Home > Preview
The flashcards below were created by user
on FreezingBlue Flashcards.
accounts payable ledger
a record of what a pharmacy owes its suppliers and other creditors
accounts receivable ledger
a record of what is wed to the pharmacy by patients, insurance companies, government agencies, and managed-care contractors
anything that is owned by the pharmacy
average wholesale price (AWP)
the average price at which a wholesaler sells a drug to pharmacies
- statement of the financial condition of the business at a given time
- assets = liabilities + net worth
- a fixed fee paid to a pharmacy by an insurance company to provide medications to a patient.
- pharmacy doesn't get additional fees if the patient's prescriptions cost more than what has been reimbursed
cash disbursements journal
a record of pharmacy expenditures (payments)
cash flow statement
- a record of cash receipts and disbursements
- out and in
cash receipts journal
a record of cash that comes into the business
a record of profit or loss that shows the financial transactions that have occurred over a specified time period
a document showing items purchased at one time from a specific supplier
what is owed to a creditor
maximum allowable cost (MAC)
the maximum amount a pharmacy will be reimbursed for a prescription drug
the value of the business that belongs to the owner
- the ongoing cost of running the business.
- includes utilities, rent, etc.
What would you like to do?
Home > Flashcards > Print Preview