Bristol-based Titan PMR, a technology firm specialising in PMR systems for community pharmacies, is set to roll out an innovative platform named ‘Titanverse,’ that it claims will redefine pharmacy management, offering comprehensive solutions extending beyond prescription management.
This new platform takes a versatile approach, efficiently managing all facets of pharmacy operations, from high-level management down to daily tasks, according to top company officials.
"Our aim is to reshape pharmacies into genuine health hubs, providing advanced services and harnessing state-of-the-art technologies," said Tariq Muhammad, CEO of Titan PMR. "Titanverse, our latest offering, is positioned to ignite this transformation, revolutionising clinical services in the same way its predecessor revolutionised dispensing. With Titanverse, we have the vehicle to drive this vision forward, placing pharmacies at the forefront of primary care in the future."
Titanverse adopts a Teams approach, catering to pharmacies with multiple locations or specific focuses. It furnishes real-time analytics and employs a color-coded rating system for swift performance evaluation.
Moreover, the platform eases operations by enabling task delegation, encompassing clinical checks and dispensing, all while backing private services with adaptable templates and workflows.
“A pivotal feature includes a web-based interface employing a map design, enabling pharmacies to be visualised and seamlessly integrated with vital statistics and analytics,” said Wahid Muhammad, CTO of Titan PMR. “Within this platform lies a command centre, empowering pharmacy owners to remotely oversee a spectrum of operations, encompassing clinical, operational, financial, and efficiency-related tasks.”
Navigating hurdles
Unlike typical businesses, pharmacies operate in a system where there is predominantly only one customer, the NHS, which sets the price they're willing to pay for goods and services. This absolute control holds the pharmacy sector to ransom, and although good value for taxpayers, poses a significant challenge for pharmacies.
“Not only do we lack control over what we get paid, but we're also at the mercy of suppliers who employ convoluted pricing structures,” Tariq said. “This lack of transparency leaves us navigating a complex web of costs, often resulting in inconsistent profitability.”
Moreover, pharmacies seem to serve as a temporary fix rather than receiving substantial funding and support from the NHS. “We receive a patchwork of funding announcements to keep things running, but when it comes to budget cuts, pharmacies are often the first in line,” he added.
Tariq said this trend has persisted over the years, painting a bleak picture for the future of pharmacies. “The industry faces constant financial strain, making it increasingly challenging for pharmacists to sustain their businesses,” the Titan CEO said.
Similarly, primary care, which should ideally revolve around patient-centred care, often gravitates towards prioritising doctors and GPs. Even technologies like electronic prescription services (EPS) were primarily designed to streamline the lives of doctors, not necessarily pharmacists. In this landscape, pharmacies have become easy targets for cost-cutting measures.
“The specialised knowledge and services we offer are undervalued, leaving us in a vulnerable position,” Tariq further said. “To navigate this challenging terrain, we must reevaluate our reliance on the NHS and our negotiation strategies. It's clear that we need to diversify our revenue streams and explore new opportunities to become professionally and financially independent.”
Titan’s ‘all-in-one’ approach
Titanverse incorporates a customer relationship management (CRM) component, focused on fostering patient loyalty through personalized engagement and seamless PMR data integration, keeping the patient at the heart of healthcare. The platform's roadmap prioritises the integration of NHS services, aligning with the evolving demands of the pharmacy industry. Overall, Titanverse acts as a dynamic tool, centralising and streamlining pharmacy operations for effective business management.
"In pharmacy management, innovation is paramount," added Wahid. "Over the past three to four years, our team honed in on refining prescription workflows, yet we acknowledged that pharmacy operations encompass much more. From daily tasks to overarching business strategies, every facet of pharmacy management warrants attention. Titanverse strives to be the all-encompassing platform that attends to each element, from the ground up."
A map-centric approach: Titanverse adopts a map-centric design, providing a visual representation of the pharmacy's operations. This web-based interface eliminates the need for VPNs, ensuring seamless access from any device. It places pharmacy at the centre, especially crucial for those with multiple locations. Whether you're a single independent pharmacy or a rapidly growing chain, Titanverse is tailored to your needs.
Command centre for remote management: The goal of Titanverse is to liberate independent pharmacy owners from the shackles of day-to-day operations. The platform serves as your command centre, accessible on iPads, PCs, and even mobile devices. No more Mondays spent worrying about operations; with Titanverse, you're in control, even when you're not physically in the pharmacy.
KPIs for every role: Recognising the diverse roles that pharmacy owners play, Titanverse breaks down analytics into four categories: clinical, operations, finance, and efficiency. Each category is accompanied by a host of key performance indicators KPIs, enabling the owners to switch hats seamlessly. Whether you're focusing on clinical checks, operational efficiency, financial metrics, or overall business efficiency, Titanverse provides the insights you need.
Efficient team management: For pharmacies with multiple locations, Titanverse introduces a teams approach. This feature facilitates streamlined communication and management, ensuring that area managers and staff members are aligned with their specific responsibilities. Visual indicators using a red, amber, green system offer instant feedback on each pharmacy's performance.
Hub-and-spoke efficiency: Titanverse offers a revolutionary hub-and-spoke model, allowing pharmacies to distribute tasks efficiently. With a simple drag-and-drop, the pharmacy owners can reassign tasks and clinical checks, optimising resource allocation across your network of pharmacies.
A glimpse into the future: Titanverse isn't just about prescriptions or services; it's about transforming patients into clients, establishing lasting relationships, and maximising the value the pharmacy provide. By seamlessly integrating private services, efficient workflows, and a comprehensive CRM system, Titanverse empowers pharmacy owners to take their operations to new heights.
Journey begins
The path may be challenging, but the destination is one where pharmacies are not just places of transactions, but centres of healthcare excellence. The pharmacy sector must focus on four key pillars: embed, optimise, specialise and expand.
“By adopting advanced technologies like Titan, we can streamline dispensing processes, liberating valuable time and resources without compromising safety,” Tariq said. “Utilise data analytics to enhance the efficiency of every aspect of your business. Identify star performers among your staff and leverage cost-effective delivery methods. When exploring private services, take a strategic and sustainable approach. Become health hubs that offer specialised services, gradually expanding as your business model solidifies.”
In August, Tariq made a substantial investment to acquire a minority stake in the burgeoning pharmacy startup, PharmAppy. The app's co-founders, Rhys Lloyd (CEO) and Josh Ablett (CTO), benefit from technical backing and expertise provided by Titan PMR's parent company, Invatech Health, which boasts a team of 50 experts. Moreover, they receive mentorship directly from Tariq.
