Fast-paced technological advancements have placed a greater responsibility on business sectors to adopt smart solutions while following an integrated management approach. This means that pharmacy management systems must also evolve to reflect the change in market expectations.
Pharmacy software allows pharmacy owners to manage their systems seamlessly, stay on top of their stock position, manage accounts, and predict the right medications based on background data analysis.
What Features Must a Pharmacy Management System Have?
A pharmacy management system must include these features to allow users to get maximum benefits.
- Inventory management,
- Integrated workflow,
- Actionable dashboard,
- Billing and reporting.
- Expiry management.
- SMS and alerts
Let’s look at the above features in greater detail and assess how they can enhance a pharmacy’s management system.
One of the key areas that a pharmacy must manage efficiently is its inventory. A management system should be programmed to keep track of the drug supply to aid pharmacy owners to make accurate, data-driven inventory decisions.
A pharma company can maintain a record of stock levels and manage supplies through inventory management. This system can be linked to warehouses where users can add, update, and delete products in bulk. An efficient and integrated inventory system will ensure that the company doesn’t stock up on excessive quantities of drugs which can later result in sunk costs (expired products).
Pharmacies are forced to manage several manual tasks simultaneously, including coordinating orders, dispensing medications, managing stock levels, and verifying the quality of the drugs. When such tasks are dealt with manually, the chances for manual error are very high.
Therefore, a pharmacy management system should be able to manage workflow automatically to reduce the chances of fatal errors. The system should be able to identify patients’ medical history, link it to their treatment, and predict the right medicines for them.
Moreover, it should automatically check stock levels and verify the availability and eligibility of the drugs.
We know exactly how difficult it can be to decipher prescriptions. Prescribing errors are quite common and can lead to serious patient complications. Modern technology has countered this problem with electronic prescriptions or ePrescriptions, allowing physicians to send electronic copies directly to the pharmacy.
Therefore, this is a feature that pharmacy management systems must possess to reduce the burden of manual prescriptions and increase patient safety. The system should ensure that the pharmacy is notified when an ePrescription is issued by the physician.
The pharmacy would then check with the patient’s insurance provider whether their prescribed medication is covered or not. This is another example of an automated and integrated workflow where one action triggers several related activities.
Moreover, digital prescriptions are an effective way of increasing patient treatment accuracy.
As with any business management system, pharmacy systems keep getting more and more complex with advancing technology and developers’ ambitions. This raises the need for an actionable dashboard that can help pharmacies keep track of production and wastage of medications.
Moreover, the Covid-19 pandemic has highlighted the importance of remote pharmacy management tools that provide actionable insights to pharmaceutical staff despite their physical location.
A pharmacy management system should have a dashboard that displays focused reports and charts for their key objectives to facilitate data analysis and collaboration.
Billing and reporting
Accounting is an integral part of any business. In pharmacy management, the system is responsible for receiving orders, collecting payments, and generating receipts that are later used in financial reporting.
An important aspect of billing is accurate retrieval of product codes to request the correct price of the drug. The CMS (Center for Medicare and Medicaid Services) has reported that improper payments caused by coding errors amounted to $16.27 billion in 2020.
A pharmacy management system should include electronic signatures, patient data management, loyalty program management, and financial reporting.
In addition, access to patient data that is connected to their billing history will allow pharmacies the opportunity to compile real-time financial reports. Moreover, patient data can provide meaningful insights and highlight areas that need improvement.
One of the significant problems that pharmacies face is the huge losses due to expired products. Usually, medicines are purchased in bulk quantities with different MRP and expiry dates. It is highly challenging for pharmacists to keep an accurate track of each medicine and its expiration date.
Many drugs expire while laying on the shelves, only to be thrown into the garbage after discovery. For this reason, a pharmacy system must have robust medicine expiry management that alerts the pharmacist when medicine has neared its expiry date.
This will allow the pharmacist some time to either sell it to the customer or return it to the supplier, ultimately saving the company from product wastage and loss.
SMS and Alerts
Businesses have used SMS to promote their products and services for many years. The pharmacy industry can use this technology for the benefit of its patients as well. A pharmacy management system should be capable of issuing SMS and alerts to patients, informing them when to buy their next dosage.
An integrated system will allow patients to reply to the message and express their preference for the delivery of medicines. Moreover, the system can also alert the pharmacist if a patient would require their medications soon, based on patient history.
This feature can help the pharmacist perform his tasks efficiently and also improve customer relationships.
Healthcare services require the highest level of concentration and dedication. There is little room for errors and mistakes when human lives are at stake. An advanced pharmacy management system can help pharmacies overcome their day-to-challenges and focus on improving customer experience.
Owlab is a custom software development company with offices in Ukraine and Estonia. We help businesses automate operations and optimize efficiency. Our company offers app development services in such domains as fintech, blockchain, retail, healthcare, travel and hospitality, and entertainment.
If you want to build a custom pharmacy management system for your business, Owlab can create an optimal solution according to your project requirements. So, don’t hesitate to contact us.