Pharmacy Operations and Financial Terms
the net cash equivalent amount paid or to be paid for the asset
What is acquisition cost?
durable medical equipment
What is DME?
health care practices and products used in place of conventional medicine
What is Alternate medicine?
the entire stock of products on hand for sale at a given time
What is Inventory?
the process of withdrawing a drug from the market by the FDA or the drug manufacturer for serious adverse effects or other defects in the product
What is Drug recall?
The average price at which drugs are purchased at the wholesale level. It is mainly used to determine third-party reimbursement.
What is AWP (Average Wholesale Price)?
a blood sugar measuring device
What is Glucometer?
a plant used for medicinal purposes
What is Herbal?
A maximum and a minimum number of stock units of each product to have on hand in the inventory.
What is Inventory range?
Pharmacy Benefit Manager
What is PBM?
an extensive table that itemize the costs of business versus the income generated for the same time period
What is Cost-benefit analysis spreadsheet?
metered dose inhaler
What is MDI?
the concept of "treating the whole person" - body, mind and spirit
What is Holistic health?
number of times per year that inventory is purchased,consumed, and replaced
What is Inventory Turnover rate?
to match cash, credit card, checks, coupons, rebates from each cash register
What is Reconcile?
the accumulation of all sales receipts before deducting expenses
What is Gross profit?
used in asthmatic patients, a spacer between the mouth and medication device to allow the person to inhale slowly and deeply for 10 seconds
What is Spacer device?
a system of therapeutics in which diseases are treated by administering minute doses of drugs that, in healthy patients, are capable of producing symptoms like those of the disease being treated
What is Homeopathy?
the total value of the entire stock of products on hand for sale on a given day
What is Inventory value?
when someone pays others to purchase restricted otc medications
What is Smurfing?
Gross Profit - Expenses
What is Net profit?
plastic container to pack medication
What is Totes?
when conventional treatments are combined with alternative medicine
What is Integrative medicine?
not available
What is Out of stock?
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
What is Succussion?