Business Flashcards
How much of the NHS budget does NHS England manage?
£100 billion
What is the role of the LPC?
Local pharmaceutical committee.
Works locally with NHS England Area teams, CCGs, and local authorities to help plan healthcare services.
Negotiates and discusses pharmacy services with commissioners and provides advice to community pharmacy contractors.
What are CCGs?
Clinical commissioning groups which are responsible for 60% of the NHS budget, commission most secondary, and some primary care services. These include:
*mental health services and learning disability services
*community health services
*urgent and emergency care including out-of-hours and 111
*rehabilitative care
* planned hospital care.
What is the commission cycle?
- Assessing - collect and analyse data to prioritise health needs of the population and consult with stakeholders.
- Planning - create a vision for services.
- Securing - agree contracts with providers, determine contract length and outcomes.
- Monitoring - manage current services and benchmark with peers.
What does a business plan consist of?
The plans and goals for the functions within the whole operation. Includes business strategy, milestones, marketing, products/services, management sales, production, finances etc.
Flexible and should change.
What’s a mission statement?
Briefly and clearly defines what you are in business to do and which markets will be served and how. Should show:
- Value: why is this business of value to customers and employees. USP?
- Inspiration: why should people want to work for the company?
- Plausibility: make it reasonable.
- Specificity: tie it back to the business.
What are some recent policy changes in the NHS?
Sustainability and transformation partnerships/integrated care systems - Greater focus on integrated care between providers rather than competition.
Primary care networks (PCNs) - cover 30-50k people. Consist of GPs, pharmacies, opthamologists etc. to have fully integrated community-based health care.
What are the different elements of finance?
Sales (revenue): money received from goods/services.
Costs: total costs for items sold.
Gross profit: revenue-costs.
Expenses: running costs (rent, bills, employees).
Net profit: revenue-costs-expenses.
What are some income streams for community pharmacies?
Single activity fee - fee for every prescription item dispensed.
Additional fees - inhouse manufacturing, measuring and fitting hosiery, dispensing CDs etc.
Establishment payment - if exceed a threshold of monthly prescriptions.
Quality payment - evidence of going above and beyond e.g., no. of NMS, anticoagulant audits, inhaler technique checks, antimicrobial stewardship.
Pharmacy Access Scheme - pharmacies in more remote areas or where there is not many pharmacies.
How much does NHS-funded care in England increase each year?
4.6%
4 characteristics of services?
Intangibility - things other than supplying physical products
Simultaneity - services are produced and consumed at the same time (compared to goods which jare produced, sold, and then used).
Customer contact
Heterogeneity - service changes for each customer.
What are the 4 elements of the service package?
Explicit services - readily observable and consist of essential features of the service.
Implicit services - psychological benefits that the customer may only sense vaguely.
Supporting facility - physical resources required for the service.
Facilitating goods - material purchased/consumed by the buyer or items provided to customer.
ServeQual 5 components of service quality.
Reliability - dependable and accurate
Responsiveness - prompt service.
Assurance - knowledge of treatments, politeness, respect.
Empathy - caring, individualised attention.
Tangibles - physical materials or equipment.
Types of service.
Mass service - high volume, low variety e.g., McDonalds.
Service shop - medium volume and variety e.g., car repair.
Professional services - low volume, high variety e.g., legal services.
What is a hub-and-spoke business model?
A model of distribution of goods where there is a centralised hub which distributes products to spokes which distributes them to customers e.g., click and collect.
