HealthGrowth Capital Lending and Patient Satisfaction

Profit Increases

October 18th, 2017 Posted by Industry Insights 0 thoughts on “Profit Increases”

Independent pharmacies are looking for ways to increase profits. A common misconception is that businesses need new customers to increase revenue.  However, increased profits can come from the loyal customers that already know your business well.

1. Work smarter. In order to increase profits, first analyze all of the data on existing customers, which products are most profitable and current trends in the market.

2. Provide quality customer service. You are able to provide face-to-face customer service that online mail order services cannot.Patient satisfaction can have a tremendous impact on your bottom line. Improving patient satisfaction begins by making them feel comfortable and like they really matter. That is a direct result of taking care of your clinical staff.  Customers are more likely to continue to fill their prescriptions at a pharmacy they can trust.

3. Analyze your marketing strategy. Are you advertising? Do you use social media? Are there discounts or coupons for customers? Is there a rewards program? These are things you may need to consider when analyzing your current marketing strategy. By implementing some new tactics in your strategy, you’ll be likely to increase your audience.

4. Retrain your team. A knowledgeable staff is your strongest ally when it comes to selling more products.  Supporting your clinical staff with the proper resources creates a smooth flow in the office.

These steps increase customer satisfaction, build relationships and reduce pharmacy workload, as well as increasing your profits.

Patient satisfaction can have a tremendous impact on your bottom line. Improving patient satisfaction begins by making them feel comfortable and like they really matter. That is a direct result of taking care of your clinical staff.

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HealthGrowth Capital provides financing options exclusively tailored to the needs of healthcare professionals who are striving to improve their practices and healthcare businesses in order to deliver a higher level of patient care.
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