Pharmacy inventory management software tracks orders, monitors supply and usage of stored medication, and facilitates both pharmacist verification and billing. This software is specifically concerned with the management of drug and medication inventory, not the inventory of hospital equipment or devices. Pharmacies, clinical trial labs, and health care systems can all leverage inventory management software to better handle and dispense drugs, track retail documentation and information, and reduce both operational costs and medication waste. To better determine which drugs should be regularly re-ordered, users can look for pharmacy inventory management that easily integrates with utilization management software. Pharmacy inventory management solutions exist either as standalone software or modules within comprehensive pharmacy management systems.
To qualify for inclusion in the Pharmacy Inventory Management category, a product must:
Record each drug that is stored and dispensed to patients (cost, lot number, expiration date, patient name)
Track drug shipments and deliveries
Centralizes inventory data like a count of how much of each drug is in inventory, trends in usage, and trend data on anticipated demand versus reality