Independent Pharmacy Starter Kit
Opening a Pharmacy: What You Need to Know
Getting your pharmacy up and running smoothly can be intimidating. AAP helps with your first steps, making it easier and more affordable. AAP has gathered expert advice to help you go from idea to execution to profitability.
Start
Manage
Grow
Start
Obtain Pharmacy Licenses
Your Drug Enforcement Administration (DEA) registration number identifies you as a pharmacist and grants you permission to write prescriptions. Apply for your number by mailing in the completed application provided in this link. Instructions are available as well.
Identify your local state pharmacy board, and ensure you have all licenses and qualifications needed to own and operate a pharmacy within your state.
National Provider Identifier (NPI) is a unique identification number for covered pharmacists and health providers that are used in administrative and financial transactions under the Health Insurance Portability and Accountability Act (HIPPA). You can sign up and apply here.
Your Employer Identification Number (EIN) is vital for any start-up pharmacy. This assigned number is used to identify tax accounts of employers, who are required to file business tax returns. You can apply for your EIN by clicking this link.
National Council for Prescription Drug Programs (NCPDP) Number
Pharmacy Supplies
Front End Inventory and Supplies
Stock your front end with OTCs and merchandise that will keep your patients coming back.
Bags
Whether you decide to go with paper, plastic, and/or other alternatives, your pharmacy will need bags both for prescriptions and for front-end products. They’re also a great place for branding!
Credit Card Processors
Before opening, be sure your business is set up to receive at least all standard forms of payments. Also consider whether you would like to accept other forms of payment such as Apple Pay, Google Wallet, etc.
Office Supplies
Stock up on office essentials! Get better prices from AAP’s Preferred Partners.
Pharmacy Laws and Regulations
The Health Insurance Portability and Accountability Act (HIPAA) Privacy, Security, and Breach Notification Rules protect the privacy and security of health information and provide individuals with certain rights to their health information. You play a vital role in protecting the privacy and security of patient information.
See this free web-based training course for combating Medicare Parts C and D fraud, waste, and abuse.
Serving older patients with Medicare is an important part of being a pharmacist. Read through these free online materials for Medicare Parts C and D general compliance training.
Pharmacy Management Systems
A pharmacy management system (PMS) is a computer-based system that manages and organizes the medication dispensing process in a pharmacy. A PMS automates the pharmacy’s workflow and handles tasks such as:
- Reviewing orders
- Preparing medications
- Managing inventory
- Making medication orders
- Billing and insurance
- Counseling
- Identifying incompatibilities
- Prescription filling and processing
- Point of sale
AAP’s Preferred Partners include several systems to help enhance your pharmacy’s operations and streamline your workflow.
Build Your Brand
Website
A website is an essential part of making sure patients can find you, and a great opportunity to build your brand and provide information about your products and services. Have all relevant information about your business available and placed prominently: Phone number, address, email, hours of operation, and the like.
Marketing Material
Make it easy for your patients to recognize your brand everywhere! If you do not have a printing solution available near you, you can easily create and print posters, flyers, business cards and more with cost-effective, high-quality online printers.
Social Media
Create social media accounts to interact with your patients and community. Facebook, LinkedIn, and Instagram are usually the best options for businesses, but only start as many as you have time to update. Like mentions and reply promptly to messages and strive to provide content that is useful to your patients
Manage
Manage Employees
Employee Performance Management
Increase productivity with a motivated workforce.
Monitor Income and Expenditures
Beyond your pharmacy management system, there are many software options for boosting your pharmacy’s profitability by leveraging your own data. AAP offers ProfitAmp to its members–a comprehensive business intelligence tool that delivers a deeper look into pharmacy operations.
Financial Advising
Know where your money is coming from and where it’s going! Financial awareness is key to running a successful business.
Payroll
Payroll Processing Solutions
Manage your employees effectively with an automized payroll system. Check out AAP’s Preferred Partners for options.
Inventory Management
Ordering Systems
Determine what ordering platform and inventory management system will be most efficient for your pharmacy. You should be familiar with the ordering options offered by your suppliers. AAP’s subsidiary warehouse, API, offers online ordering, EDI orders through a number of service providers, and our proprietary ordering system Scan & Toss® is even available through an iOs or Android mobile app.
Pricing
Drug Pricing
Learn how to navigate supply and demand in the marketplace, competitive pricing in the industry, various government policies and more!
Identify Operational Efficiencies
Staffing
The staff you hire can greatly impact the overall success of your independent pharmacy!
Pharmacy Layout (six-sigma)
Your pharmacy can benefit from applying Lean Six Sigma (LSS) techniques!
Software
Beyond your pharmacy management system, there are many software options for boosting your pharmacy’s profitability by leveraging your own data. AAP offers ProfitAmp to its’ members–a comprehensive business intelligence tool that delivers a deeper look into pharmacy operations.
Automation
From vial filling robots to adherence packaging robots, technology continues to revolutionize operations for pharmacies of any size and processing volume.
Health Insurance
Coverage
Learn what to look for when shopping for insurance plans.
Front-End
Consider how you would like foot traffic to flow through your pharmacy. Help your pharmacy store’s OTC shelves stand out with AAP Plan-O-Grams!
AAP is proud to offer Retailplanograms.com, exclusively to AAP members. Retail Plan-O-Grams is a collection of relevant retail sets for the independent drug store industry. Drawing from all sources of retail data including POS (Point of Sale) data from independent drug stores, AAP has developed a unique approach to creating OTC planogram sets versus other suppliers.
Inventory
Keep your front end stocked with products from AAP’s thoroughly vetted front-end Preferred Partners.
Grow
Market Your Pharmacy
Growth Strategies
Adapting fresh and unique ways to market your pharmacy and bring in new customers are the building blocks for any successful business.
Open Another Location
Financial Resources
Once you are ready to expand your business to new locations, it can be a challenge to finance a new store. Banks and the Small Business Administration can help you secure the funding you need.