management exam 3

describe DCTA

allows for manufacturers to advertise directly to the customer; empowers the patient and enhances adherence but may lead patients to pressure prescribers

examples of clinical pharmacy services

antibiotic stewardship, anticoagulation consultation, dosing adjustments, medication reconciliation, medication use protocol development, patient/family education, pharmacogenomic consultation, PK consultation, TPN consultation, specialty population patient care

what pharmacist patient care services are need in managed care/physician clinic

anticoagulation, MTM, chronic condition management, medication adherence

reasons to budget

get out of debt; stay out of debt; achieve your goals

define clinical pharmacy

health science discipline in which pharmacists provide patient care optimize medication therapy and promotes health, wellness, and disease prevention

describe the pharmacy practice model

how all pharmacy practice is conducted within that organization and how resources are utilized

what are the common qualifications and credentials for pharmacist that may be requirements when hiring new pharmacy personnel

*minimum training and experience requirements *residency and or board certified *certification from other health care professions

what % of overall pharmacy business expense will be COGS

75%

what are the 7 baby steps of financial peace

1. save $1000 for starter emergency fund 2. pay off all debt using snowball method 3. save 3-6 months expenses for full emergency fund 4. invest 15% of income into retirement 5. save for kids college 6. pay off your home early 7. build wealth and give

what are the 5 key resource related issues that must be addressed when developing a new clinical pharmacy service

1. staffing 2. space 3. equipment 4. office supplies 5. finances

what are the three basic questions of needs assessment

1. what is the patient need or problem to be addressed? 2. How large is this problem and what are the trends? 3. How well is the patient need currently being addressed? 4. What will your services do to reduce or eliminate the problem? 5. what are the outcomes measures and are these outcomes considered valuable to stakeholders?

how many months of an emergency fund should you have saved up

3-6

describe the 50/30/20 rule

50%- Needs 30%-Wants 20%- Savings

define market niche

A narrow segment of the population that needs specialized goods or services

what pharmacist patient care services are seen in ambulatory or community setting

MTM services, chronic disease state management, anticoagulation, medication reconciliation and adherence

what pharmacist patient care services are seen in hospital/health system

ICU services, antimicrobial stewardship, PK monitoring, IV to PO conversions, anticoagulation, ER services, Med reconciliation, nutritional support, ADE monitoring, Preventative care, pharmacy residency programs

Describe the "4 Ps" of marketing

Product, Price, Place, Promotion

components of inventory carrying cost

capital cost, storage cost, cost of risk

what is a needs assessment?

clearly define the need that is being addressed by the proposed service to determine if a market exists and if the services can be justified

what are potential needs to be addressed by needs assessments

disease prevention or management, medication and pharmacy service access

what pharmacist patient care services are seen in long term care

drug regimen review, preventative care, immunizations, fall risk

describe ECHO model

economic: monetary value of the program Clinical: health status Humanistic: patient satisfaction outcomes

what are the aspects of SWOT analysis

evaluate internal STRENGTHS of organization, understand internal areas of WEAKNESS, identify external OPPORTUNITIES that will allow service growth, understand external THREATS that may put service at risk

4 rules of ynab

every dollar gets a job, embrace your true expenses, roll with the punches, age your money

describe patient centered integrated or decentralized model

focuses on patients needs (can be clinical or distributive)

describe the zero based budget

income-expense=0 plan every dollar in budget treat savings as expenses

examples of secondary research

literature reviews, internet searches, info from CE, database reviews

tips to reduce my student loan payment

minimize the amount of loans you take pay your interest now make prinicpal payments now

what are the key components of service planning

mission: purpose of the program vision: defines what the program wants to achieve program and reporting structure policies and procedures collaborative practice agreements staffing documentation program evaluation

describe primary research data sources

original research conducted to answer specific question

emerging models of payment

patient centered medical home Accountable care organization

describe clinical pharmacist centered pharmacy practice model

pharmacist is engaged in clinical activities but has little to no involvement in distribution of medication

describe comprehensive pharmacy practice model

pharmacy generalist and specialist working together

how do you identify what is the patient need to be addressed for needs assessment?

primary or secondary research

what is the value of branding in a pharmacy setting

promotes customer loyalty

what is the difference between publicity and advertising

publicizing is not paid for or controlled like advertising; more credible but difficult to control

marketing is about

putting the right product in the right place on the right price at the right time

describe secondary research data sources

research already conducted for another purpose and publicly available

what are the purchasing objectives

right products in the right quality at the right time and price from the right vendor

describe reverse budgeting

savings focused; sum/percentage towards savings first; great for building up savings

define market

social arrangement that allows buyers and sellers to discover information and carry out a voluntary exchange of goods and services

describe periodic inventory

stock counts at specific intervals; allows for limited analysis; may require more personnel time; measures only a single point in time

define market segment

subgroup of people that share similarities which can be used for more efficient seller/buyer relationships

describe direct billings

submit bill directly to patient or third party; pharmacist is provider; depends on patients or payers willingness to pay; commonly used in outpatient settings; patient should be informed of fee and terms of payment prior to receiving services

describe indirect billing

submit bill to medicare part B indirectly; physician is paid and they give pharmacist an agreed upon amount; used in medical clinical, outpatient clinics, and physician office suites; documentation is key

examples of primary research

surveys, interviews, observations, patient records, find who the MTM payers in the area are

Describe break-even analysis

total revenue=total costs

describe perpetual inventory

uses technology, generate a report at any time; more accurate and comprehensive

what are the three components of relationship marketing

using databases to manage current and potential customers; delivering differentiated messages to various market segments; tracking customer behavior to analyze the value of acquiring and maintaining various customer segments

a plan for a implementing new clinical pharmacy services should include

vision, mission, values, SWOT analysis, long term goals, action plan, monitoring and evaluation of the plan

describe collaborative practice agreement

voluntary agreement where a prescriber authorizes a pharmacist to perform certain patient care activities under his/her authority