Institutional Pharmacy Financials

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
StaviZFingerZ

StaviZFingerZ

Retired
Removed
10+ Year Member
Joined
Apr 12, 2009
Messages
2,097
Reaction score
1
Who's interested in learning about this sort of stuff??
Members don't see this ad.
 
Members don't see this ad :)
me too...funny we had this topic as lecture last week in my mgmt class.
 
Members don't see this ad :)
StaviZFingerZ said:
Ask your dean..
Click to expand...

I will request StaviZFingerZ give a guest lecture or two in the pharmacy economics course next term. I will ask the dean how to go about adding a lecturer.
Golfing conditions at that time would be less than optimal around here though.
 
PumpkinSmasher said:
I will request StaviZFingerZ give a guest lecture or two in the pharmacy economics course next term. I will ask the dean how to go about adding a lecturer.
Golfing conditions at that time would be less than optimal around here though.
Click to expand...

:smuggrin:
 
StaviZFingerZ said:
Why do you need it if you just had a lecture..
Click to expand...

it was introductory, wanted to see your take on it.

it was our hospital admins that gave the lecture...find a school that doesn't have a hospital affiliation (ie new one).
 
StaviZFingerZ said:
Who's interested in learning about this sort of stuff??
Click to expand...

How in depth? I'm taking the managed care elective and it seems pretty informative from a behind the scenes cashflow sort of thing, but it doesn't go to in depth on the impact to the overall budget of any single player in the system. I haven't had PharmEcon though, so we'll see what I learn next semester. I intend to work in an institutional setting so it would be nice to have a good background. Maybe as an alum you could be a guest lecturer either for the managed care elective or the pharmacoecon class. I'm sure you know who to contact.;)
 
Praziquantel86 said:
Potentially apply knowledge gained, which is a rare occurrence in pharmacy school. Our economics lecture last week was given by a pharmacist who works for Cubist. It was a two-hour commercial.
Click to expand...


That just pisses me off. :mad::mad::mad:

Just say "NO" to pharma *****!!
 
Farmercyst said:
How in depth? I'm taking the managed care elective and it seems pretty informative from a behind the scenes cashflow sort of thing, but it doesn't go to in depth on the impact to the overall budget of any single player in the system. I haven't had PharmEcon though, so we'll see what I learn next semester. I intend to work in an institutional setting so it would be nice to have a good background. Maybe as an alum you could be a guest lecturer either for the managed care elective or the pharmacoecon class. I'm sure you know who to contact.;)
Click to expand...

Unfortunately our mater is only primarily interested in $$ donation from me than knowledge from an alum. And I'm too far from 1985 Zonal Avenue and I'm not sure I'll be able to find parking. :smuggrin:
 
confettiflyer said:
it was introductory, wanted to see your take on it.

it was our hospital admins that gave the lecture...find a school that doesn't have a hospital affiliation (ie new one).
Click to expand...


95% hospital pharmacy admin do not understand pharmacy financials. Make that 99%. So I know for a fact you're being taught "junk" pharm econ.

My 1 hour lecture would be a workshop that teaches how to calculate drug cost per common denominator and the effect of clinical pharmacy service on drug cost decrease/increase.

The pharmacist who can bridge the gap between clinical pharmacy and financials is valuable. And there are very few who have bridge the gap. I can teach this.
 
WVUPharm2007 said:
90% of students don't care as long as they get a degree and a 6-fig salary in a few years.
Click to expand...


I know this. That's why I started the thread. I would think if RX school had different elective tracks, I can lecture the "institution pharmacy track" students.. then perhaps more than 10% of this select group of students would be interested.

I don't want to lecture to kids who are not interested.
 
Farmercyst said:
I'm taking the managed care elective and it seems pretty informative from a behind the scenes cashflow sort of thing,
Click to expand...

Hospital pharmacy does not have "cashflow" unless there's an outpatient pharmacy service. The revenue through inpatient pharmacy service is typically termed "ghost revenue" because it's meaningless when the reimbursement is DRG based.

So, the emphasis must be put on controlling the "Cost of goods" rather than increasing the cashflow through revenue.

Does it make sense?
 
KARM12 said:
Seriously, what is the point of this thread?
Click to expand...


Seriously, do you have financial tracking and trending tools that track monthly antimicrobials expenditure and utilization in your institution for the past 3 years coupled with clinical initiatives to either control or decrease the cost while providing effective abx treatment and controlling the resistance? If yes, awesome..I would love to see it. :thumbup:

If no, why not?

I have created and set up this type of tools for every hospital I manage. But I have never seen this tool for any hospital where I did an initial consult.
 
StaviZFingerZ said:
I know this. That's why I started the thread. I would think if RX school had different elective tracks, I can lecture the "institution pharmacy track" students.. then perhaps more than 10% of this select group of students would be interested.

I don't want to lecture to kids who are not interested.
Click to expand...

Well, you're never going to have a 100% captive audience. But even this hypothetical 10%, who are willing to think outside the box with you...is significant enough to make it worthwhile.

You've got a lot to share...I know if you had come in to lecture my class, it would have definitely piqued my interest.
 
SpirivaSunrise said:
Well, you're never going to have a 100% captive audience. But even this hypothetical 10%, who are willing to think outside the box with you...is significant enough to make it worthwhile.

You've got a lot to share...I know if you had come in to lecture my class, it would have definitely piqued my interest.
Click to expand...


Only because I would be throwing out bite size Snicker bars to whoever answers my question.
 
WVUPharm2007 said:
90% of students don't care as long as they get a degree and a 6-fig salary in a few years.
Click to expand...

What a miserable existence.

StaviZFingerZ said:
Only because I would be throwing out bite size Snicker bars to whoever answers my question.
Click to expand...

I hope you'll share your lecture materials with us. You would have a captive audience here, because only those interested would click the link. Plus, you'll save money on candy.
 
rphello said:
I hope you'll share your lecture materials with us. You would have a captive audience here, because only those interested would click the link. Plus, you'll save money on candy.
Click to expand...


Ok, when I will post a small workshop material that will give you a sense of how to look at pharmacy fianancials and what it means.
 
You're going fishing in South Dakota? Take lots of pictures! :thumbup:
 
You must log in or register to reply here.
Next unread thread

Similar threads

P
VA HPSP for Pharmacy 2024
Replies
7
Views
355
phatpharmgirl
P
Rockinacoustic
2024 USNWR Pharmacy School Rankings
Replies
10
Views
717
projektreverb
P
E
What's The Market Like For A Compounding Pharmacy?
Replies
1
Views
769
RXDOC1986
R
K
  • Locked
Best way to prepare for a future in Pharmacy
Replies
17
Views
1K
Script1992
S
P
Pharmacy Times Challenges and Opportunities in the Future of Health-System Pharmacy
Replies
11
Views
2K
PharFromNormal
P
Top