Payment processing is often an overlooked part of running a pharmacy. Most pharmacists receive a monthly statement, pay what’s due, and move on. While this process seems simple enough, too often, it translates to paying far more in credit card fees than you realize, often without a clear understanding of where those costs come from.Every time a patient pays with a credit or debit card, multiple systems and organizations are involved behind the scenes. Card networks, banks, processors, and software platforms all work together in a complex network behind the scenes. When those vendors are disjointed, disconnected, or poorly explained, you may find it hard to understand exactly what you’re paying for, and why.
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Your independent pharmacy is facing more competition than ever before. Not only are you up against national pharmacy chains and mail order services, but distribution giants like Amazon have entered the industry as well. To ensure your pharmacy continues to be successful, it’s important to make customer satisfaction a priority in the year ahead.
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Falling temperatures and winter weather can prevent customers from making the trek into your pharmacy. Whether it’s just too cold to leave the comfort of their home, or snow- and ice-covered roads make driving a challenge, providing customers with other ways to access care and their medications is essential.
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The end of the year is not only the beginning of Open Enrollment for many, but it’s also crunch time for those with Flexible Spending Accounts (FSA). FSA accounts are a great way for people to set aside money tax-free, to use on eligible wellness items.
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The holiday season can be one of the busiest times of year for pharmacies. Not only does it mark the beginning of cold and flu season, but the demand for over-the-counter products also increases. Before you find yourself swept up in the holiday rush, it’s important to make sure your pharmacy is prepared.
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Until recently, the process and cost of obtaining hearing aids has been a barrier for many patients. In fact, an estimated 30 million U.S. adults could benefit from hearing aids, but only 1 in every 5 are using them. This significant gap in care led the FDA to develop regulations for a new category of hearing aids that are available over the counter.
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Contrary to what you may think, most purchases are still being made in store – not online. What is changing is the customer’s path to purchase, and whether they end up in your store. Now, shoppers are spending more time online, planning and researching before making a purchase. In fact, nearly half of consumers confirm product availability online before making a trip to the store.
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Discounts are a great way to entice customers to purchase over-the-counter items while they’re at your pharmacy. When used correctly, they not only help you retain and attract new customers but can increase your sales as well. To prevent your bottom line from taking a hit, it’s important to think through how and when you offer discounts – and who they’re offered to.
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