KEY TERMS
the concept of "treaung the whole person"- body, mind, and spirit
holistic health
the amount of time the average drug inventory will be replaced during a 12-month period; most pharmacies replace inventory every two to four weeks
Inventory Turnover Rate
a device used to administer a drug in the form of compressed gas through the mouth and into the lungs
MDI
to match the cash, credit card receipts, personal checks, coupons, rebares, voided sales, and patient charges with the tape printout from each cash register
reconcile
the net price paid by the pharmacy to acquire a product from a wholesaler or supplier, including the adjustments such as discounts and rebates.
Acquisition Cost
a system of tnerapeuties in which diseases are treated by administering minute doses of drugs that are capable of producing symptoms like those of the disease being treated.
Homeopathy
the total value of the entire stock of products on hand for sale on a given day
inventory value
gross profit minus all expenses
net profit
when someone pays others to purchase restricted OTC medications, such as those containing pseudoephedrine, for the purpose of making illegal drugs
Smurfing
the use of medical products and practices that are not part of standard care
alternative medicine
medicine when conventional treatments are combined with alternative medicine.
integrative medicine
:the cuterence between the acquisition cost and the selling price; also called gross profit.
Markup
a situation in which the pharmacy does not have the prescribed drug in inventor
out of stock
a device commonly prescribed for children and the elderly to deliver inhaled medication more accurately
Spacer device
the average price that wholesalers charge for a drug, serving as the benchmark pruce to estimate reimbursement rates and retail price without insurance.
AWP (Average Wholesale Price):
the entire stock of products on hand for sale at a given time
Inventory
the ratio by which the acquisition price is marked up for customer sale to secure a gross profit
Markup rate
:a company that administers drug benefits for many insurance companies
PBM
a process whereby active ingredients are serially diluted and shaken and diluted again in water or alcohol in a series of steps to develop a less intense solution for homeopathic drug administration
Succussion
an extensive table that itemizes the costs of business versus the income generated for the same period of time.
Cost-benefit analysis
a maximum and a minimum number of stock units of each product to have on hand in the inventory
Inventory range
the percentage by which the acquisition price is marked up to secure a gross profit
Mark-up Percentage
live bacteria and yeasts that are good for a healthy digestive system. Probiotic treatments are common after or during antibiotic prescription live acidophilus culture yogurt is considered a probiotic.
Probiotic
plastic containers that contain medications sent from the wholesaler, including those for controlled substances and refrigerated items (in cold packs); these containers are sealed at the warehouse for security until delivery to the pharmacy
Totes
the process of withdrawing a drug from the market by the FDA or drug manufacturer for serious adverse effects or other defects in the product.
Drug recall