Outpatient Pharmacy Site Feasibility Study
The PRS Outpatient Pharmacy Site Feasibility Study can assist you in making your final decision of whether or not to move forward with a Pharmacy.
We’ll gather information on the proposed location and combine it with demographic and market potential data retrieved from a variety of industry and government sources. This data, as well as the information you provide and other factors reviewed for the location are scored and weighted based on relative importance to the success of a Pharmacy. It is then analyzed by the PRS Pharmacy Operations Department to arrive at a success potential designation for Pharmacy at that site.
This PRS report offers an analysis of the factors contributing to the potential success of your proposed Pharmacy. The Evaluation will identify items such as whether or not the pharmacy has sufficient space to maximize patient contact and provide for OTC/DME sales as well as accommodate the appropriate number of Pharmacy personnel for the projected script volume of the Pharmacy.
We will provide an evaluation of the type of competition in the trade area.
The Evaluation also offers the opportunity for PRS to provide recommendations to utilize your strengths to maximize effectiveness against the competition. The analysis of discharge, 340B, emergency department, employee and medical center script volumes, demographics, population density, housing, and expenditures will determine if this outpatient pharmacy location can support a viable and profitable Pharmacy business.
To serve as a guide for marketing to your trade area, the report also contains:
- Population by Race
- Household Income
- Household Type and Education Level
- Labor and Employment Profile
- Assessment of potential ancillary Pharmacy offerings
- Capture rate of current script volumes generated
A Good Faith Estimate of the cost of the proposed project is included in the report and considers the following items:
- Security System
- Pharmacy Equipment
- Pharmacy Computer (Hardware & Software)
- Construction, Fixtures and Installation
- Initial Inventory
The Evaluation features a Financial Projection Analysis.
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This can then be used as an estimate of expected costs and revenue and script volume captured using historical data of similar Pharmacy Operations. This information is provide in a two-year pro forma income statement. The Evaluation will not address the Real Estate and excess construction costs that may apply due to the unique circumstances surrounding this particular Pharmacy.