I worked in a hospital pharmacy for 1.5 years. The majority of what they do is as follows:
1) Orders faxed from floors to pharmacy
2) Pharmacist types in orders into computer - calls doc if any questions, issues w/ the formulary etc.
3) Labels printed out immediately for PRN orders, which tech fills, then pharmacists signs off on (to ensure order filled properly). If the order was a change in daily meds, it will reflect on the next "cart fill," which a pharmacist will ultimately check
** just a quick aside as to what checking cart-fill entails: you have a huge cart with little drawers for each hospital room. In each drawer are the patient's meds which the pharm tech filled. A pharmacist has to go into each little drawer, dump the meds out, and check off that each single pill matches what's on the printout. This is a long, boring arduous process that all the pharmacists hated. They would usually split up the (hospital) floors between pharmacists.
4) IV orders are similarly filled by techs, and "checked off" by pharmacists.
5) TPN orders are taken by the pharmacist -- they punch in the ratio into the computer, and a machine automatically compounds it -- the tech checks the spec grav, and adds additional meds, vitamins, electrolytes, etc. A pharmacist usually 'loosely' supervises this, and signs off on it before it goes to the floor
So, as you can see, a majority of what hospital pharmacists do is enter orders in the computer, and sign off on orders once they're filled. Seriously, that's the gig, and the reason I never went into pharmacy.
In all fairness, there are some other niche jobs within hospital pharmacy, some of which are not as bad. The CCU pharmacist was really sharp, and worked out of a mini-pharmacy with one tech within the CCU, and really acted as sort of a pharmacy-advisor to CCU docs, PAs, nurses, etc. The CCU pharmacist was the most 'cerebral' role I saw of all the hospital pharmacists.
The pharmacist that worked in surgery was basically the anesthesiologist's servant. A tech could have easily done the job, but I'm sure it would be a legal nightmare, so a pharmacist has to do this.
Another pharmacist would usually have, as an ancillary responsibility, the role of "Coumadin Pharmacist." Fancy name for pharmacist that goes around and checks patients' INRs to ensure dosing is correct. If incorrect they call the doc. Again, not exactly a 'cerebral' job.
The only upside to being a hosptial pharmacist is that you usually don't have to deal with 'customers.' Instead, you gotta deal with doctors and nurses.
Another upside is that the hours are better than retail, and usually a little less hectic.
Oh yeah, I forgot to mention...about 50% of your time will be spent on the phone answering nurses' questions. I'm not even gonna go there....
Sorry, not a rosy picture of life as a hospital pharmacist...but that's the reality.