Pharmacies and Dispensaries

Inventory control is critical because medication, especially specialty medication, is expensive. You really don’t want to sit with a stockroom full of high-priced meds and no market to speak of. On the other hand, you don’t want to constantly run out of meds in high demand because your customers will go elsewhere.

We design software systems that are based on a robust ERP platform (typically Sage Intacct). From this, we integrate sales and stock data directly into your financial software. Automation and smooth data flow eliminate manual processes, like importing spreadsheets, significantly improving accuracy and efficiency.

For example, your software includes tailored analytics that provide weekly data related to sales and stock performance by store and by region. You can see exactly what your stock levels are and can adjust resource (budget) allocation if necessary.

Your outsourced team, including bookkeepers, controllers, and CFOs, carries out detailed margin analysis to improve visibility across entities, so you can identify waste, optimize reordering, and maintain profitability across product lines.

Yes, it can. Manual systems can’t give you the depth of information you get from a well-designed cloud-based financial system. What’s more, the data you do get is usually a month out of date.

Our software solutions are fully integrated and automated, enabling you to consolidate financials across all facilities in minutes, as opposed to weeks. Automation includes inter-entity transactions, so you can see what’s happening between locations.

In fact, you can drill down into specifics, for example, you can group facilities by region or type. This enables you to compare performance side-by-side and generate reports that provide instant visibility into your entire chain.

Clunky manual processes often delay insurance claims processes. This hinders your cash flow, making it unpredictable and giving you sleepless nights. Our cloud-based financial systems constantly monitor claims processing, identifying bottlenecks in the revenue cycle and tracking delayed payments.

Advanced accounting software enables you to set up the system to analyze reimbursement trends and pick up denial patterns. When you understand what’s happening, you can work with your dedicated consultant to rectify the problem and implement revenue recovery measures.

You’ll find that this relatively simple function plays a big role in reducing days in accounts receivable (AR). And this improves cash flow across your entire organization. The upshot is that you have the resources on hand to operate effectively.

Yes, it is. Pharmacies are inherently dependent on sensitive patient data. Without it, they simply can’t operate. This makes data protection extremely important and compliance with data protection regulations non-negotiable.

Our preferred ERP platform, Sage Intacct, comes with an Advanced Audit Trail and security safeguards that are certified HIPAA and HITECH-compliant by an independent third-party called Avertium.

Data protection features enable you to monitor access to Protected Health Information (PHI) and create role-based authorization protocols. So, only people with the correct access details can log in and use data specific to their roles within the organization.

This bank-level security ensures you meet strict regulatory requirements and provides your financial management system with the tools needed to support and maintain your compliance efforts.

Yes, you can. We excel at integration and ensure it’s at the heart of most of our financial software solutions. What this means for your pharmacy (or chain of pharmacies) is that we implement smart and cost-effective integrations that connect your retail website and POS system directly to your accounting software.

Here’s a quick example: Stock prices can be fed to the website from inventory control, so online shoppers know if you have sufficient stock for their needs. Automation ensures that online orders create sales orders immediately, which is far more efficient (and accurate) than manual systems.

Basically, syncing finance and sales data reduces (human) errors, saves time, and improves efficiency. This is great for productivity, performance, and profitability.