Over the 10+ years I’ve worked at RMS, smaller pharmacies continually bring up the concern that they are too small to benefit from POS. They feel that because their front end is limited, they have a small staff, or don’t do a huge script volume, point-of-sale is overkill. This couldn’t be further from the truth, and let me explain why.Read More
In under 2 weeks, American Express is once again promoting Small Business Saturday. Why is this important to you? Last year, retailers saw 95 million shoppers on Small Business Saturday. $14.3 Billion is spent on Small Business Saturday. You're going to be open anyway, so why not promote it and get your piece of the action?
How? Spread the word in your community. Run some specials. Merchandise some impulse items at your point-of-sale counter. Display holiday gift items on your end-cap displays.Read More
Since I'm out this week at a tradeshow, I didn't have time to work with Karen on this week's blog. So, this week, I dug deep into our archives and found a gem that we published over 3 years ago that still rings true today. We'll be back next week some some new content. Until then, enjoy!Read More
At RMS, we strive to constantly find ways to improve our client's bottom-line. As a matter of fact, it’s part of our mission statement. To this end, I’m really excited to tell you about a new product that is launching this week, an interface actually, to a new software solution.Read More
We at RMS frequently focus on the things that independent and hospital outpatient pharmacies excel at when compared to the big chains and box stores:
- Better, personalized service
- Actual patient care
- Disease state management, and
- Sensible product recommendations
These and other areas underscore the important niche that more independently focused businesses fill in the communities they serve.
Despite all of this, big box stores still represent a large portion of our customer's competition, and they actually do some things right. As much as I don't like to think about what they're doing right, to be more successful you can't ignore these areas.Read More
Earlier this week I talked a little about why robust point-of-sale reporting capabilities are so important to your pharmacy. Utilizing reports can help you identify areas for improvement. They can also help you to streamline processes so that you spend a lot less time on certain tasks.
But what reports should you be running? Where do you look to get some of the basic metrics that you need to see how your business is really doing? This week I asked our expert support staff to list some of the reports they are most frequently asked for. We ended up with a pretty great list of reports that can give you some really in depth information.Read More
In theory, transactions at the register should be pretty simple right? Scan items, choose a method of payment, tender the transaction, and print a receipt. In reality, it’s rarely ever that simple. In the pharmacy industry, there are countless special needs that your POS system needs to be able to address without slowing down the checkout line. What’s more, you need to be able to set parameters in your system to meet your needs, and then be able to step back and not worry about them again.
Here are some of the most common things that independent pharmacies deal with every day, but that take an uncommon pharmacy POS provider to accommodate.Read More
A sneeze may be a common occurrence in the pharmacy environment. But if the cause is not from a cold or allergies, and is instead triggered by a layer of dust on your shelves, you might have a bigger problem.
Believe it or not, I’m not talking about cleanliness. (Although I’m a firm believer that a clean retail environment is of the utmost importance.) That layer of dust on a pharmacy shelf is probably an indicator that there’s a problem with how you’re managing the inventory in your pharmacy.
If the product on that shelf was managed properly, you wouldn’t be waging a war with dust bunnies. Instead, pharmacy staff would constantly be facing and restocking product inventory.
So for now, it’s time to put away your dust rag and tackle the bigger problem in your pharmacy. Inventory control. Here are 3 things you need to have in place to kick off a successful inventory management program.Read More
At RMS, our world pretty much revolves around community businesses. Specifically local pharmacies. Whether you operate a small apothecary pharmacy, a large retail pharmacy, an independent chain or hospital outpatient pharmacy, we believe in keeping it local and working together to win out over box store competition.
That’s why on black Friday, you won’t find me fighting the crowds for the best deal. I’ll be sitting at this desk just like any other Friday. (Although fair warning... I will be fighting off a food coma) The Saturday following Black Friday, however, is another matter. That’s because the day after black Friday is officially designated as Small Business Saturday. An event meant to promote and encourage holiday shopping at local independent businesses.
I first wrote about Small Business Saturday in 2014. And the phenomenon has only grown. In 2012, an estimated 5.5 billion was spent at local businesses on Small Business Saturday. In 2014 that amount grew to an estimated 14.3 billion. So it seems that the question is no longer “should your independent retail pharmacy participate in small business Saturday?” but “How can you make the most of Small Business Saturday?”Read More
We’ve all heard the expression “use it or lose it” in many different contexts. Believe it or not, it’s a very powerful marketing technique. This is because loss is a much more powerful motivator than gain. For example, the satisfaction we get from finding a $50 bill is much less impactful than the negative emotions we’d feel if $50 fell out of our wallets.
This tendency of ours is called loss aversion, and taking advantage of it can actually play an important role in the success of your independent pharmacy. Here are 4 ways that you can use loss aversion for better results in your pharmacy.Read More