjective, opinion-based statements to describe the problem. As the business owner, you should be careful not to leave any room for argument or interpretation. Allow the employee to provide an explanation while maintaining your authority.

Step 6: Obtain Commitment to Change

Finish the meeting by obtaining a solid acceptance of responsibility and a commitment to change. This step demands clarity from both parties on what future expectations are, so it is important to be specific. Instead of saying, “don’t cause drama,” perhaps you can say “don’t complain to others about your problems with the XYZ.” This is also the time to clearly outline the next course of action if the situation does not improve.

Step 7: Encourage New Behavior

While it is important to address negative actions, it is even more critical to reward good conduct to increase morale. Validate your employee’s new and improved behavior with encouraging feedback and a follow-up conversation. A handwritten note is a simple way to reinforce positive performance

These seven steps for confronting drama and introducing authenticity in workplace relationships will help keep your pharmacy productive and growing to its full capacity. Don’t let silly arguments derail amazing potential. Make sure you are prepared to take action before negative behavior and conflict become a problem.

Managing multiple personalities in the workplace while running a successful pharmacy can be difficult, but you don’t have to do it alone. Hundreds of pharmacy owners, who are just like you, use PDS to help lead their staff and find innovative ways to increase profits and stay ahead of the competition. If you would like to join a community of independent pharmacy owners who are committed to industry-wide success, then we would love to speak with you. Click here to request a free pharmacy business assessment today and one of our business advisors will get in touch with you shortly.

How Connecting With Pharmacy Owners Can Help Grow Your Pharmacy

November 3, 2015/0 Comments/in All, PDS Super Conference/by pdsmarketing

Connecting with other pharmacy owners is the single most important marketing and business ownership tool available to any pharmacy entrepreneur. Relationships are the catalyst for success. When you build a strong network of like-minded professionals around you, you will be amazed at the progress you can make together as a group. Building strategic, impactful relationships is completely free and getting started is easier than you think.

Get Business Cards

As a savvy business owner, you know the importance of networking, but you may not realize how influential your business cards can be. The quality of your card will leave a lasting impression on those who receive it. Purchasing quality business cards should be thought of as a critical investment, not an area to save money. Hire a professional agency and find a design that completely captures what you and your pharmacy are all about.

Practice Your Elevator Speech

When you attend a networking event, be prepared to deliver an elevator speech. A clear, brief synopsis about you and your business will allow you to communicate who you are and why you are at the event. In about thirty seconds, you will convey enough information to begin a conversation with your new contact.

Go to Industry Events

industry conference is a perfect opportunity to meet independent pharmacy owners just like you. It provides a unique opportunity to discuss best practices within the industry, learn about new programs and get advice from industry leaders who understand the challenges you face on a daily basis. You will gain a variety of viewpoints from other independent pharmacy owners and you will pick up new ideas to improve your current processes.

Enjoy Yourself

Connecting and networking with other pharmacy owners should be fun, not scary. If you are enjoying yourself, you will naturally attract others to you and the networking will feel much more organic. Many conferences include fun, informal events like lunch socials and happy hours, which are a prime opportunity to easily build new relationships.

There is no limit to how much your pharmacy may grow through networking. As the old saying goes, “it’s not what you know, it’s who you know.” When your network is constantly expanding, so are your chances of meeting industry experts, receiving valuable advice and learning new skills. If you are ready to make new friends and learn from the pharmacy industry’s absolute top leaders, we invite you to join us at next year’s Together Toward Tomorrow Super-Conference

At the conference, we will highlight new ways to grow your business through connection and innovation. We believe that although you are independent, you are not alone. Together, we can make 2016 the best year of independent pharmacy yet and pave the way toward a better tomorrow. Join us!

8 Mistakes to Avoid When Hiring New Pharmacy Employees

October 30, 2015/0 Comments/in All, Pharmacy Staff Development/by pdsmarketing

Hiring a new pharmacy employees can be both exciting and nerve-racking. Your business is profitable enough that you need help and can afford to pay for it, but do you know where to begin? Where will you advertise the new position? How much can you afford to pay? What questions should you ask during the interview? How will you know if a candidate is a good fit?

Even if you’ve done it a dozen times, the hiring process can be a little daunting, but there are surefire methods to make the process run smoothly. Here are 8 common mistakes to avoid when hiring new pharmacy employees:

1. Lack of Preparation

Your potential employee is prepared for the interview and you should be, too. Start by clarifying why you are hiring. Create a job description that includes desired outcomes and competencies that match your pharmacy’s needs. What skills or certifications are necessary for performing the job well and what skills are secondary? If you don’t think of this ahead of time, you may forget to ask important questions while meeting a potential candidate face-to-face.

2. Hiring Close Friends and Family

Use caution when interviewing and hiring friends and family of your current staff members. Remember that even if a candidate is someone you know personally, the same standards for interviewing, hiring and training should apply. Hiring qualified staff to fill a specific role is the first step to building an effective pharmacy team. Selecting an employee based on a personal relationship can be a big mistake.

3. Asking Prohibited Questions

You wouldn’t intentionally break the law during an interview, but it could easily happen if you haven’t been trained in human resources protocol. Some questions related to age, marital status, ethnic background or religious choices may come up naturally in conversation but can create a legal nightmare down the road. To avoid this, make a list of interview questions in advance, ensure they are compliant with the law and stick to your list during the interview.

4. Failure to Conduct a Background Check

When hiring pharmacy employees, trusting your instincts alone is a very dangerous practice. Carefully review the candidate’s resume and check their references before extending an offer. Search online for arrest records and double check their educational certificates. Investing the time necessary to call previous employers can save a lot of trouble down the road.

5. Too Few or Too Many Requirements

For best results, maintain a list of hiring criteria between about six and eight factors. Using less than six elements will make it difficult to eliminate unqualified candidates, while using more than eight requirements will make it difficult to find candidates who meet your standards. Finding the right balance of qualifications will allow you to develop an excellent pool of candidates to choose from.

6. Using Your Own Example as a Template

You’ve done a great job running your pharmacy, but that does not mean you should look for staff with the same traits to fill every role. When using yourself as a model, objectivity is lost and your vision is skewed. Using your own profile as a template for hiring is a major mistake that will result in personality conflicts and incorrect hiring.

7. Lack of Follow Up

An unprofessional hiring process can impact your reputation as a business. In some cases, you may decide to follow up with everyone who applies for a position, even if they are not selected for an interview. Regardless, following up with those who attend interviews should be mandatory. Providing honest and meaningful feedback as to why the person is not a great fit for the position will help them conduct a more productive job search. It will also help you, as a business owner, to build a positive and professional image in your community.

8. Drawing out the Application Process

Don’t assume that your candidates will wait a long time to hear back from you. If a potential employee is actively engaged in a job search, one or two weeks can be too long between rounds of interviews. While you are interviewing other applicants, your most outstanding candidate could be hired elsewhere.

Avoiding these eight mistakes when hiring new pharmacy employees will save precious time and money. If you are interested in learning more about hiring and training an outstanding pharmacy team, watch our free webinar, Hiring Your Best Pharmacy Team

How to Mine Your Pharmacy’s Database to Increase Sales

October 29, 2015/0 Comments/in All, Pharmacy Growth Strategies/by pdsmarketing

What if you could find a brand new way to increase profits using the information you already have? Believe it or not, you can easily find sales opportunities by investing minimal time to mine your pharmacy’s database. Here at Pharmacy Development Services, we train our member pharmacies to use a program called Profitability Pathways. It is a system that shows the pharmacy team how to tap into existing niches based on specific disease states. With this program, pharmacy staff will learn how to anticipate patient needs and identify ways to convert low-profit patients into high-profit opportunities.

Step 1: Run Software Reports

To get started, you will need to use your pharmacy computer’s software to run seven different reports. Running all of these reports will allow you to confidently make decisions based on data, instead of a gut feeling or a guess. These seven reports include:

Highest Profit $ Drugs
Highest Profit % Drugs
Highest Profit Doctors
Highest Profit Insurance Companies
Top 20 Drugs Filled
Margin Over $40
Daily Money LOSS Report

You may find that your customers are looking for different items than what you thought you needed to focus on selling them. On the other hand, the data could reveal that a particular insurance company is much more profitable than you realized. The reports will provide data that can guide your next steps as a business owner.

Step 2: Look for Trends

You may find commonalities in your customer base that need further examination. Are many of your patients being treated for the same disease? Do you have a large number of geriatric patients? Do you have a high number of female patients? As you identify trends in your database, you have two options for determining growth opportunities – disease-based pathways or prescription-based pathways.

Option 1: Disease-Based Pathways

If you find that many customers are older, you may want to focus on diseases that typically affect aging people like arthritis or high cholesterol. Perhaps you have a much larger demographic of female customers and decide to concentrate on women’s issues like menopause treatment. Choose and create Profitability Pathways for popular diseases based on the services you provide. It’s up to you!

Option 2: Prescription-Based Pathways

Examine the most profitable prescriptions in the pharmacy and begin creating Profitability Pathways to increase the number of fills. You may find that a particular drug or group of drugs is extremely profitable and decide to focus on those instead of a disease. If you identify that a specific diabetes drug is extremely profitable for you, you may decide to focus on increasing sales in that area instead of focusing on diabetes as a whole.

After running reports and analyzing trends, you will be ready to move forward with new techniques to increase sales. By mining your database, you will be able to use solid data to identify patient needs. Your team will be able to recommend supplementary products, programs and services to support patient care and increase revenue.

Don’t miss the opportunity to increase customer trust, while simultaneously boosting profits. Are you interested in finding new ways to increase profit? If so, register for a free pharmacy business assessment now. PDS Business Advisors are available to help pharmacy owners discover new ways to improve their independent pharmacy businesses.

9 Steps to Optimize Pharmacy Staff Performance

October 28, 2015/0 Comments/in All, Pharmacy Staff Development/by pdsmarketing

Staff productivity is critical to any business, especially independent pharmacy. As a business owner, you may be confident about your own daily productivity, but what about your staff? Are you positive that you are getting maximum results for what you are paying them? Below are some of the things that you should be doing to improve your pharmacy staff performance:

1. Properly Train New Hires

The road to effective pharmacy staff is paved by smart hiring and training practices. The best employees are trained correctly and promptly from the beginning of their employment. It is important to maintain some uniformity. Each staff member should be provided with the same tools and expectations from day one.

2. Continuously Monitor Performance

After new employees complete a thorough training, the owner or manager should follow up regularly to provide performance feedback. It is important to put quantifiable measures in place and then review them at regular intervals. In many cases, business owners choose to conduct reviews every quarter. Whether the process is formal or informal, it is important for staff members to know that you will monitor them continuously.

3. Provide Motivation by Rewarding Performance

It is human nature to display better performance when oneis feeling happy, motivated and supported. To get maximum productivity from your staff, set up programs to motivate them. In addition to or instead of financial compensation, you may choose to reward your team with gift cards to their favorite restaurants or e-commerce websites. Do not underestimate the power of small gestures like handwritten thank you notes or public recognition for a job well done.

4. Set Reasonable Guidelines

Every business needs a set of guidelines for employees to follow and your pharmacy is no exception. It is important to set forth a group of carefully thought out rules without condescension. Remove any rules that are archaic or unnecessary and you may see an increase in workplace morale and productivity.

5. Make Work Fun

Nothing ruins productivity like feeling burnt out. In order to prevent burnout, make sure you allow your staff to have adequate time off to spend with friends and family. As a business owner or manager, you can make work more enjoyable by planning team building activities. Organize a team dinner or a family field day. Take the opportunity to reward staff and invest in their professional growth by sending them to out-of-town industry events

6. Manage Conflict Immediately

Personality conflicts, miscommunications, and misconceptions are inevitable in any workplace, but your employees will be unable to maximize their potential if they are distracted. As a manager, you have a responsibility to provide a positive workplace environment by effectively managing conflict as soon as it arises. When employees feel like you have their best interests at heart, they will be able to function at their highest level.

7. Maintain Open Communication

Communication is key in any relationship, including business. You cannot hold a staff member accountable for what they have not been told, so effective communication is critical to pharmacy business success. All of your employees need to know exactly what is expected of them and who to speak with when they encounter challenges.

8. Monitor Computer Usage

The computer is one of the most beneficial resources ever added to the pharmacy industry. We use the internet for research, billing, marketing, record keeping and more. However, computer and internet usage can squash productivity when not managed properly. During the new employee training process, be sure to set parameters for the use of company computers.

9. Offer Flexible Schedules

Some of your staff may be early risers who are most productive in the morning, while others would prefer to work an evening shift and stay up late. Your business may require an overnight shift for stocking new products, but that shift will not be appropriate for everyone. Find a way to schedule your employees during a time that is best for them. Scheduling an employee at a time when they are naturally most productive will help optimize performance.

Motivating a staff with diverse skills and talents can be challenging, but following these nine steps can help ensure that you get the best possible performance from each of them. If you’re looking for more ways to increase your pharmacy’s profits and optimize staff productivity, we would love to help. Among other things, our business advisors are specially trained to help you empower your staff, improve store culture, identify new niches and implement new programs. Click here to request a free business assessment