How Compounding Can Help Your Pharmacy Generate More Revenue

Boost revenue for your pharmacy business by compounding.

Large chains like Walgreens, CVS, and Rite Aid dominate the pharmaceutical industry. As an independent pharmacy, you are constantly looking for ways to stay relevant and offer personalized services that help you build a relationships with your community that larger pharmacies are unable to.

Turning your pharmacy into a compounding pharmacy is the best way to set yourself apart from the chains and give your community the personalized experience they are looking for.

What to consider when deciding whether to specialize in compounding:

Facilities:

Compounding pharmacies do not have to have a separate facility in which they mix the drugs. However, the facilities they do use need to be separated from the rest of the pharmacy. The mixing tables should be located away from routine dispersing and counseling areas. There should not be any dust collecting overhangs or cardboard boxes in the area. Temperature and humidity has to be perfectly controlled. Whether this means expanding your space or renovating an existing area, the rewards of having these capabilities in your pharmacy are worth the upfront costs.

Equipment:

Most pharmacies are already equipped with the graduated cylinders, scales, mortar and pestles, and spatulas needed to mix compounds. However, sterile and non-sterile compounds  can be more effectively mixed with more specialized equipment. For weighing equipment, investing in a top-loading electronic balance is standard. For measuring drugs, many pharmacists use calibrated syringes, cylindrical graduates and micropipettes for heightened accuracy. For mortars and pestles, each pharmacists should have at least two types – one glass and one wedgewood or porcelain.  In addition to the higher-tech equipment that needs to be purchased and maintained, pharmacists should factor in weighing papers, cups, disposable dishes, filter paper, beakers, glass stirring rods, a source of heat, and a refrigerator and freezer.

Personnel:

All pharmacists are formally trained to compound medications.  When hiring personnel to begin compounding, one trained pharmacists can oversee a team of other employees if they correctly train them on procedures such as how to correctly use the equipment, different pharmaceutical techniques, and how to handle nonhazardous versus hazardous materials. While hiring additional employees to fill these roles can be expensive, the services that they add to your pharmacy is worth the investment.

The information contained on this page is for general informational purposes only. It is not legal advice and should not be relied upon in making borrowing decisions. Fundation loans are subject to lender approval.

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