Throughout the healthcare industry, change is occurring at a rapid rate, as medical research and technology continue to have a big impact. Pharmacy is no exception, as drug research and information technology will continue to rework how pharmacists deliver care. Here are some of the changes expected in 2018.
Disruption of the supply model
E-commerce companies like Amazon are moving into the pharmaceutical industry, along with other online healthcare companies, all of which has the potential to make big changes in the way medications are delivered and dispensed, providing same-day delivery, cost savings, and changes to prescribing and compliance. How these changes will play out has not yet come into sharp focus, but what is clear is the retail pharmacy industry will become more competitive.
Specialty drug market growth
Revenues of specialty drugs will continue to outpace traditional brand-name drugs. Over the next four years, revenues from specialty drugs are expected to account for more than 40 percent of all revenue.
Advances in genetic testing will enable pharmacies to offer more personalized healthcare, such as the best medications to use based on a person’s genetic makeup.
Using big data
Big data is becoming more commonplace among businesses, and its influence will be felt in healthcare as well. Using predictive modeling, big data can be used to determine the likelihood of someone adhering to their medication schedule.
In the future, big data will be able to provide information in real time that pharmacists can use to help increase medication adherence rates.
The growth of self-care
As medical costs continue to rise and access to primary care physicians becomes more difficult, patients will continue to look for ways to treat conditions themselves. They will do this through exploring different medication options, especially over-the-counter drugs. Pharmacists can play an important role here by guiding patients in the best choices of medications and when they should seek the services of a physician.
The growing presence of artificial intelligence
As computing power increases with artificial intelligence, we will be able to integrate more patient data with smart machines, enabling better and more timely decision making about patients’ healthcare.
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