What can you learn about how you should manage your pharmacy from observing where others are having success? My answer is that you should learn how to manage it as if you are going to sell your business tomorrow. The implication is that you want to sell your business for the best price you can get. You get the best price if you have created the most value. You should be working every day to create the most value that you possibly can.
Bruce Kneeland took to the road and visited pharmacies in Alaska of all types of ownership, size, and markets served. He found they share four business strategies that have made them successful.
2018 is just about here, and most pharmacies will have already been thinking about strategy for the coming year. What will the key trends be? Where are the best places to put investment? How can you get more out of technology investments you’ve already made? And what markets will be growing and offering new revenue opportunities? Here we take a look at what a number of pharmacy technology vendors see as the priorities for 2018.
The Drug Quality and Security Act (DQSA) was signed into law on Nov. 27, 2013. The purpose of the DQSA is to address issues related to drug compounding oversight, and incorporates a national prescription drug “track and trace” system inclusive of standards for prescription drug wholesale distributors and third-party logistics (3PL) providers. It amends the Food, Drug & Cosmetic Act (FD&C Act).
Insurance covers a loss up to a pre-agreed total amount. Automobile insurance covers up to the total value of your car. Home insurance maxes out at the total value of the home. Life insurance pays out at a pre-agreed amount. Both the insured and the insurer know at the outset what the maximum payout can be. This cannot be done with healthcare
The financial management of healthcare is a fascinating subject that affects each of us in many ways and deeply impacts the health of our country’s economy, as well as its people.