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1. What is pharmacy software?
Pharmacy software allows retail, as well as long-term care pharmacies, to streamline their daily operations and workflows to scale evolving business requirements. It offers features such as prescription management, POS, automatic refills, inventory management, barcode scanning, and e-prescribing.
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2. The benefits of pharmacy software
Pharmacy software is essential for pharmacists to remain competitive and extend the optimum level of patient care and service. It supports pharmacists in:
- Inventory management: The ability to track sales and update them in the software helps users record billing details and total sales made. In addition, it provides visibility into stock levels, alerting and notifying pharmacists when the stock of any drug runs low.
- Customized and streamlined workflows: Pharmacy software allows pharmacists to customize workflows to suit their specific needs and choose what data they want to capture. Customized workflows make carrying out tasks such as assigning jobs, verifying prescriptions, and managing multiple pharmacies from a single workstation more intuitive and streamlined.
3. Typical features of pharmacy software
- Prescription management: Manage and process multiple drug prescriptions quickly and simultaneously.
- Inventory management: Track and manage stock levels of resources in the store to maintain proper supply.
- Barcode/label scanning: Scan barcodes/labels to ensure accurate pricing and product tracking; record product details.
- Automatic refills: Track prescription refill schedules and manage refill orders for effective health care services.
- E-prescribing: Accept and fill prescriptions that are submitted electronically.
- Electronic signature: Electronically sign documents and request electronic signatures.
4. The cost of pharmacy software
While most vendors do not list product prices on their websites, many provide a per-user, per-month pricing structure. Solution costs can be categorized into three tiers based on their starting price.
Price ranges*:
- $29-$64
- $64-$168
- $168+
*The pricing included is for the entry-level/lowest-priced offerings found on vendor websites on March 8, 2019. These ranges correspond to 25th, 75th and 100th percentile of the pricing information gathered from the vendor websites of sample products.
The above list summarizes pricing for the base plans of most products. Enterprise products, which are priced higher may include additional features such as multi-store management and voice recognition.
5. Considerations when purchasing pharmacy software
There are many pharmacy software solutions available on the market, and choosing the right one for your business is critical. There are multiple factors that need to be kept in mind while selecting a pharmacy software tool:
- Ability to integrate: Pharmacy software helps in streamlining operations; however, that's not possible if the software is unable to interact with your other systems. Billing and invoicing and electronic medical records (EMR) software are a couple of commonly used systems in pharmacies; look for pharmacy software that integrates with these and other systems employed in your pharmacy.
- Availability of technical support: Choosing and purchasing software and then not being able to use it properly is frustrating. The need for vendor support exists from installing the software to operating and troubleshooting it; so, look for software that is backed by a professional support team. In addition, explore the availability of training support.
6. Relevant pharmacy software trends
- Pharmacy automation is reaching new heights: While increasing applications for automation, robots are performing jobs such as scanning prescriptions and managing inventories. The end results include speedier order fulfillment, more accuracy in measuring medication, and greater security and confidentiality.
- Digital services are revolutionizing medication adherence: With the rising competition in the pharmaceutical industry, pharmacies need to adopt newer strategies to gain a competitive edge. Digital services in the form of mobile apps and eCommerce channels allow the offering of virtual health care, which makes procuring medications and alerting patients about medication schedules easier, while also increasing medication adherence.
Sources
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Products evaluated for the pricing calculation were taken from the Capterra's pharmacy software category page. The pricing ranges exclude freemium versions of products. The features highlighted were identified based on their relevance and the percentage of products in the Capterra directory that offer them.
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The following sources were used for this document:
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- The Growing Trend of Pharmacy Automation, Forbes (Date accessed: February 26, 2019)