The Future of Pharmacy Science: Where Does Healthcare Operational Excellence Fit In?

From our cities and technological advancements to the products we use, we are constantly experiencing change in our everyday lives. This is particularly true in the healthcare and pharmaceutical industries. Even minor changes have an impact on patients, clinicians, and healthcare organizations as a whole. With changes on the horizon in the future of pharmacy science, you may be wondering: where does healthcare operational excellence fit into the picture?

When we think of healthcare operational excellence, our focus is on how healthcare organizations and services can be continuously improved. Whether these improvements are accomplished through automation, new technology, or waste-reduction methods, one thing is clear: industry leaders are responsible for making these improvements a reality. Luckily, with a master’s in pharmacy science: healthcare operational excellence (HOPEX), you can become that leader.

Key Takeaways

• Trends such as technological and scientific advancement, automation, and AI/machine learning are currently reshaping the future of pharmacy science.
• Healthcare operational excellence ensures that pharmaceutical organizations are continuously improving how they operate.
• Graduates of the HOPEX graduate program are well-equipped to guide organizations through turbulent times of growth and change.

How Is Pharmacy Changing? 3 Key Trends Shaping Its Future

With change comes breakthroughs as well as challenges. In the world of pharmacy science, however, change often brings remarkable improvements to healthcare systems and the patients they serve.

Big changes in the world of pharmacy currently stem from advances in technology and science. The development of cellular and gene therapies, for example, positively impacts patients with chronic diseases. While these treatments often have a greater up-front cost, they minimize the need for lifelong treatments that manage symptoms without curing the disease itself.

Another trend shaping the future of pharmacy is automation, a powerful force of optimization. By automating more routine tasks, such as simple communications and refill requests, pharmacy professionals can devote more time to more patients. Similarly, recent advancements in AI and machine learning may break new ground in data analysis and drug development processes.

Overall, the changes in pharmacy today reflect a patient-focused future, as well as a commitment to sustainable and ethical practices. Better yet, many current trends in pharmacy align with the principles of healthcare operational excellence—making this an opportune time to consider a career in the field.

What is Operational Excellence’s Role in Pharmacy?

According to the American Journal of Managed Care (AMJC), the U.S. outspends other developed countries in both drug and per capita pharmaceutical spending. Market competition, rather than government pricing control, determines drug pricing in the U.S. and makes the pharmaceutical industry particularly profitable. However, this means that increased attention must be paid to operational excellence in the pharmacy field.

When healthcare organizations optimize their budgets, staffing resources, and processes, they ensure that patients receive affordable care without sacrificing quality. This is where operational excellence plays a prominent role. Within the pharmaceutical industry, the focus areas of operational excellence include:

• Optimizing research and development processes
• Streamlining the pharmaceutical supply chain
• Reducing costs while delivering high-quality pharmaceutical products
• Prioritizing patient-centric and evidence-based care

Where Do Operational Excellence Professionals Fit in the Future of Pharmacy?

As more changes emerge in the future of pharmacy, the importance of operational excellence will only continue to grow. Health systems rely on skilled leadership and a strong vision to navigate these growing pains. Through UC’s online master’s in HOPEX program, students learn the skills needed to take the lead in these optimization efforts.

The goals of healthcare operational excellence professionals are straightforward: identify inefficiencies and eliminate organizational waste. However, these professionals take on a variety of roles to enact change at every level of the pharmaceutical industry. As a graduate of the HOPEX program, you’ll be well-prepared to succeed in a wide range of jobs, including:

• Healthcare Operations Manager
• Quality Improvement Specialist
• Healthcare Consultant
• Healthcare Executive
• Process Improvement Specialist

What Does This Mean for Pharmacy Professionals and Healthcare Leaders?

In times of change, there’s also an abundance of opportunity in the healthcare industry. For current pharmacy professionals and healthcare leaders, shifting your area of expertise promises career growth and increased earning potential. Better yet, you become poised to make an impact on the organizational level and in the lives of patients.

Don’t wait for the future—jumpstart your career in healthcare operational excellence through the University of Cincinnati. If you have more questions, contact an Enrollment Advisor and get personalized answers based on your needs and goals. UC’s dedicated online staff is here to help!

Seamlessly Earn Your Master’s in Pharmacy Science: Healthcare Operational Excellence Online

A master’s in HOPEX provides you with the tools you need to face the future of pharmacy head on. The 100% online curriculum combines mastery of biostatistics, pharmacoeconomics, and Lean Six Sigma methodologies with electives that allow you to specialize. Another core focus of the program is the Pharmacy 5.0 framework, which prioritizes adapting technology to improve efficiency and patient outcomes.

The program coursework covers topics that have never been more relevant for pharmacy professionals, such as:

• Artificial intelligence and machine learning
• Accounting and financial decision-making for pharmacy leaders
• Quality control
• System engineering and more

With a master’s degree in HOPEX, you can lead the charge toward a better future in pharmacy. Best of all, you can get your education entirely online in as little as 2.5 years. Change doesn’t have to be scary. If you’re ready to take the next step in your career, apply for HOPEX today!

Frequently Asked Questions (FAQ’s)

How can artificial intelligence (AI) and machine learning be utilized in the future of pharmacy?

Studies have already demonstrated the feasibility of using AI technology in adverse event reporting as well as in clinical trials. In both cases, AI may be able to decrease side effects and improve clinical services on a large scale!

What is Lean Six Sigma?

Lean Six Sigma is a process improvement methodology that integrates Lean principles (focused on waste elimination) with Six Sigma techniques (focused on variation and defect reduction). The overall goal of Lean Six Sigma is to improve customer satisfaction, making it transformative for patient care.

What is Pharmacy 5.0?

Pharmacy 5.0 is a patient-centric framework for approaching healthcare operational excellence. Like Lean Six Sigma, it is at the heart of the HOPEX degree program!