Hospital pharmacy software South Africa

Patient experience with efficient hospital inventory management

Hospital management Pharmacy software benefits - inventory optimisation, reduced procurement costs | Vikas 2.0 ERP for hospitals India

Patients & pharmacy inventory management

Timely Treatment: – With Vikas 2.0 hospital pharmacy software benefits, fully integrated with hospital ERP systems, time in sharing the information is minimised to a single click. Patients do not have to wait in long queues or repeat the same information again and again as their information is already stored in the hospital pharmacy module.

Hospital pharmacy software

Fully Integrated Systems: – The laborious & monotonous work of sharing information with different departments done manually is eliminated using the Vikas 2.0. The inventory management software would store all the data of a patient on the web-based system which could be used by any department given access to. This prevents error while shifting of data as well as enhances productivity of the management using pharmacy management system features.

Raises employees Morale: – It’s not only the patients who have to face the poor health care sector but also the hospital staff who are demotivated to work in such conditions. There exists an acute shortage of Hospital staff in the continent. According to several researches, about 1 million hospital staff is needed to be recruited to deliver quality healthcare services to the patients. With Vikas 2.0, employees need not work on the basic under skilled jobs. The system would automatically generate purchase orders, keep a track of inventory and schemes and offers. Not only that, one click purchase order for inventory going below re-order level would be present as well. 

Reduce Back-Office Workload: – Vikas 2.0 hospital ERP with pharmacy software South Africa with inventory optimization process eases the monotonous back office workload through the supplier portal where direct GRN (Goods Receipt Notifications) entries are made towards advantages and disadvantages of the pharmacy management system.        

 

Hospital pharmacy software South Africa benefits - cost savings

Pharmacy inventory optimisation software cost savings | Vikas ERP for hospitals - India

Saving money on the lapse of Inventory: – Hospital inventory optimization comes with a lot of responsibilities, and heavy costs irrespective of the size and location of the hospital. In a developing nation like Zambia, continuous efforts are made to improve the healthcare standards of the country. A major problem faced by these hospitals is improper inventory management. Huge costs are incurred for the hospital in case the pharmacy inventory management is neglected. Software Associates has got you covered. 0.25% of the savings on the asset value will be there as timely alerts would be sent to the administration when inventory levels fall below a minimum point, which is among the key objectives of the pharmacy management system, which is part of the hospital ERP software modules.

User–Selected Inventory optimization: – With growing urbanization, enhanced business environment, and improved healthcare facilities in the Sub-Saharan region, Africa becomes the only continent where the pharmaceutical industry could still grow at a significant rate. In 2013, the industry’s growth quadrupled to $20.8bn from $4.7bn a decade ago. Such progressive growth allows the players in the industry to leverage minute errors due to technology illiteracy. Maintaining manual records of pharmaceutical products like the expiry date, content, etc. gives an invitation to major human errors. Vikas 2.0 keeps a record of each, and every product stored in the pharmacy software and ensures that first-in products are the first ones to be sold off. This saves huge costs incurred when products are lying in the store.

End-of-Day Cash Management: The human brain receives information from the body at 11mn bits per second yet the conscious brain can process at the pace of 50 bits per second. The brain forgets/misses out on critical information. Forgetting to update a transaction entry, wrongly updating an entry, or discrepancies caused during the transfer of transactional information for account preparation could lead to major financial losses for a hospital and is time-consuming. Vikas 2.0 hospital pharmacy software manages the daily cash transactions and keeps the records up to date tallying data with the Accounts department.

Optimum Resource Utilisation: – A healthcare unit might have more than just one hospital pharmacy inventory, which implies more headaches for keeping track of the inventory stock, inventory management, human resources, etc. Vikas will keep a record of the stock, product margin analysis for suppliers and brands, which medicine is being sold the most, who is a constant vendor, whose medicines are sold the most, and much such information. This way hospitals can work on vendor selection and keep track of the stock. Even the number of employees employed to keep track of stock would be eliminated, thus saving costs.   

Error Reduction with hospital pharmacy software module

Risk AvoidanceDifferentiation of Medicines: – Often due to employee negligence and similar appearances of medicines, wrong pharmaceutical material could be given to the patients. This could harm the patient in many ways as well as puts the reputation of the hospital at stake. With Lookalike and sound alike alerts, employees would administer the right medicine to the right patient hence reducing medication errors.

Information regarding Classification under manufacturer, generic name, and chemical composition is provided by Vikas 2.0 pharmacy software, hence no scope of missing out on information.

Compliance: – Researchers have found out that healthcare managers in Africa fail when it comes to integrating patient information within a hospital and across their branches. A lot of time is wasted due to this reason. With Vikas 2.0 Hospital ERP software, this issue will be resolved as the system is fully web-based and hence can be accessed at any place at any time where an internet connection is available. Hence, it ensures statutory compliance.

Benefits of Hospital pharmacy software South Africa - higher revenues

Vikas 2.0 Pharmacy software module | Generate revenues | Vikas ERP for hospitals - India, Africa, Indonesia

From a financial viewpoint, efficient hospital pharmacy software & inventory management enhances gross profits and net profits by reducing the cost of procured pharmaceutical products and associated operational expenses. In addition, cash flow will improve upon saving on purchasing and storing less costly products.

Keep the Shelves Stocked and Prices Accurate – Empty shelves are extremely detrimental to a growing hospital pharmacy. Yet, poor inventory management can lead to the failure to replace important products. As such, it’s important for pharmacies to be able to pull items from back-stock to fill empty spaces, manage shelf space shelves, and make sure that every product gets reordered when stock gets low. What’s more, quality inventory management allows you to keep your prices in line with your labels and the figures in your POS system.  In short, a pharmacy’s inventory costs will have the greatest impact on its profitability. For every 1% change in the average pharmacy’s costs of goods, profits could change by 20%. 

Understand Key Sales Trends – Plain and simple, the more time and energy a business leader devotes to managing pharmacy inventory, the better they’ll be able to determine current sales trends. Naturally, this can then inform them how best to proceed in the future, and, subsequently, generate more ROI from their orders. So constantly reviewing hospital pharmacy software & inventory management choices is key.

Competitive Advantage with hospital pharmacy software

Vikas hospital ERP front office software enhances your competitive advantage

Real-time Visibility: The pharmaceutical department of any hospital always aspires to achieve a smooth medical distribution system. Our hospital pharmacy software facilitates the providers to know what is in their hands in real-time. The live tracking of the drug stocks in the store helps the management to keep their inventory in check and proceed with orders when in demand. This entails a reduction in the cost of holding stocks by maintaining just enough pharmacy inventory, in the right place and at the right time and costs to make the right amount of needed products. As the right decision-maker, the module provides a competitive advantage to the users.

Purchase Estimation: Forecasting the demand and sales is one of the successful parameters of any entity that may keep it from its competitors. Our Vikas 2.0 hospital pharmacy inventory module forecasts the pharmacy purchase by analyzing the outpatient consulting prescription pattern. This helps the provider to understand the sales pattern and enables pre-stocking and future orders. This eventually reduces the overstocking issue faced by 6 out of 10 hospitals in Africa. It allows the company to quickly and efficiently handle complex orders, with split batches and expiry dates. Using the pharmacy software, hospitals can increase fulfillment accuracy from 90% to 99% from their previous systems. This provides a competitive advantage for the providers. 

Automated Stock Refilling System: In Africa, the success of the pharmaceutical industry relies on delivering the right medicine, to the right people, at the right time. However, speed is worthless if stock levels and supplies are not maintained. Incorporating the Vikas 2.0 hospital pharmacy software into operations can help the pharmacies keep track of drug stocks. More than this, it can also refill (order) the drug stocks automatically, when they are available at the optimum level. By automating those processes, our inventory management software provides opportunities to create a sustainable competitive advantage and enhance the competitive position of the hospital. Pharmacy management software development is secured using an encrypted password.

Drug Vendor Preference: Generally in African countries like Congo, Cameroon, Ghana, Mali, Morocco, Niger, and Chad, hospitals prefer Chloroquine as the most frequently used drug for Malaria. They also prefer to buy it from regular and prospective vendors. Using Hospital pharmacy inventory software, they can order stocks from preferred vendors for medicines regularly. When a hospital prescribes and offers drugs from trustable brands, it increases the patient’s trust and loyalty. Brands with higher consumer loyalty face less competitive switching, thereby competitive advantage. Read about software for eye hospitals in Africa