2024 Technology Trends

As we look ahead to 2024, the pharmacy landscape is poised to undergo transformative changes driven by technology.

Automation is expected to be one of the major pharmacy technology trends next year. Automating mundane tasks means that pharmacists will have more time for patient care and can focus their attention on activities that are more complex and require their expertise. Automation also improves accuracy, as it eliminates manual errors and can process large amounts of data quickly.

Robotics is also expected to be a major trend in 2024. Pharmacy robots can be used to improve accuracy and efficiency, as they are able to quickly fill prescriptions and detect errors. This technology can help reduce wait times for patients, while providing accurate medication management for pharmacists.

The use of electronic health records (EHRs) is expected to become more widespread in 2024. Since EHRs store all patient information in a digital format, it makes it easier for pharmacists to access and share data with other healthcare providers. It also eliminates paperwork and reduces the need for manual entry, which can lead to fewer errors. By implementing EHRs, pharmacies can be better prepared to provide quality care for their patients.

Point-of-care testing (POCT) will also be a major trend in 2024. POCT allows pharmacists to quickly and accurately diagnose illnesses, such as diabetes or HIV, enabling them to provide more timely treatment options. POCT is also becoming increasingly cost-effective, allowing pharmacists to provide more services to their patients.

Then there’s wearable technology, which is expected to become more prominent in 2024. Wearables can track a patient’s vitals and medication intake, alerting them of any potential issues or adverse drug reactions. This data can be used by pharmacists to provide better care and monitor the effectiveness of treatments. Wearables also offer convenience for patients, as they can be worn throughout their day-to-day lives.

Larry King, Pharm.D., director, product safety & performance for Surescripts, which has more than 60,000 pharmacies connected to its network with more than 2.34 billion e-prescriptions filled using this technology in 2022 alone.

“Creating efficiencies by eliminating time-consuming phone calls and faxes for clinicians and connecting pharmacists with physicians to strengthen patient care teams is becoming ever-more critical,” he said. “Surescripts’ technology is helping to simplify clinical information sharing and tools like Surescripts Clinical Direct Messaging will help bridge gaps in care by allowing clinicians to reliably send and receive information—such as immunization records—across multiple care collaboration scenarios within their existing workflows.”

Jason Gasper, chief commercial officer at OrderInsite, which offers technology and insights for pharmacists to better manage and monitor prescription drug inventory, noted the pharmacy industry continues to evolve and that is expected to continue into 2024 with more pharmacists utilizing technology, AI, and machine learning to help automate processes, inform decision-making and drive efficiencies.

“One of the biggest challenges pharmacies will continue to face is the impact of GLP-1 drugs on the GCR (Generic Compliance Ratio),” he said. “The GCR is influenced by various factors, including prescriber preferences and market trends. With the influx of GLP-1 drug availability and ongoing drug shortages, pharmacists must re-examine GCR to determine purchasing strategies and evaluate the profitability of their pharmacy’s offerings within the broader context of their relationship with pharmaceutical wholesalers.”

Susanne Casper, CEO of Linnea SA, a global active pharmaceutical ingredient (API) producer, noted new technologies are helping to make botanical extracts more effective and accessible for a variety of applications.

“Nanoencapsulation is a promising technology for improving the delivery of active ingredients from botanical extracts,” she said. “It involves encapsulating the active ingredients in a nanoscale carrier, which can protect them from degradation and improve their absorption into the body.”

As we enter 2024, pharmacies will have additional choices for drug returns as new competitors enter the market. This could help pharmacies in terms of negotiating power on contracts; however, it comes with an increase in complexity for managing those contracts efficiently.