State of the Pharmacy Industry: Technology Perspective

Published in Drug Store News

Keycentrix was one of the voices asked to weigh in on the state of the pharmacy industry in the April 2021 issue of Drug Store News. Here’s what we said:

Reducing costs is crucial in today’s competitive environment. What is your company doing to reduce costs for retailers/pharmacists?

Keycentrix products reduce costs for pharmacies because they are built to increase efficiency. Our Newleaf pharmacy management software is a highly configurable solution that can adapt to fit each pharmacy’s unique processes, in a way that is intuitive and easy to learn. The ability to effectively communicate with prescribers and patients, incorporate business rule triggers, and have everything be easily accessible in one place means scripts can be filled faster with a high degree of accuracy. That translates into both operating costs savings as well as the ability to recognize income sooner.

In fact, many of our customers start to see improvements very quickly, within just a few months of implementation. One of our customers found that they were able to experience improvements after just four months of using our software. These results were dramatic and included 2.1 days for prior authorizations (compared to 3+), 11% greater medication adherence, 99.9% accuracy in prescriptions, and 1.5 full-time staffers freed up to do other tasks. All of these things contribute to the bottom line and increase quality of care at the same time.

Do you think ecommerce is here to stay or do you think pent up demand will drive customers back to stores?

Online options such as direct-to-consumer pharmacy and telehealth are absolutely here to stay. The pandemic has certainly accelerated these industry segments as patients have looked for alternatives to in-person care, but the reality is that online options have been around for many years, and consumers in all industries will continue to look for online options. Post-pandemic, we will see the ways in which these segments continue to evolve as patients show how they want to use them going forward. In-person care will never go away, since its benefits remain the same. The real key – and the developments we look forward to seeing – are the ways in which in-person and online can increasingly work together or alongside each other to meet the needs of patients.

You can click here for access to the full issue.