Unlocking the Secrets of a Successful Pharmacy: Key Strategies for Optimal Wellness

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The role of pharmacies in healthcare has evolved significantly in recent years, and the COVID-19 pandemic has accelerated this transformation. Pharmacies, both large and small, have played a crucial role in providing accessible healthcare services and guidance to communities across America. While traditional pharmacy models have focused on dispensing medication, there is a growing recognition of the potential for pharmacies to offer a wider range of clinical services and contribute to the well-being of patients. In this article, we will explore key strategies for unlocking the secrets to a successful pharmacy and achieving optimal wellness for patients.

The Changing Landscape of Pharmacy

The future of pharmacy lies at the intersection of digitalization and consumerization of health. As technology continues to advance and shape the healthcare industry, pharmacies have the opportunity to embrace digital solutions and expand their services beyond traditional medication dispensing. The emergence of healthcare e-commerce platforms, telehealth companies, and pharmacy delivery apps demonstrates the increasing demand for convenient and accessible healthcare options.

To adapt to this changing landscape, pharmacies need to reimagine their business models. One potential model that has been suggested is the “hub and spoke” approach, where a smaller number of certified pharmacists validate prescriptions from centers of expertise, which are then filled by pharmacy technicians at community locations. This model allows for more efficient prescription processing and enables pharmacists to focus on providing clinical services and patient care. In the next 10 years, it is projected that only 20–30% of pharmacies will have certified pharmacists on-site.

Expanding the Role of Pharmacists

Pharmacists have the potential to become more than just medication dispensers. With their extensive clinical education and expertise, they can play a critical role in optimizing patient care and improving health outcomes. The future of pharmacy practice can be divided into four key areas: primary care, specialty care, digital health, and population health analytics.

Primary Care

In primary care, pharmacists can supplement or extend the services provided by primary care providers. They can assist in chronic condition management, prevention and wellness, diagnosing and treating minor acute illnesses, supporting mental health, and enabling aging in place. Pharmacists can take on the role of care providers for patients with chronic conditions, such as diabetes, hypertension, and depression. By offering medication therapy management (MTM) services and prescribing authority, pharmacists can help patients optimize their medication regimens and improve adherence.

Specialty Care

As therapies become more complex, there is a growing need for pharmacotherapy expertise in specialty areas such as oncology, cell and gene therapy, and rare diseases. Pharmacists can collaborate with physicians and other healthcare providers to develop personalized treatment plans, monitor medication efficacy and safety, and provide patient education and support. By specializing in these areas, pharmacists can contribute to improved patient outcomes and enhance the overall quality of care.

Digital Health

The rapid advancement of digital health technologies presents new opportunities for pharmacists to provide innovative services. Pharmacists can leverage digital companions and digital therapeutics to enhance medication management and patient engagement. They can assist patients in selecting and using digital health tools, interpret data from wearable devices and health apps, and provide guidance on optimizing health outcomes. By embracing digital solutions, pharmacists can become valuable curators and coaches in the data-mediated patient experience.

Population Health Analytics

Pharmacists can also play a crucial role in population health analytics. With their expertise in medication management and clinical decision support, pharmacists can analyze health outcome data, identify trends, and design programs to improve population health. By developing algorithms and clinical decision support tools, pharmacists can contribute to the development of personalized care plans and interventions. Furthermore, pharmacists can collaborate with other healthcare stakeholders to address social determinants of health and promote equitable access to healthcare services.

Overcoming Barriers to Change

While the potential for expanding the role of pharmacists is evident, several barriers need to be addressed to facilitate this transformation. One of the significant challenges is the prevailing payment model that focuses more on product dispensing rather than clinical services. To overcome this barrier, there is a need to shift towards value-based payment models that recognize the value of pharmacist-led clinical services. By demonstrating the clinical and financial outcomes of their interventions, pharmacists can make a compelling case for reimbursement reform.

Operational and technical barriers also need to be addressed to enable the integration of pharmacists into care teams. Access to patient health records, real-time claims adjudication, and interoperability between pharmacy and medical systems are essential for effective collaboration and coordination of care. Regulatory barriers, such as the lack of federal recognition of pharmacists as healthcare providers, also need to be addressed to expand the scope of practice and enable pharmacists to practice to their full potential.

Innovative Pharmacy Models

To unlock the secrets of a successful pharmacy, innovation is key. Several innovative pharmacy models have emerged, demonstrating the potential for transformation within the industry. Independent community pharmacies and fully integrated delivery systems have been at the forefront of implementing new practices and models.

For example, Thrifty White Pharmacy, a six-state pharmacy chain, has collaborated with payers to improve population health outcomes. By leveraging their relationships in the community, Thrifty White pharmacists have been able to improve medication adherence, close gaps in preventive services, and provide education and counseling to patients. They have also developed AI-based solutions to streamline clinical workflows and optimize the delivery of clinical services.

Geisinger, a health system, has successfully integrated pharmacists into care teams, starting with a focus on improving outcomes for patients on warfarin. By demonstrating the impact of their interventions on clinical outcomes and patient satisfaction, they have expanded their pharmacy practice to include over 500 pharmacists. This integration has resulted in improved physician productivity and better patient care.

Tailoring Strategies for Pharmacy Owners

For pharmacy owners, embracing the changing landscape of pharmacy requires a proactive approach. To stay competitive and achieve optimal wellness for patients, pharmacy owners should consider several key strategies:

1. Invest in technology: Implementing advanced pharmacy management systems, telehealth platforms, and digital tools can enhance operational efficiency and support the delivery of clinical services. These technologies can streamline workflows, facilitate communication with patients and healthcare providers, and improve medication management.
2. Expand clinical services: Pharmacy owners should explore opportunities to expand the range of clinical services offered in their pharmacies. This can include medication therapy management, chronic disease management, immunizations, and health screenings. By providing comprehensive care, pharmacy owners can differentiate their pharmacies and attract a loyal patient base.
3. Collaborate with healthcare stakeholders: Building strong partnerships with physicians, hospitals, health systems, and payers is essential for integrating pharmacists into care teams. Collaborative care models can improve care coordination, enhance medication safety, and promote better health outcomes for patients. Pharmacy owners should actively seek opportunities for collaboration and participate in value-based payment arrangements.
4. Educate the community: Increasing awareness of the expanded role of pharmacists is crucial for building trust and engaging patients. Pharmacy owners can organize educational events, participate in community health fairs, and provide patient education materials. By demonstrating their expertise and commitment to patient care, pharmacy owners can position their pharmacies as trusted healthcare destinations.
5. Advocate for policy change: Pharmacy owners should actively advocate for policy changes that support the expansion of pharmacist roles and the integration of pharmacy services into the broader healthcare system. This can include advocating for reimbursement reform, expanded scope of practice, and recognition of pharmacists as healthcare providers at the federal level.

Conclusion

The future of pharmacy is full of possibilities. By embracing digitalization, expanding clinical services, and leveraging their expertise in medication management, pharmacists have the potential to play a vital role in achieving optimal wellness for patients. However, to unlock the secrets of a successful pharmacy, various barriers need to be addressed, including payment models, operational challenges, and regulatory constraints. Through innovation, collaboration, and advocacy, pharmacy owners can position their pharmacies at the forefront of healthcare transformation and make a significant impact on patient care and well-being.

Additional Information: Tailored for Pharmacy Owners As a pharmacy owner, it is essential to embrace change and adapt to the evolving healthcare landscape. By investing in technology, expanding clinical services, collaborating with healthcare stakeholders, educating the community, and advocating for policy change, you can unlock the secrets to a successful pharmacy and provide optimal wellness to your patients. Remember, innovation and proactive strategies are key to staying competitive and ensuring the long-term success of your pharmacy.