Comparing margins and markups to ensure a healthy pharmacy in your practiceMay 15, 2024Many practice managers and owners may not have a full understanding of the basics and importance of margin and markup pricing. Learning more about those can help the clinic recover from costs of expensive medication and provide better patient care.
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Is your online pharmacy working for you?November 29, 2022Online pharmacies have been in existence for decades, yet animal hospitals still seem to make minimal use of this handy tool.
Not every clinic can attest to a COVID boomMay 26, 2022There is a range in how COVID has affected veterinary practices. Some clinics are booming with new pets adopted during the pandemic; others are experiencing low volume and revenue.
Maintaining a smartly stocked pharmacySeptember 22, 2021We live in an era of convenience. Clients want instant gratification and products delivered to their doorsteps.
The great pharmacy shift: Tips to keep dollars in house againAugust 6, 2021Over two decades ago, online pharmacies created a huge shift in an area that used to be a given revenue stream for practices.
How to organize and manage pharmacy and inventoryJuly 29, 2021Having a practice’s money tied up in pharmacy inventory (be it medications sitting on the shelf or supplies in a central supply area) can be a pain point for discussions with practice owners and managers, especially with in-house pharmacies that have higher than ideal inventory costs.
This pharmacy mistake costs you thousandsJune 11, 2021Turn on refill reminders. Pharmacy sales represent 25 to 30 percent of revenue in companion animal practices.
When clients question your pharmacy pricesMay 8, 2020When your team educates clients about the safety and benefits of buying pet medications from your hospital, you’ll win their trust, confidence, and loyalty.
Saving your pharmacy from e-bizSeptember 12, 2019If you’re not nervous about your hospital’s pharmacy, you should be. As if running a small business isn’t hard enough, now e-commerce giants and mega-retailers want to steal your veterinary hospital’s pharmacy business.
Walmart launches pet pharmacy, opening more in-store clinicsMay 7, 2019Walmart says it is launching its first pet pharmacy and opening more in-store veterinary clinics. "These clinics offer affordable, high quality, and convenient services to save customers as much as 40 to 60 percent on vaccines and minor illness packages and exams," the company wrote on its website. The news comes at a time when private practices are already competing with online pharmacy retailers that are digging into their revenue. According to Walmart, it will provide low-cost prescriptions for dogs, cats, horses, and livestock through WalmartPetRx.com. The website will offer more than 300 brands to treat conditions such as flea and tick, heartworm, allergy, and arthritis, which are main sources of income for veterinarians. Walmart will also offer home delivery. The option to pick up pet prescriptions in-store will be available later this month, as the retailer is stocking more than 4,500 of its pharmacies with the 30 most requested pet medications. Walmart says it will be opening nine new clinics in the Dallas-Fort Worth area, Tex., in late May and June. It has plans to expand to more than 100 locations over the next 12 months.
