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The Growing Opportunity in Functional Medicine: A Business Case Beverly Schaefer, RPh, Co-owner, Health Advisor Katterman’s Sand Point Pharmacy,

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Presentation on theme: "The Growing Opportunity in Functional Medicine: A Business Case Beverly Schaefer, RPh, Co-owner, Health Advisor Katterman’s Sand Point Pharmacy,"— Presentation transcript:

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3 The Growing Opportunity in Functional Medicine: A Business Case Beverly Schaefer, RPh, Co-owner, Health Advisor Katterman’s Sand Point Pharmacy, Seattle, WA

4 Disclosure Beverly Schaefer declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings, and honoraria.

5 Learning Objectives 1. Discuss the scope of the functional medicine market and its composition of health care professions as potential partners for pharmacy. 2. Identify target patient populations and outline marketing strategies and themes for expansion into functional medicine. 3. Outline incorporation of an appointment-based model for functional medicine into pharmacy workflow and discuss add- on revenue opportunities.

6 Health care is taking the long view

7 How do you start a conversation about health?

8 How do you start a conversation about health?
Offer opportunity to change thinking long term diet and exercise Offer information articles, reprints, new guidelines Offer measurable outcomes body composition lab results

9 Offer a new style of communicating with patients and customers
Appointment based consultations New way for people to think about a trip to the pharmacy Allows pharmacy to allocate staff Appointment scheduling can be entirely internet based Several patient care services can be offered on the same calendar Allow employees with a passion and knowledge base to take charge of the appointments

10 What does an appointment include?
Face time with a pharmacist (or designated employee) for a specific interest A specific amount of time allotted ( usually 30 minutes) A brief medical history and reason for the visit Handouts with results of conversation, goals, action items, possible return visit

11 How do you get started? Start with a realistic budget and timeline
Create a private space Ok to use immunization area if free for 30 minute appointment Talk about the space with your customers while getting ready Create intake form and other handouts Think about billing for this service– set a price, forms, run through pharmacy system?

12 OK, you have the space, what next?
Involve all employees with this new service Give each one a trial service and results Encourage employees talking with customers about this new service Make sure employees know how to schedule appts Generate promotional materials for ad campaign Use on-hold message Use social media Target all ages using different messages

13 Do you need additional products to go with your new patient care services?
Weight loss counseling Nutritional supplements Protein powder Protein bars Nutritional counseling Specific nutrient supplement recommendation General supplements Travel appointments Insect repellent Diarrhea remedies Travel sizes and accessories

14 Analyzing results Increased revenue from pharmacy services
Increased revenue from additional product sales Increased awareness of possible new services Increased interest in your pharmacy by old and new customers

15 Beverly Schaefer,RPh Health Advisor beverlypharmacy@gmail
Beverly Schaefer,RPh Health Advisor

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