Week+2 - 1 Financial Impacts and Constraints Pharmacies are...

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Financial Impacts and Constraints Pharmacies are extremely important to the health care industry since they bring in a large amount of revenue and also provide the patients with the medications they need in order to stay or get healthy. This is why it’s important for a pharmacy to run at an optimal level, in order to ensure they provide the patients with the correct medications and track these distributions to prevent errors and abuse. Medications aren’t inexpensive for the pharmacies, so minimizing the errors and abuse will help to increase the profit of the facility. Effects of a pharmacy on operations management Operations management is the process of ensuring that the facility runs as efficiently as possible, if the pharmacy isn’t taking the steps to be efficient it can be a problem in the long run. There are certain thing that a pharmacy can put into place in order to run efficiently, such as perpetual inventory, strategic pricing analysis, systems integration, and location and network optimization. Perpetual inventory tracks the inventory throughout the process from the time that it’s purchased by the pharmacy, received, dispensing for preparation, and distribution of the medication. This is meant to prevent theft or any other type of loss that may accrue, which can save the pharmacy millions within a year (especially with some high costs). Pharmacies use strategic pricing analysis continuously in order to ensure that they are able to keep their prices as up to date as possible by taking several different factors into consideration. This helps pharmacies ensure that they are able to have competitive
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Week+2 - 1 Financial Impacts and Constraints Pharmacies are...

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