Saving Private Pharmas: Pharmacy Software Motivates New Pharmacists
The pharmaceutical industry is muddled with red tape, some superficial benchmarks, and several small problems contribute to creating a big restraint. It has caused a global slowdown in the industry, reducing the global net revenue in the process. India has been affected by the same.
One of the important factors downsizing the pharmaceutical market is the inability of new pharmacists to manage their business. While a Kirana owner is somewhat able to keep a mental note of his goods, a pharmacy, on the other hand, has to keep an extensive ledger noting different pharmaceutical drugs with similar and variable salts.
A lot more challenges lie between a pharmacist and his successful business, but, these problems can be solved if the pharmacist simply uses a pharmacy software. This tool will aid the user in inventorying and accounting pharmaceutical drugs. The time it takes a pharmacist to open the desired page and write a new entry manually can be halved, even quartered, if a pharmacy software is used. Who wouldn’t prefer typing over writing?
Pharmacy software includes the means to systemize the inventory. With an organized stock, the pharmacist will be able to arrange records of the drugs according to his/her convenience. Imagine needing to sell near-expiry drugs first. Arranging the stock according to that parameter will help pharmacists sell the section where drugs are a year away from expiry.
Some pharmacy software even has the feature to push near-expiry items to be sold first (called push sale). They also suggest high-profit products to customers while billing that the customer is more likely to buy. It serves to increase the pharmacy’s profit.
With the right pharmacy software, one can generate bills, invoices, and also better customer experience with cashier management and home delivery functions. Billing software for a pharmacy shop that processes and generates bills promptly will have pharmacists deal with customers speedily. It will leave them with ample time to supervise other facets of their business.
There are several pharmacy software in the market, like Marg ERP, rx30, and Covermymeds. The choice should resonate on point with the pharmacy’s need. If you’re a minimalist, go for pharmacy software like hCue, rx30, that deliver simple prescription filling and workflow management functions. For an all-around solution, you can try Marg ERP, which claims to be the best pharmacy software in the industry.
Despite the odds, the global pharmaceuticals market is expected to increase to $1170 billion in 2021(research done by The Business Research Company). In 2017, it was recorded to be $934.8 billion, which rose by 5.8%. The rate has increased, compared to 5.2% for the years before 2017.
The competition will rise as generic drug brands flood the market and influence millions to open a pharmacy. Technological evolution has motivated youngsters to take up Pharma and raise a successful and profitable pharmaceutical business. Pharmacy software will have an important part to play in the coming drug revolution, if not big.