Hospitals depend on pharmacy inventory management apps to cut costs

Hospitals increasingly are using pharmacy inventory management software to reduce inventory costs, but many are unsatisfied with the available applications, according to a new report from the KLAS research firm.

"Improving drug inventory management processes can have a significant impact by reducing inventory on hand and losses from expired medications," said Coray Tate, KLAS research director and author of the report.

While hospitals that used inventory management software said it was better than manual tracking, some complained about deficiencies in formulary database integration and the tracking of medication expiration dates and lot numbers.