Pharmacy management system solutions have been improving significantly during recent years through adding several features and technologies to them, such as artificial intelligence (AI) and big data.
What is Big Data?
An enormous volume of data that is difficult to be analyzed by using traditional software, and it’s the result of collecting complicated information from more than one source.
This data can predict any future visions, behaviors, and dealings of clients that contribute to improving and developing the pharmacy management’s ways and methods.
This data can help to predict the success of a prescription with one patient or a group of patients through studying models of similar patients. Further, it helps in predicting the sales process, as it collects and analyzes a massive number of inputs.
Effects of Big Data
Big data can help pharmacy management to minimize expenses through collecting and analyzing relevant information to identify the pharmacy’s strong and weak points, in terms of inventory and maintenance costs, etc. and take the proper actions to reduce expenses.
For example, by using big data, it is possible to know which drugs are being used excessively, which drugs are most researched for, and which drugs are being used for other than their primary purpose.
Studying the Behavior of Patients
Big data can monitor and analyze the behavior of patients regarding their drug consumption, whether it is related to misuse of drugs or adherence to the instructions of prescriptions.
It also monitors the pattern of drugs using, whether it is continuously or intermittently, as well as adherence to the number of doses and the real causes of side effects.
For example, the United States incurred an estimated 290 billion dollars loss due to misusing drugs by patients, according to Forbes.
Big data can effectively assist in developing pharmacy management by obtaining information that helps the management to improve workflow.
Investing in technologies that are driven by big data can help in reducing the burden on pharmacists, raising the culture of smart pharmacy, improving the efficiency of pharmaceutical care, and boosting the rates of safety monitoring.
Improving the Quality of Operation
Big data assists the pharmacy manager in analyzing the data related to operation quality, including generating automated performance reports, analyzing human errors and frequency of occurrence, as well as, predicting any potential human errors.
All of those insights are based on the accurate analysis of your staff members to improve future operational plans.
Also, it can provide the management with detailed information about the best medications to treat patients and what are the most common diseases and complication risks.
Further, pharmacy management gets to know the peak time and when patients frequently visit the pharmacy branches.
Creating Pharmaceutical Formulations
Through big data, innovative pharmaceutical formulations can be suggested based on a scientific basis.
Besides, it can predict possible side effects, which helps in speeding up the process of developing medicines and reducing human errors.
Improving Management Pattern
By depending on big data, businesses can build a comprehensive vision on development opportunities, as well as identifying the weak points in pharmacy operations, such as time-wasting on routine-like tasks, which leads to spending expenses on elements that don’t contribute to overall ROI.
In addition, it enables pharmacy owners to know recent trends in pharmacy management and developing skills and tools needed for pharmacy personnel to keep pace with the latest technology.