15 Questions
Which factor needs to be considered when choosing a supplier for a retail pharmacy?
Quality of the products
What are the objectives of purchasing for a retail pharmacy?
To obtain products at the right time, right price, and right quality
What are the components of pharmacy purchasing and inventory management?
Ordering, receiving, storing, and reordering
How does inventory management impact pharmacy management?
It can contribute positively or negatively to company profit, patient satisfaction, and patient health
What should drive the decision related to product choice in a retail pharmacy?
The target market and quality of the products
In pharmacy purchasing and inventory management, what is the primary factor that influences company profit and patient satisfaction?
Reordering strategy
What is the main objective of purchasing for a retail pharmacy?
Obtaining products in the right quantity
Which aspect significantly impacts the decision related to product choice in a retail pharmacy?
Market demand
What contributes 75% to Cost of Goods Sold (COGS) for a retail pharmacy?
Inventory management
Which function has a huge impact on pharmacy management and is closely interrelated with inventory management?
Purchasing
What is a potential benefit of accreditation for customers?
Provides confidence that risk is minimized
What is a potential benefit of accreditation for staff in the organization?
Empowerment to improve processes and current practices
Which dimension is a focus of accreditation standards?
Accessibility of care
How does accreditation potentially influence liability insurance premium and managed care contract decisions for the organization?
By providing assurance that service meets quality health standards
What is a potential benefit of accreditation for people who fund the organization?
Stimulates quality improvement efforts
Study Notes
Accreditation
- Accreditation is a self-assessment and external peer-review process used by healthcare organizations to evaluate their performance against established standards.
Purpose of Accreditation
- Enables healthcare organizations to assess their level of performance against nationally applied standards.
- Allows organizations to monitor and improve their performance against established standards on an ongoing basis.
- Provides opportunity for external review and validation.
Types of Accreditation Programs
- Voluntary accreditation programs: used in USA, Canada, Australia, and New Zealand.
- Mandatory accreditation for all healthcare facilities and services: used in Taiwan and France.
Definition of Accreditation
- Accreditation is defined as a self-assessment and external peer-review process used by healthcare organizations to accurately assess their level of performance in relation to established standards and to implement ways to continuously improve the healthcare system (International Society for Quality in Health Care Inc., 1998).
Test your knowledge of pharmacy purchasing and inventory management with this quiz. Learn about methods of purchasing goods, factors to consider when choosing a supplier, and methods of inventory management.
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