5 Ways Medicine-On-Time’s Newest Product Will Help You Boost your Bottom Line
It takes a lot of work and strategy to operate a profitable pharmacy business. Sometimes it may feel like you are facing an uphill battle. Medicine-On-Time understands your challenges and we are committed to providing products and services that meet your ever-changing needs.
Our newest blog series focuses on your biggest challenges and provides you with actionable items that will be addressed with our newest and most innovative compliance packaging solution yet!
Let’s start with one of your biggest challenges: PROFITABILITY
There are 5 profit-related challenges that our newest compliance packaging solution will help you to resolve:
Offering Services on a Budget
It is incredibly important to offer medication adherence solutions to your patients, but without direct reimbursement for the package, you have to stick to a budget. The consumable products must be affordable. Also, when considering your budget, it is best to have a solution that does not require capital equipment to start out, but will allow you to expand down the road.
Mitigating DIR Fees
Medication adherence measures impact your pharmacy’s bottom line in a number of ways. Having a better understanding of how to improve your measures and offering an intuitive solution for the patient can help you lower DIR fees. There are also pay-for-performance opportunities that go straight to your bottom line. You need a partner and a solution to help you see results!
Efficient workflow and better management of staff hours will ultimately affect your bottom line. If implemented correctly, your compliance package solution should help you simplify workflow and allow you to better manage time and staff hours using an appointment-based model. This requires the right partner, and the right solution.
Attracting New Patients
Your compliance package solution should provide flexibility, market differentiation and branding opportunity for your pharmacy. In addition to this, your medication adherence partner should provide the resources you need to help you create awareness in your community so you can attract new business.
Expanding Clinical Services
Offering clinical services not only helps you diversify your pharmacy business and increase your value to the community you serve, it also generates non-prescription revenue opportunities for your pharmacy. In order to have optimal impact on patient success, your compliance package should be an extension of your clinical and consultative services.