Economic evaluation of digital pharmacy platforms in reducing medication errors and operational healthcare costs

Inarumen Ohis Genesis *

Department of Management and Accounting, Obafemi Awolowo University, Ile Ife, Nigeria.
 
Review
International Journal of Science and Research Archive, 2021, 04(01), 311-328.
Article DOI: 10.30574/ijsra.2021.4.1.0177
 
Publication history: 
Received on 13 October 2021; revised on 23 November 2021; accepted on 25 November 2021
 
Abstract: 
The digital transformation of pharmacy services presents significant opportunities to enhance medication safety, reduce healthcare costs, and improve operational efficiency. Digital pharmacy platforms, encompassing e-prescribing systems, automated dispensing units, telepharmacy services, and clinical decision support tools, are being increasingly adopted across healthcare systems to address longstanding challenges such as medication errors, inefficiencies in drug distribution, and fragmented patient data. This study provides a comprehensive economic evaluation of digital pharmacy platforms, focusing on their effectiveness in reducing medication-related errors and optimizing resource utilization. From a macroeconomic perspective, medication errors account for a substantial portion of preventable harm and healthcare expenditure globally. These errors, often resulting from manual transcription, miscommunication, and lack of clinical context, lead to extended hospital stays, readmissions, and adverse patient outcomes. Digital platforms mitigate these risks through automation, real-time data validation, and integration with electronic health records (EHRs), thus improving prescribing accuracy and workflow continuity. The paper applies cost-effectiveness analysis (CEA), cost-benefit analysis (CBA), and budget impact modeling to assess the return on investment (ROI) of digital pharmacy implementations in both hospital and outpatient settings. It also explores indirect economic benefits, including reduced administrative burden, improved inventory management, and enhanced pharmacist productivity. Furthermore, case studies from multi-center health systems and rural telepharmacy programs are presented to illustrate how digital solutions contribute to healthcare equity and access. By quantifying financial and clinical outcomes, this evaluation underscores the critical role of digital pharmacy platforms in advancing safe, efficient, and economically sustainable healthcare delivery.
 
Keywords: 
Digital Pharmacy; Medication Safety; Cost-Effectiveness; Health Economics; Tele-pharmacy; Operational Efficiency
 
Full text article in PDF: 
 
Copyright information: 

Copyright © 2021 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0