Continuing Care Retirement Communities (CCRCs) are residential communities that offer a continuum of care to older adults, from independent living to assisted living and skilled nursing care. CCRCs are becoming increasingly popular as a retirement option, providing residents with a comfortable and secure living environment, as well as a range of healthcare services. For pharmacies, opening a location in a CCRC can have numerous advantages.
Captive Market
One of the main advantages of opening a pharmacy in a CCRC is access to a captive market. Residents of CCRCs typically require medications to manage their health and well-being, and having a pharmacy on site can provide them with convenient access to their prescriptions. This captive market can also provide a steady source of revenue for the pharmacy.
Increased Referrals
CCRCs typically have healthcare professionals on staff who work with residents to manage their health and wellness. These healthcare professionals may refer residents to the on-site pharmacy for their medication needs, providing the pharmacy with a consistent source of referrals. Additionally, the pharmacy may also receive referrals from the community’s external network of healthcare providers.
Convenient Services
CCRC residents may have difficulty accessing off-site pharmacies due to mobility or transportation issues. By having an on-site pharmacy, residents can receive the medications they need without leaving the community. This convenience can be particularly valuable for residents who require regular medication management.
Community Integration
Opening a pharmacy in a CCRC can provide opportunities for community integration. Pharmacies can host health and wellness events and offer medication education sessions for residents. These activities can help build relationships between the pharmacy and the community, as well as provide value-added services to residents.
Diversification of Services
For pharmacies looking to diversify their services, opening a location in a CCRC can be a smart business move. In addition to dispensing medications, pharmacies can offer additional services, such as medication management, medical equipment and supplies, and medication counseling. These services can help differentiate the pharmacy from competitors and provide additional revenue streams.
In conclusion, opening a pharmacy in a CCRC can provide numerous advantages to the pharmacy, including access to a captive market, increased referrals, convenient services, community integration, and diversification of services. For CCRCs, having an on-site pharmacy can provide residents with access to essential medication services and promote their health and wellness. Overall, opening a pharmacy in a CCRC can be a smart business decision and a valuable asset to the community.
