Who doesn’t accept the fact that the healthcare sector has gained the most from the technology. If we see back in time, the healthcare sector has been making the most of the advancements since time immemorial.

Gone are the days of waiting in long queues to get your medicines where the pharmacist would take the world’s time only to tell you that medicines are out of stock. Well, with pharmacy compounding software it has become quite easier for the pharmacists to help their customers and save time.

Now as we talk about the Healthcare Industry IT Solution, well we can just go on and on about it, as it is so huge. In fact, it would be right to put it this way:

The healthcare ecosystem is an intricate network of interconnected communities that must function together in order to blossom. Within these communities, there are actors who perform their parts in order to keep the ecosystem sustainable. Each community has layers of crucial data that should be shared with the ecosystem as a whole.

To be honest, can’t agree more! The healthcare industry as a whole holds such a massive amount of data, which needs to be maintained in an efficient and secure manner. However, today we will be discussing the one actor of the Pharmacy community, which is Pharmacy Management Software.

As the name sounds, it is really a robust system, which plays an important role in the arena of pharmacy software. There is no shortage of Pharmacy Management Software Development companies out there and many of them have come up with great products with the help of their support team of Pharmacy Software Developers & Technicians. Now in the case of compounding pharmacy software, well, it has its types. Yes, there is this whole list of software and it is vital to have the knowledge and understand all of them, so to decide what you require for your Pharmacy Company.

What are the types of Software required for Robust Pharmacy Management?

The operations of healthcare sector can never be defined under limited sections. It has a vast scope and each sector needs to be automated to increase efficiency and productivity. Also, over the years we have seen the introduction of various hospital management information software systems for the right functioning of hospitals.

Pharmacy Software System

It is a customized pharmacy management software solution that proves to be crucial in the management of dispensing workflow, approved medication list, master patient index, inventory (& wholesaler relationship), decision-support management, compliance management, pharmacy analytics (comprising detailed-reporting functions), and formulary database (RxNorm, Medi-Span, Lexicomp, First DataBanl, and National Drug Code).

Also Read: Doctor on Demand Mobile App Development Cost and Key Features

Pharmacy Data Management Solutions

It consists of data management dashboards with robust Business Intelligence (BI) engines to analyze revenue drivers and qualitative measurements, comprising of treatment outcomes, patient persistence rates, spending trends, insurer response time, and drug waste rates. The customized software generates regular and on-demand reports, which illustrate pharmacy KPIs with engaging graphics and enable comprehensive business analysis with what-if measurement tools.

The recency of Software Replacement at Independent Pharmacies


Pharmacy Compounding Software

This compounding management platform with Material Requirements Planning (MRP) modules is to optimally produce medicine for specialty pharmacy stores. It is built with features to manage the chemical inventory database (comprising of chemical components, wholesale prices, and log numbers), calculate formula costing, compare generic & brand-name drugs, and also create consistent labels with unique barcodes.

Pharmacy POS Software Integration

This customized Point of Sale platform is powered with electronic signature capture capability, inventory management APIs, and access to Flexible Spending Account (FSA) & Health Savings/Reimbursement Account (HAS/HRA) networks. This system is integrated with Customer Relationship Management (CRM), EMR/EHR, as well as external Practice Management System (PMS) modules to coordinate prescription histories.

Read More: How to Develop a Telemedicine app on the concept of Doctor on Demand?

Pharmacy Inventory Management System

This system is crucial for the utilization of management solutions, barcode scanner integration, and National Drug Code (NDC) manifests thus automating inventory processes, comprising of restocking, counting, tracking, warehousing & dispensing of medication. It is integrated with accounting & RCM modules to help in dealing with wholesalers, with features to manage payments, automate orders, handle missing/under stocked deliveries, and manage relationships.

Pharmacy Benefits Management Services

Custom Pharmacy Benefits Management (PBM) platform is integrated with third-party administrator PBM implementation & e-Prescribing system for preferred pharmacy networks and mail service pharmacies. Pharmacy Software Development Companies program rules engines to build cost-effective formularies, design drug benefits plans & track network-wide clinical results.

Pharmacy Document Management Solutions

The Pharmacy Document Management modules are engineered to access patients. Electronic Health & Medical Records (EHR/EMR) maintain notes from pharmacists and physicians, accept faxes electronically, maintain audit trails & Electronic Batch Records (EBR), and integrate with scanning technology for capturing and automatically organizing information from physical forms.

Read More: Healthcare Software Development – A Detailed Guide

e-Prescribing Software Integration

In this solution, Pharmacy Software Developers engineer e-RX network architectures for the secure transmission of Electronic Prescriptions for Controlled Substances (EPCS) between a point of care, pharmacy stores, and third-party insurance verifiers (Allscripts, NueMD, Surescripts). E-Prescribing systems are developed that accelerate the filling, modification, renewal & cancellation of medical scripts, and also procurement of prior authorization.

Pharmacy Revenue Cycle Management

Custom Revenue Cycle Management Software streamlines prior authorization, remittance advice, appeal management, claims processing, insurance eligibility verification, benefits coordination, and Risk Evaluation and Mitigation Strategies (REMS). Account Receivable platforms are also developed to manage insurer reimbursements, automate invoices, and process payments.

Pharmacy Automation System

In this system of Pharmacy Management Software, pharmacy workflows are accelerated and it improves accuracy by programming a robotic dispensing system for automation of prescription fills, formula compounding, & other pharmacy operations. The software is integrated with a web-based & Interactive Voice Response (IVR) auto fill system, inventory management system, and printer/ labeler embedded software. With encryption and access control best practices, prescription dispensers & storage cabinets are secured. So, here we talked about the types of software that play a crucial role in the development of robust and scalable Pharmacy Management Software. Furthermore, let’s explore a number of benefits offered by PMS.

When talking about Pharmacies compounding software development it needs to be functioned in a way that it has all the details of the store and need not manage the inventory.

Over the years we have seen the growth of healthcare sector in the digital industry.

Some of the features that your Pharmacy management software must have should make it easy for the practitioners and pharmacists to manage the records.

What are the qualities of good Pharmacy Management Software?

Working on applications that are to be used at such a large scale that too over a sensitive topic becomes quite difficult for the development companies. Our experts believe that it is the features that we include in the app that define its success or failure at the global level.

Now there are a number of qualities that make the Pharmacy Management Software highly-efficient and as a Pharmacy, you must go on to select a Pharmacy Software Development Company to get the system developed, ensure that it is offering you these features:

  • Offers a stable system
  • Transparent workflow
  • Highly-efficient
  • Greatly intuitive
  • Enable effective communication
  • Clinical Integration
  • Effective Inventory Management
  • Simpler claim processing
  • Allows to go paperless
  • Cost-effective & affordable

The features of your pharmacy workflow software should be designed and developed in a way that they bring to notice the ease of its functioning and how things can proceed. If you want to play smart in the domain hire the right software development team and see if they can help.

At Octal IT Solution, we make sure that your pharmacy app has all the details that would make it popular and renowned among your clientele. If you are looking for something that can help you build your identity over the digital domain then you are at the right place.

Top Benefits of Pharmacy Management Software


Why is it important to choose the right Pharmacy Software Development Company?

Well, out there you can easily find countless companies offering services in the arena of pharmacy management, so it will be definitely a tough job to find the one that’s suitable for you. However, once you have your requirements set and clear about your expectations, you can accordingly initiate the search for the right Pharmacy Software Development Company, which is keen to listen and is able to understand your requirements from the Pharmacy Management Software. Communicate your requirements well and if you are sure that the firm chosen by you is right and will succeed in offering the desired results, just go for it.

Managing Director

Arun G Goyal is a tech enthusiast and experienced writer. He's known for his insightful blog posts, where he shares his expertise gained from years in the tech industry. Arun shares his knowledge and insights through engaging blog posts, making him a respected figure in the field.

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