When drugs transition from prescription to over-the-counter (OTC), you have an opportunity to grow your pharmacy’s front-end sales.
The average U.S. household spends about $340 per year on OTC products, with annual nationwide spending totaling $2.9 billion, according to the Consumer Healthcare Products Association (CHPA). Drugs that started as prescriptions and transitioned to OTC accounted for 19 percent of OTC sales, and they’ve experienced a 27 percent growth in sales the past five years. These transitions are an important revenue-boosting opportunity for your business.
Properly managing the transition from prescription to OTC is essential to keep patients who currently use the drug adherent, and it’s an opportunity to grow your pharmacy’s sales by promoting the OTC drug to new patients who might also benefit.
Here are five tips for successfully managing a product’s transition from prescription to OTC, and redirecting sales from back-of-store to front-of-store.
1. Start early
Start preparing for a drug’s switch from prescription to OTC as early as possible.
Promote the release of the product to patients who can benefit before it goes OTC. For example, a patient with chronic heartburn who regularly purchases antacids would benefit from the availability of Prilosec OTC®. Let patients know by placing flyers in prescription bags, hanging up posters and posting about the switch on your pharmacy’s social media pages.
Make sure to have plenty of the product in stock, and boost sales even more by handing out front-end coupons good for the month the product goes OTC.
2. Don’t assume knowledge
Patients learn about drugs in a variety of ways. Advertisements, information from physicians and self-initiated research are common ways, but when drugs transition from prescription to OTC, there will likely be confusion.
Patients who already use the drug might be confused about the appropriate dosage, how the prescription and OTC product compare, and the safety of the medication.
It’s also important to educate patients who could benefit from the drug but have never used it before. For example, you can suggest Flonase®, which just received approval for OTC sale, to patients suffering from seasonal allergies. Educating these patients about the drug can help patients find a product that works for them, and boost your pharmacy’s front-end sales, too.
3. Use your space
Devote space in your pharmacy to promote the new OTC product. Create a stand-alone display to draw patients’ attention and acknowledge its move from behind the counter to the front of the store.
Take advantage of any planograms or displays that manufacturers or wholesalers provide to encourage interested patients to try the new product.
4. Target key patients
While you should inform all your patients about the new OTC medication available, target most of your efforts to patients who already use the product as a prescription.
Focus on informing this group about the change, and make sure you have a conversation with these patients about the new OTC offering and their plan for the transition.
Discuss these issues with your patients throughout the transition, so they stay adherent during the switch and you don’t lose their business.
5. Follow up with patients
After the product release, follow up with patients who have switched to the OTC.
Make sure they’re happy with the OTC product, and if they’re not, work with them and their physician to find an alternative. This follow-up will keep patients happy and adherent.
For example, several antihistamine products have made the transition from OTC allergy relief including Zyrtec®, Allegra® and Claritin®, and if a patient isn’t happy with one, you can talk to them and find another OTC product that works for them, or with their physician to find a prescription remedy.
Use these tips to make a drug’s transition from prescription to OTC smooth for your patients and your pharmacy.
