HVRS Solutions offers guidance for many aspects, and all of these items will help you work with your customers to provide the best service possible.
So sit back and relax because we've got your back! Our consultants have a proven track record, they are highly knowledgeable about every aspect of running the pharmacy, and have extensive experience in the wide range of procedures and policies that your pharmacy requires to run smoothly.
If your pharmacy has a high employee turnover, your office/billing department is disorganized, you don’t have the bandwidth to handle customer complaints and customer service issues, chances are you are having trouble providing great customer service.
HVRS Solutions assists independent pharmacy owners to accomplish progressive operations such as accreditations, policy and procedure implementation, and revenue and profit expansion.
At HVRS Solutions, our mission is to help independent pharmacy businesses grow while thinking outside of the box and going the extra mile for the patient's benefit.
Our vision is that the independent pharmacy sector grows and flourishes in the face of adversity and ever-changing playing fields.
Are your pharmacy departments optimized for cost savings and overhead reduction? An organizational development strategy can help you to install invaluable programs to realize operational optimization and cost reductions in the following areas:
Staff Orientation / Training (decreased turnover)
Medication Billing / Error Prevention Techniques
Complaints / Customer Service (complaints cost money!)
Cold Chain Distribution (maintaining temperature integrity while shipping prescriptions to patients)
Orientation / Training
Streamline operations and add new programs that create value for the business.
The average cost of replacing an entry-level employee is about 30–50% of the salary, meaning that a pharmacy technician making $12 an hour would equal a cost of $7,500 to $12,500 to replace.
64% of retail new hires (pharmacy technicians included) leave within their first year, 40% within six months.
HR Magazine says companies that invest in training can see an average of 24% more profit due to employee commitment, productivity, and accuracy.
A study done by ATD says companies that offer thorough training have two times the amount of income per employee.
Many studies have proven that effectively training new hires will decrease the turnover rate of the organization.
Medication Error / Billing Error Prevention
Any community pharmacy's overall dispensing accuracy rate is 98.3% without a continuous quality improvement (CQI) program in place. A 98.3% accuracy rate may look pretty good, but let's look at some numbers.
The average prescription mix of a pharmacy is 89% generic, 9% brand, and 2% specialty.
Average generic drug costs $26, average brand $308, and average specialty is a whopping $4,373. These are 2017 figures. This means that a pharmacy that fills 100 scripts a day would see about 408 medication errors a year, totaling $55,818 throughout a year!
This number accounts for medication and billing errors, which are preventable. This does not include costs associated with adverse events experienced by patients, which are not always avoidable.
Med error reduction strategies are another program that a pharmacy would expect to implement in organizational development.
Complaints / Customer Service
95% of customers share bad experiences with others, 54% share with five or more people, and 45% share their bad experiences on social media.
88% of customers trust online reviews as much as they trust their friends (consider how often you check online reviews when purchasing a product online).
A single negative online review costs a company an average loss of 30 customers!
Using the figures and drug costs from the last bullet point, we can calculate that losing 30 customers equates to $124,488 per year!
By analyzing the root cause of customer complaints using tools learned here, a pharmacy can avoid this extremely costly mistake.
And much more!
The HVRS Story
HVRS Solutions is composed of independent pharmacists and pharmacy professionals just like you. We noticed a trend in the lack of resources for small business owners in today's world and decided to become part of the solution to help pharmacy owners succeed in the action.
Next Steps . . .
Give us a call today at (484) 775-8711 or email us to inquire about our services. Just because a service isn’t listed here doesn’t mean we can’t do it!