By 2024, the global market for pharmacy automation will reach nearly $8 billion. The highest technology priority is improving operations with machines such as automated dispensing cabinets and controlled substance tracking. Thanks to the problems created by COVID-19, hospital pharmacists have seen their technology initiatives change dramatically.
Thanks to the pandemic, pharmacies are facing rising costs, decreased revenue, and staff burnout. The necessary infrastructure for PPE and physical distancing added costs to the balance sheet. The drop in elective procedures and new prescriptions reduced the revenue coming in. Even before the pandemic, 75% of pharmacists reported symptoms of burnout. As of May 2021, 4 in 5 pharmacies struggle to fill open positions, the most common of which being pharmacy techs. Raising wages and benefits can alleviate labor burdens, but it also makes the rising cost problem worse.
Outside the pharmacy’s walls, drug issues have been a consistent problem. When the pandemic came, the issue became even more critical. In 2020, 85% of hospital pharmacists reported increased drug shortages due to the pandemic. The most common drugs to be short of are albuterol inhalers, sedatives/anesthetics, and neuromuscular blockers. Almost all pharmacies had to make changes to their supply chain, including acquisition, products, and increased levels of inventory. Increased inventory runs into the problem of waste; 1 in 6 of hospital pharmaceutical inventory is wasted, most often due to expiration. Drug recalls also require the disposal of potentially large quantities of inventory.
Pharmacy automation technologies can fill the gap. Automation opportunities currently under consideration include inventory management, pill sorting/counting/packaging, and automated dispensing cabinets. Technology reduces the number of human touchpoints that exist between a patient and the medication they need, leaving fewer opportunities for error. Automated dispensing machines can dole out nearly 6 times the number of medications a pharmacy tech can while costing ⅔ as much as a human on average. Inventory tracking can help hospitals avoid the spoilage of laying their equipment to waste today. Tracking can also help pharmacists locate recalled lots quickly to ensure they never go out to patients. Automation technologies are coming to pharmacies.