Another year has passed and COVID-19 is still affecting millions of lives and businesses around the world. It is altering everything we have taken for granted; from the way we interact with each other to the safety measures taken to prevent the spread of the virus. Even businesses are being reshaped to meet such demands; and on top of them is the pharmaceutical industry.
In the early months after the outbreak, we’ve witnessed the panic among citizens due to the shortage of certain medications and disinfectants. Many pharmacies weren’t able to meet the increasing demands of their patients which led to a severe wave of anger and dissatisfaction.
This led many pharmacy owners to improve the way they do business to prevent the occurrence of similar catastrophes that affected patients and businesses alike.
Here are some retail pharmacy trends that have been adopted by many pharmacies in recent years.
Understocking and overstocking are two enemies for any pharmacy. Of course, you want to have enough medications and pharmaceutical products that cover all patients’ needs. Meanwhile, you don’t want to have too many products that are not needed. Striking a balance between this and that is exasperating if you are not relying on accurate data.
To prevent such scenarios, many pharmacies are now investing in integrating a powerful pharmacy management system into their business. Such technology allows pharmacists to have better and easier stock management through knowing what needs to be reordered and what doesn’t. Further, it provides them with a better understanding of patient demand and sales trends.
If you own a pharmacy chain, one thing you want to make sure of is that all branches are supplied with enough products, and provide consistent patient support. Of course, it is inconvenient to do so by visiting each branch every day. And it would be chaotic if you don’t keep an eye on each branch’s operations.
This can be solved through centralized management, existing in smart pharmacy ERP software. Investing in this solution can help you monitor, manage, and control all branches from a single screen. You won’t need to visit the branches as you can check everything from your place. You can use software data to better understand the staff performance, sales trends, inventory demands, and more across all branches.
Also, instead of ordering a new shipment, you can check the other branches and distribute the products equally.
Patient satisfaction is what keeps your business going, and you can’t achieve that if you don’t build a strong relationship with your customers. They want to feel cared for and listened to. This intimate connection between patients and pharmacists should be the focus of your business in order to bring in more revenue.
Several pharmacy ERP systems help pharmacists provide personalized care through storing and analyzing their patients' data. This data can be used later on to form tailored advice, discounts, and promotions for each patient.
Want to improve your pharmacy management and increase sales? dawatech is a smart cloud-based pharmacy management system to get you started. Request a demo