Pharmacy Market BUZZ

Market News, Products, Services, and Trends

Understanding Automation's Impact


Pharmacy and Pharmacies

Understanding Automation's Impact

Today’s pharmacy owner needs to consider many factors not only for their customers but also for their businesses as some of those decisions literally could mean life or death. According to a recent Johns Hopkins study, more than 250,000 people in the United States die every year from medical errors. Medical errors are the third-leading cause of death after heart disease and cancer.


In an effort to reduce human error, pharmacies are investing in pharmacy automation and robotics dedicated to medication management including drug delivery and disbursement. Today’s manufacturers have created unit dose and multi-dose packaging to streamline the process with higher accuracy, speed and output for pharmacists. In turn, pharmacy technology frees more resources and time to support their patients.


Americorp has designed creative financing programs to support pharmacy automation including programs to include medication packaging to target your main pharmacy customers.


Financing programs allow your pharmacy customers to update their systems, reduce human errors, and increase efficiency with a price to fit into their budget.


That's how Americorp is REDEFINING how you offer customer finance solutions! Contact Americorp’s sales team by using the form to the right.


Hospital:

Whether within a hospital or an outpatient pharmacy, these facilities fall under the corporate or community structure of the healthcare system. As with most healthcare businesses, upfront budget dollar allocation and current technological advance always become the prime concerns. Financing programs alleviate the lack of capital funds for more equipment, because Americorp designs programs around a monthly payment vs. the entire amount. Instead of the potential “red tape” in the approval process, a rental program or financing option with fixed payments at a specific number may work much easier than the overall cost. If the hospital then receives funding at a later date, the Equity Rent-to-Own program eliminates current and future technology concerns without the large, upfront expense.


Corporate Finance: 

These pharmacies tend to service assisted living community, hospice care, rehabilitation centers, nursing homes, and other designated long term care facilities. Traditionally, these pharmacies are very capital-intensive businesses with a need to acquire more equipment but they also must manage debt and operational cash flow. Like healthcare systems, a pharmacy group may own several of these facilities and tend to make technology and equipment acquisition in stages with a graduated cashflow to match their incoming revenues. Through financing programs, the customer can upgrade more facilities and technology knowing their payment will remain fixed throughout the term. Using a step-payment lease, they also can have lower payments at the beginning, acquire all needed equipment, use the equipment to generate revenue, and then adjust to larger payments throughout the term.


Independent/Retail:

The retail market has a lot of familiar names on the corner, but many independent pharmacies are small business owners competing with the larger pharmacy markets. They want to spend more time consulting with patients versus needing to spend employee resources fulfilling medication requests. Financing can become the solution to keeping up with the retail chains, freeing up time for patients, and reducing human errors with prescribed medications. Can most small business owners pay cash for pharmacy automation? Probably not. Americorp has helped our vendor partners by creating solutions to fit automation into an independent pharmacy’s budget including bundling in software, disposables/packaging, and everything into one invoice. New dispensing equipment equals faster, safe and more efficient turnaround plus technicians can focus on patients’ needs instead of the mundane administrative tasks.


Today's Posts
Subscribe

This post is related to:

Automation & Robotics