Clean the Dust Off Your Profits
You’re walking past those pharmacy shelves again.
There’s a thick layer of dust coating the pill bottles and prescription food cans.
I see this all the time—expired medications lining shelves and pet food taking up space when it's not selling.
It’s not just inventory; it’s wasted money.
It’s profit that could be reinvested into something that truly benefits your practice and improves your level of care.
Here are the main money waster culprits draining your profits:
Expired Medications: It’s painful to see costly medications go to waste, even when it’s a waste of profit too. Take a closer look at what’s expiring soon, and ask yourself if you really need to order as much next time. Could you shift to a “just-in-time” ordering system for some of these items?
Pet Food that Doesn’t Sell: It seem like you’re being helpful to client by stocking specialty or prescription pet food. If it’s just sitting on the shelf for months, though, it’s time to reconsider. Can you partner with an online pharmacy to offer these items instead of tying your fund up?
Slow-Moving Products: Keeping a stock of calming treats or grooming supplies means you can offer your clients everything in one place, but only if they opt to buy it from you. Evaluate your inventory to see if you can reduce orders for these extra items. Are there items worth stocking or can you stop buying them altogether?
My advice is simple: take stock of what’s sitting on your shelves and adjust your orders.
The money you save from reducing pharmacy waste can be reinvested where it truly matters—from new equipment to well-deserved team raises.
Improve your profitability, by taking a closer look at the most important areas of your practice.
Use my 5 practice KPIs guide as a jumping off point to review your profitability.
