We are scratching only the surface of what artificial intelligence can do in a pharmacy environment. The new analytics directed by it can identify potential instances of medication overload polyparmacy, for example.
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Pharmacy, a centuries -old institution and honorable presence in communities around the world, is evolving before our eyes.
Business realities, shifting consumer preferences, competition from decayers and advances in digital technology are among the factors that direct a reimony of the role pharmacies play in our lives and a re-engineering of business models on which pharmacies have long been supported to be profitable.
“To continue to meet the growing needs of patients, we need to evolve how community pharmacy works and, most importantly, how we support our pharmacy teams to create a sustainable future for community pharmacy,” said Prem Shah, president of the Pharmacy and Consumer Health at CVS. 2024.
Based on those findings, CVS says there is a “critical need for sustainable and escalating changes throughout the industry, such as operational improvements and digital innovations to better support the pharmacy teams behind the counter.”
Here are four areas of concentration for pharmacies to bring about that change:
1. Review of the business model with brick and mortar. Even amidst a wave of retail store closures and holidays, the research suggests that consumers still prefer a face to face with their pharmacist, in a brick and mortar environment. In CVS analysis, 70% of customers said they prefer pharmacist interactions within persons.
Expanding the range of health care services they offer is a valuable way forward for pharmacies because it enables them to use the trust they have built with consumers. Meanwhile, consumers are looking for pharmacy to provide more healthcare services.
What services to offer? In a 2023 report by McKinsey based on a study of 1,000 US customers, about 40% said they are interested in treating ordinary ILS, melting all health and other services such as primary care, dental work and X-rays through their pharmacy. Vision care, nurses, physical therapists, doctor’s assistants and even MDS can also be part of the package. Basically, pharmacies can serve as a local health care center, where patients receive personalized and high -touch services.
2. Digital infrastructure to give a superior cx. With newcomers like Mark Cuban Cost Plus Company Company of drugs entering the prescription drug business to reduce costs and increase convenience for consumers, it is the duty of pharmacies to distinguish themselves by enriching their client experiences.
To do this, they can add conveniences such as tracking online recipes, home distribution, and ordering, assigning, making payments, etc., through an app. They can also provide a recipe price tool similar to Opum Rx Price Edge to help consumers find the best price for a particular medicine. Providing a telemedicine option will also increase customer experience. Skills like these add face -to -face interactions that value consumers.
Making services like these, along with the aforementioned concept of health care destination, requires sophisticated digital infrastructure at the back, as well as digital tools with the consumer’s face, because as CVS claims, “the vast majority of Americans-90%-believe that an experienced, digital experience.
All parties that provide attention to patients must have accessible access to a single source of truth for every aspect of the patient Traveling so they are fully informed and prepared to meet the patient’s needs. The entire pharmacy ecosystem should be digitally linked to systems that enable providers to access it easily, safely and compatible (a high consideration of hipaa) and share fresh patient data on medicines, treatments, prices and more.
All of this will require widely accepted standards and policies that regulate the front and back systems and processes, the treatment of electronic medical records, the secure management and exchange of data and communications. Will also require interaction between systems and data. Purpose: Create a digital thread that connects every aspect of a patient’s care, and which results in a quiet experience for the patient.
3. He. We are scratching only the surface of what artificial intelligence can do in a pharmacy environment. New analyzes directed by it can identify potential instances of medication overload polyparmacy, for example. Generating bastards he (Genai) can support pharmacists by predicting certain risks raised for patients, diagnosing issues, recommending medicines and treatments and even providing guidance to care providers during a patient discussion. It can also help pharmacies manage their compliance responsibilities – and the data required to meet them. Moreover, intelligent abilities can even predict the likelihood that an individual will become unhealthy with their medicines.
4. More sophisticated training to support pharmacists as they play a greater role in patient care. Deloitte predicts a future in which pharmacists can be “the next generation of primary care providers … who treat patients with acute illness and manage chronic conditions such as diabetes, hypertension and asthma”. And in fact, the findings from a 2024 report by Surescripts suggest that pharmacists are ready to embrace a greater role in patient care. The report found that 75% of pharmacists said they should be allowed to take more primary care tasks
Arrival there will require not only regulatory changes, but more powerful training, where pharmacists have easy access to education and certification resources to get the knowledge needed to provide these services, and the parties can easily verify the pharmacist credentials. Because ultimately, for pharmacies to evolve and meet the changing needs of today’s customers, pharmacists will also have to evolve.
This story also appears in The future of trade.