Find stats on top websites
Industry Landscape
The healthcare technology industry, particularly in pharmacy management and clinical services, is experiencing significant growth. It's driven by the need for operational efficiency, improved patient outcomes, and expanded clinical roles for pharmacists. Interoperability, data security (HIPAA), and value-based care models are key trends shaping its evolution, pushing for integrated solutions that connect pharmacies, payers, and pharma.
Total Assets Under Management (AUM)
Number of Retail Pharmacies in United States
~Approximately 60,000 retail pharmacies (independent and chain stores) in the US
(-0.5% (slight decline in number of physical pharmacies, but growth in services) CAGR)
- The total number of retail pharmacies has slightly decreased in recent years due to consolidation.
- However, the scope of services offered by pharmacies is rapidly expanding.
- Growth is seen in clinical services, technology adoption, and specialty pharmacy.
Total Addressable Market
100 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI & Machine Learning in Pharmacy
AI and ML can revolutionize pharmacy operations by automating prescription verification, optimizing inventory, personalizing patient care plans, and predicting drug interactions or adherence issues.
Blockchain for Healthcare Data
Blockchain technology can enhance data security and interoperability in healthcare by creating immutable, transparent records for prescriptions, patient histories, and supply chain management, ensuring HIPAA compliance and reducing fraud.
Telehealth Integration & Remote Monitoring
Advanced telehealth platforms and remote patient monitoring devices can expand pharmacists' reach for clinical services, enabling virtual consultations, medication adherence checks, and real-time health data collection for proactive interventions.
Impactful Policy Frameworks
CMS Medicare Part D Modernization (2023)
The Centers for Medicare & Medicaid Services (CMS) is modernizing Medicare Part D to lower prescription drug costs and improve program access, including provisions for pharmacists to be reimbursed for certain clinical services.
This policy directly creates new revenue opportunities for pharmacies by formalizing reimbursement for clinical services, enhancing the value proposition of Outcomes' clinical platforms.
Information Blocking Rule (21st Century Cures Act, 2021)
The ONC's Information Blocking Rule prohibits healthcare providers, IT developers, and health information exchanges from engaging in practices that interfere with the access, exchange, or use of electronic health information (EHI).
This policy mandates greater interoperability and data sharing, pushing Outcomes to ensure seamless integration and data exchange capabilities across its pharmacy, payer, and pharma platforms.
Expansion of Pharmacist Provider Status (State-level Initiatives, ongoing)
Numerous U.S. states are passing legislation to formally recognize pharmacists as healthcare providers, enabling them to bill for a broader range of clinical services beyond traditional dispensing.
This ongoing regulatory trend empowers pharmacies to expand their clinical roles and revenue streams, directly increasing the demand and value for Outcomes' MTM and clinical services platforms.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
