What’s Next for LTC Pharmacy? A Preview of Emerging Trends in 2024
Summary: In this article, we cover emerging trends in long-term care (LTC) pharmacies for 2024, including increased use of automation, exploration of artificial intelligence, expansion of pharmacist roles, emphasis on medication management, adaptation to regulatory changes, and a focus on LTC services at home.
Table of Contents:
1. Increasing Use of Automation
2. Exploring Artificial Intelligence
3. Expanding Role of LTC Pharmacists
4. Focusing on Medication Management
5. Adapting to Regulatory Changes
6. Increasing Focus on LTC at Home
Just a few months into 2024, it’s already clear that it will be a transformative year for long-term care (LTC) pharmacies. Rapid technological advancements and industry-wide shifts are paving the way for a new normal—and we’ll likely see many new trends emerge this year as a result.
Let’s preview what’s next for LTC pharmacies in 2024 and beyond:
1. Increasing Use of Automation
In recent years, nearly all LTC pharmacies have embraced some form of workflow automation to help pharmacists and technicians reduce manual work, improve efficiency, and ensure dispensing accuracy. Automating workflows enables LTC pharmacists and technicians to do more with less cost, less time, and less risk.
For the remainder of 2024, we’ll see this trend continuing. Pharmacies that aren’t yet using automation will get on board. Others will become savvier, finding new tasks to automate and new ways of saving time and money with the right pharmacy technology.
2. Exploring Artificial Intelligence
Over the course of 2024, LTC pharmacy stakeholders will begin exploring the use of artificial intelligence (AI), machine learning, and robotics. AI is not sophisticated enough to replace the role of a trained human pharmacist; however, innovations and advancements are growing at an accelerated rate.
Predictive analytics, automated handoffs, and transcoding are all areas that will likely make their way to the healthcare software space over the next few years. While a focus on patient outcomes and government regulations will slow down the adoption of AI in LTC pharmacy software, our team is still carefully considering and exploring opportunities to implement rule-based automation and predictive analytics into our solution set to further automate processes within the pharmacy.
3. Explanding Role of LTC Pharmacists
The role of the LTC pharmacist is evolving, and this year we’ll see that evolution continue. More and more LTC pharmacies are expanding their offerings, providing new services like in-facility vaccinations for COVID-19, RSV, and influenza.
Many are also offering point-of-care testing and treatment for certain illnesses, such as strep throat. This sort of team-based approach to care helps combat physician shortages and reduces emergency room and urgent care utilization, while also positioning LTC pharmacies as even more valuable partners for their facility customers.
4. Focusing on Medication Management
LTC pharmacies are putting a greater focus on medication management and taking a more comprehensive approach to ensure residents’ regimens are safe, effective, and appropriately tailored to their health needs.
Comprehensive medication management involves regular consulting pharmacist reviews, pharmacy consultations to identify and resolve medication-related problems, and increasing collaboration and communication between pharmacists and prescribers. We’ll also see increasing use of compliance packaging, electronic medication administration records, and medication synchronization programs to improve adherence.
5. Adapting to Regulatory Changes
Pharmacies are certainly not strangers to regulatory changes, and the long-term care pharmacy space is no exception. This year, LTC pharmacies will focus on preparing for and navigating upcoming regulatory changes, such as the new Drug Supply Chain Security Act (DSCSA) electronic prescription tracking system and the elimination of Direct and Indirect Remuneration (DIR) fees.
And then there’s the political landscape: LTC pharmacies will also need to adapt to whatever changes the upcoming presidential election brings. No matter what the outcome, the election could impact LTC pharmacies at both the state and federal levels—and pharmacy owners will need to be ready to pivot quickly as a result.
5. Increasing Focus on LTC at Home
Recently, there has been an industry transition to servicing more LTC patients in their own homes. This has come as a result of new minimum staffing standards mandated by the Centers for Medicare & Medicaid Services which more than 75 percent of LTC facilities will need to add additional staff to meet. Other factors include a shortage of facilities and an increasing number of LTC patients who want to receive care at home.
As they begin offering LTC at-home services, pharmacies will need a plan that focuses on addressing new challenges, such as delivery to individual residences, communication with caregivers, use of technology, and more.
Keeping Up With LTC Pharmacy Trends
Keeping up with emerging trends will be important for LTC pharmacy owners looking to acquire and retain facility customers, maintain a competitive edge, and deliver exceptional customer service and patient care. Need help keeping up with and navigating these trends? Subscribe to our blog and check out our podcast for insights on all things LTC pharmacy.