The state of hospital pharmacies in 2024: 10 notes

In 2024, healthcare pharmacy executives are focused on standardizing their formularies and streamlining drug purchasing, according to 275 hospital pharmacy leaders surveyed by Bluesight

More than 60% of respondents have at least a decade of industry experience. 

Here are 10 notes from the survey, which Bluesight conducted in the first quarter of 2024: 


1. The top three tech initiatives for 2024 are controlled substance tracking technologies, IV prep tracking software and perpetual inventory management software.

2. Budget constraints are hampering software implementation for 73% of respondents, a decrease from 82% from the previous year. 

3. Three popular factors that result in budget approval: increasing patient safety, driving cost efficiencies and fostering revenue generation. 

Shortages and standardization

4. About 7 in 10 hospital pharmacy executives said streamlining pharmacy purchasing is an "important" or "very important" priority. 

5. In 2022, 85% of respondents said they were grappling with at least 10 drug shortages. In 2023, that figure dropped to 60%. There was also an increase in the number of leaders using new drug shortage software solutions, or a growth from 8% in 2022 to 25% in 2023. 

6. Nearly three-fourths of hospital pharmacy executives plan to standardize their formularies. 

7. A third of respondents said their organizations have a central pharmacy, a trending strategy for stocking multiple pharmacies. 

8. Compared to other hospital areas, drug inventory has low visibility in operating rooms, leaders said. 

Drug diversion

9. Sixty-six percent of leaders use a second-generation diversion solution, resulting in fewer hours in resolving variances. 

10. Eight in 10 respondents said their company has a group or committee focused on reducing drug diversion.

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