WESTERN UNIVERSITY COURSE REPORT

Transcription

1 WESTERN UNIVERSITY COURSE REPORT TABLE OF CONTENTS Curse Descriptin by Week Sectin 1: Financial Management Wrksheet Checklist. 7 Sectin 2: Patient Care / Ancillary Service Wrksheet Checklist.. 9

2 Week Descriptin 1 COURSE INTRODUCTION Financial Management Cmpnent Business Principles / Purchasing a Pharmacy Sectin 1, Lecture 1 Business principles 1. Key terms 2. Key players in independent pharmacy 3. Business statements and reading them Purchasing a pharmacy 1. Lcatin 2. Resurces available 3. Junir partnerships Pssible Guest Speaker : NCPA representative 2 Business Plan writing Sectin 1, Lecture 2 Cmpnents f Business Plans Resurces available fr small business wners Hw t present business plan Examples f successful and failed business plans Pssible Guest Speaker : Lan fficer wh deals with business plans 3 Finance / Accunting Sectin 1, Lecture 3 Finance 1. Hw t secure financing 2. Structuring a purchase which includes whlesaler 3. Crprate structure Accunting 1. Cash versus accrual accunting 2. Accunting and tax ramificatins Marketing Advertising Cmmunity utreach Establishing a base f custmers Pssible Guest Speaker: Independent pharmacy wner The final prject f the abve cmpnent is fr the student t develp a business plan fr the purchase f an existing pharmacy 2

3 Week Descriptin Business Management 4 Assignment due : Part 1 Guest Speaker fr Part 1 5 Plicies and Prcedures Sectin 2, Lecture 1 Emplyee management (Hiring/firing/training) Scheduling staff Opening / Clsing prcedures System breakdwns Everything that can be related t the daily running f a pharmacy Sectin 2, Lecture 2 Cntinuus Quality Imprvement Pssible Guest Speaker : State Bard Representative 6 Sectin 2, Lecture 3 Technlgy Cmpnent f Pharmacy Rbtics pricing and feasibility Phne Systems and efficiency f staff Sftware vendrs Web Site Pint f Sale Systems Pssible Guest Speaker : Anther independent wner with systems in place Reimbursement Rates / Ancillary Services / Imprving Sales Hw d pharmacies get reimbursed Hw t make business mre prfitable Hw t install a new business within business t increase sales The final prject f this cmpnent is t present an abridged plicies and prcedures manual that defines hw the pharmacy will perate n a daily basis 3

4 Week Descriptin Patient Care / Ancillary Services 7 Assignment Part 2 Due Guest Speaker Part 2 8 Sectin 3, Lecture 1 Patient Services Designing the prgram Writing the prtcl Implementing the prgram Recruiting patients Legalities f DSM prgrams Review f prgrams that succeeded 1. Immunizatin DSM 2. Diabetes DSM/DME business 3. Hypertensin 4. Asthma Management 9 Sectin 3, Lecture 2 Ancillary Services in Cmmunity Pharmacy Designing the service Implementing the service Review f services that succeeded 1. Cffee Shp 2. Pst Office 3. Flwer Shp 4. Ostmy Supplies The final prject f this cmpnent is t present a DSM prject fr the pharmacy that will be installed int the pharmacy 10 Assignment Part 3 Due Guest Speaker Part 3 11 Site Visit t : Independent Pharmacy Site using tls/skills/management practices frm curse 12 Evaluatin Student prject presentatins 4

5 Financial Management Wrksheet Prir t lecture yu shuld be able t answer all f these questins and be prepared t share yur answers and discveries with the rest f the class. 1. What is the structure f the pharmacy wnership? Is it a crpratin? Wh are the fficers f the crpratin? Is it a sle prprietrship Wh is the principal decisin maker (PIC r wner) Is it a L.L.C (Limited Liability Crpratin) Is it a business partnership Wh are listed as the Partners, and is there a Buy/Sell Agreement in place? 2. Are the pharmacy / building / prperty cmpletely wned by the pharmacist r a different wner? 3. Is the pharmacy paid fr r is it still under lan, and if s what are the terms f the lan, and hw many payments are remaining? 4. What is the status f the lease, what are terms f the lease, wh is the lease frm? 5. Is the lease transferable? 6. Hw lng is the lease gd fr, is there an ptin in place at the terminatin f the lease? 7. What kind f accunting des the pharmacy emply, Cash r Accrual? 8. Why was that methd f accunting chsen? 9. Des the pharmacy have an accuntant? 10. Hw ften des it cmpile its financial statements? 11. Des the pharmacy have the last 3 years f financial statements? 12. Des the pharmacy have its Balance Sheets, Incme Statements, and Tax returns? 13. Wh is/are the whlesaler(s) fr the pharmacy? 14. What terms des the pharmacy have with the whlesaler? 15. Des the pharmacy participate in the whlesaler prgram fr independents such as Gd Neighbr, r Leader? 5

6 16. Why des r desn t the pharmacy participate with the prgram listed abve? 17. What services des the whlesaler ffer ther than medicatin distributin? 18. If s, why des the pharmacy have multiple whlesalers? 19. Des the pharmacy have a marketing plan in place? 20. What are the cmpnents f the plan, such as TV, radi, print media? 21. Of the cmpnents listed abve, what is the cst f implementing and maintaining such a plan? 22. Des the pharmacy d any advertising in the frms listed abve? 23. What is the pharmacy s Marketing budget fr the year? 24. Hw much f that budget is apprtined fr advertising and hw much fr prmtin? 25. What types f prmtin des the pharmacy d? 26. Des the pharmacist/wner d any persnal appearances at churches, cmmunity events, schls fr the sake f prmtin? 27. Des the pharmacist cncern him/herself in advertising r prmtin r des he have an agency hired r if the pharmacy is part f a chain, des the chain prvide the advertising dllars and plan? 28. Hw are accunts payable handled? 29. Hw are accunts receivable handled? 30. Des the pharmacy have a persnal charge accunt prgram? 31. Wh administers the pharmacy charge accunt prgram 32. Des the pharmacy participate in a switch spnsred accunts recnciliatin system such as ERX netwrk? 33. Are there any ancillary services ffered in the pharmacy such as a pst ffice, flwer shp, cffee shp r any ther nn-pharmacy peratin besides ver the cunter and prescriptins? 34. If s, wh runs the peratin listed abve? 35. What is the cst f emplying such a nn pharmacy peratin? 6

7 Financial Management Checklist If yur preceptr will permit, cllect as much f the infrmatin that is listed belw available at yur site. Read them and familiarize yurself with them. Please keep in mind that yur site may nt have all the infrmatin listed belw. That is OK, as this checklist is just t help yu get a brad verview f financial issues at a pharmacy. Pharmacy wnership Ownership agreement (If partnership) Crpratin articles (If crpratin) Organizatinal structure (If sle prprietrship) Junir Partnership agreement (If such an agreement is in place) Financial Psitin Cpies f Tax Returns (Study this item; d nt remve frm the pharmacy) Mnthly/Quarterly financial statements Lan Paperwrk (If applicable) Balance sheet (Accuntant s Cpy if pssible) Cash flw statement Hw des the wner analyze his/her financial psitin each mnth Marketing Scheme Mnthly Marketing flyer Persnal Marketing Receipt Marketing Telephne Marketing Advertising Signage Advertising flyers / mailers Prmtinal material Business Plan Lcatin Analysis Descriptin f Business Financial Breakdwn Marketing Scheme Did the pharmacist utright buy the pharmacy r did he need help and if s did he prepare a business plan fr the purchase 7

8 Patient Care/Ancillary Services Wrksheet The fllwing questins shuld be answered befre arriving fr the patient care/ancillary services lecture. Yur site may nt have any patient care r ancillary services. In that case, yu shuld discuss the fllwing questins with the preceptr and identify the reasn fr nt incrprating a service int the current practice. 1. Des the pharmacy have any patient care services (disease state management) in place 2. If s, which services are ffered (asthma management, diabetes management, hypertensin management)? 3. Hw des the pharmacist market these services, hw are these services financed? 4. Hw much time des the pharmacist invest in these patient care services? 5. Was there any reengineering f the pharmacy staff and wrkflw in rder t incrprate these services? 6. What is the participatin by patients? 7. Hw many patients thse the pharmacist see per day, per week? 8. Are there any special permits, certificates, r licenses that the pharmacist needed t secure prir t initiating the patient care service? 9. Hw d the physicians in the area respnd t the patient care services ffered at yur site? 10. Des yur site have any ancillary (nn-pharmacy) services that it ffers such as a pst ffice, pht shp, r restaurant/cffee shp? 11. Why was this service installed? 12. Is this service financially self-sufficient r des it draw resurces frm the pharmacy s ther incme? 13. Wh is respnsible fr running this extra service? 14. Did the pharmacy have t be reengineered in rder t incrprate this service? 15. What is the return n investment fr the service that the pharmacist/wner has installed? 16. Were there any special purchases required t make this service be ffered? 8

9 Patient Care Services / Ancillary Services Checklist If yur preceptr will permit, lk fr as much f the infrmatin that is listed belw: Patient Care Services Pharmacy is well designed fr patient care Staff is n bard with plan and understand what t d with new patients f the patient care service Lcal Physicians are aware f prgram and refer patients Written Prtcl Pharmacist training Sftware System t Dcument patient care services Written dcumentatin f each interactin CLIA Waiver / If applicable Private Cunseling space fr service Marketing f service is apprpriate Service meets HIPAA guidelines fr patient privacy Pharmacist gets reimbursed fr services Ancillary Services Pharmacist has ancillary services Ancillary service has its wn staff Ancillary service is prfitable Ancillary service is self-sufficient Ancillary service meets with the pharmacy missin 9