What is Pharmacy Software?

The pharmacy software is used by pharmacy shops and medical stores to stay updated about managing medicine pricing, expiry dates, billing, and invoices. The pharma software also helps manage the inventory and ensures the seamless functioning of any pharmacy business. With pharma software, you will be in complete control of any tasks right from the procurement of medicines from the manufacturers to their delivery to the customers. The entire workflow is streamlined with the best pharmacy management software.

The pharmaceuticals market is already worth billions and the numbers are drastically increasing manifolds. To explore the dynamic nature of this pharmaceutical industry, there is an inevitable need for technologies such as the latest pharmacy management system that performs all pharma-related tasks with ease and efficiency.

To ease out the complex operations of pharmaceutical shops, efficient pharmacy management software has been introduced. Each pharma software has its unique features as it makes the task of running pharmacy stores faster and easier

What is Pharma ERP Software?

Pharma ERP software and their companies provide help to the pharmaceutical industry to manage retail medical stores, pharma distribution and wholesale, inventory, database management, product prices, employee salaries, invoices, etc. Pharmacy ERP Software helps ensure a better customer service experience and an increased client base.

Online Pharmacy Management Software

Cloud-based pharmacy management software features stores all data for pharmacies on cloud servers. The Pharma Software performs complex functions such as managing dispensing workflows, patient/client details, medication lists, and inventories. Online pharmacy software for medical store also provides compliance management and formulary databases within pharmacies. The online pharmacy software may function independently for pharmacies or may be integrated within an inpatient hospital Computer Physician Order Entry (CPOE) system in hospitals.

Pharmacy Software Applications

The pharmacy software helps you automate tasks such as inventory management, customer outreach, e-Signature, invoice and other retailing services.

Broadly, pharmacy software applications can be classified into four categories:

• Software for Medical Store: The retail medical store software will help grow your medical store business exponentially and allows you to generate invoices easily. The software for the medical shop can help you monitor inventory and generate reports on raw material purchased, sales, inventory with the newest technology and file GST returns.
• Pharma Wholesale Software: The software for pharma wholesale allows you to handle bulk wholesale orders with ease. This features global and local search options, discount options, auto and batch-wise selection, product selection, and order processing in bulk.
• Retail Pharmacy Software: It is used in pharmacy stores that are not directly affiliated with any chain of pharmacies and are not owned by a publicly-traded company. These software programs help independent pharmacies in enabling true retail and a long-term customer service platform.
• Hospital Pharmacy Software: Software used in hospital pharmacy at an outpatient clinic, drug-dependency facility, poison control center, etc. It helps manage the pharmacy stock, expiry date, etc.

Modules of Pharmacy Software

1. Pharmacy Billing (POS): The pharmacies pos software module helps to generate billing and invoicing accurately. This pharmacy GST billing feature directly files their bill and invoices to the GST portal. This feature is mostly used by wholesalers & distributors and medical stores.
2. Pharmacy Accounting: This pharmacy accounting software module helps medical shops and pharma software companies (pharmaceuticals) in the process of GST billing, filing tax returns, and accounting operations like payable, receivables and stock management.
3. Pharma Sales Force Automation: Software is used in the pharmaceutical industry that performs all functions such as email and SMS marketing, inventory tracking and invoice management, barcode and scanning management, managing payment reminders, etc. must be used in medical stores. This SFA software will ease the pressure on store owners and ensure quick and reliable operations in a cost-efficient and timely manner.
4. Pharmaceutical Marketing: For every business to grow proper marketing is necessary, and pharmaceutical marketing automation software does that for you. Boost your visibility and approach new customers.
5. Pharma CRM: Pharma CRM helps the pharmaceutical industry to maintain and build relationships with doctors, physicians, chemists, hospitals, medical stores, and retail pharma shops. this pharma CRM software creates loyalty vouchers and other attractive offers to attract more customers.
6. Pharmacy Stock Management System: This feature helps you track the movement of your inventory. Pharmacy inventory management software helps you check which medicines you are running out of and give you a low-stock alert.
7. Pharmacy Workflow: Pharmacy workflow management software, can manage your entire pharmacy seamlessly. The pharmacy workflow module even helps you check for your employee’s performance.
8. Electronic Prescription: Electronic prescription software module is a digital dashboard that provides managers with updated information about cash flows, profit details, best customer lists, product details, and vendors.
9. Pharmacy Dispensing: This pharmacy dispensing software module is streamlined drug dispensing, encourages patient medication adherence programs,s and manages medical benefits and medical claims.
10. Pharmaceutical Manufacturing: The pharmaceutical manufacturing software module provides process manufacturing functionalities to leading pharmaceutical manufacturing organizations. These functionalities include multi-level formula and recipe management, expiration management, forward and backward lot traceability, production and compliance management, and scheduling and control.
11. Pharmaceutical Compliance: Government authorities set compulsory regulatory guidelines that every pharmaceutical-compliant software needs to follow. This compliance gives them legitimacy in the market.
12. Pharma Reporting: Get comprehensive details of all the transactions, inventory movement, database, and sales performance of your employees with pharma reporting software. access to minute business details to make progress and growth in the long run.
13. Pharmacy PMR System: Patient Medication Record (PMR) system is used by pharmacists to deliver pharmaceutical care as well as manage patients. With a web-based pharmacy PMR system, data is no longer saved on local servers. PMR system is very important for the pharmacy business.

Common Features of Pharmacy Management Software

• Recognizes Expired Items: The pharmacy management software is a great way to manage pharmacy operations as the medical store software does not make bills for expired products. This software alerts the staff at the counter about expired medicines and helps the store owner to systematically purchase new items.
• Systematic Sales: The expiry dates of products get displayed when the billing is done for different batches of the same product. The right batch of the item is chosen based on the FIFO (First In, First Out) and LIFO (Last In, First Out) policy.
• Maintain Separate Registers/Folders: The store owner or pharmacist can maintain a separate register that has details of all the drugs stored in the store with the help of the pharmacy folder. This is a great feature as it keeps track of the composition of medicines and provides substitutes of the medicine that is not available for sale. This is a life-saving alternative in case of emergencies.
• Patients' Medical History: With the help of pharmacy software, store owners and pharmacists can monitor the patient’s treatment as per defined safety standards. Pharmacists can also access and review the medical history of patients.
• Barcode Labels: A barcode label is applied to all products before they are distributed to pharmacies and stores. Automate the labeling of medication and print expiry dates of medicines with the help of the latest pharmacy software for pharmacy stores. Also, pharma billing software helps calculate the number of labels needed.
• Influence Customer Shopping Behaviour: Customer relationship management module of the pharmacy software stores all details about the customer. The pharmaceutical software helps owners send emails and SMS alerts to customers about lucrative offers and promotional schemes. This wins a customer’s trust and increases the owner’s customer base.
• Automatic Delivery: The pharma distribution software has an interesting feature of automatically assigning orders to various distribution channels depending on the supply date of the items and the number of days needed to deliver the order to the customers.

Why Do You Need Pharmacy Software?

A useful pharmacy management software allows you to control pricing and ensures that the medication matches with its prescriptions. The software lets you automate the processing claims. Retail pharmacy software enables coordinated benefits for customers' insurance. Find below the advantages that come in handy when you are looking for software for medical store:

• A pharmacy management system can be easily installed and helps you perform all pharma activities efficiently and accurately.
• Pharma retail software caters to retailing business and helps in managing drug batches, and composition-wise inventory.
• Retail pharmacy software solution performs all functions from planning to sales and keeps the regulatory mandate for retailers, wholesalers, dealers, etc.
• Medical shop software helps pharmacists and store owners respond effectively to changing market trends.
• Its intuitive dashboards and mobile tools make it suitable for multiple stores simultaneously to easily track, manage, and improve.
• Pharmaceutical software assists in recognizing the store’s best customers and help in retaining them through promotional schemes, discounts, and loyalty programs.
• Medical store software gives pharmacists complete control over the entire pharma distribution chain.

Advantages/Benefits of the Pharmacy Software

1. Simplifies Complex Business and Takes Charge: Pharmacy software allows the user to gain control of various business activities and simplifies complex business operations quickly and conveniently.

2. Better inventory management: It helps manage inventory efficiently which leads to revenue generation, Sales data reflects the market demands as well as products that are selling more. This allows companies to update stocks of the products that are sold most so that they never run low on stocks. Updating stocks while billing, holding the new stock as the old stock is still available, scrap management, managing challans, dump stocks and shortage all can be taken care of by the pharmacy stock management software.

3. Secure transaction: Earlier methods of maintaining notebooks for managing transactions are no longer effective. With pharma software, the entire transaction process has become swift and products are accurately scanned for their price to avoid any ambiguities. Transactions have also become safe as pharma software eases out the entire payment process. Retail pharmacy software can be used in one or many stores simultaneously to manage sales and prices.

4. Constant Alerts: Pharmacy stock management software sends store owners constant alerts reminding them about the stocks. The owners also get customer prescriptions through this software to ensure that they have all medicines as per customer requirements.

5. Create Happy Customers: Pharmacy software helps store owners keep their customers happy. Pharmacies process transactions faster and eliminate the risk of incorrect prices. Pharma software also facilitates the use of different payment methods for making payments. Transactions can be carried out using debit cards, credit cards, mobile wallets, and other online transaction modes.

6. Calculate Taxes and Generate Reports: The pharma billing software takes your tax calculation worries away. You can relax as pharmacy software is usually GST enabled. This means that one need not worry about GST calculations because as soon as the production values are entered, the pharmacy billing software automatically calculates the GST value and files GST returns. The software also assists in generating financial reports.

7. Stores Customer Details: The pharmacy management software system enables pharmacy owners to store a customer’s personal information. The software for pharmacy shops also manages operations related to customer billing, shipping products, employee salaries and vendor listings. Billing software manages a pharmacy better and attracts customers and increases sales and profits.

8. Medicine Specifications: The pharmacy management system provides all specifications of the drug and allows druggists to identify the medicines to take for different medical conditions.

9. Connect with Wholesalers: The pharmacy management software system facilitates pharmacists to communicate with their wholesalers and get updates about the inventory and product prices. The wholesaler interface sends the wholesalers’ orders electronically to the pharmacists.

10. Check Deals and Rewards: Pharmacy Software helps store owners and pharmacists check several offers and deals from suppliers on a day-to-day basis. It also helps check reports, reminders and pending returns. Additionally, the software effectively manages gift cards and coupons to monitor and track the success of any loyalty program.

Latest Pharmacy Software Market Trends

According to a report on the pharmacy management system market, the pharmacy management system market will witness a compound annual growth rate of 10.73% by 2026. The report suggests that in the future, the market will provide efficient and personalized care via a distinguished range of online pharmacy software. Let’s take a look at the latest pharmacy software market trends:

• Automated dispensing: These days a lot of pharmacy management systems help with automated delivery dispensing. This new-age technology in pharmacy management software not only reduces the stress on the pharmacist but also ensures that any incorrect delivery parcel is not being dispatched.
• Data capturing in real-time: Real-time data capturing is also a new trend that has been seen in recent times. Latest software updates understand the importance of user data, and therefore, developers have launched an intelligent feature that tracks health issues. With this feature, pharmacists can send an aged customer his/her medicine without him coming to the store.
• Predictive analysis: With predictive analysis technology, your pharmacy software becomes more agile and it helps you increase the effectiveness of your business. The best pharma software eradicates the errors that occur due to the large volume of complex data. There are many best pharmacy software in India that helps in predicting the drug behavior of a customer and improving the pharmacist’s success rate.
• E-prescribing integration: As one of the key features for any pharmacy company, software for medical stores helps pharmacists maintain a log of patients’ experiences post-consumption, usage, or medication. E-prescription makes billing more efficient. Further, retail pharmacy software helps make a successful delivery.
• Inventory management: In your pharmacy business, you develop a robust system for handling pharmacy inventory. This is done by monitoring purchase orders, supplies, and the remaining stock of a medicine. Therefore, inventory management software is essential to the pharmacy business.

What to Consider When Purchasing A Pharmacy Software?

Planning to buy a software solution for your independent pharmacy? Well, it sure may look difficult and overwhelming as there are so many things to consider when buying one for you. Keeping a track of the pharma business is not easy and most certainly, it requires time, skill and effort to achieve success. But fret not! We have listed out 4 things that you should consider before buying pharmacy software.

• Customer support: First and foremost, you should check out if the software vendor offers customer support. Those who have no prior experience in the trade, require some handholding in terms of navigating through the software. Unless you buy pharma retail software that doesn’t have proper customer support, you will continue to struggle with it. This is a key factor for independent pharmacies that have positioned themselves in caregiving.
• Choosing the right software: It is the foundation step, and so it is important for you to decide which company’s software you buy because, in the end, that software will be responsible for your business growth. The software for a medical store with the right support infrastructure can help you retain not only your customers but also provide efficiency to your business.
• Innovation and technology: What would be a step-up for your pharmacy software would be innovation and technology. Having said that, it doesn’t mean you should go for a medical store software with a myriad of options. Software for the medical stores should allow you to grow your business and build other services into your pharmacy.
• Software price: The most deciding factor in all kinds of selling, it is something that should decide whether you should buy a particular product. Just as you feel hesitant in choosing the most expensive software, you should also be cautious in choosing the cheapest solution. For example, you should look if, in the name of low cost, you are getting limited features with additional hidden fees and horrible customer support. In that case, buying the cheapest pharmacy software will cost you more in the long run.