Long-Term Care Pharmacy Management: The Impact of Emerging Technology
The long-term care (LTC) industry is growing rapidly, and it’s not expected to slow down in the near future. In fact, quite the opposite.
Fourteen million Americans are currently in long-term care, a number that is expected to double by 2050 as the baby boomer generation ages. As the industry expands, more and more LTC pharmacies are embracing emerging technologies to improve workflow efficiency and take on more prescriptions and facility partners.
Let’s discuss the impact and benefits of emerging technologies such as long-term care pharmacy management systems.
5 Benefits of Long-Term Care Pharmacy Management Systems
With the right innovative long-term care pharmacy management system, you can:
1. Improve Workflow Efficiency
Using long-term care pharmacy management software, pharmacies can automate time-consuming manual tasks and dramatically improve workflow efficiency—all without the need to increase their overhead or expand the number of full-time employees (FTE).
LTC pharmacies can automate various steps throughout the entire dispensing process, as well as labeling, toting, and delivery.
2. Ensure Dispensing Accuracy
Accuracy is another benefit of LTC pharmacy management systems. LTC pharmacy management systems often have quality checks and balances in place to ensure dispensing accuracy, minimize dangerous medication errors, and prioritize patient safety. Built-in quality checks and balances help ensure the right medications always get to the right person, at the right facility, at the right time.
3. Compete More Effectively
In a growing industry, competition is an important consideration: How can pharmacies gain a competitive advantage that helps attract new customers?
LTC pharmacy management software not only improves accuracy and efficiency but also offers features both current and potential facility customers want. As a result, pharmacies can market themselves more effectively and strengthen relationships with facility customers.
4. Maximize Your Margins
The right technology can also help LTC pharmacies gain better control over inventory, costs, and labor to maximize margins. With greater visibility into real-time operational metrics, pharmacies can make smarter data-driven financial decisions, increase cash flow, and reduce waste. Additionally, saving time thanks to improved efficiency maximizes LTC pharmacy margins.
5. Scale Without Limitations
Then there’s scalability—technology helps pharmacies bring on new facility customers, enabling continuous and sustainable business growth with solutions designed specifically for long-term care. The ability to design a custom system framework that meets each pharmacy’s specific needs makes growth possible without introducing unsolvable challenges and limitations.
How FrameworkLTC Stays at the Forefront of Industry Innovation
Innovation is something we pride ourselves on at FrameworkLTC. We’re committed to offering LTC solutions that meet (and even exceed) our customers’ expectations. We stay at the forefront of continuous industry innovation by offering:
A Full Suite of Integrated Solutions
FrameworkLTC’s full suite of solutions is purpose-built for long-term care pharmacies. In addition to FrameworkLTC, we offer solutions to support every step of the LTC pharmacy workflow, including:
Electronic content management
Business intelligence
Delivery management
Barcode scanning
Medication review
Facility collaboration
Better yet, our solutions integrate with more technology partners than any other pharmacy software solution, allowing for even better accuracy and operational efficiency. We’re always expanding the list of products that interface with FrameworkLTC. (Don’t see something you need on the list? Just ask!)
Quarterly Releases and Enhancements
Our solutions are ever-evolving, much like technology as a whole. We offer consistent, reliable quarterly releases to regularly expand on and enhance our products based on emerging technology, industry regulations, and most importantly, user feedback.
For example, we recently launched FrameworkRxP, a web-based medication regimen review (MRR) platform that builds on the success of our existing MRR solution, RxPertise. We designed FrameworkRxP to enable:
Better collaboration
Real-time data access
Enhanced data security
Easy accessibility
Scalability for our customers
Yearly FrameworkLTC User Conference
Our yearly FrameworkLTC User Conference offers valuable insight into what users are looking for, industry best practices, and exciting new ideas. It’s also a great opportunity for us to recap or preview emerging technologies in the industry and share what’s coming for FrameworkLTC users. (Save the date: Mark your calendars for the 2023 FrameworkLTC User Conference, September 11-13 at Encore, Boston Harbor!)
In an industry that’s constantly growing, shifting, and evolving, innovation is key. Download The Complete Guide to LTC Pharmacy Software to learn more about the impact of emerging technologies in long-term care.