Now as we talk about the Healthcare Industry, 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 which 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 of the community has layers of crucial data that should be shared with the ecosystem as a whole.”
To be honest, can’t agree more! Healthcare industry as a whole holds such 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 case of Pharmacy Management Software, well, it has its types. Yes, there is this whole list of software and it is vital to have a 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?
- 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)
- 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 generate regular and on-demand reports, which illustrate pharmacy KPIs with engaging graphics and enable comprehensive business analysis with ‘what-if’ measurement tools.
- 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 chemical inventory database (comprising of chemical components, wholesale prices, and log numbers), calculate formula costing, compare generic & brand-name drugs, and also to create consistent labels with unique barcodes.
Recency of Software Replacement at Independent Pharmacies
- 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.
- 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/understocked deliveries, and to 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 plan & 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, to maintain audit trails & Electronic Batch Record (EBR), and to integrate with scanning technology for capturing and automatically organizing information from physical forms.
- e-Prescribing Software Integration
In this solution, Pharmacy Software Developers engineer e-RX network architectures for 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 robotic dispensing system for automation of prescription fills, formula compounding, & other pharmacy operations. The software is integrated with web-based & Interactive Voice Response (IVR) autofill system, inventory management programs, 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 which 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.
What are the qualities of good Pharmacy Management Software?
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
- Greatly intuitive
- Enable effective communication
- Clinical Integration
- Effective Inventory Management
- Simpler claim processing
- Allows to go paperless
- Cost-effective & affordable
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 of 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, who is keen to listen and is able to understand your requirements form 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.