Embracing Digital Transformation: How Pharmacies Can Thrive in an Evolving Health Care Landscape

The US health care industry is rapidly changing. With a looming primary care physician shortage, increasing cost of care, and growing acceptance of health care delivery in non-traditional settings (especially among younger patients), pharmacies are well positioned to meet increasing consumer demand and generate healthy revenue streams well into the future. To make it happen, it can be beneficial for pharmacies to rethink how they operate and, critically, how they engage with patients.

For many health care consumers, self-service options are key to effective engagement. Yet the 2023 Voice of the Patient national survey found that nearly one third (29%) of patients are dissatisfied with the lack of self-service options in health care.¹

However, digital solutions do exist to accommodate these patient preferences. Consider 3 different types of pharmacy patients through the lens of today’s self-service options:

Customer #1: Patients with serious chronic disease

People with chronic diseases often prefer specialty pharmacies and mail order subscription refills. For patients battling cancer, diabetes, and other serious conditions, not thinking about when to request subscription refills and how to pay for them is one less disease-related decision they must make. Paying with credit or with debit cards on file can make life just a little easier for them as well.

Payment convenience is obvious with credit cards on file, which many pharmacies are now beginning to offer. But where is that sensitive data being stored? Some pharmacies still use spread sheets for this information, which are not in compliance with payment card industry (PCI) standards. Since patients deserve their payment information to be secure, a pharmacy should remain PCI compliant.

One solution can be online patient payment portals, which securely store credit card information and other patient data. Portals with credit card capabilities also deliver the convenience of allowing patients to “set it and forget it” for ongoing prescription refills and automatic payments.

Customer #2: Hospital patients

Hospitals with robust, fully integrated retail pharmacy services make it easy for patients, particularly seniors who may lack mobility, to receive meds and even equipment for home use. That ease should extend to convenient, digital payment options too.

Even large retail pharmacies, which provide meds-to-beds programs are wise to offer convenient digital payment methods, along with medication education, before patients leave the hospital.

Some hospital patients may opt to pick up their prescriptions on their way home after discharge. Payments everywhere technology makes that easy with text notices when prescriptions are ready for pickup, combined with the ability to pay via phone or text in advance. Patients can “grab and go” with their prescriptions much like they can through Starbucks mobile pick up, which is where customers can swing by to pick up coffee they have ordered and paid for in advance. Not only are long wait times eliminated for patients, pharmacy staff are spared the challenges of dealing with tired, sick, and potentially frustrated patients.

Customer #3: Patients with tight budgets

Chronic illnesses sometimes require expensive drugs that challenge the budgets of many people. One national survey found that 37% of Americans chose not to fill a prescription because of cost concerns.2 Helping pharmacy customers pay for their meds can be accomplished with personalized installment plans.

Sophisticated generative AI models can be built into payment portals to generate patient-specific payment plans that help patients pay, while communicating that you care for them. When installment payment options are presented digitally, patient embarrassment is eliminated, privacy is maintained, and important revenue is retained. In other words, a better experience for everyone.

Let Their Fingers Do the Walking

Of course, sometimes patients do want to check order status and to pay for new and refill prescriptions when it is convenient for them and within a timeframe of just a few seconds. It’s best to provide a variety of options—text, phone call, print, or email—for doing this in the way the patient prefers.

Breaking Down Perception Barriers

Making it fast, easy and relatively inexpensive for patients to engage with your pharmacy and related-health services is synonymous with delivering a good health care experience. Pharmacies already offer consumers the convenience of dropping in anytime without an appointment, combined with access to highly knowledgeable pharmacy staff.

By embracing the digital transformation in health care, pharmacies can make a big leap forward by providing an even wider range of health care services quickly, conveniently, and affordably. Not only will consumers win, but pharmacies will also be positioned to increase revenue and access to care, while helping to address critical supply issues in the US.

REFERENCES

1. RevSpring survey reveals how patient experience drives loyalty, trust, and financial outcomes. RevSpring Inc. February 28, 2023. Accessed June 10, 2024. https://revspringinc.com/resources/blog/revspring-survey-reveals-how-patient-experience-drives-loyalty-trust-and-financial-outcomes/
2. Survey shows Americans seek non-emergency healthcare at pharmacies. Wolters Kluwer. May 17, 2023. Accessed June 10, 2024. https://www.wolterskluwer.com/en/news/survey-shows-americans-seek-non-emergency-healthcare-at-pharmacies