Top 5 Pharmacy Trends for Hospital and Health System

Top 5 Trends for Hospital and Health System Pharmacies

Hospital and health system pharmacies are under pressure as never before. They are feeling the effects of COVID-19, which has put a strain on resources, while at the same time they are being asked to do more with less. The pandemic has also accelerated some long-term trends that were already underway, such as the move to value-based care and the use of technology to improve patient outcomes. In this blog post, we will explore the top 5 major pharmacy trends in the hospital and health system pharmacies in 2022. These trends include an increase in the use of technology, a focus on patient safety, and a move to value-based care.

  • The Rise of Specialty Pharmacy

Speciality pharmacy has become one of the pharmacy trends that is becoming an increasingly important part of healthcare operations. Specialty pharmacies are focused on providing medications and services for patients with complex or chronic conditions. These pharmacies often have expertise in specific disease states, and they offer a range of services that can help patients manage their condition and get the most out of their medication.

Specialty pharmacy is one of the pharmacy trends that is growing in popularity because it can provide better care for patients with complex conditions. In many cases, specialty pharmacies can offer more personalized service and support than traditional retail pharmacies. They also have access to a wider range of medications, which can be a big advantage for patients who need to take multiple medications or who have difficulty finding certain medications.

There are several pharmacy trends that are driving the growth of specialty pharmacies. First, the number of Americans living with chronic conditions is rising. According to the CDC, about one-third of adults in the United States have at least one chronic condition, and this number is expected to increase as the population ages. This trend is especially notable among Baby Boomers, who are more likely to suffer from chronic conditions like diabetes, heart disease, and cancer.

Second, advances in medical science are resulting in more treatment options for chronic conditions. This means that more patients are able to benefit from specialty pharmacy services. Third, payers (including insurance companies) are beginning to recognize the value of specialty pharmacy services. This is resulting in more coverage for these services, which makes them more affordable for patients

  • The Increasing Use of Technology in Pharmacy

According to the American Society of Health-System Pharmacists (ASHP), the use of technology in pharmacies is increasing. ASHP’s 2017 National Survey of Pharmacy Practice in Hospital and Health Systems found that nearly three-fourths of respondents said they were using some form of clinical decision support tools, such as a computerized physician order entry system or a clinical decision support system.

In addition, nearly half of respondents said they were using an electronic health record (EHR) system, and almost two-thirds said they were using an automated medication dispensing system. The survey also found that pharmacists are increasingly involved in telepharmacy services, with almost one-third of respondents saying they provide some form of remote pharmacy services.

The increased use of technology in the healthcare industry is leading to improvements in patient care. For example, EHRs can help improve communication between clinicians and increase the accuracy of medication orders. Automated medication dispensing systems can help reduce errors and improve efficiency. And telepharmacy services can help extend access to care for patients in rural or underserved areas.

  • Out-of-pocket Costs Impacting Patients and Revenue

Specialty medicines have become key alternatives for treating cancer and other complex diseases, but they also present substantial access and financial challenges. Patients now face more financial problems as a result of the high cost of specialty drugs and the growing popularity of high-deductible health plans (HDHP). Patients are more likely to stop their therapy as out-of-pocket costs rise (due to rising charges or insurance refusal). 

Your hospital and health system pharmacy is more involved with the revenue cycle than ever before as a result of this trend, ensuring that physicians get compensated for medicines purchased. Improving patient adherence and health outcomes requires integrating financial support. Additionally, it requires patient assistance, and numerous other philanthropic activities in the revenue cycle.

  • More Convenience for the Customer

There are two sides to convenience. Customers expect a simple and efficient healthcare pharmacy experience. They want to be able to request a refill right away and to know the status of their order at any time.

In fact, medication pickup is becoming automated. More and more people are receiving their orders via mail since they find it more convenient to have their medicines delivered right to their door.

3 million medications had been picked up using these kiosks as of August 2021. Even after the pharmacy has closed for the day, it enables patients to acquire their drugs on their own schedule. To make your patients’ lives easier, think about offering them a service like this.

  • Virtual Reality: The New Frontier in Healthcare

Today’s e-commerce and digital marketing industry have made it common practice to buy medical equipment from online retailers. Online pharmacies can boost their clients and reach a wider audience. Customers may easily order their medications online, have them delivered to their homes, and do it while relaxing on the couch. They only need to upload the prescription, and the merchant will verify it. Orders are dispatched to the appropriate clients when the medications have been packaged.

Some healthcare professionals are already treating patients with chronic pain with virtual reality instead of prescribing highly addictive drugs. The FDA has approved the marketing of a VR technology that is prescribed to treat persistent back pain. VR therapy’s early successes in treating stress, anxiety, despair, and terror are encouraging. There is optimism that VR technology is used more frequently. It will be covered by healthcare plans even though it is not currently the case.

Conclusion

In conclusion, As technology advances, it becomes more important than ever for pharmacies and health systems to be aware of the latest trends and developments. Pharmacy trends need to be adapted accordingly, which means every pharmacy should choose the correct IT tools, such as integrated pharmacy management software.

FAQs:

What is the newest medical technology in 2022?

The newest medical technology in 2022 will be mRNA technology. MRNA technology has gained attention because it is a component of the new Covid-19 vaccinations.

What are the top 3 most important advances in medical technology?

  • MRNA Technology
  • Neurotechnology 
  • Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)

What are some recent innovations in healthcare?

Some recent innovations in healthcare include the use of patient portals, telemedicine, wearable technology, and robotic surgery.

What is the future of healthcare technology?

The healthcare technology market is rapidly growing. The industry is expected to continue its positive growth trajectory as payers, providers, and patients demand better tools, better access, more efficient processes, and lower costs.

What are the benefits of buying medical supplies from Health Supply 770?

Health Supply 770 has all of the medical supplies you need to live comfortably. We carry a variety of medical equipment, including syringes and needles, medical apparel. Additionally, wound care, catheters, gloves, BD vacutainers, and other medical supplies.

uzma e1714761913269

PhD Scholar (Pharmaceutics), MPhil (Pharmaceutics), Pharm D, B. Sc.

Uzma Zafar is a dedicated and highly motivated pharmaceutical professional currently pursuing her PhD in Pharmaceutics at the Punjab University College of Pharmacy, University of the Punjab. With a comprehensive academic and research background, Uzma has consistently excelled in her studies, securing first division throughout her educational journey.

Uzma’s passion for the pharmaceutical field is evident from her active engagement during her Doctor of Pharmacy (Pharm.D) program, where she not only mastered industrial techniques and clinical case studies but also delved into marketing strategies and management skills.

Throughout her career, Uzma has actively contributed to the pharmaceutical sciences, with specific research on suspension formulation and Hepatitis C risk factors and side effects. Additionally, Uzma has lent her expertise to review and fact-check articles for the Health Supply 770 blog, ensuring the accuracy and reliability of the information presented.

As she continues her PhD, expected to complete in 2025, Uzma is eager to contribute further to the field by combining her deep knowledge of pharmaceutics with real-world applications to meet global professional standards and challenges.