5 Reasons Your Pharmacy May Be in a Rut – and How to Get Out of It

It’s not always easy to recognize if your independent pharmacy is in a rut. However, if you’re noticing decreased morale, productivity, or growth, it’s often a strong indication that it’s time to shake things up. Here are five reasons your pharmacy may be in a rut – and how to get out of it:

1. You’re in a “comfort zone”.

Often, pharmacies tend to coast once their business is profitable and stable. Rather than finding ways to continue to grow, they settle for maintaining the business they already have. The problem with this is that the industry and your competition are constantly evolving. Although you may be hesitant to try something new, not pushing yourself out of your comfort zone and expanding your business can cost you in the long run.

Fortunately, there are several ways to ensure your pharmacy doesn’t become stagnant, including:

• Keeping up with legislative changes that expand care capabilities for pharmacies, like vaccines, point-of-care testing, diabetic education and more.

• Evaluating your competition and the needs of your community to identify gaps in care and/or opportunities to make your pharmacy stand out. This could be anything from offering delivery services and remote payment options to extended hours.

• Joining pharmacy associations and other networking groups, to connect with your peers and stay on top of trends in the industry.

All these options can help you expand your business, learn how to implement new services successfully and feel more confident about the path forward. Read more >