The retail pharmacy industry is rapidly changing and those who embrace digital tools for improved engagement and medication adherence can have a competitive advantage and improve patient outcomes.
The retail pharmacy industry is changing—from digital engagement options to eco-friendly initiatives to the evolving role of the pharmacist. It’s clear that those who adapt sooner can gain a competitive advantage, and those who don’t may be left behind.
At the 2024 Total Store Expo in Boston, a key theme was the future of retail pharmacy as an essential member of the community. To understand the industry further, our Wolters Kluwer team invited booth attendees to fill out a short survey on how they’re preparing for the future of pharmacy1. The survey results shed light on how pharmacies are moving forward—and whether they have a plan to do so.
Digitizing medication information and patient education
One of the biggest transformations undergoing retail pharmacies is the shift toward digitally accessible medication information and patient education. While QR codes have been in use for years, the COVID-19 pandemic spurred more widespread adoption with consumers in restaurants and marketing, enabling pharmacists to start providing digital health information for patients instead of lengthy, costly printouts. Additionally, with digital medication information and educational materials, the information can be regularly updated as new evidence or recommendations arise.
But adoption is currently on the slower side—the survey indicated 81% of participants are using paper drug information either a majority of the time (43%) or entirely (38%), with just 19% saying they use digital tools like QR codes or links. While it’s likely that some will always prefer printouts, having multi-channel options will be crucial in helping patients stay informed about their medication in their preferred medium, and this flexibility can help attract or retain customers.