RPA is the key!
A key to success. A key to pour the magic. And a key to bring peace of mind into the ecosystem.
Unlike others, this entire article is beyond just information. It is an experience!
First thing first, we were not familiar with the real-world scenario of RPA in the pharmacy business. We only aware of its internet-based information.
But almost a month ago, one of our team members told us about it.
She shared a journey of how her cousin saved almost 70% of the time for the data-entry process.
So, we have decided to communicate with her cousin in order to understand every ins and outs of the RPA.
And here is what we encountered.
- It opened endless possibilities to thrive.
- Helped to focus on the outcome. Not in the process.
- Allowed to add value to customer satisfaction
- Saved time, costs, and resources
Means, it transformed the entire ecosystem with ease.
So, in this blog, we are going to share how RPA in the pharmacy business is a way to bring change to the ecosystem.
First, let’s understand the RPA in the true sense!
RPA stands for Robotic Process Automation.
It is a robust tech solution that helps business or enterprise to automate their computer-based repetitive tasks just like Tesla!
RPA performs tasks the same as humans but in a more effective, efficient, and faster manner.
But does the pharmacy business really require RPA?
Undeniably yes!
Tons of repetitive workload is something that restricts the pharmacy business to thrive at a rapid pace as it is time-consuming and error-prone.
RPA shatters all the obstacles without compromising resources, costs, and time.
It helps the staff members to focus on the meaningful areas of the organization that need improvement or attention.
That’s the reason, the RPA solution market is growing at a tremendous rate.
As per Grand View Research, “The global RPA market size was valued at USD 2.32 billion in 2022 and is expected to reach USD 30.85 billion in 2030”.
RPA in pharmacy business: How is it elevating the enterprise?
RPA automates both front-office and back-office repetitive tasks.
Here are its use cases.
- Automatic notification or alert
- Reports analyzing and document filling process
- Automate scheduling procedures
- Streamline and accurate data transfer between two systems
- Enhanced and insightful reporting creation
- Creates documents precisely
- Ensures data compliance
- Data-entry process
- Speeds up the clinical trial process
- Automating supplier onboarding to eliminate errors and ensure compliance at the same time
Areas in which RPA is bringing peace of mind!
The pharmacy business is experiencing the true potential of the RPA in almost every corner of the ecosystem such as,
1. Clinical trial management
- Patient matching procedure
- Upload data automatically in TMF (Trial Master File)
- Extract data directly from the PDF or image with RPA solution and OCR (Optical Character Recognition)
2. Supply chain and inventory management
- Real-time inventory management
- Comprehensive supply and demand planning
- Billing and invoice management
- Purchase and order management
- Returns and refunds process
3. Drug sales
- Predicting future sales
- Creating a more effective and promising sales planning
- Data gathering, management, and implementation along with a comprehensive analysis
4. Human resource management
- Expense management
- Travel and time record management
- Employees master data management
5. Compliance and regulatory needs
- Access and compile the data
- Maintain data in an efficient manner
6. Administrative tasks
- Auto-refill process
- Patient data management
7. Medical billing and invoicing
- Extracts the data from the PDF or image
- Send invoices and track payments
- Automate recurring invoices
The importance of RPA implementation in the pharmacy business
The image speaks for itself.
RPA opens a vast number of doors for the pharmacy business to achieve enterprise goals without adding any complexity.
- It reduces the possibilities of life-threatening and costlier medical errors.
- Lowers the work burden of the pharmacy staff members
- Enriches the productivity, operational efficiency, and effectiveness
- Faster and accurate customer service
- Lowers the operational and resource costs
- Boost the ROI
The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.
Bill Gates
RPA is leading the way to transform the pharmacy business approaches from tedious to peace of mind.
On a crucial note, a selection of the right RPA tool is important in order to get the best results.
For instance, UiPath is one of the most popular RPA tools across the globe.
So, we have done comprehensive research on it and came up with two real-world case studies that will help you understand how RPA in the pharmacy business is a key to success.
Explore the 2 case studies to comprehend the potential of the RPA in the pharmacy business
#Case study – 1: Thermo Fisher Scientific
Concern:
- Managing payments and 824,000 invoices per year was a tedious and complex procedure
- Extracting the data from the large-scale PDF files and doing the data-entry process manually
- They are tired of the manual, repetitive, and time-consuming tasks
RPA was the only feasible solution they encountered!
With UiPath, the company shattered all the obstacles that are restricting them to focus on the key areas of the organization.
Result:
- Reduce the invoice processing time up to 70%
- 85% accuracy in the data collection process
- Zero human intervention in almost 53% of all invoices
Explore the entire case study: Automating invoice process
#Case study – 2: Covestro AG
Concern:
- Time-consuming sick leave certificates processes
- Manually Comply with government regulations on a daily basis
- Processing time was 7 minutes per 1 sick leave
UiPath was there to help!
With the help of AI (Artificial Intelligence) & RPA, it helped Covestro to streamline the sick leave certification process.
Result:
- 95% accuracy
- 50% straight-through processing
- 85% reduction in time
- Just need to review the output which takes 1-2 minutes
Explore the entire case study: Streamlined repetitive HR processes
This is how RPA is helping businesses to thrive in the most efficient and effective way.
Final words
RPA allows businesses to focus on areas that matter the most.
With AI, RPA, OCR & pharmacy app development, the possibilities are endless for pharmacy businesses to thrive without any hassle.
But remember, selecting the right tech solution is essential in order to not let your guard down in this competitive market. So, focus on the outcomes. Not on the problems!
