7 Types of Software a Pharmacy Needs to Stay Competitive In 2021

Modern software provides highly specialized, often industry-specific, solutions for business owners. There are seven types of software that should be considered necessities for today’s pharmacies. Each one plays a specific role in ensuring that the whole operation runs smoothly and customers receive safe, appropriate care. New pharmacy owners and those looking to catch up to 21st-century industry standards can read on to find out about each of them.

1. Inventory Management Software

Every customer-facing needs an inventory management system, and pharmacy inventory management software offers the perfect solution for both hospital-based and independent pharmacies. It includes features such as barcode scanner integration, automated processes to facilitate counting, tracking, restocking, warehousing, and dispensing, and accurate, integrated RCM modules for managing vendor relations.

2. Point-of-Sale (POS) Software

POS software is essential for providing an optimal customer experience. It presents a much more efficient alternative to traditional cash registers. POS software should offer full integration with other essential systems and should be user-friendly to avoid creating confusion among patients who are unfamiliar with the new system.

3. Compounding Software

Every serious pharmacy can compound medications on-site. Compounding software that features Material Requirements Planning (MRP) modules is machine-specific, but each type of software has features that make it easy to manage chemical inventory, calculate costs, compare brand-name and generic drugs, and create both consistent labels and unique barcodes.

4. Data Management Software

Data management software uses Business Intelligence (BI) engines to collect and analyze data on revenue, customer satisfaction, treatment outcomes, patient retention rates, spending trends, and more. Pharmacies can use it to generate scheduled and on-demand reports, which can be very helpful for business analysis.

5. Document Management Software

Document management software is designed to facilitate easy access to all the pharmacy’s patient records. It must be HIPAA-compliant to ensure patient privacy and should feature scanning technology that allows employees to capture and automatically organize physical documents in digital formats. Document management software allows pharmacies to accept electronic faxes, maintain audit trails, and keep notes from both pharmacists and prescribing physicians, all in one place.

6. E-Prescribing Software

These days, every pharmacy needs to be able to accept electronically transmitted prescriptions. Prescribing doctors expect to be able to send prescriptions, including those for controlled substances, directly to the pharmacy without having to rely on patients to bring paper copies. Insurance verifiers also require access to e-prescriptions to determine coverage. Patients rely on their pharmacists to renew, modify, or cancel medical prescriptions for them as necessary. All that is only possible if pharmacies use a software program that has e-prescribing integration.

7. Automation Software

Pharmacy automation software is designed to improve medication accuracy and streamline workflows. It can be used with robotic dispensing systems to automate filling, formula compounding, and other essential operations. The automation software can also be integrated into printers and labelers, and the most popular options come with web-based Interactive Voice Response (IVR) auto-fill systems. The right automation software can also make data tracking easier, prevent human errors, and help to ensure the security of robotic storage cabinets and prescription dispensers.

The Bottom Line

The right types of pharmacy software will improve every aspect of the business’s operation. Some focus on improving customer experience, while others ensure that medications get compounded properly or renewed on time. The best solution for pharmacies looking to get up-to-speed with the 21st century is to purchase comprehensive, fully integrated software solutions.