hospi lec.txt

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hospi lec.txt
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    • fileName "hospi lec"
    • short range plan for future operations
    • budget
  1. reasonable and attainable / use
    • define purpose of the unit
    • establish policies for its operations
    • project the hospital's growth
  2. three parts of budget
    • income accounts
    • expense accounts
    • capital requiremen requests
  3. categories of expense account
    • Administration and general
    • Professional care of patients
    • Out-patient and emergency
    • Other expenses
  4. pharmacy department
    • Salaries and wages
    • Supplies and expenses
    • Drugs and Pharmaceutical
    • Purchased Services
    • Miscellaneous
  5. Sale of drugs to in px ambulatory and some dept of the hosp
    income accounts
  6. Assures standard and specification for all drugs, chemicals, diagnostic agents etc used in pxs
    purchasing and inventory / ptc role
  7. drug is used in large amounts and future use of the drug is certain.
    competetive bidding
  8. directed to manufacturer or supplier that would offer the drug at its lowest price
    quotation request
  9. Theoretical inventory record by pharmacy and accounting
    • slow moving drug
    • expired drug
  10. duties of a purchaser
    • Issues purchase orders
    • Maintains purchase records
    • Follows up on delayed orders
    • Initiates competitive bidding procedures
    • Obtains quotations from specified sources
  11. procurement and requisition
    • Determine, accredit and monitor supply sources
    • Evaluate suppliers’ performance
    • Choose a buying strategy/ approach
    • Monitor drug delivery
    • Assess clinical pure outcomes
    • Evaluate new product
    • Consult PTC concerning modification of drugs
    • Reject drug products based on a sound judgement
    • Obtain medicinal products which are required in the trust premises.
  12. 3 ways to get discount or savings
    • control on purchases
    • volume contracts
    • deals
  13. cost of goods sold over fiscal period
    inventory turnover
  14. Low turnover indicates:
  15. Duplication of stock
    • Large purchases of slow moving items
    • Dead inventory
  16. High turnover indicates:
  17. Small volume purchasing
  18. - Contracts covering total purchases of parenteral solutions, ampoules, tablets.
    -rebate check at the end of the year.
    Volume Contracts
  19. represent that type of transaction that involves the purchase of a specified volume and receiving certain merchandise at no additional cost.
    Deals
  20. -prompt payment of pharmaceutical bills
    Discounts
  21. Marking merchandise
    • <4- OVERSTOCKING
    • >5- UNDERSTOCKING
    • 1- SOUND INVENTORY
  22. Marketing Machine
    Marking machine- date received, cost price & selling price
  23. Original price of an item
    Cost price
  24. What consumers pay for when purchased directly
    Selling price
  25. Selling Price- Cost Price
    Profit
  26. all expenses in acquiring an item are added to the cost of items to establish what the goods actually cost
    Actual cost
  27. Actual value of the item when last purchased
    Cost
  28. old stock + new stock/ total no. of units
    Average cost
  29. PRE-PRINTED ORDER FORMS
    Contains the ff information:
    • PRE-PRINTED ORDER FORMS
    • Contains the ff information:
    • •Name of the drug
    • •Dosage form
    • •Dosage
    • •Packaging (by box of 100s)
    • •Amount ordered
  30. ordering procedures
    • Three copies of the order should be made, dated and countersigned by the person in charge of the health facility.
    • Two copies ( delivery note, invoice; supplier’s record)
    • Third copy - hospital pharmacy
  31. Receiving an order
    • Accompanied with a delivery note or an invoice showing the number of packages and their contents.
    • Number of packages should be checked immediately. Then, their contents can be checked.
  32. Ex: Appearance, Expiry date, Labelling etc
  33. Oricing of drugz
    • Direct Personnel Costs
    • Drug costs
    • Other direct supply cost
    • Fixed overhead costs
    • Direct costs
    • Revenue Deductions
    • Profit margins
  34. Pharmacy pricing methods
    • Percentage Mark-up method
    • Dispensing fee method
    • Per diem charge method
  35. Considerations in designing a pharmacy pricing system
    • Collection of Charge data
    • Clerical and administrative item requirements
    • Generation of adequate charge detail
    • Assurance of adequate revenue
    • Ease of logical revision
    • Explainability
    • Acceptance of third party payers
  36. Physical inventory
    • Amount of stock or merchandise that is available for sale to present and future clientele.
    • Basic stock + safety stock
    • The taking of total physical inventory in the pharmacy is usually required by the auditing firm employed to audit the hospital’s fiscal operations.
  37. The number of times per year inventory is sold and replaced at cost.
    inventory turms
  38. include but are not limited to the costs of placing the
    order, receiving goods, and processing payment.
    Procurement costs (ordering costs)
  39. all costs associated with carrying maintaining inventories.
    Carrying costs
  40. measures the operational profitability of a pharmacy.
    Gross Margin Return On Investment (GMROI)
  41. is the amount of inventory carried to meet an average demand level.
    Basic stock
  42. Safety stock - the amount of inventory carried to account for fluctuations in demand and in order cycle times
    Safety stock
  43. is the amount of time that elapses between the placement of an order and the receipt of the merchandise.
    Order cycle time
  44. This is calculated from the exits recorded on the stock cards: add the quantities in the outgoing column from several months (3, 6 or 12) and divide the total by the number of months.
    Monthly consumption
  45. Working stock
    corresponds to the amount of each drug consumed between supply of the pharmacy.
    Working stock

    Example: Working stock = monthly consumption / 3 mos.
  46. The amount to order based on the information on the stock cards.
    Quantity to order
  47. (working stock + safety stock) - remaining stock on the day the order was made.
    Order
  48. Functions of inventory management
    • Increase Profitability
    • Get the maximum amount for the business' investment
    • Balancing supply and demand
    • Improving efficiency
    • Establishing a safety stock and geographical specialization
  49. Methods of inventory
    • Open to buy method
    • Short List method
    • Minimum to maximum method
    • Stock Record Card
  50. budget method limits purchases to a specific amount of funds available for purchasing pharmaceuticals during a specified period.
    Open to buy method
  51. SHORT LIST METHOD
    identifies the items that are in short supply
    Short List Method
  52. is to determine when and how much to order of each item
    minimum to maximum method
  53. used to record information on the movement of goods in and out of the storage area.
    Stock Record Card
  54. Stock Card Method
    • Movements of stock, in or out
    • Theoretical stock level
    • Consumption of consumers
    • Orders to be correctly foreseen
    • Assessment of what and how much has been lost
    • LOSS= Theoretical- Actual Stocks
  55. Information on stock cards
    • The name of the product with DF and dose
    • Drug movements with dates
    • Orders made and the date
    • Inventories and the date 
    • Safety stock
    • Maximum stock
    • Storage area
    • Price
  56. return policies and procedures
    • • Ensure optimum health outcome of pxs
    • • Continue to practice good business
    • • Develop relationship with manufacturers or suppliers
    • • Maintain the credibility of pharmacists
  57. Example of companies
    • United Laboratory
    • Amherst Laboratory
    • Pascual Laboratory
    • Glaxo Smith Klein
    • Pfizer Laboratory
  58. A request to return to the maker a batch or an entire production run of a product, usually due to the discovery of safety issues.
    Product recall

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