Fueling Pharmacy Transformation and Growth with Trusted Drug Information to Support Monetized Clinical Services

The surge in prescription volume has been a common strategy, but it hasn't always yielded the desired financial results, especially for independent drug stores and supermarkets, prompting many to exit the market. As a result, the pharmacy industry finds itself at a crossroad, seeking innovative ways to monetize clinical services.

One powerful solution lies in leveraging trusted drug information. By integrating reliable and current drug data and resources into their operations, pharmacies can transform their practices and unlock their true potential to deliver exceptional patient care. Here, we will highlight four areas of growth and explore how pharmacies can optimize their services to improve patient outcomes.

Expanded Clinical Services

The expansion of pharmacy services beyond traditional drug dispensing can be a game-changer. By stepping into the realm of chronic disease management, supporting mental health, and aiding aging seniors, pharmacies can position themselves as convenient primary care providers. With trusted drug information at their fingertips, pharmacists can offer comprehensive care, empower patients, and improve overall well-being.

Although requirements vary by state, some states give pharmacists the ability to prescribe medications. For example:

• Modify drug therapy by managing chronic conditions

• Administering vaccines

• Ordering and interpreting lab tests

• Prescribing Paxlovid for COVID-19 treatment

It is important to note that before prescribing Paxlovid, pharmacists must make sure patients meet requirements such as age and weight restrictions, a positive test result or be at high risk for developing severe COVID-19. Pharmacists must also check for potential drug interactions, as well as renal and hepatic function that may contraindicate prescribing Paxlovid.

Even though some states have given pharmacists the ability to prescribe certain medications, the industry has been strained by lack of access to patient electronic health records and the absence of a pathway to reimbursement for the required patient assessment. The pharmacy industry must resolve these barriers to successfully manage these services at the pharmacy counter.

Utilizing Pharmacotherapy Expertise

Specialized therapies require a unique skill set and deep understanding. By developing pharmacotherapy expertise and offering complex specialty care services, pharmacies can tap into a high-demand market. Trusted drug information plays a critical role in ensuring safe and effective management of complex therapies, giving pharmacists the confidence to excel in this expanding area.

Population Health Management

Identifying health improvement opportunities and designing customized therapy plans to enhance population health outcomes is an area where pharmacies can truly make a difference. Armed with trusted drug information, pharmacists can take a proactive approach to population health by implementing preventive measures, promoting healthy lifestyles, and offering targeted interventions.