Pharmacy networking

Pharmacy networking

Pharmacy networking 1200 631 Pharmacy2020

Successful businesses often arrive at a peak; they have no longer the dynamics or the means to continue expanding and growing. It is a decisive and critical point which requires joining forces and partnering in order to acquire additional expertise, strategic guidance, sophisticated management and economies of scale, in order to achieve further growth.

Networking between pharmacies brings added value, while being a shield for smaller pharmacies which strive to find vital space in the market.

It is usually a management company which undertakes the administration, organization and promotion of sales in pharmacies under the same umbrella. Successful networking gives a lot of benefits:

  • improves operating costs
  • boosts sales
  • optimizes of human resources management
  • provides a common computerization & logistics system
  • provides accounting and legal support

The above can result in:

  • acquisition of a larger market share
  • development of new business units or sales channels
  • creation of new health services
  • negotiating power over suppliers
  • efficient control mechanisms
  • development of investment funds
  • access to new financial resources

Networking is a strategic agreement that delivers the expected results on a medium to long term basis. Pharmacies operating under high competition and in deregulated markets may have no alternative than to join forces in order to secure growth and sustainability.