As independent pharmacies offer COVID-19 vaccinations, opportunities to attract and retain new patients increase. Ollin Sykes, CPA predicts that independent pharmacies will see a larger supply of vaccinations into the second quarter of the year, which will provide more growth opportunities for their pharmacy in general. In this video Ollin describes how this vaccination period can be an opportunity for growth, and how Sykes & Company, P.A. is equipped to help you prepare for the ever-changing independent pharmacy landscape.
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If you prefer to read this content, the video transcript is below.
Right now, and we’re speaking March, 2021, what we’re seeing are pharmacies trying to locate vaccines because they’re getting a huge demand from their patients. Especially those middle-aged patients that perhaps have not had the opportunity to get vaccinated to this point, as maybe some of the older population has.
I spoke to one pharmacy just recently. They had over 10,000 patients that wanted the vaccine that they could not get. I’m speaking to pharmacies every day that maybe are getting a hundred, enough for a hundred a week or a hundred last week and not sure when they’re going to get another “X” bottles of whatever vaccine they’re using.
What we’re seeing is that this is driving, in some cases, new patients into pharmacies. It’s exposing new patients, or patients that have not been into a regular independent pharmacy in some instances, giving them the opportunity to expand on the services that that particular independent pharmacy is offering. Whether it be, you know, other vaccines, whether it be nutraceuticals, whether it be compounding or whether it be just typical script fills. And obviously the OTC areas they have and sometimes that involves a gift area. So, it is a really good opportunity to be able to show your pharmacy to folks that have not been in your pharmacy previously. And we’ve heard a lot of very positive comments being made by pharmacists that have seen an expansion in the business for those that have been able to get the vaccine.
Over the next 90 days or so, I expect that most pharmacies will probably be able to get their hands on vaccines. Most patients should be able to get vaccinated during this period of time. So, I see the second quarter, calendar quarter, of 2021 being a very exciting period to potentially grow your pharmacy for the future by being exposed to a new patient flood. I just find this quite interesting in the ever-changing world of independent pharmacy.