Thirty-seven percent reported having a. with a local physician, which means pharmacists can take more initiative to perform physical assessments on patients, substitute or discontinue therapies, order lab tests, and more. The 2017 NCPA digest shows independent pharmacy still outnumber chains (or it may be close to 50/50 now) while showing profitability. Adapting to a digital world Staying up-to-date is critical for pharmacies trying to compete in a digital world. One of the most important factors in picking a pharmacy is reliability. For retail pharmacies in particular, the risk of leaving potential revenue on the table is high. Consider adding digital website refills, automated refill reminders, or secure 2-way messaging to give patients the ability to manage their own prescriptions. Here, you can also find insights into Digital Pharmacist offerings like our IVR system, branded . Covid-19 diagnostic testing was the most popular point-of-care test in 2020, with 32 percent of pharmacies offering the service. Small changes, such as a pharmacy mobile app, online refill options, or an. We're committed to helping you drive results so you can practice at the top of your license. Practicing empathy means always being honest. Here are a few questions for you: Is your website serving your customers well? Here are four tangible ways your independent pharmacy can deliver better patient care today. Point-of-care testing expanded as pharmacists worked to increase access to Covid-19 tests in their communities. Potential patients are more inclined to take recommendations from people that they know personally and bringing business to a pharmacy via recommendations is one of the most powerful ways that you can show your support. If you have a specialty or compounding pharmacy, consider offering synchronization and medication management services to help patients reduce costs and stay adherent. If your pharmacy has a specialty niche, a blog is a great place to educate potential patients. Use your blog as an opportunity to showcase your expertise. To go above and beyond with your blog posts, research the keywords that will attract your ideal patient. Sign up to receive PBA Healths e-newsletter to get the latest Elements web articles in your inbox every other week, along with industry news, supply chain insights, and exclusive offers. thats happening in our organizations and in our profession. Unlike their competitors, independent pharmacies arent focused solely on dispensing medications and making a sale. You need decide what will work for you. Independent Pharmacies: At the Heart of the Community, Keeping Score: Tracking Your Health Goals, Making Lifestyle Changes: One Step at a Time. Monthly spotlight of a locally loved independent pharmacy. Your blog is where you can demonstrate to patients that you know your stuff and boost your reputation as your communitys authority on pharmacy topics. A 2019 NCPA Digest report found that in 2018, independent pharmacy owners typically employed 8.1 non-owner, full-time equivalent employees per location. Another option is to start a Facebook Group where people can chat amongst themselves about your recent posts. Medicare Part D Open Enrollment is Almost Over - Are Your Patients Prepared? Sales also rose by an average of $60,123 per location in 2020 for a total of $3,459,814 in annual sales. The, Medication compliance packaging (pharmacy robotics), Using health information networks to exchange clinical data, Videoconferencing for telehealth visits with pharmacists, According to the Digest, community pharmacies are typically, How One Pharmacy Saves Thousands on Its Cost of Goods, Heres How to Overcome Pharmacy DIR Fees and PBM Reimbursements, The Secret to Maximizing Your Wholesaler Rebates, Pharmacy Roundup: This Weeks Top 5 Articles for June 9, 2023, 14 Ways to Make Extra Income as a Pharmacist, Overcoming the Biggest Problems in Pharmacy. "In a time unlike any other, the importance of community pharmacists has never been more obvious," said B. Douglas Hoey, CEO of NCPA. According to Drug Channels, 18% of total Medicare Part D rebates in 2019 were made up of pharmacy DIR fees. I was wondering if any had any strategies and information about billing test strips through Medicare B. From the speed and ease of shopping at local pharmacies, to the comprehensive care they provide, and the sense of community they build, there is no surprise that people still prefer mom and pop shops to big chains. Pharmacy New Year's Resolutions Part 3: Become an Advocate for Independent Pharmacy. And it's true that starting one from scratch is typically faster and less expensive than buying an existing pharmacy. For retail pharmacies in particular, the risk of leaving potential revenue on the table is high. On our blog, you can catch up on pharmacy industry news, leverage best practices, and see our latest customer and company wins. Not only that, but an integrated medical billing solution empowers independent pharmacies . Focusing on mens health and raising awareness is imperative as we strive to keep our communities healthy. Independent pharmacies can streamline medical billing and eliminate inefficiencies in the process with access to the right technology. Medication errors have the potential to occur frequently and when we least expect them. Struggling to overcome some of your challenges in independent pharmacies? Data shows that profit margins from prescription and non-prescription sales were down to 21.8% in 2018 from 24% in 2010. To lighten your writing load, invite other professionals to write guest blogs for your pharmacy. Nearly 15% of Americans (over 24 million) deal with diagnosed hay fever, according to the CDC. Digital transformation, or the practice of adopting digital tools and platforms for business success, has become a necessity for healthcare professionals. Is Your Pharmacy Management Solution the Right One? PBA Health is dedicated to helping independent pharmacies reach their full potential on the buy-side of their business. NEW HYDE PARK, N.Y., Aug. 4, 2020 /PRNewswire/ -- For all independent pharmacy owners, success means you must have the right information and technology to compete. Here are the major trends and takeaways identified in the 2021 Digest. Data from the 2019 NCPA Digest shows that the number of independent pharmacies has decreased, from 23,106 in 2011 to 21,767 in 2018. Just as independent pharmacies support your community, you should return the favor and support them. As many community pharmacies are taking on a more patient-centered approach in recent years, pharmacists have an opportunity to better incorporate cancer management initiatives into their practice. Your blog can help you turn potential patients into actual patients. , millions of workers have lost access to employer-provided medical insurance. Not only do independent pharmacies work within your community, but they are also actively involved in it. can help you reach more patients digitally and provide the same level of service as big-box stores. Head to our contact us page and fill out the form, or give us a call: 877-959-7550, Our ProductsPatient Engagement PlatformBranded Healthsite and Mobile AppDigital MarketingInteractive Voice Response (IVR), ResourcesBlogCase StudiesProduct SpotlightseBooksWebinarsHelp Center, 2022 Digital Pharmacist Inc., A Lumistry CompanyAll Rights Reserved.Terms of Service | Privacy Policy| Information Security Program, Our ProductsPatient Engagement PlatformBranded Healthsite and Mobile AppDigital MarketingInteractive Voice Response (IVR)Benefits, 5 Challenges Independent Pharmacies Face (and Their Solutions), Pharmacies must find their way in a new industry landscape as. A recent NCPA survey about pharmacy financial health found that DIR fees are the number one business challenge for 52% of pharmacies in 2020. In 2018, Elements Magazine published this cool post called "9 Things Your Independent Pharmacy Website Has to Have." It is completely worth the read! Observation number 1: Pharmacy owners are starting to believe they are legitimate members of the healthcare team. While the average gross profit margin dipped from 22 percent to 21.9 percent, gross profit in terms of dollars rose by $11,029, on average. If you already have a pharmacy website set up, chances are that you have the capability to add a blog page for no extra cost. While national chains continue to charge some of the highest out-of-pocket prices, independent pharmacies offer a variety of payment options and discount programs to make care accessible to everyone. However, by making the right investment at the start, it can save time on going through the conversion process again and having to go through a new learning curve for your staff. If they click on one post, chances are, theyll click on another. Blog Starting a Pharmacy By McKesson October 08, 2018 Starting a pharmacy can be a rewarding venture that offers you independence and the chance to build something of your own. Your local independent pharmacy and its staff go out of their way to give you, your loved ones, and your community the best care possible. This makes now a great time for your pharmacy to consider how itsfalse, Last week, hundreds of Rx30, Computer-Rx, and PrescribeWellness users came together at TDSs National User Conference, SYNC 2022. is a must for independent pharmacies these days, but between serving patients and managing your staff, youre probably hard-pressed to come up with creative social posts. All you need to do is add a call-to-action at the end of your posts. Increased fees can contribute to a reimbursement decline, and below-cost prescription rates have led many independents, can help your pharmacy combat rising DIR fees and reimbursement rates. Bring your business and support your community by consulting our Pharmacy Finder to find the best pharmacies near you that best fit your unique health needs. According to the Digest, community pharmacies are typically located in rural areas that may not have access to other comprehensive healthcare. NCPA just released its 2021Digest, which surveyed independent pharmacies across the United States to find out about how they weathered a turbulent 2020. Make 2022 the year you become the best you that you can be. On average, they employ 11.1 full-time and part-time workers, and in addition to creating jobs, they also put down roots in their community through civic engagement. He has . Whether it be filling a routine prescription or offering personal guidance and support, independents put in the time and effort to be there for you when you need them. 1. We are going to discuss ways to reduce medication errors at your pharmacy. As members of your community, they know your name, your face, and your unique health journey. Your pharmacy can make the most of innovative solutions by investing in technology that best suits your needs and business goals. As an aspiring new independent pharmacy owner, make sure that researching and choosing the right software is high on your list of priorities. It also determined . On our blog, you can catch up on pharmacy industry news, leverage best practices, and see our latest customer and company wins. Opening a New Independent Pharmacy March 2, 2021 Independent pharmacies aren't going anywhere. And its time tofalse. . filling a prescription will make other purchases, according to Drug Chain Review. This is why it is critical to choose the right pharmacy software system from the start. Facebook is themost commonly usedplatform, followed by a pharmacy mobile app. While you may have an interest in fly fishing, your readers are coming to you for insights on health and wellness issues, so dont stray too far from that purpose. Summertime is here. As a small business, that means going digital is the best way to reach potential new patients. That means running a blog costs you nothing but time. Whichever way you choose to get it, independents variety of treatment and delivery options makes healthcare more convenient for you. Free Vitamin Program. This is because reliability is at the heart of their business, as they look to form lasting relationships with patients rather than just make transactions. Advances in technology continue to make independent pharmacies more efficient. Blogs are a must when it comes to discussing and promoting your online pharmacy business. The business magazine for independent pharmacy. If your area has a high population of diabetes patients, you can tailor content to that audience. January 4, 2022. Below is a list of the retail pharmacies in each state that receive . Other popular services were blood pressure monitoring, offered by 53 percent of pharmacies, and diabetes management and education, offered by 30 percent of pharmacies. Take, for example, chain pharmacies mishandling of the COVID-19 vaccine. Here are 5 challenges facing independent pharmacies that your pharmacy is likely to deal with and what you can do about them. 2023 Transaction Data Systems, Inc. All rights reserved. Keywords are words and phrases that you incorporate into your blog posts to help the post rank higher in search engines. about your products and services without paying for a print ad or boosting a social media post. Specials, STORE
Seventeen percent of pharmacies have a non-pharmacy health employee in their practice to help provide more comprehensive care. This could mean arranging your store based on most-used health products or adjusting services or fulfillment methods to meet current demands. From the latest industry trends to the newest ideas, you can find valuable and relevant information on community pharmacy on our blog. The business magazine for independent pharmacy. Could a Plant-Based Diet Help Control Your Cholesterol? As you post blogs, your website becomes more discoverable on Google. Want to be featured in our blog? This directs more traffic to your website, which gives potential patients a chance to find out more about your business. These influential leaders broke societal barriers through the years and paved the way for future generations of African American pharmacists and pharmacy owners. Where are we in June? After a post about the benefits of flavoring medication, for example, invite blog readers to come in and try your flavoring service at a discount. Existing customer looking for help? According to the National Community Pharmacists Association (NCPA), independent pharmacy owners and employees make significant contributions to their communities. and trends like personalized care, wellness, and transparent pricing become prominent. If you have a specialty or compounding pharmacy, consider offering synchronization and medication management services to, help patients reduce costs and stay adherent, in 2019 were made up of pharmacy DIR fees. online every single day. With national chains, who often face problems from being understaffed and having overworked employees, reliability can be an issue. Elements magazine is published quarterly in March, June, September and December. All Rights Reserved. Below is a breakdown of factors that impact staffing costs for you to keep in mind while planning a budget for your pharmacy. This week focuses on the important role that pharmacists play infalse, 3 Reasons to Plan for Medicare Plan Reviews, Fall is rapidly approaching and with it comes Medicares Annual Enrollment Period. This type of relationship may be why independents are statistically favored over chain pharmacies: because they know you as an individual, and not as a number or a dollar sign, they strive to give you the best care possible. Much of that decline comes from the impact of pharmacy benefit managers (PBMs), which. 2022 Digital Pharmacist Inc., A Lumistry Company, 8 Ways to Reduce Medication Errors at Your Pharmacy, Tips for Maintaining Medication Adherence in the Summer. May 10, 2022 On average, people spend nearly seven hours online every single day. Here are some tips and tools for managing stress under pressure. If youre not sure who to ask to write a guest post, look around at your industry connections. , Learn the Ins and Outs of Preventative Health Services, Make the Most Out of National Cancer Survivors Day, choose an independent pharmacy in your area, only 3% of patients who shopped at local pharmacies said they had to wait a long time to get service. ALEXANDRIA, Va. - Independent pharmacies are struggling to fill staff positions and deal with supply chain disruptions, as well as deal with market pressures like pharmacy benefit manager direct and indirect remuneration fees and vertical integration, according to a new survey from the National Community Pharmacists Association. Here are 5 challenges facing independent pharmacies that yourpharmacy is likely to deal with and what you can do about them. , which surveyed independent pharmacies across the United States to find out about how they weathered a turbulent 2020. If you have many patients with young children, you may want to cover topics relating to pediatric pharmacy. This has especially been highlighted during the COVID-19 pandemic, as independent pharmacies have had to suddenly adapt to new challenges with no break in servicing their patients - even during quarantine lockdowns. Well, if that's the case, then this article will help you. In many ways, the pandemic accelerated pharmacys transition into a community healthcare hub. Its about supplementing your patients overall health through a variety of enhanced clinical services, which in turn bring in new streams of revenue for your business. A social media presence is a must for independent pharmacies these days, but between serving patients and managing your staff, youre probably hard-pressed to come up with creative social posts. As the largest technology partner for independent pharmacy, TDS provides blogs on a wide range of topics, including technology, patient care, rules and regulations, innovations, customer spotlights and more. You can sell more over-the-counter products to them by running specials or recommend OTC items. Bigger chains make it seem like they are the best (if not the only) option to get quality pharmacy care. It connects every aspect of your business and every operation will run through your software system in some form or fashion. Your monthly email to stay up to date with the latest in healthcare and technology. Independent pharmacies care about educating their communities on health-related topics of all kinds. 1. Independent pharmacies will continue to experience downward reimbursement pressure In 2019, your pharmacy will feel even more downward pressure on your reimbursement rates. The Digest notes that most pharmacies have already adopted computerized records and claims billing and that the next step in new pharmacy tech will be integrating the PharmacisteCarePlan, which allows pharmacists and patients to get on the same page with regards to their medications and treatments. 2022 Digital Pharmacist Inc., A Lumistry Company, 8 Ways to Reduce Medication Errors at Your Pharmacy, Tips for Maintaining Medication Adherence in the Summer, 6 Ways Your Pharmacy Can Participate in Mental Health Awareness Month, DIR Fee Changes Coming in 2024: The Pros and Cons for Independent Pharmacies, The Evolution of Patient Needs: How Independent Pharmacies Can Grow & Adapt, How Pharmacists Can Manage Stress and Maximize Efficiency, 7 Ways To Improve Medication Adherence and Lower DIR Fees, How Pharmacists Can Help Patients Manage Seasonal Allergies, Common Painpoints to Avoid When Shopping for Pharmacy Software, 5 Ways to Better Counsel Patients with Cancer at Your Pharmacy, Black History Month: Celebrating Influential African American Pharmacists & Industry Trailblazers. Pharmacies are often the most accessible healthcare providers for patients and they can play an essential role in supporting mental health and advocacy among their communities. Remind them that they are the lifeblood of your independent pharmacy. Not only will it help the staff member to feel more appreciated, but the good word may even help them to advance in the pharmacy. Its a time for communities, organizations, and individuals to come together to raise awareness about the importance of mental health and wellness. To create a consistent readership, you have to make efforts to build a feeling of community among your blog readers. Pharmacies must find their way in a new industry landscape as healthcare goes digital and trends like personalized care, wellness, and transparent pricing become prominent. This helps keep your pharmacys name at the top of mind. Close to 10% of children have some sort Purchasing software can seem like a daunting thing for pharmacy owners to tackle on top of all their other day-to-day tasks but purchasing the right software can automate those tasks and thus free up so much valuable time in the long run. Learn More Member Spotlight I am NCPA Bianca Bradshaw, PharmD Elmore Pharmacy, Red Bluff, Calif. Four percent of pharmacy owners and employees contribute to their community by holding an elected state or local position. Focusing on medication adherence can help your pharmacy combat rising DIR fees and reimbursement rates. is offering COVID-19 test collection at select locations. These can make a big difference. In 2021, the coronavirus pandemic threw curveball after curveball at already exhausted pharmacy employees. From continuing to dispense medication during quarantine to administering COVID-19 testing and vaccinations, local pharmacies are getting their time in the spotlight and being recognized for the services they have been offering to their communities for years. Seventy-four percent of respondents serve areas with populations less than 50,000 people. Independent pharmacies, on the other hand, employ smaller staffs of experienced pharmacists and technicians. To celebrate Black History Month, join us in honoring notable and courageous African American pharmacists and industry trailblazers. is a family of locally owned, locally loved independent pharmacies united by their commitment to providing personalized care to their patients far beyond simply filling prescriptions. Blog Share Five Ways Independent Pharmacies Can Maximize Social Media By McKesson April 03, 2017 Like most small businesses, most independent pharmacies have a social media presence as part of their local marketing programs. Because they are owned by individuals or families rather than large corporations, independents have the flexibility to coordinate when, where, and how their patients get the service they need. Independent pharmacies dispensed more prescriptions in 2020 than they did in 2019 57,678 prescriptions, up from 57,414 prescriptions. When weighing your options, ask yourself if you can depend on your pharmacy to do the job right, every single time. PioneerRx Pharmacy Software is one of the newest systems on Take a minute to think about the people on your team. By supporting important causes, they work to not only make a difference in your life but also in the livelihood of your community.
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