Pharmacies are a crucial part of society, and because of that, they are often lucrative businesses to own. The independent retail pharmacy business can be tricky to navigate, mostly due to the regulations and guidelines involved in getting and keeping a pharmacy license.
Starting a pharmacy from scratch can seem like a daunting venture, and you should never go into it blindly. It takes hard work, industry knowledge, and determination. Knowing the requirements to open a pharmacy is crucial for its success.
Serving customers and helping them take control of their well-being is a rewarding experience, but you must follow these five tips below:
1)- Location Analysis
Like with any other business in a competitive industry, the right location is crucial to its success. Look for locations near medical practices and clinics, that way you know that your pharmacy will be in the right place, at the right time.
Perform a location analysis by approaching doctors and other prescribers in your desired area and finding out whether they think the local community could benefit from an independent pharmacy in the neighborhood.
2)- Licensing Requirements
One of the most crucial steps for starting a pharmacy is knowing what permits and licenses you are legally required to have, especially with an after-hours pharmacy for people seeing a doctor outside of normal hours. There are multiple requirements at federal and state levels, and the ones specific to your potential pharmacy will depend on where it is.
The basic requirements include a pharmacy license, a National Provider Identifier number, and other vital numbers like a Drug Enforcement Agency number. Hire an experienced attorney to guide you through the process.
Pharmacies have several equipment needs, and it will take a skilled pharmacist to ensure each element is in place. A fully equipped pharmacy needs dosage measure racks to accurately measure out medication for your patients, computers to help process orders faster and more accurately, and good quality combination medical refrigerator.
Many medications are highly temperature sensitive – the only way to ensure your patients receive their scripts in good order is if they are stored properly. A good example of such a medication is insulin; it must be kept cool – otherwise, it won’t work and will lead to hospitalizations and even deaths.
4)- Professional Resources
Most people expect more from their local pharmacy than just fulfilling medication scripts. Pharmacies are a cornerstone of the community and s be safe places where people can feel comfortable when they are sick and at their most vulnerable.
You can make your pharmacy a haven for the locals by offering professional resources such as pamphlets and brochures so people coming in can learn more about diseases and conditions that they might be susceptible to.
5)- Focus On Patient Experience
When focusing on the patient experience at your pharmacy, always think of ways to make your customer’s life easier. Digital tools give patients the ability to contact you when it is convenient for them and from wherever they are.
Add an option to your website to make it easier for patients to request script refills, ask for information, or request to speak to a pharmacist. The way your pharmacy communicates with your clients will make all the difference.