Recently we had the privilege of discussing inventory integrity with PioneerRx pharmacy software consultant Johnathon Duhon. He offered solid advice for community pharmacies on the necessary process of managing inventory. How can you keep inventory levels as tight as possible, use data to make intelligent purchasing decisions, and not make yourself crazy in the process? Duhon shared his 5 tools that pharmacies can utilize to improve inventory organization.
1. Improve patient adherence through a medication synchronization software; this will improve reimbursements with third parties.
2. Structure inventory counts to cycle count inventory an average of 3-4 times annually; this will allow staff to return unneeded and expired meds.
3. Involve all team members in your pharmacy inventory process so that they understand the significant role it plays. This is especially important in the proper management of narcotics inventory.
4. Increase adherence and decrease overhead by implementing perpetual inventory.
5. Evaluate your pharmacy management system and automation options. There may be another set of tools that can help your business and pay for itself in the long run.
More about Perpetual Inventory Software:
When a pharmacy installs a perpetual inventory system, it’s a strong, positive step toward getting serious about inventory integrity and cash flow management. Too often, however, pharmacy managers go on auto-pilot once the software is installed. The software takes care of everything by itself, right? Wrong, cautions Mitch Archer, senior systems analyst for PioneerRx. Perpetual inventory software does not automatically perform all the work by itself. Read this related article, 8 Steps to Get The Most Out of Your Perpetual Inventory System.
Capsa, especially our team focused on Kirby Lester pharmacy automation, would like to thank PioneerRx’s Johnathon Duhon and Mitch Archer for sharing advice to help community pharmacies get a better handle on their controls inventory and main inventory. Whatever pharmacy software your pharmacy is using, maximize its full potential and be to-the-pill accurate.