Managing a pharmacy is tough. You need to serve patients, review and interpret physicians’ orders, dispense drugs, monitor patients’ drug regimens, complete insurance forms, and bill insurance companies — not to mention the financial, sales, staffing, and marketing duties. These are things you and your staff deal with every day, and if you do all this by hand, management gets even more challenging and time-consuming.
Managing your pharmacy manually slows down your processes:
- Inventory doesn’t get updated in real time, you lack historical data, and you can’t generate reports. Plus, your inventory is difficult to analyze.
- Prescription preparation takes 40% of pharmacists’ working hours.
- Claims are often denied because of incorrect or missing information or billing errors.
- Documenting patient and payment records takes a big bite out of pharmacists’ schedules.
It’s 2020, and today all these challenges can be met by pharmacy management software. Let’s find out what such a system looks like and what it takes to develop one. You’ll also find out whether you require custom pharmacy management software development and when it’s better to go with a ready-made solution.
What is a pharmacy management system?
Before going any further, it’s important to understand what a pharmacy management system is and how it can help your pharmacy operate efficiently.
Wikipedia defines a pharmacy management system as “a system that stores data and enables functionality that organizes and maintains the medication use process within pharmacies.”
Pharmacy management software is a unified system that manages retail products and medications and automates operations such as stock control, drug dispensing, claims management, billing, and reporting. Such software provides pharmacies with a big picture of the business’s performance and a real-time overview of costs, revenue, and sales (at every location, if it’s a chain).
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