You might have used the same pharmacy software system for a month, a year, or even a decade before you realized it wasn’t cutting it anymore.
When you first started out, you might have thought your software could work for you. It probably had basic features, decent functionalities, and a support team that could help you get by; so you were willing to take the plunge.
As you started working with the software more and more, though, you started to see its shortcomings. Maybe it was difficult to use, slow to update, or hard to get help with. At first, these were minor inconveniences, but as one problem led to another, you realized that your software was more of a hassle than a help.
And maybe, as your pharmacy grew, you realized you had outgrown your system.
If this situation sounds at all familiar, you should consider switching to a new software system.
Your pharmacy software system is the most important tool in your pharmacy, so for the sake of your team, your patients, and yourself, you should invest in a system that works with you instead of against you. In today’s competitive market, there are dozens of systems to choose from, one of which will check off all of your boxes.
The question remains, though: how do you find the right one?
Trust Your Fellow Pharmacists
If you’ve already started your search for a new software system, you’ve probably gathered opinions from many different sources, both in-person and online.
The best input, though, comes from other pharmacy professionals who have experience with the software you are interested in. To get the most comprehensive input without the added stress of seeking it out, look to one source: Direct Opinions.
Direct Opinions is an independent market research firm that surveys real customers on the products they use every day 一 including software systems 一 and then turns those answers into data.
Direct Opinions conducts annual over-the-phone, double-blind surveys with independent pharmacists to get their opinions on the software they use. Then, they quantify pharmacists’ responses and separate them into four main categories. Each category provides insight into a certain part of the customer experience and collectively helps pharmacists decide which vendor to pick.
The four categories are as follows:
- Market Share + Customer Satisfaction
- Conversion Rates
- New Store Installations
- Competitive Gain
Just a few weeks ago, Direct Opinions released the results of their 2021 survey. In this 4-part series, we will take an in-depth look at each of the above categories and what they mean for your software search.
Today, we will be focusing on just one category: conversion rates.
If you’ve thought about ditching your old and outdated system 一 the one that’s hurting you more than it’s helping you 一 these results will help you decide to make the switch.
Conversion Rates: The Results Are In...
Conversion rates are just one of many metrics that determine customer satisfaction.
In this case, they show how happy pharmacists are with their current software systems, and they can help you predict whether or not you will be happy with yours.
During the 2021 Direct Opinions survey, pharmacists were asked whether or not they had converted to a new software system in the last two years, and if they had, which vendor they had converted to. Their answers were recorded, then expressed as conversion rates. The higher the conversion rate, the better a vendor was considered to be.
The results of the survey can be seen here:
As the graph shows, PioneerRx has had the highest conversion rate over the last two years. Approximately 41% of pharmacies that have converted to a new system have chosen PioneerRx as their preferred vendor.
After PioneerRx, Liberty has the second-highest number of conversions: with 28% of pharmacies making the switch.
Following Liberty, Micro Merchant Systems took 7% of pharmacy conversions, which was followed by Rx30 and Computer Rx, who tied at 5%. The final 14% of pharmacies were split among vendors with < 5% of overall conversions.
In addition to conversion rates, the graph above expresses each vendor’s customer satisfaction, ranked from excellent (green) to average (yellow) to poor (red).
The best vendors not only have high conversion rates, but they keep those who converted to them satisfied.
PioneerRx is the only software vendor to rank as “excellent” in 2021, putting it in the top spot. Liberty and Micro Merchant Systems ranked as “average,” placing them next in line; and Rx30 and ComputerRx closed out the rankings with “poor” customer satisfaction levels.
To learn more about the ins and outs of customer satisfaction, including which vendors came out on top overall, read our blog.
Changes from 2020 to 2021
Since Direct Opinions put out its last survey, conversion rates have changed across the board. Some vendors have maintained their positions and others have switched places. Generally speaking, though, changes in the rankings can indicate whether or not a vendor is improving.
When you search for a vendor, you should look for one that makes improvement a priority.
In an effort to see these changes, we can look to the 2020 Direct Opinions survey results. Conversion rates are shown in the following graph:
In 2020, PioneerRx ranked as the most-converted-to software. In 2021, it keeps its position, which is a positive indicator of performance.
Rx30 took second place in 2020 一 but in 2021, its conversation decreased enough to put it in spot #4 in 2021.
Micro Merchant Systems held a third-place spot in 2020, which it maintains this year. Rxite (also known as Liberty) was in spot #4 in 2020, but it now sits at #2 in 2021, increasing its place in the rankings. And, while it was in fifth place in 2020, QS/1 now sits unranked in 2021.
Conclusion
Conversion rates are just one of many factors to consider when shopping for a new pharmacy software system.
With so many systems on the market, it’s important to consider which ones pharmacists are choosing, trusting, and recommending to others. With insights from Direct Opinions, you can have a better understanding of what fellow pharmacists are looking for, and what you should be looking for, too.
In the process, you can leave your old, unreliable system behind and find one that works for you.
In addition to conversion rates, you should pay careful attention to the other three categories from the Direct Opinions survey so that you can better weigh your options.
After all, when you make the right pick, you’ll be happy you made the switch.
