National Pharmacy Association (NPA) and RWA Pharmacy have teamed up to launch "Independents + Insights", a business intelligence tool to help England’s independent pharmacies.
The new tool will provide pharmacy data in easily digestible formats, and pharmacies will have real-time access to valuable data insights and actionable intelligence.
Independents + Insights provides a comprehensive view that integrates many fundamental data sources for independent pharmacies, such as patient medication records (PMR) data, services data, NHS data, and live drug tariff tracking.
This will help pharmacy owners make informed decisions and have better visibility of their business.
The tool's reporting facility will help customers receive automated, comprehensive weekly, monthly, and on-demand reports through a secure login.
Its actionable insights will help businesses identify hidden opportunities and growth potential.
Independents + Insights can anticipate needs and trends by using patient tracking reports and keep tabs on cash flow by providing the monthly claims report.
NPA commercial manager Nick Sullivan said Independents + Insights will help independent pharmacies lighten their workload in these difficult times.
He pointed out that community pharmacies are under strain and "closures are happening at an alarming rate and staff are overworked."
RWA Pharmacy COO Adele Curran said Independents + Insights will be a game changer for independent pharmacy owners.
“We understand the complexity of their businesses, and the realities faced with tight margins, drug tariff changes, losses due to unclaimed scripts and time pressures," she said.
The new business intelligence tool will help independent pharmacies "visualise their data like never before and put it into action", she added.