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Sep 19 2018

Technology-Based Reports add Efficiency, Visibility to Pharmacy Workflow

Legendary management consultant Peter Drucker is widely credited with saying, “What gets measured gets managed.”  But could Drucker, who began his career almost 80 years ago, ever have anticipated a world in which 2.5quintillion bytes of data are created every day?  Or a world in which, according to International Data Corporation, only one percent of that enormous amount of data gets analyzed?

This then, is the challenge for today’s busy managers – identifying only the most pertinent data points and unlocking its potential to help improve performance, customer service, and profitability.

Pharmacists face this challenge on a daily basis.  The typical pharmacist sees a daily onslaught of information regarding everything from patient records to reimbursement claims to pharmaceutical information and inventory management records.  Properly harnessed and analyzed, that information can generate useful reports that will facilitate and streamline pharmacy operations, and provide managers with a high degree of confidence with regard to accuracy and efficiency.

But buyer beware!  Different technology systems have different report-generation capabilities.  Some systems arrive with a suite of pre-loaded capabilities that may or may not be beneficial for a particular pharmacy’s needs, while others are more flexible, and can be customized.  A pharmacist must carefully review a technology system’s capabilities, along with the extent to which the manufacturer will offer upgrades, as new and better way of report generation and analysis become available.

With many options from which to choose, it’s good to have an idea of current report capabilities.   Most popular – and beneficial – reports include:

Prescription Reports
· Overview of prescriptions filled, with analysis generated daily, weekly or at any other desired frequency
· Refills due /Refills expired
· Prescription pickup log
· Prescriptions not picked up/Returned to Inventory
· Unbilled prescriptions
· Summary of prescriptions billed to each insurance provider

Prescriber Reports

· Overview of prescriptions received from specific prescribers

Medication Reports

· Special reporting capability for opiate prescriptions
· Refill expiration reporting
· Drugs with missing serial numbers
· Prescriptions that have Drug Utilization Review codes assigned
· Prescriptions that have diagnosis codes associated with them
· Drugs dispensed report (overview of which brands are dispensed most frequently)

Insurance Reports

· Claims Status
· Comprehensive audit report data
· List of expired drugs
· Drug pricing report
· Insurance reimbursement reports
· Claims not yet paid report
· Nursing home summary report

Patient Reports
· Prescription History
· Co-pay history
· Insurance information
· Patient medication adherence
· HIPAA signature capture report

Inventory Status Reports
· Inventory received
· Physical inventory
· Purchase order reports
· Vendor file list

Sales Reports
· Inventory sales
· Track sales referrals
· Top-selling products (drug and non-drug)
· Comprehensive point-of-sale summary for all store transactions – prescription and non-prescription
· Customer Loyalty Program tracking

Performance Reports
· Overall summary reports allow the pharmacy manager to review business statistics for a specified period
· Profit/Revenue Report
· Profit/Revenue by Drug Category
· Daily Performance report
· Top Performers in key areas including staff productivity, patient activity, prescribers, insurers, or any other category of interest to a particular pharmacy.
· Prescriptions billed by specific pharmacists.

As helpful as these report generation capabilities are, it’s essential to ensure a technology system is user-friendly, and that the system manufacturer will train pharmacy staff – both at time of installation and as upgrades become available.  Otherwise, chances are the pharmacy will fail to achieve full benefit of the system’s report generation capability.  

For more information on reports how PrimeRx™, pharmacy management system can help your streamline pharmacy operations, email us at sales@micromerchantsystems.com or call (866) 495-9999.

Even better! Schedule a PrimeRx™ DEMO. We’re happy to provide you with a comprehensive demonstration and Q&A session for PrimeRx™, pharmacy management software and its on-suite of solutions at your convenience. Just complete the form, and a sales representative will get back to you within 24 hours.