Reference Pricing remains the main concern for most pharmacy owners followed by FEMPI cuts and it is estimated that this will continue for the next foreseeable future.
In order to make up for all the cuts, the business owner has to look at where to cut other costs, increase the efficiency in all processes, and increase customer services. When analysing your business, focus on the following points:
- Maximise your profit margin – analyse running costs, review buying strategies, analyse data that is important to your pharmacy.
- Focus on customer service – put the customer at the center of everything you do. Creating a great customer experience is not difficult when everyone in the business is supporting one another, sharing common goals and are committed to providing high levels of customer service to both external and internal customers.
- Optimse your processes – streamline operation processes, reduce stock levels, implement efficient systems.
- Introduce new services- differentiation is key in a high competition market. Use every method available to you to advertise and promote these services.
- Boost your productivity – how much is 1 hour of your time worth? How much is 10? And what about 100 hours? Imagine the impact on your business if you could use this free time to complete projects that are much more valuable or take time with your customers.
I work with Pharmacies to address all the above listed points and more, together we can fight the impact of Reference pricing and FEMPI cuts!
To arrange a free, no obligation meeting call me on 087-61 33 333 or email firstname.lastname@example.org.
View my happy customer’s testimonials and read for yourself how Pharmacy Cost Saver can help your business.