Those who establish a wellness pharmacy flourish because the better care associated with a wellness pharmacy puts more money into the owner’s bank account.
No more constraints. No more lack of time. You call the shots, and you take care of patients the way you want because it’s your pharmacy.
When properly located and embracing a truly successful business model, you can achieve great success.
Most of the risk can be removed from your newfound venture by your being highly analytical and by using the 3 biggest wealth protectors that you could possibly apply, according to The Pharmacy Sage.
- Know your mission— and make sure it’s the right one
- Always obey Pareto’s Law
- Constantly practice systematic abandonment
Rising Above the Rest
Many highly successful pharmacy owners got there by breaking through limitations, going beyond how other pharmacies are defined. They do more for their patients and provide extra value above and beyond that which the others do.
The most successful owners have the following things in common:
- They are really good at what they do, and it’s all about what they have a passion for.
- They have differentiated their pharmacy. They are not just practicing pharmacy as everyone else in their state is doing nor are they simply abiding by the rituals and practices of the industry. They are getting bigger results with a wider swath of patients and making a bigger impact than anyone around them because they have differentiated themselves in the marketplace.
- They are not in the business of dispensing one-size-fits-all medicine. They dispense medicine customized to each patient’s body, and they apply information and education that goes light years beyond the industry standards.
- They command immense respect from their patients and prescribers because they offer better solutions to chronic health diseases than any other pharmacy.
- They use marketing that gets the job done. And that is the only marketing on which they spend a dime.
- They do stuff. It’s not always dramatic, but there is always a sense that they are doing things that help more patients and they’re making steady progress as they make inroads in their communities.
- Most of them find that they can make plenty of money, but beyond a certain point, that’s not the main point. They get total satisfaction from what they do for patients. As a result, they have happy families, take extensive vacations, and even enjoy hobbies and community attachments.
What Constitutes a Wellness Pharmacy?
First, it deals rather differently with patients’ chronic diseases. Primarily, it provides superior quality nutraceutical supplements as an avenue of combating those aches, pains, and other discomforts that befall its patients.
For instance, rather than supplying the usual, publicized flu shots, it helps patients self-immunize. As a result, by taking 1 or 2 herbal supplements daily, a patient can build his immune system to fight the usual rash of upper respiratory viral infections so that he does not succumb to the flu, colds, bronchitis, or even pneumonia. In essence, he is building his glutathione, his master defense mechanism.
As a result, that patient is also reducing the effects of allergies and any asthma that is based on allergies. No more need for allergy shots. No more doctor visits.
Another example can be arthritis. As you well know, OTC NSAIDs can damage the liver and create other upheavals in a patient’s body. On the other hand, you can supply high potency herbal and homeopathic supplements that can do as good a job, even better, without the adverse effects.
The same holds true for muscle and tissue pain.
And those are just a few examples. For instance, if you have patients that suffer from:
- Other chronic diseases
If you practice systematic abandonment month-in and month-out, you will have a pharmacy business that runs like a lean, mean, fighting machine. You will constantly reallocate your investment in products, services, people—even ideas—from low profit areas to those that are much higher. You will always be seeking the best, most profitable ways of doing business. And, you will never have to struggle to make a good living for yourself and your family, nor will you be stressed out.
It is truly time-honored wealth-gathering tool.
The Pharmacy Sage can be reached at (518) 346-7021 or firstname.lastname@example.org
Lester Nathan, MS
A powerhouse in the world of independent pharmacy, Lester offers free business resources for Pharmacy Owners on his website, ThePharmacySage.com. Offering insight, wisdom, and strategy, Lester is an esteemed voice in pharmacy business. Lester helps his clients increase patients and profits in spite of the 3rd party payment fiasco.