Financial and Inventory Management
the net cash equivalent amount paid or to be paid for the asset
What is acquisition cost?
number of times per year that inventory is purchased, consumed, and replaced
What is inventory turnover rate?
a tally of the day's sales receipts and prescriptions filled that is generated at the end of the business day
What is end of day report?
durable medical equipment
What is DME?
Healthcare practices and products used in place of conventional medicine
What is alternative medicine?
an extensive table that itemizes the costs of business versus the income generated for the same time period
What is cost-benefit analysis spreadsheet?
A maximum and a minimum number of stock units of each product to have on hand in the inventory
What is inventory range?
The average price at which drugs are purchased at the wholesale level
What is AWP (Average Wholesale Price)?
a blood sugar measuring device
What is glucometer?
a plant used for medicinal purposes
What is herbal?
the accumulation of all sales receipts before deducting expenses
What is gross profit?
the total value of the entire stock of products on hand for sale on a given day
What is inventory value?
to match cash, credit card, checks, coupons, rebates from each cash register
What is reconcile?
metered dose inhaler
What is MDI?
the concept of "treating the whole person"
What is holistic health?
the entire stock of products on hand for sale at a given time
What is inventory?
the difference between the acquisition cost and the selling price
What is markup?
not available
What is out of stock?
used in asthmatic patients to help inhale medication slowly
What is spacer device?
a system where diseases are treated by small doses of drugs producing similar symptoms
What is homeopathy?
Gross Profit - Expenses
What is net profit?
the ratio by which the acquisition price is marked up for customer sale to secure a gross profit
What is markup rate?
the process of withdrawing a drug from the market for serious adverse effects or defects
What is drug recall?
plastic container to pack medication
What is totes?
when conventional treatments are combined with alternative medicine
What is integrative medicine?