ObjectiveThis study aims to evaluate the impact of redesigning an entrustable professional activities (EPAs) assessment tool on the accuracy of student performance assessment within pharmacy education. MethodsThe study used retrospective programmatic data for students on clinical rotations over a 3-year period and compared entrustment levels assigned by preceptors with suggested entrustment levels. This tool was redesigned to separate formative EPA feedback from final grade determination. Data were analyzed using chi-squared tests to identify trends in students ABOVE, AT, or BELOW the suggested entrustment levels. Additionally, to account for intercohort variability, the relationship between students ABOVE the suggested level of entrustment and postgraduate metrics was examined. ResultsAfter the implementation of the revised tool, there was a significant decrease (−3%) in the percentage of students scoring ABOVE the suggested entrustment levels and an increase in the percentage of students scoring AT (+1%) or BELOW (+2%) the suggested entrustment levels. Changes were also observed in individual patient care settings, with a decrease in grade inflation and an increase in accurate assessments. North American Pharmacist Licensure Examination (NAPLEX) pass rates, residency match rates, and grade point average did not correlate with entrustment levels. ConclusionThe redesigned EPA assessment tool demonstrated a decrease in grade inflation resulting in more accurate assessments. The tool’s focus on holistic grading and narrative descriptors contributed to better alignment between preceptor assessment and school-suggested achievement levels. This study suggests that EPA assessments in pharmacy education could benefit from a stronger emphasis on formative feedback and the use of holistic assessment methods for final grade determinations. The findings underscore the potential advantages of considering a separation between EPA scoring and final grades, prompting the Academy to explore their assessment practices to better reflect student performance in clinical experiences.