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How Pharmacies can increase revenue by helping patients save money

By April 1, 2021August 20th, 2021No Comments

Fun fact: helping your patients save money as a pharmacist can benefit your business! Providing solutions to your patients’ problems can generate extra revenue through Over-The-Counter (OTC) product or clinical service sales and create loyal customers that choose your pharmacy to fill prescriptions more consistently. Here are some of the ways you can help your patients stay on top of their care and save money on their prescriptions while helping your pharmacy at the same time.  

  • Help the customers that need to switch to generics:
    • Expensive medication can lead to abandoned prescriptions and a loss of revenue for pharmacies. Providing a patient who can’t afford a brand name with an option to switch to a generic leads to more consistent prescription fills and increased patient trust. You’ll save time and money by dealing with less abandoned medications and inventory hassle.
  • Help patients who have side effects take a different medication or help them find an OTC product that helps:

    • Community pharmacies are already a trusted resource for patients and by becoming a focal point for community healthcare, pharmacies can expand their means to help patients.
  • Recommend telemedicine consultations for patients that need to speak to a medical provider and then fill the prescription, all while at your pharmacy:
    • More options and telemedicine medical provider consults increase trust, help make diagnosis easier for the patient, and drive more revenue for the pharmacy. 

When you help your patients save money, they trust you and your services more, and they choose your pharmacy over the competition. Many patients use multiple pharmacies, so it’s important to nurture your relationships with them. Your revenue will increase both indirectly and directly with more consultations, more prescriptions written, more OTC products, and more return customers who will even convert their chronic prescriptions to your pharmacy and refer you. 

myphysician360 makes it easy to save your patients money and stand out as a pharmacy by combining telemedicine consults with point-of-care testing, allowing patients to receive a diagnosis and a prescription from your pharmacy, all at once. You directly gain revenue from both the sale of the test kits and by filling the prescriptions that follow and indirectly gain revenue through an increase of patients switching their regular medications over to your pharmacy and buying more products from you. 

If you want to distinguish yourself from the competition and compete with large-chain pharmacies by offering rapid test kits and access to telemedicine urgent care to help your patients, get started today by clicking here!