Every business has to change, update and innovate in order to survive and thrive. Your pharmacy is no exception.
Instituting change is difficult, especially when you get set in a routine. Whether it’s too expensive, you don’t have the time, or you like the way things have always been done, it’s not hard to find excuses to keep doing what you’re doing.
But that mindset is detrimental. In order for your business to grow, you have to continue to change and develop. Implementing innovative ideas benefits everyone, including your patients, employees and your business.
We’ve created an article series that explores why it’s important to change, how to overcome hurdles to innovation, and adjustments you can make to improve your pharmacy business.
As the first installment in these series, we’ve identified some reasons why it’s important to innovate at your pharmacy.
Keep your pharmacy fresh
Making changes will keep patients interested in your pharmacy.
Adopting a category of products in your front end gives patients something new to explore when they visit your pharmacy, and offering a new service can bring in a new class of patients.
Regular updates, and changes will prevent your pharmacy from becoming routine, and stale.
Appeal to new patients
Innovative services and products can help your pharmacy appeal to a new patient base.
For example, by adjusting your front end to include natural products, you can appeal to patients who are interested in natural remedies, and who otherwise may not shop at your pharmacy. Or, offering a medication flavoring service might attract new patients with children who want to make medicine taking simpler.
Always be on the look out for new products, services or programs that your pharmacy can offer to get new patients through your doors.
Stay ahead of the competition
Trying new innovative practices, services and products keeps your pharmacy business one step ahead of the competition.
As an independent pharmacy, you don’t have to wait on approval from a corporate office to make a change to your workflow or offer a new service. Use this to your advantage, and make innovative changes to your pharmacy that will help you stand out from big box pharmacies, national chains and other independent community pharmacies.
Technology demands it
Change is essential to keep up with fast-paced technology.
Technology changes so quickly, and it’s important for your pharmacy to keep up. If you don’t accept the most up-to-date forms of mobile payment, or if you don’t stay informed about the latest health apps, you risk losing business to pharmacies that are more tech-savvy.
Your pharmacy has to be ready, and willing to implement cutting-edge upgrades to keep up with technology.
Spur growth
Changing your services and product selection can help you grow your business.
Don’t let your pharmacy become stale and complacent with your current products and services. Develop new revenue streams, and expand the services and health care products you already offer.
Innovations can help you increase your income from existing patients, and enlarge your patient base by appealing to new patients.
Innovation is just one of the things your pharmacy needs to compete. Check out these other essential elements you pharmacy needs to be competitive.
Follow our series!
Stay up-to-date with our series on innovation. Each installment discusses a different aspect of innovation including the need for it, the challenges to innovation and tips for innovations you can make in your pharmacy.
Pharmacy Innovation Part 1: Why It’s Important to Innovate
Pharmacy Innovation Part 2: Challenges of Innovation
Pharmacy Innovation Part 3: Innovative Ideas for Your Pharmacy
Pharmacy Innovation Part 4: Habits of Innovative Thinkers
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