3 Ways to Encourage End-of-Year FSA Spending at Your Pharmacy

The end of the year is not only the beginning of Open Enrollment for many, but it’s also crunch time for those with Flexible Spending Accounts (FSA). FSA accounts are a great way for people to set aside money tax-free, to use on eligible wellness items. However, they must be used before the end of the year. This leaves many people scrambling to find ways to spend their remaining balance. Here are 3 ways to encourage end-of-year FSA spending at your pharmacy:

1. Remind Your Patients

You can alert your customers about the December 31st expiration date in a variety of ways, including:

     • Posting signs around your pharmacy (including at the entrance, pharmacy counter, drive-thru window, and checkout areas).

     • Adding a reminder to your phone system auto-attendant greeting.

     • Sending email or text alerts.

In fact, BestRx makes it easy to send mass communications electronically to all your customers. Using our Messaging Interface, you can create custom messages that can be sent manually or scheduled to go out automatically. In addition to the reminder, you can include promotional offers and highlight eligible products available at your store. These messages are also stored in your software as templates for you to edit and use again, whenever they are needed.

2. Creating Promotions for FSA-Eligible Items

Another way to encourage FSA spending at your pharmacy is to create sales promotions for eligible items. This way you’re:

     • Helping customers find ways to utilize their funds.

     • Incentivizing them to make their FSA purchases at your store.

     • Boosting your pharmacy sales.

If you utilize our point-of-sale software, BestPOS, you can take advantage of its built-in promotions feature. It enables pharmacies to quickly create a variety of sales promotions, including:

     • Setting a specific sale price.

     • Applying a discount amount or percentage off.

     • Establishing Buy, Get offers (including free items, or additional items at a reduced price).

You can also set a desired start and end date for each promotion and add individual items, an entire department or product category to a promotion. Read More >>