Third-Party Billing, Reimbursement, and Inventory Management Part 3

Question 1

If on average, 25 packages of furosemide (a common diuretic) are used per month and expire within one year of purchasing, it would make sense to ____

Answer 1

purchase slightly more than the necessary amount each month to ensure the stock isn’t building and going unused

Question 2

Generally, facilities will have a ____ (often with pharmacy technicians) that evaluates and makes purchasing decisions

Answer 2

purchasing team

Question 3

____ (PO) are documents used to order and track ordered items. Just-in-Time allows for a minimum inventory amount to be kept

Answer 3

Purchase orders

Question 4

Knowing the ____ and ____ for your organizations creates an efficient process for ordering and maintaining a proper stock level of medications

Answer 4

contracts and relationships

Question 5

The best way to control inventory is visually. Based on usage, create a periodic automatic replenishment (PAR) level of all medications (the minimum amount of a specific medication that’s on hand). For example, if a PAR level of a medication is 100 units, the purchaser will visually or manually confirm this level when it reaches 100 units and ____

Answer 5

reorder the medication

Question 6

Maximum levels should also be noted and maintained so no medication ____ before it’s used

Answer 6

expires

Question 7

Ordering is done by using a tracking system that involves the ____ (NDC) numbers and bar codes

Answer 7

national drug code