Running a successful independent pharmacy is tough. With lowered medication reimbursements, more chain competition on every corner, and high DIR fees… how can you survive, let alone thrive in this environment? A recent study by NCPA found almost 60% of pharmacy owners reported they’re most likely to be out of business by 2021. Also, 19%…

Health Costs Dearly Surveys have shown that patients who are required to consume prescription medication fail to do so once the doctor has given them prescriptions to fill. This is called “prescription non-adherence.” The reason? The high cost of the medication itself. This is a crucial issue that needs to be addressed by everyone involved…

Every business owner knows that it takes a lot of time, hard work, and dedication to be successful. As an independent pharmacy owner, you know it takes all of these things and more to operate a profitable business. One of the largest investments you will make in your pharmacy is in purchasing product inventory. Managing…

Over the years, the pharmaceutical industry has made huge profits from the necessary and sometimes life-saving medications that are needed by its customers. In fact, according to the JAMA Network, “From 2000 to 2018, 35 large pharmaceutical companies reported cumulative revenue of $11.5 trillion, gross profit of $8.6 trillion, EBITDA of $3.7 trillion, and net…

Independent pharmacies are businesses that follow typical practices such as strategizing how to retain customers. A study conducted by AccentHealth and Drug Store News found that several issues were important to customers who frequented pharmacies. Of the 745 patients surveyed, some of the important factors for satisfaction included short wait times, cleanliness and adhering to…

The coronavirus pandemic has effected all facets of life, and the impact on the pharmacy is no exception. Because it is part of the medical world, pharmacies are seeing a particular impact from the pandemic. While some doctor’s clinics have shut down or converted to only telemedicine appointments, the pharmacy has remained open. Still, they…

In March 2020, COVID-19 was declared a pandemic by the World Health Organization. Just a few months later vaccine development began and in January 2021 vaccinations began in the United States for medical professionals, first responders, and senior citizens. Over the next few months, the COVID-19 vaccine will be available for the general public. Now…

When you are a small, independent, or family-owned pharmacy, you may find a lack of resources when it comes to business solutions. This absence can include essential parts of the business like accounting, cost vs. goods analysis, quality assurance, compliance, licensing, strategies, and so much more. The need for pharmacy solutions and resources can come…

Throughout a year of COVID and other issues, your independent pharmacy may go through without a worldwide pandemic, crushing the appeal of the big-name pharmacies for your hometown business may be more complicated than it seems. Yes, you have good customer service, hometown pride, and know most customers by name. However, with demand, there needs…

Picking a pharmacy consultant for your independent pharmacy gives you access to many tools that you may not otherwise know or have access to. HVRS Solutions has many tools to offer you on top of years of experience. Keep reading to see all we can do to help! Accreditation Guidance Accreditation assures your patients that…