Pharmacy Inventory Management (Domain 7) Flashcards
What is the meaning of the acronym “P&T”?
Pharmacy and Therapeutics Committee
What is the meaning of the acronym “PAR”?
Periodic Automatic Replacement
What is the meaning of the acronym “JIT”?
Just In Time
Where should insulin be stored?
in the refrigerator
Where is Xalantan stored in the pharmacy?
in the refrigerator
What type of inventory must be taken every 2 years?
biennial
What type of inventory identifies the quantity of a specific drug at a particular point in time?
perpetual
What is another term for 80/20 report?
velocity report
What number is assigned to a particular batch of medication?
lot number
What is the name for an approved list of medications?
Formulary
What is another term for contract compliance?
BID
What temperature is defined as any temperature between 30° and 40° C (86° and 104° F)?
warm
What temperature is defined as not to exceed 8° C (46° F)
cold
What temperature is defined as any temperature between 15° and 30° C (59° and 86° F)?
room temperature
What is the meaning of the acronym “DAR”?
Drug Accountability Record
Who establishes the formulary for an organization or institution?
Pharmacy and Therapeutics Committee
Which automated system is commonly used to manage controlled substances?
bar coding
What is the purpose of a group purchasing organization (GPO)?
Negotiates prices for hospital pharmacies (but not purchasing)
What is the primary source of medication for pharmacies?
Manufacturers and wholesalers
What is a compliance report?
a report summarizing all items that were not purchased on bid
What is an 80/20 report?
a detailed summary of purchasing history based on the 80/20 rule, designating medications that account for 80% of the drug costs for that period of the time
What is a PAR report?
A PAR report identifies the PAR level for each medication in stock
What is a velocity report?
it provides a measure of the rate of work accomplished per iteration unit of time.
What does the term “BID” mean?
it is used to indicate the purchase of product whose price has been negotiated
Who assigns a beyond-use date for a medication?
the pharmacy assigns a beyond-use date whenever a compound is prepared or repackaged.
Who provides the guidelines for beyond-use dating?
the USP
What is the first step the pharmacy should do after being notified of a drug recall?
check the pharmacy shelves first.
*If there is any recalled medication in stock, pull it aside and notify the pharmacist. The recalled medication should be kept separate from the remaining pharmacy inventory so it is not dispensed to a patient.
Which pharmacy reference book contains drug contains drug costs?
the Drug Topics Red Book
Which pharmacy reference book contains emergency information, clinical reference guides, practice management, and professional development?
the Drug Topics Red Book
Which pharmacy reference book contains pharmacy and health care organizations, drug reimbursement information, manufacturer and wholesaler information, and product identification?
the Drug Topics Red Book
Which pharmacy reference book contains RX product listings, OTC and nondrug products listing, and complementary and herbal product referencing?
the Drug Topics Red Book
Where can an approved listing of medications that may be used within an institution or organization be found?
a formulary
Where can a list of approved pharmacy abbreviations be found?
a formulary
Where can policies and procedures in a pharmacy be found?
a formulary
Where can protocols, nutritional products available and dosing schedules for medications be found?
a formulary
Where can medical guidelines for prescribing of specific medications be found?
a formulary
What is included in a formulary (6)?
1) an approved listing of medications that may be used within an institution or organization
2) approved pharmacy abbreviations
3) policies, procedures, and protocols
4) nutritional products available
5) dosing schedules for medications
6) medical guidelines for prescribing of specific medications
Who pays the freight charges when shipping terms note “FOB destination”?
The seller
What is the meaning of COGS?
Cost of goods sold
What is a unit-of-use container?
a container that holds a specific quantity of drug product that is to be dispensed without any other modification than the label
When is a hospital’s drug formulary updated?
every 12 to 18 months
How are unused cytotoxic medications disposed?
with biohazardous waste
What is a benefit of belonging to a group purchasing organization?
guaranteeing preferred pricing over a period of 1 year or more
What does a pharmacy’s inventory turnover rate indicate?
the number of times in a year the inventory has been used and reordered
What is a purchase order?
a number used to identify an order
What are 4 other names for a restrictive formulary?
selective formulary; limited formulary; partially closed formulary; managed formulary
Which term refers to the document presented by the individual delivering an order that identifies the number of boxes or totes?
shipper’s manifest
What type of inventory is performed to determine the value of the medications in a pharmacy?
physical inventory (at least once a year)
What term refers to the selection of a drug in a class of drugs to be dispensed when any drug in that classification is prescribed?
therapeutic substitution
