Independent pharmacies aren’t going anywhere. Especially since the start of the pandemic, they have proved their value to their communities and to the United States as a whole. From continuing to dispense medication during quarantine to administering COVID-19 testing and vaccinations, local pharmacies are getting their time in the spotlight and being recognized for the services they have been offering to their communities for years.
While there has been a slight net decrease in the total number of independent pharmacies over the last several years, a study by NCPA shows that there is still a significant number of new pharmacies opening up every year. The trend that continues to hold true is that financially smart and business-savvy independent pharmacies are resilient and successful, even in a changing market. The COVID-19 pandemic has brought on a variety of challenges for pharmacies, but the ones who were prepared to take the challenges head-on and take advantage of new opportunities were the same stores that have not been negatively impacted. These stores have actually seen greater success and were able to quickly adapt their business model for these new circumstances.
All this to say - if you are thinking about opening your own pharmacy, you have the potential to start a successful business. It’s all about having the right strategy to diversify your pharmacy, because it’s no longer just about dispensing medications. It’s about supplementing your patients’ overall health through a variety of enhanced clinical services, which in turn bring in new streams of revenue for your business. In order to provide these enhanced services, your pharmacy will need a robust software system to help streamline your workflow and support any necessary integrations. This is why it is critical to choose the right pharmacy software system from the start. Opening a new pharmacy is a great time to decide on a software that will empower your pharmacy to thrive during the coming years. Customer support is also an important aspect of choosing a software vendor, because that will determine how smooth your transition process will be, as well as how easy it will be to interact with your vendor and get questions answered in the future. You want to choose a partner that will have your pharmacy’s best interests in mind and be there to support you throughout your business journey.
Your software is the core of your pharmacy. It connects every aspect of your business and every operation will run through your software system in some form or fashion. By doing your research and installing a powerful software right from the beginning, you will save yourself time on not having to convert to a whole new system down the road. There are many factors that influence why an independent pharmacy might convert to a different software vendor, and one of those factors might be that they have simply outgrown their current software. Some new pharmacy owners might choose a simple system at first and then deal with finding a more robust solution later once their pharmacy grows in its services. However, by making the right investment at the start, it can save time on going through the conversion process again and having to go through a new learning curve for your staff. By choosing a pharmacy software that is customizable and can grow along with your business, you can master your software and have time to focus on your patients.
In the same way that your pharmacy will be growing and innovating over time, your software vendor should also be adapting its feature-set to support your changing needs. This has especially been highlighted during the COVID-19 pandemic, as independent pharmacies have had to suddenly adapt to new challenges with no break in servicing their patients - even during quarantine lockdowns. As an essential business, pharmacies have had to figure out ways to shift their operations to be socially-distant and offer new services that are rising in demand. Pharmacies with a powerful software that quickly released new feature updates in response to the pandemic were equipped to continue safely and efficiently serving their communities. This shows how critical it is to have a software vendor that will always set you up for success and keep up with shifts and trends in the industry.
As an aspiring new independent pharmacy owner, make sure that researching and choosing the right software is high on your list of priorities. To start your research, head on over to our Comparing Software page to evaluate the top software vendors in the market. We show you the results of an independent 3rd party market study that interviews pharmacy professionals just like you. Learn which softwares have the highest customer satisfaction, which softwares new pharmacies choose to open their stores with, which softwares retain their customers best, and more.