Pharmacists are turning to digital technology to improve operations and cost management while making critical changes in response to an anticipated decrease in profit with the advent of 60-day dispensing, the CommBank Pharmacy Insights 2023 report reveals.
The report, produced in association with the University of Technology Sydney and IQVIA, shows that confidence among community pharmacies reached its highest ever point in late November 2022, but declined sharply by May 2023, following the announcement of 60-day dispensing rules.
CommBank Health CEO Albert Naffah said pharmacists are innovating to improve competitiveness and customer experiences in response by ramping up their digital capabilities, expanding professional services and their scope of practice.
“Digitisation is providing opportunities for pharmacies to create greater efficiencies in managing their day-to-day operations and implementing solutions to improve workflow and cost management,” Mr Naffah said. “Deep insights are also helping pharmacies to set and manage targets and make better customer-focused decisions.”