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The Future of Long-Term Care Pharmacy: AI, Automation & New Revenue Models | SuiteCast

Pharmacy Podcast Network

37m
Transcript

Original podcast

Summary

Written by a model from the transcript; not yet reviewed.

This episode of SuiteCast features pharmacy growth strategist Dr. Thomas Hansel discussing the future of long-term care pharmacy, artificial intelligence, automation, and emerging revenue models with the host. The guest and host examine how demographic shifts, specifically the aging senior population, require pharmacies to modernize operations, expand beyond traditional dispensing, and diversify revenue streams away from pharmacy benefit managers. They explain how artificial intelligence and advanced front-end platforms can reduce manual burdens on pharmacists, enabling them to operate at the top of their license and deliver comprehensive home-based care. Listeners will gain practical insights into navigating margin compression, leveraging real-time data APIs, and seizing new growth opportunities in long-term care at home.

  • Long-term care pharmacies should focus on controlling labor costs and utilizing automation to free staff from mundane tasks. 13:26
  • Pharmacies must demand unbridled, real-time access to their data through modern APIs rather than relying on outdated static files. 20:16
  • Diversifying revenue streams outside of traditional PBM dependence is essential for combating ongoing profit margin declines. 29:15

Highlights

  • 10:53

    Navigating AI Industry Buzzwordsinsight

    The guest warns pharmacy owners not to be misled by companies merely slapping the AI label on products without genuine operational value.

  • 11:50

    The Margin Battle and Labor Costsinsight

    Pharmacies face severe margin pressure from falling reimbursement and rising labor costs, making operational efficiency paramount.

  • 13:01

    IRA Impact on Profit Marginsdata

    The guest explains that the Inflation Reduction Act is causing an estimated twenty to twenty-five percent decrease in profit margins for long-term care pharmacies in 2026 alone.

  • 17:03

    Senior Population Growth Demographicsdata

    By 2030, the senior population will peak around seventy-three million, with ninety-eight percent living outside institutional settings like skilled nursing or assisted living.

  • 21:38

    APIs Versus Static Data Filesinsight

    The guest compares traditional HL7 flat files to Polaroid photos, contrasting them with modern real-time bidirectional APIs that offer interactive data access.

  • 27:52

    Expanding Into Home Care Servicesstrategy

    The guest and host discuss how forward-thinking pharmacies are creating separate divisions to offer home care, remote patient monitoring, and durable medical equipment.

  • 29:10

    Diversification Outside PBM Controlstrategy

    The guest emphasizes that building revenue streams independent of pharmacy benefit managers allows pharmacies to act as holistic healthcare providers.

About this episode

Thomas E. Hanzel joins host Todd Eury to discuss how AI, automation, data access, and emerging at-home care models can help long-term care pharmacies improve efficiency, expand patient care, and diversify revenue. Host: Todd EuryGuest: Thomas E. Hanzel, PharmD, MBA

Transcript

0:00
37:26

5,945 words · 4 speakers

Topics

  • Long-Term Care Pharmacy
  • Pharmacy Automation
  • Artificial Intelligence
  • Revenue Diversification
  • Senior Healthcare
  • Pharmacy Technology
  • PBM Reform

Page updated · transcript and summary are machine-generated