Healthwise Pharmacy levels playing field for independents
Called HealthWise Pharmacy, the suite includes a specialty-at-retail pharmacy network, clinical solutions, consulting services, long-term care solutions, market intelligence, over-the-counter product merchandising and branding solutions, and a predictive ordering solution to optimize inventory.
“We know that independent retail pharmacies are in an extremely competitive market position,” Smith Drug president Jeff Foreman said in a statement. “With the launch of the HealthWise Pharmacy suite of solutions, we are working to give our customers access to services and tools that are not widely available to them anywhere else in the industry.
“We know from experience and research that these are the tools that can help ensure that our local, community pharmacies remain vibrant,” Foreman noted.
HealthWise Pharmacy Clinical Solutions helps improve retail pharmacies’ 5-star ratings. The program gives retail pharmacies access to partners and solutions that can provide a range of capabilities, such as medication synchronization for patients, outbound refill reminder calls, identification of patients who are “outliers” in terms of medication adherence, and data mining assistance that can improve the performance level of their pharmacy.
Through a partnership with a leading merchandising firm, HealthWise Pharmacy Consulting Solutions has a merchandising-360 element designed to ensure that pharmacies have the right products, in the right size categories, in the proper places in the front end and for the demographic mix of their communities, Smith Drug said. These solutions also help pharmacies optimize staff through the use of an algorithm, as well as to optimize workflow, systems and automation to maximize efficiency in the pharmacy.
HealthWise Pharmacy Specialty Network gives local retail pharmacies access to training and programs to provide their patients with specialty pharmaceuticals, customized to the individual patient, for diagnoses including cancer, multiple sclerosis, HIV, CID and others. Highly complex patient care is managed by pharmacists and technicians who have expertise in specialty pharmacy, while the patient stays with the pharmacy team they know and trust, Smith Drug noted.
Though analytics and predictive modeling are routinely used in large-scale retail to manage inventory, an in-house solution is typically beyond the ability of most independent retailers, according to Smith Drug. HealthWise Pharmacy Intuitive Purchasing System (IPS) provides a next-generation inventory optimization tool for retail pharmacy. IPS pharmacies will be able to determine how much and what type of inventory should be maintained so that products are readily available for patients as needed.
In addition, HealthWise Pharmacy Generic Solutions bring a proprietary generic prescription formulary. Smith Drug said customers taking advantage of this formulary have access to competitive pricing on quality generic products.
Managing a long-term care pharmacy requires specialized knowledge, not just of pharmaceuticals but also of the rules and regulations that must be followed. For community pharmacies looking to expand into the LTC arena or grow their current LTC business, HealthWise Pharmacy LTC solutions offer pharmacies access to experts in the LTC field, as well as access to leading-edge software, programs and services that enable them to establish an LTC pharmacy.
“We believe by offering our pharmacy customers these opportunities, patient care will improve,” Foreman added. “As an organization led by pharmacists, we understand the challenges in today’s pharmacy market, and our collection of HealthWise Pharmacy solutions helps our customers not only meet those challenges, but also to excel today and in the future.”
A division of J M Smith Corp, Smith Drug serves pharmacies in 23 states, the District of Columbia and the U.S. Virgin Islands through distribution centers in Spartanburg, S.C.; Paragould, Ark.; and Valdosta, Ga.