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Exam 1 - Management Essentials for Pharmacists Flashcards

1
Q

What do pharmacy managers do?

A

Multifaceted role involving operating the pharmacy and managing people who work there

  • managing teams
  • management styles
  • valuing diversity
  • communicating w/ success
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2
Q

What resources are managed by a pharmacy manager?

A

Money
People
Time
Material resources
Information

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2
Q

Roles of a pharmacy manager

A
  • Direct supervisor
  • Direct report
  • Administrator of patient products and services
  • Pharmacist colleague
  • Pharmacist professional

(DDAPP)

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3
Q

What is the role of a direct supervisor?

A

Overseeing other personnel in the pharmacy such as:
- techs
- students/interns
- both licensed and non-licensed personnel

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4
Q

What are the expectations of a direct supervisor?

A

Communicate & direct pharmacy’s goals

Support direct reports as they accomplish tasks - including offering guidance, resources, training, and a listening ear

Develop and nurture an environment that will help direct reports succeed

Solve problems & answer questions quickly & accurately

Represent the views of your team to others, both inside and outside of the organization

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5
Q

What is the role of a direct report?

A

Reporting up to someone else, such as middle or senior manager or the pharmacy owner

Pharmacy manager may also interact w/ other senior management members

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6
Q

What is the role of the administrator of patient products and services?

A

Ensuring that the products and services needed by the targeted patient are available and maintained

Has to interact and communicate w/ people on the receiving end of these services, as well as those who assist in providing these services (ie wholesale distributors, suppliers)

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6
Q

What is the role of a colleague to other pharmacists

A

Participating as a member of a group of pharmacist professionals who may be consulted for mentoring, training, education, or advice

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7
Q

What are the expectations of a direct report?

A

Accept accountability for the pharmacy operations

Motivate direct reports to support organizational goals and initiatives

Formulate and follow up on pharmacy plans

Balance the group’s interests w/ those of others

Protect the reputations of superiors and the company

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7
Q

What were apothecaries?

A

Small pharmacies that bough bulk chemicals to make products

Usually family managed

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7
Q

What did apothecaries do?

A

Gave medical advice & remedies for healing

Also sold protective medications and chemicals

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8
Q

What are the expectations of the administrator of patient products and services?

A

Represent the pharmacy

Accept accountability for the pharmacy’s ability/inability to provide products or services

Provide methods or plans to ensure that products and services are available for acceptance, integration, and delivery

Do what is best for the pt

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9
Q

What are the expectations of a colleague to other pharmacists?

A

Represent the pharmacy

Share needed info & resources

Set agendas and build networks

Treat peers as partners

Do what is best for the organization and profession (professional advocacy)

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10
Q

Prescriptions prior to mid-20th century

A

Physicians did write them, but most med orders did NOT require an rx until the Durham-Humphrey Amendment

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10
Q

What was pharmacy practice like prior to the mid-20th century in terms of the role of the pharmacist?

A

Pharmacists compounded many prescriptions; most drugs weren’t manufactured

Many pharmacists were self-employed and management of the business was part of apprenticeship, then experiential learning

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11
Q

Pharmacist education requirements prior to the mid-20th century

A

Bachelor’s degree was NOT mandated until the 1920s, then it became a 4 year degree

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12
Q

What was pharmacy education rooted in prior to the mid-20th century?

A

Galenical pharmacy
Pharmacognosy

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13
Q

What is the Federal Food, Drug, and Cosmetic Act (FFDCA, FDCA, FD&C)?

A

Set of laws passed in 1938 giving the FDA authority to oversee safety of:
- food
- drugs
- medical devices
- cosmetics

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13
Q

What is the Durham-Humphrey Amendment?

A

Amendment to the FDCA in 1951 that established two medication categories - Rx and OTC

Also defined which drugs require an Rx and which can be used safely without medical supervision

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14
Q

How was the Code of Ethics changed in the latter 20th century?

A

Changed to allow/encourage pharmacists to discuss therapeutic effectiveness of prescribed meds

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14
Q

Pharmacists often called ____

A

Chemists

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14
Q

Health Maintenance Organizations (HMOs)

A

Type of health insurance plan that provides care through a network of providers for a prepaid fee

Designed to reduce medical care cost, while still maintaining quality

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15
Q

What changes to medications were seen in the latter 20th century?

A

Meds were mass produced by manufacturers

Many new meds and dosage forms were discovered

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15
Q

How was pharmacy management taught in the latter 20th century?

A

Management and health systems offered as courses - usually very few credits and often only as electives

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16
Pharmacy education in the latter 20th century
Began centering around medicinal chemistry, pharmacology, and therapeutics Additional years of education were added; 4 year BS —> 5 year BS —> PharmD
17
In the latter 20th century, pharmacists were said to have become ____ and _____
Overeducated Underutilized
18
Prospective Payment System (PPS)
Medicare reimbursement method that pays a fixed amount for a specific service, rather than basing it on the actual services provided Payment amount based on a classification system for the services, such as diagnosis related groups for inpatient hospital services
19
How did care change from the latter 20th century to today?
Evolved from pharmaceutical care to medication therapy management (MTM) Emphasizes pt centric care and greater responsibility for health outcomes
20
Pharmacist employment in today’s pharmacy practice
Fewer independently owned stores More responsible for management outcomes in chains/hospital practice
21
What is medication therapy management (MTM)?
Service that helps people better understand their meds & health conditions
21
Accreditation Council on Pharmacy Education (ACPE)
Recognizes the value of education in managerial sciences It is now required in pharmacy schools, w/ many offering several additional electives and entire tracks in management Some post-grad residencies are focused on managerial skills
22
What can MTM services include?
Review of all medications, including: Rx, OTC, vitamins, supplements Written summary of the review List of actions to help the pt track their progress Education, counseling, resources Coordination of care
22
What is pharmaceutical care (PC)?
Practice in which the pharmacist takes responsibility for a patient’s drug-related needs and is held accountable for this commitment In the course of practice, responsible drug therapy is provided for the purpose for achieving positive patient outcomes
23
Where can MTM services be provided?
A variety of settings, including: - outpatient settings - long term care settings - community dwelling adults
24
Who benefits from MTMs?
Patients who: - Have multiple chronic conditions - Take a single high risk med - Are at high risk for ADEs
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What can MTMs help with?
Helps patient communicate better with their providers Can free up time to discuss other medical issues
26
Who must offer MTM services for eligible patients?
Medicare drug coverage plans Services are usually free
27
What is chronic medication management (CMM)? What is the goal?
Strategy to help patients w/ chronic diseases manage their rx meds The goal is to improve health outcomes & quality of life by helping patients take their meds as prescribed
28
Pharmacy care services marketing
Meet prominent prescribers in the local area of practice Be an active member of professional associations that support the concept of pharm care Make an available area for private consultation services for pts as necessary ID software that facilitates pharmacist’s pt care related activities
29
Business management
Utilize technicians and other staff to free up the pharmacist’s time ID opportunities for billing and reimbursement of pharmacist services
30
The divergence of management and clinical practice is…
A myth Helping patients solve problems is good for business & good for med outcomes Treating employees well usually results in them treating clients well
31
Other myths of business practice and pharmacy
The practice of pharmacy is ethically inconsistent w/ good business Business is NOT a profession guided by ethical standards In business, quality of care is secondary to generating profits A good pharmacist is one who is a “clinical purist”
32
What factors impact the effective delivery of pharmacy goods and services?
Patient demographics Attitudes & belief systems 3rd party payers & coverage issues Competitive markets Technology
33
Factors impacting the effective delivery of pharmacy goods & services: patient demographics
Aging population Females as decision makers Ethnic composition of patients
34
Factors impacting the effective delivery of pharmacy goods & services: Attitude & belief systems
Beliefs about disease, sick role, and med taking Trust in healthcare delivery system Direct-to-customer advertising of rx drugs
35
Factors impacting the effective delivery of pharmacy goods & services: Third party payers & coverage issues
- Complexity/differences among payers’ policies - Formularies - Limited networks - Limited access for some pts - Lack of knowledge by pts
36
____ and ____ are NOT separate
Good management practices Good therapeutic practices
36
Factors impacting the effective delivery of pharmacy goods & services: Competitive markets
- Diminished margins - Diversity in the types of providers offering products and services
37
Factors impacting the effective delivery of pharmacy goods & services: Technology
Software Automated dispensing tech
38
What are the managerial sciences?
Accounting Economics Finance Marketing Human resources management Operations management
39
What is financial accounting concerned with?
Summary, analysis, and reporting of financial transactions pertaining to a business
39
Accounting
“Keeping the books” Utilizes data to calculate financial ratios to compare business performance w/ industry averages
39
Even chain pharmacists are held responsible for their store’s ____
Profit and loss (P&L) statements
39
Economics
Concerned w/ the description and analysis of the production and distribution of goods and services Assists w/ determining optimal mix of capital and other resources to produce rx goods and services Helps us to understand consumer purchase behavior
40
What does management accounting involve?
Use of accounting data for business decision making, devising planning, and performance management systems
40
What questions can accounting help us answer?
Are my labor expenses too high for the amount of prescriptions dispensed? Am I overly reliant on borrowed money to support the business?
41
Finance
Deals w/ the study of investments, and more broadly how people and businesses acquire, generate, and use money Aims to price assets based on their risk level and their expected rate of return
41
What questions do economics help us answer?
Should I purchase this new robotics system to assist in the dispensing process? What might be the result on consumer demand if I raise the price of gift cards and sundries by 10%?
41
What questions does finance help us answer?
Should I take the offer from the large chain to sell them my pharmacy? How should I invest the profits I am generating from operating my pharmacy?
41
What does personal finance for an individual or family inform?
Budgeting Saving Spending monetary resources Accounts for various financial risks and future life events
42
What is human resources management
The process of achieving organizational objectives through the management of people
43
What does human resources management focus on? What is it concerned with?
Focuses on policies and systems in a business organization Concerned w/ maximizing human performance, balanced w/ fair and equitable treatment to promote effective work environments
44
What does human resources management promote?
Values and ethics in practice for all pharmacy personnel
45
What questions does human resources management help us answer?
How can we improve employee safety? From where should we recruit the best techs to work in the pharmacy?
46
What is marketing? What does it include?
The action or business of promoting and selling products or services, including market research and advertising Includes decisions around product/service, pricing, placement, promotion
47
What does marketing examine?
The concept of transactional exchanges between 2+ parties
48
What questions can marketing help us answer?
What is the best medium for me to advertise my pharmacy? How shall I arrange/display the array of OTC products I sell in my pharmacy?
49
What does operations management assist with?
Ensuring that business operations are efficient in using as few resources as needed and effective in terms of meeting customer needs
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What does operations management preside over?
The conversion of inputs into outputs (Like converting labor and materials to goods and services)
50
What is operations management concerned with?
Designing and controlling the process of production and redesigning business operations in the production of goods and services
51
What questions do operations management help us answer?
How can I redesign workflow in the pharmacy to reduce the frequency that employees get in each other’s way? What can we do to minimize dispensing errors from occurring?
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