Automation, AI, and robotics are impacting almost every area of our personal and professional lives, but the pharmaceutical industry has been changed almost beyond recognition.
From the digitisation of patient records to automated re-ordering of stock, robots are taking the place of humans in just about all areas of operation, leading to great chasms between businesses that have embraced automation and those that have dragged (or firmly planted) their feet.
A pharmacy robot can overhaul your organisation’s workflow in remarkable ways, including but not limited to the automation of:
While making up one tray of medication may take a human half an hour, a robot can complete the same task in as little as 3 minutes or make pouches of medication for 50 patients in the time it would take a human to complete 10. The gains in terms of efficiency can be incredible.
Of course, there is an argument that errors can never be completely avoided, and robots are only as effective as their controllers, but by reducing the level of human involvement in the dispensing process, accuracy can be greatly improved.
The big bonus of using robot is of course the fact that they don’t need to take breaks, holidays, or become disillusioned with repetitive tasks.
On average, a pharmacy robot is likely to cost between £50,000 and £500,000 to purchase outright. The savings that these machines can bring, however, can more than cover their cost within a few years, which is why many pharmacies choose to lease rather than use working capital.
Buying a pharmacy robot outright is likely to leave a sizeable dent in any pharmacy’s bank balance leading to cash flow issues, which is why many are choosing to finance the purchase instead.
Financing the cost of investment through a lease or Hire Purchase can help you spread the cost over time via affordable, fixed-rate payments. This enables you to access the equipment that you need to improve your operation, streamline efficiency, and improve the customer experience, without being delayed or hindered by budgetary constraints.
The returns on your investment (thanks to improved efficiency and productivity) can be put towards the finance repayments, and with the capital that you keep in your organisation, you can invest in growth or keep in the bank to boost your cashflow.
In addition, by financing the purchase rather than paying in cash, you may be able to:
In addition to pharmacy robots, Bluestone can also arrange flexible and bespoke finance solutions for other assets and projects.
Asset finance can enable pharmacies to install or upgrade EPOS software and hardware solutions including software packages and POS devices. These solutions speed up the customer service/sales process, order stock, improve stock control and ordering cycles, reduce wastage, automatically update C&D data, introduce promotional offers, print labels, change prices, process card transactions, and manage multiple pharmacies from one dashboard.
The interior of your pharmacy needs to give your patients the right impression. What are they likely to think of your approach to service if your flooring, lighting, furniture, signage and/or displays are tired or broken? Bluestone specialises in the financing of complex interior fit-out and furniture projects that include everything from paint and labour costs to structural changes.
Purchasing a pharmacy space or making changes to an existing site e.g., creating a private consultation room, require significant investment. These investments can be made using both secured and unsecured finance arrangements.
If building a new room or adding an extension is not a viable option, you might consider installing a privacy pod or small meeting space in the pharmacy that will give your patients somewhere to discuss more sensitive matters.
Whether looking for controlled drug cabinets, refrigeration or simple racking, these assets can be included in a finance agreement.
We pride ourselves on being specialists in asset finance. With over 25 years of experience in interiors, including a wide range of retail spaces and pharmacies, you can trust that your finances are in good hands.
We take a consultative approach to our relationships and making sure you have all the information you need, whether finance is the right solution for you or not, is important to us.
Contact us today to discover what finance could do for your pharmacy.
Got a question about this article? Complete the form below to send us an enquiry and a member of our team will get back to you asap!