There are many pharmacies throughout the United States. From specialty pharmacies, to mail order to retail pharmacies, they are scattered in throughout the nation to reach every American in need of medication. Pharmacies rely on doctors and prescribers to write prescriptions. Without a prescription, a pharmacy cannot service a patient.
In order for a pharmacy to be successful, they must market their services to prescribers and establish a rapport with manufacturers, pharmacy benefits managers, and payors. Manufacturers often provide discounts to patients in the form of coupons. Hub services also play a vital role in the success of a pharmacy. Contact Pharmhandz to find out what they can do for your pharmacy with one of these entities.
The medication provided by pharmacies depends greatly on the supply and availability of their resources. Opening a pharmacy is no easy task, but harder still is competing with the big brand names as an independent pharmacy. Purchasing or leasing a franchise from a big name in pharmacy may seem like a wise business decision, but that greatly depends on what value that purchase would offer the new business.
Operating a pharmacy is no easy task. From acquiring prescriptions to performing prior authorizations or clinical assessments, a pharmacist’s life is always busy. With the help of technicians and other office staff, the pharmacy is quickly buzzing with activity from the moment it opens until closing time.
Patients and customers seldom appreciate how much work goes into running a pharmacy or filling a script. One of the biggest sources of revenue and most frequently missed opportunity for recurring revenue streams is the refills of prescriptions. With new scripts constantly coming through the door, and patients forgetting to renew their scripts in a timely fashion, it is up to the pharmacy to set aside time each day for refills.
The purpose of any pharmacy is to fill prescriptions. Sounds simple enough, but in order to provide fulfillment of prescriptions, pharmacies and their employees must perform a wide variety of tasks for each and every prescription they are presented with.
Ultimately, the patient or customer is unconcerned with how much work goes into filling a script. Their main concern is the turnaround time and the level of service they receive.
Pharmhandz Associates believes it’s in the best interest of all parties involved to always provide exceptional, white glove service to every patient, customer, or business partner.
Purpose is what drives each one of us, regardless of our chosen career paths. And in the case of pharmacies, our purpose is to improve the health and well being of our customers while doing no harm.
If you are interested in opening a pharmacy, but need support and guidance to ensure your business model is successful, then read on.
Pharmacy Franchise Option
With Pharmhandz, the purchase of a pharmacy franchise would include many benefits not readily available from other big name brands, because they depend on their name alone as the selling point of their business. Pharmhandz Associates offers new pharmacies the opportunity to open a franchise under its name for a reasonable cost and provides support and services every step of the way to ensure the business model succeeds form day one.
By taking on the Pharmhandz Pharmacy, Pharmhandz Specialty Pharmacy, or Pharmhandz Mail Order Rx name(s), a purchaser of the franchise opportunity is guaranteed for success as an independent entity with the support and guidance of leaders in the pharmacy business.
With a small investment of $175k, as well as some capital to purchase or lease property and inventory, a new pharmacy owner can be up and running as well as fully protected by the Pharmhandz guarantee. We don’t vacation; we don’t break, and we don’t rest until every franchise with the Pharmhandz name is running at maximum capacity and realizing an ROI that makes sense to the investors.
We provide the marketing collateral, the policies, the standard operating procedures, the work instructions, diagrams, technical notes, guidelines, runbooks, user manuals, best practices, and other documentation. We staff the pharmacy with hand-picked employees best fit to support their respective roles from the local pool of recruits. We design the website with an e-commerce option that generates revenue.
From work instructions, to SOPs, to policies, guidelines, and technical notes, Pharmhandz provides the documentation necessary for new employees of a pharmacy to hit the ground running without any need for training by other personnel.
Additionally, the franchise is provided unlimited escalation support by some of the best and most knowledgable pharmacy experts in the business.
Also, Pharmhandz will handle the recruitment and onboarding of all the staff necessary to run a successful pharmacy.
Accreditations can be a handful, so Pharmhandz prepares and assists all new franchisers with the support they need to gain valuable accreditations.
With those accreditations, pharmacies become more attractive to hub services, marketing groups, and pharmacy benefits managers. Pharmhandz handles the negotiations on behalf of their franchises to ensure they remain profitable into the distant future.
We work with hubs, marketers, and PBMs to ensure the pharmacy has fulfillment requests right from the beginning. We assist in advertising. We create brochures, enrollment forms, pamphlets, business cards, and more.
We provide access to a community online of members only, where our franchise partners can communicate and work together to build business and share information.
We provide remote support for escalations, audits, and other matters that require expert professional assistance on demand for as long as you own the pharmacy.