Pharmacy Automation Budget
While most hospital pharmacies maintained or increased their automation budgets this year, budget cuts did impact just over one-quarter of all facilities. Much of these reductions can be attributed to the challenges of launching and maintaining an effective pandemic response; fortunately, most facilities expect their automation budgets will bounce back shortly and expand to meet growing needs.
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While budget reductions continue to impact a minority of pharmacies, this year saw a continuation of last year’s notable uptick in the number of pharmacy departments facing budget reductions.
The challenge of addressing reductions is not concentrated in any one facility size; rather, facilities of all sizes have been forced to address decreased budgets over this past year.
Fortunately, the trend of expanding budget decreases is projected to end this year with this change holding true across all facility sizes. Next year, the vast majority of pharmacies (78%) expect to maintain or increase their allocated funds.
Over the longer term, budgets are projected to return to normal funding levels; 65% of all facilities expect to see budget increases over the next 3-5 years, while just 13% expect to see cuts.
While an increasing number of pharmacies rely on the EHR functionality to perform financial integrity functions, there are also a wide variety of standalone software products available.
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While there are clear patterns in the budgets of the largest and smallest facilities, there is a wide variety in the automation budgets for mid-sized facilities.
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