A pharmacy can play a significant role in research and development of a hospital so as to come up with new medicines and cures for diseases and thus pose direct completion to pharmaceutical companies with cheaper medicines and other drug related products and small and simple surgical tools. The pharmacy here can provide effective analysis on the development of drugs. These drugs can then be tested on animals or patients in the hospital aiding to lower promotion cost of the developed drugs.
Besides, the most obvious effect of a pharmacy on operations management of a hospital is that it can be an additional source of revenue for the hospitals as the patients coming to the hospital are more likely to buy medicines from there. Plus it helps the doctors etc to get medicines quickly rather than having to go anywhere far to get medicines, drugs, or any surgical items they need. This will help speed up operations of the hospital by providing quick service to patients. To facilitate operations management, a pharmacy can evaluate and correctly interpret the complete medication order. To facilitate patient data and its analysis, a pharmacy can play a significant role in evaluation of patient record for potential interactions. This information can be communicated to health Care Professionals who would then accurately forecast demand for new medicinal products.
A pharmacist at a pharmacy can better transcribe telephoned orders and other medical information and also deal with buyers and suppliers in a professional manner. A pharmacist at a pharmacy can better advise a doctor on reviewing alternative courses of action, and making decision to resolve drug/therapy problems. Also a pharmacy can work with other departments and committees in the hospital to see what drugs are the most effective ones. The pharmacist has the understanding of drug quality specifications drugs to be procured as he can assess the reliability, price- value, and quality