This year, the global healthcare analytics market has seen huge growth worldwide. We faced a lot of chaos caused by the COVID-19 epidemic. But what we got from it was the importance of software for the pharmacy business in the whole business management. We now understand the value of pharmacy software more in business and are continuously working to make it more intelligent. It is because we now find the need for a more agile system for collecting, recording, analyzing, and interpreting market data to make the system all-inclusive.
In this way, the increasing awareness about health conveyed to the people the importance of a digital platform. It is based on operational efficiency, government mandates, and financial incentives to adopt advanced technological solutions. These digital platforms shift routine healthcare systems toward value-based care. It activates pharmacy management and adds factors that support the growth of the global healthcare IT market.
As per Global Healthcare Analytics Market announced a healthy CAGR of 15.4% in the forecast period of 2019 to 2026.
What is pharmacy software and its importance?
Adopting the latest technologies certainly helps all types of businesses to achieve efficiency and high growth. The pharmaceutical industry is also one of them. They are bringing some great and positive changes to the pharmacy business. It eliminated manual data processing performed by pharmacists, which accelerated business, got efficient operations, and streamlined business processes. Thus, it has become the best option to manage data for pharmacy business functions.
Pharmacy software is a fine example of intelligent technology use. It is an automated system that automates all the business processes and daily activities of a pharmacy store. It is now equipped with a barcoding system and gives its proper scanning. Also, it has a billing system, data automation, inventory, customer/dealer information management, accounting, and e-prescription. Thus, it is capable of handling complex and extensive audits. These audits are based on various customers, suppliers, and manufacturers, simply and effectively.
Key findings features of pharmacy store software-
- The pharmacy software gives real-time data visibility.
- It keeps tracking drug inventory, managing the complete workflow, and creating a large number of reports.
- It minimizes the time per prescription entry, order processing, and management.
- It manages stocks based on the manufacturing date or expiry date.
- It has an alert system about the despatch of the drugs, inventory that is running low, and about the new orders and requirements.
- It can integrate with several tools, which are used by various pharmacy business.
- It has better customer management that establishes healthy relationship with customers.
- It improves the inefficiency of Supply Chain Management.
Some benefits of pharmacy software that make it intelligent as per the growing trend
Automated Dispensing
Pharmacy software comes with modern solutions that include automated delivery technology. It not only decreases the burden of the pharmacist but it also ensures that there is no error of any kind. The pharmacist, thus, gets a quick solution that facilitates him to understand medicines. This way, it allows pharmacists to serve a greater number of patients and increase their level of satisfaction.
Real-time Data Capturing
The advanced pharmacy understands the value of user data and their changing business needs. For this, it provides an intelligent feature that tracks health-related issues. It allows pharmacists to provide enhanced accessibility through real-time data capturing. This way, it makes better use of data for operational and strategic decisions. It assesses new market opportunities, and do significant potential changes to the business.
Predictive Analysis Solutions
The predictive analysis technology makes pharmacy software more agile. It increases the efficiency of the pharmaceutical industry and eliminates the errors that occur due to the large volume of complex data. This way, it helps the business in predicting drug behavior, improving the success rate, and serves customers in a much more efficient way.
E-prescribing Integration
E-prescription is an important feature that any healthcare provider primarily looks for and tries to improve. Intelligent pharmacy software enhances patient care experiences by facilitating e-prescription. The software makes e-prescription systems more efficient and helps pharmacists handle them electronically and provide successful delivery.
This way, the e-prescribing software feature simplifies the entire process flow of the pharmacy’s system and increases patient satisfaction with error-free delivery and billing.
Pharmacy Data Management
Pharmacy software comes with pharmacy data management solutions. The software provides a real-time data view that helps pharmacists control operating costs and improve overall business management. A robust pharmacy management system comes with an analytics facility. It offers seamless access to patient data and related information. In this way, the software easily manages patients’ records, including doctor’s notes, supporting documents, scans, and X-rays, all in one place.
Inventory Management
Pharmacy management software is meant to reduce the complexity of the pharma business. The software has a robust system for handling pharmacy inventory. It monitors orders, supplies, and the use of stored medicine. Also, it facilitates accurate verification and billing systems for pharmacists. Thus, its inventory management software feature is essential for pharmacy organizations. This way, it ensures that they do not face stockouts and that they retain all necessary stocks at all times.
Customer Relationship
The purpose of pharmacy software is to provide high services to the customers and also to attract them. It offers customers the highest quality pharmacy feature and saves time with the convenience of easy checkout. The software application comes with advanced features like cashback and payment options. This way, it empowers the entire system. And, it offers user-friendly pharmacy management solutions to increase efficiency and manage workflow.
Up-to-date Drug Information
Pharmacy software solutions automatically update all new drugs on the market. It gives information about the effectiveness, price, and manufacturer of freshly introduced drugs in the market. Thus, it keeps a pharmacist updated with the trend.
Pharmacy Point of Sale System
Pharmacy POS is integrated with various accounting software programs. It comes with powerful pharmacy billing software that streamlines the processes involved. Also, it provides an analytical dashboard and reports related to various aspects of your retail business. This way, it offers better business insight and decision making.
Reporting
Pharmacy software solution comes with reporting feature. Through the reporting feature, pharmacists find it easy to see their business and get a clean report on revenue generated every month with a single click. Also, software users can generate customized reports on the sale of each unit of drugs, the drugs dealt, and the losses incurred.
Why should you invest in a pharmacy software solution?
✔ Turns inefficient supply chain management into efficient supply chain management
✔ Establishes better customer service and healthy relationships
✔ Ensures smooth and flexible workflow
Wrapping Up
With the continuous growth in the pharmacy business, the need for software management solutions for pharmacy or billing software for pharmacy has been in high demand. The changing landscape of healthcare poses multiple regulatory and financial challenges to the healthcare business ecosystem. To stay in the market for the long run, it is advisable to move on to robust and smart pharmacy management software or update the existing software with more intelligent features.
SwilERP has been a pioneer in providing cost-effective pharmacy management solution. It can support your business goals well and manage all your workflow easily and effectively. For more information or free software demo or free 45 days software trial, feel free to contact us on swindia.com.
