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- fileName "hospi lec"
- short range plan for future operations
reasonable and attainable / use
- define purpose of the unit
- establish policies for its operations
- project the hospital's growth
three parts of budget
- income accounts
- expense accounts
- capital requiremen requests
categories of expense account
- Administration and general
- Professional care of patients
- Out-patient and emergency
- Other expenses
- Salaries and wages
- Supplies and expenses
- Drugs and Pharmaceutical
- Purchased Services
Sale of drugs to in px ambulatory and some dept of the hosp
Assures standard and specification for all drugs, chemicals, diagnostic agents etc used in pxs
purchasing and inventory / ptc role
drug is used in large amounts and future use of the drug is certain.
directed to manufacturer or supplier that would offer the drug at its lowest price
Theoretical inventory record by pharmacy and accounting
- slow moving drug
- expired drug
duties of a purchaser
- Issues purchase orders
- Maintains purchase records
- Follows up on delayed orders
- Initiates competitive bidding procedures
- Obtains quotations from specified sources
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.
3 ways to get discount or savings
- control on purchases
- volume contracts
cost of goods sold over fiscal period
Duplication of stock
- Large purchases of slow moving items
- Dead inventory
- Contracts covering total purchases of parenteral solutions, ampoules, tablets.
-rebate check at the end of the year.
represent that type of transaction that involves the purchase of a specified volume and receiving certain merchandise at no additional cost.
-prompt payment of pharmaceutical bills
- <4- OVERSTOCKING
- >5- UNDERSTOCKING
- 1- SOUND INVENTORY
Marking machine- date received, cost price & selling price
Original price of an item
What consumers pay for when purchased directly
Selling Price- Cost Price
all expenses in acquiring an item are added to the cost of items to establish what the goods actually cost
Actual value of the item when last purchased
old stock + new stock/ total no. of units
PRE-PRINTED ORDER FORMS
Contains the ff information:
- PRE-PRINTED ORDER FORMS
- Contains the ff information:
- •Name of the drug
- •Dosage form
- •Packaging (by box of 100s)
- •Amount ordered
- 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
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.
Ex: Appearance, Expiry date, Labelling etc
Oricing of drugz
- Direct Personnel Costs
- Drug costs
- Other direct supply cost
- Fixed overhead costs
- Direct costs
- Revenue Deductions
- Profit margins
Pharmacy pricing methods
- Percentage Mark-up method
- Dispensing fee method
- Per diem charge method
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
- Acceptance of third party payers
- 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.
The number of times per year inventory is sold and replaced at cost.
include but are not limited to the costs of placing the
order, receiving goods, and processing payment.
Procurement costs (ordering costs)
all costs associated with carrying maintaining inventories.
measures the operational profitability of a pharmacy.
Gross Margin Return On Investment (GMROI)
is the amount of inventory carried to meet an average demand level.
Safety stock - the amount of inventory carried to account for fluctuations in demand and in order cycle times
is the amount of time that elapses between the placement of an order and the receipt of the merchandise.
Order cycle time
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.
corresponds to the amount of each drug consumed between supply of the pharmacy.
Example: Working stock = monthly consumption / 3 mos.
The amount to order based on the information on the stock cards.
Quantity to order
(working stock + safety stock) - remaining stock on the day the order was made.
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
Methods of inventory
- Open to buy method
- Short List method
- Minimum to maximum method
- Stock Record Card
budget method limits purchases to a specific amount of funds available for purchasing pharmaceuticals during a specified period.
Open to buy method
SHORT LIST METHOD
identifies the items that are in short supply
Short List Method
is to determine when and how much to order of each item
minimum to maximum method
used to record information on the movement of goods in and out of the storage area.
Stock Record Card
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
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
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
Example of companies
- United Laboratory
- Amherst Laboratory
- Pascual Laboratory
- Glaxo Smith Klein
- Pfizer Laboratory
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.