I was surprised that there were so many positive benefits for the pharmacy, yet many don't seem to be making the effort to deliver a totally satisfying flavoring experience.
Columbia, Maryland (PRWEB) August 24, 2012
According to research completed by WilsonRx and members of Temple University’s School of Pharmacy, pharmacy retailers need to get serious about promoting the availability of pediatric medication flavoring in their pharmacies. The groundbreaking new study, titled Custom Medication Flavoring: Valuable Opportunities to Improve Customer Satisfaction, Store Loyalty, Patient Compliance and Pharmacy Revenues by Albert I. Wertheimer and James M. Wilson, uncovered the strong opinions and attitudes parents have toward custom medication flavoring for their children’s medications and how pharmacy retailers are impacted by those attitudes. Most significantly, it was discovered that:
- Customer satisfaction and pharmacy loyalty amongst parents are significantly increased by custom-flavoring a medication for a child.
- Parents are more likely to recommend a pharmacy that actively engages them about the custom-flavoring service over one that does not.
- Parents would much rather fill prescriptions at pharmacies where custom-flavoring for their child’s medications is available and promoted to them.
"The research and analysis was surprising in that we found that while a fairly high percentage of pharmacy customers were aware that their pharmacy offered prescription flavoring, many were not getting the full value or benefits of the service, either because they didn't understand how it would help their kids take the medicine or they were simply not asked about it", said Jim Wilson, R.Ph., MBA. "I was surprised that there were so many positive benefits for the pharmacy, yet many don't seem to be making the effort to deliver a totally satisfying flavoring experience. Clearly, the research shows that pharmacy retailers and chains can improve customer satisfaction with a very select family audience."
Because parents made it very clear they would choose a pharmacy that promotes a medication flavoring service over one that does not, it was concluded that a pharmacy retailer could reasonably expect to gain a certain amount of new business each year by consistently offering the service in the pharmacy. Looked at another way, pharmacy retailers who choose not to actively engage their customers about custom-flavoring for liquid medications are at risk of losing those customers to a competitor who does. According to a representative from FLAVORx, just 3% of the prescriptions in the U.S. that could have a custom-flavor added to them actually do get flavored. When you consider that nearly 40% of parents surveyed by WilsonRx would get a medication flavored for their child, regardless of cost, and 97% said if the pharmacist actually recommended the service they would be highly likely to accept, there is a clear opportunity for a pharmacy retailer to win new customers (or at least keep their existing ones) by promoting this valuable service.
“To me, the most startling point is that only 3% of possible flavorable medications are flavored,” said Albert Wertheimer, Ph.D., MBA. “This is a huge market opportunity.”
Click here to download the complete report.
WilsonRx is an independent, privately owned leading healthcare consumer research company that provides unique insight into pharmacy, pharmacy benefit, insurance and treatment related issues. For information, contact info@WilsonRx.com or visit http://www.WilsonRx.com.
About FLAVORx Inc.
FLAVORx has been helping people take their medicine since 1997. The Columbia, MD based company’s mission is to improve lives and health-related outcomes through higher medication compliance and adherence. The FLAVORx Pediatric Flavoring System is available in over 35,000 pharmacy locations across the country, including CVS/pharmacy, Walgreens, Rite Aid, Target, Walmart and Publix pharmacies. A complete list of participating FLAVORx pharmacies is available via their pharmacy locator. Using FLAVORx's copyrighted flavoring recipes, pharmacists have safely flavored over 50 million prescription and over-the-counter medications for children, making it easier for them and their parents to deal with the stresses of being sick. To keep up with the latest company news, follow FLAVORx on Facebook. To contact FLAVORx, email email@example.com or call (800) 884-5771.