According to Market Data Forecast, the global ePharmacy market was valued at $42.32 billion in 2019 and is projected to grow at a CAGR of 16.81% during 2020–2025. While e-pharmacies are on the rise, local, brick-and-mortar pharmacists are also taking their operations online.
However, managing digital and brick-and-mortar operations at the same time can be challenging. Here’s where next-gen products like telepharmacy software come into play.
Vectorsoft, one of the reputed telepharmacy software vendors, is helping pharmacists transform their business operations with its next-generation product VSCRIPT. VSCRIPT is a complete telepharmacy solution that caters to various needs of pharmacies and pharmacists. It has got three different products tailored to specific requirements.
- VSCRIPT +: This pharmacy management software encapsulates everything you will ever need in a single application.
- VSCRIPT LITE: The telepharmacy software helps patients to get the prescriptions approved by a remote pharmacist.
- MY RX: With this mobile application, patients can check their prescriptions, request refills, and even receive notifications for timely medication.
While the need for telepharmacy solutions is increasing, let us understand its key applications and how it is transforming the healthcare industry.
What Is Telepharmacy Software?
A telepharmacy system is a software solution that allows pharmacists to deliver medications and other pharmacy services to patients located at a distance. As discussed, the global ePharmacy market is on the rise as patients continue to buy medicines online instead of walking to a local pharmacy.
This trend has encouraged pharmacists to adopt telepharmacy solutions to fulfill the changing needs of customers. Telepharmacy software is a full-fledged pharmacy management system that enables you to manage all your pharmacy operations, such as managing inventory, accepting payments, approving prescriptions, and more.
Importance of Telepharmacy Software
As technology continues to transform the healthcare industry, pharmacists need to adapt to the changes quickly. The rise of ePharmacies has obligated local pharmacies to sell online and at the same time manage their offline operations. Manually handling all these tasks can be challenging.
Some common challenges faced by pharmacies include:
- Selling online and offline at the same time
- Coping with the fluctuating demand
- Tracking and managing inventory levels
- Approving prescriptions in real-time
- Adapting to new technologies
- Managing multiple stores
Next-generation products like a telepharmacy software solution can help you resolve all these hurdles. It allows you to manage all your pharmacy operations from one place, stay efficient, and fulfill your customers’ requirements.
Key Functionalities of a Telepharmacy Solution
Some key features and functionalities of a telepharmacy software solution are:
A telepharmacy solution allows you to manage all your telepharmacy operations. You can verify and approve prescriptions, accept online orders and refills, and counsel patients through real-time telecommunication. The software also integrates with your inventory and POS to offer a complete ePharmacy experience to your customers.
2. Pharmacy Management
With telepharmacy software, you can manage all your pharmacy processes from one place. These include processing prescriptions, insurance claims, and more. The solution allows you to store patient information, manage documents, e-signatures, and more. You can also generate sales and revenue reports to determine how your business is performing.
3. Point of Sale
A telepharmacy system comes with point of sale (POS) capabilities that allow you to generate invoices and accept payments from both your online and offline customers. You can accept payments through multiple methods, such as cards, e-wallets, etc.
4. Inventory Management
Inventory management is another important feature of a telepharmacy solution. The inventory management feature helps you manage your inventory more efficiently. You can identify which medicines are understocked and which ones are approaching the expiry date. It also allows you to determine which drugs are in high demand.
Benefits of Using Vectorsoft’s VSCRIPT — A Robust Telepharmacy System
Here are the business and operational benefits of using telepharmacy software.
- Enhance Your E-Commerce Capabilities
In this era of ePharmacy, every pharmacy needs eCommerce capabilities. Telepharmacy software is a next-generation product that allows you to sell online. It enables you to approve prescriptions, accept payments, and automate delivery in real-time.
- Achieve Systematic Sales
Pharmacists often struggle with unsystematic sales. You may end up selling new medications with a later expiry date first, leaving older items unsold. Telepharmacy software integrates with your barcode scanner and displays the expiration date of each product upon scanning. This way, you can adopt a “Last In, First Out” policy, making your sales process much more systematic and efficient.
- Stay on Top of Your Inventory
Data from Wasp Barcode tells that the average accuracy of US retail operations is only 63%, and this included pharmacies too. Manually managing your inventory can be not only time-consuming but also prone to errors. With a telepharmacy software system, you can handle your inventory more efficiently.
- Manage Patient Records
In this era of personalization, patients expect their pharmacists to know their medical conditions and purchase history. Telepharmacy software allows you to store and organize patient records when they first buy from you. Based on this information, you can automatically send refills to the patients.
- Increase Profits
In the end, it’s all about the bottom line. When you implement a next-gen telepharmacy solution, you optimize your pharmacy operations at numerous levels. You can reduce unnecessary costs, alleviate errors, fulfill more orders, and increase revenue and profitability.
As the pharmacy industry continues to become increasingly tech-driven, pharmacies need to implement next-gen products to stay competitive. VSCRIPT is the perfect telepharmacy software developed by Vectorsoft that allows you to handle all your pharmacy business processes from one place, enabling you to be more efficient and profitable.
Are you planning to leverage the benefits of telepharmacy solutions? Find out how VSCRIPT can help you here.