Boost Your Profits During Inflation with the New Remedial Health app

According to the National Bureau of Statistics (NBS), the inflation rate increased to 31.70% in February compared to the January 2024 inflation rate which was 29.90%.

As Nigeria battles inflation, it is important for businesses to go back to the drawing board to ensure that they stay in business.

As a pharmacy or patent medicine store owner, due to the inflation you will grapple with persistent increase in prices of medications, pharmaceuticals and overall healthcare services. This circumstance presents a challenge for you and your customers.

Factors contributing to inflation include rising import costs due to currency fluctuations, limited local manufacturing capacity leading to dependency on imports, and regulatory hurdles that increase operational expenses.

As a result, pharmacies, patent medicine stores and other healthcare businesses across Nigeria often face the burden of higher procurement costs. This results in expensive retail prices for medications, hindering access to essential healthcare for many individuals.

Effective management of inflation is necessary for your business. But how can you ensure operational sustainability and affordable medicines for your customers?

Introducing the Remedial Health app–the solution to ensuring you stay in business. Designed to help healthcare businesses like yours thrive, the Remedial Health App offers special features.

In this article, we discuss how your business can harness the Remedial Health app to boost profits and ensure affordable healthcare provision for your customers regardless of the harsh economy.

Understanding the Remedial Health app

The Remedial Health app isn’t just a part of our current customer app, but a robust tool to help our customers and their businesses. This app will help you make smart choices about your businesses.

In this harsh economy, many small businesses in Nigeria struggle to handle inventory and sales. Our app tackles this directly with features like procurement of pharmaceuticals and inventory management.

Features of Remedial Health app

• Visual Data: Deduce customers’ preferences through visual data, enabling you to effectively optimize sales.
• Multi-Store Access: Seamlessly switch between multiple stores within the app, providing convenience and flexibility.
• Low Stock Notifications: Receive push notifications when your stock levels are low, ensuring instant restocking and uninterrupted sales operations.
• Virtual Account Integration: Streamline payment processes by using the virtual account feature, eliminating the need for multiple POS devices and enhancing transaction efficiency.
• Barcode Scanning Ability: Simplify inventory management and sales transactions with built-in barcode scanning functionality, allowing for easy product addition and sales directly from the app using your device’s camera.
• Extensive Product Range: Browse and purchase from a wide range of pharmaceuticals remotely, with nationwide delivery guaranteed within 3 days, offering convenience and accessibility to customers across Nigeria.

To get started, all you need to do is download the app from Google play or App store, depending on your mobile device.

How Remedial Health app helps boost profit even in inflation

Regardless of inflation, the features of the Remedial Health app can help boost profit in your business pharmacy by addressing the challenges posed by rising costs and maintaining competitiveness:

• Visual Data: During inflation, it is important to understand your customers’ preferences to minimize unnecessary expenditure and maximize sales and profit margins. The Visual data analytics provided by Remedial Health app can help you identify these ttrends and adjust your product offerings accordingly. By focusing on high-demand items and optimizing pricing strategies based on customer preferences, you can increase sales and profit despite the inflation.
• Multi-Store Access: Inflation affects purchasing power and consumer behaviour, which can be a hurdle so you can imagine if you have different stores in different locations — managing one store is challenging itself but the Remedial Health app’s multi-store access feature can help you manage your businesses at one sitting which will help offset any decline in sales from individual locations and maintain overall revenue levels. These multiple store options will offer convenience, enhancing customer loyalty which will encourage repeat business and boost profit margins.
• Low Stock Notifications: Inflation can lead to increased costs for inventory procurement, making efficient inventory management essential for making profit. The app’s low stock notifications feature will help your business prevent stockouts and minimize excess inventory, reducing carrying costs and maximizing revenue potential. By ensuring optimal inventory levels, you can improve cash flow and reduce the impact of inflation on inventory expenses.
• Virtual Account Integration: Streamlining payment processes through virtual account integration will help your business reduce transaction costs and improve cash flow management. By eliminating the need for multiple POS devices and simplifying payment workflows, your business can enjoy lower operational expenses and increase profit margins. This becomes especially valuable when every cost-saving measure counts in an inflation.
• Barcode Scanning Ability: The app’s barcoding scanning feature will help your business simplify inventory management and sales transactions. Your business will also no longer suffer manual errors and operational inefficiencies, thereby boosting profit.
• Extensive Product Range: Due to the inflation, it is important to provide value and convenience to customers for maintaining sales and profit. Remedial Health app helps your business achieve this by offering a wide range of pharmaceuticals which ensures your business can cater to diverse customer needs and preferences.

These features of the Remedial Health app help businesses in adapting to the challenges of inflation by boosting operations, reducing costs, and enhancing customer satisfaction, ultimately contributing to increased profit.

Final Thoughts

Every business aims to thrive while providing quality services to customers. However, inflation is an occurrence that erodes the purchasing power of both your businesses and consumers, leading to higher expenses and reduced profit margins. By implementing effective strategies, your business can optimize operations, maintain competitiveness, and safeguard financial health in the long term.

Our app offers a comprehensive solution for your business to weather the difficult terrain caused by inflation. Through features like visual data analytics, multi-store access, low stock notifications, virtual account integration, barcode scanning ability, and an extensive product range, the Remedial Health app will help your business improve operations, increase sales, reduce costs, and enhance customer satisfaction.

Whether it’s optimizing inventory management, streamlining payment processes, or expanding customer reach, the Remedial Health app offers practical solutions to help businesses stay competitive and profitable. Don’t let inflation hold your business back — try the Remedial Health app today and unlock your full potential for success.