Hospitals depend on pharmacy inventory management apps to cut costs

Hospitals increasingly are using pharmacy inventory management software to reduce inventory costs, but many are unsatisfied with the available applications, according to a new report from the KLAS research firm.

"Improving drug inventory management processes can have a significant impact by reducing inventory on hand and losses from expired medications," said Coray Tate, KLAS research director and author of the report.

While hospitals that used inventory management software said it was better than manual tracking, some complained about deficiencies in formulary database integration and the tracking of medication expiration dates and lot numbers.

Some healthcare systems have tried to further cut inventory costs by centralizing the use of inventory management applications across multiple facilities. The report noted that enterprise inventory management is complex. Nevertheless, providers that have done it successfully report they have further reduced waste while strengthening their buying power.

Hospitals also are growing increasingly dependent on automated dispensing cabinets, according to the survey. The majority of the respondents dispensed 75 percent of medications using these devices.

The report covers pharmacy automation solutions from ABTG, CareFusion, Cerner, McKesson, Omnicell, PHACTS, Swisslog, and Talyst. 

To learn more:
- read the press release