Pharmacy FinancialsJeff Bregar10-16-2013Pharmacist or Accountant?• How many of you work in a pharmacy today?• How many of you believe you had a financial impact on your store? How?• What are some of the common things we talk about in pharmacy everyday?• How many of you think this will impact you in your career?Gross Margin• Generally calculated as revenue – COGS• Gross Margin %= Revenue-COGS x 100%Revenue• Pricing, return on marketing spending, earnings forecasts, and analysis of profitability• Is it real?Inventory• Physical inventory• Accurately reflect gross margin• Assumptions • Investing example• Typically 2-4 times annuallyInventory• Book inventory• On hand inventory• Shrink• Positive shrink / write on• Accrual• True upWhat didn’t we talk about?• Generic dispensing– Lower COGS– Higher gross margin• Productivity, efficiency or workflow– Better labor management– Less expense• Auto refill– Scripts and sales– Efficiency = labor $• Customer Service scores• Fill on arrival or out of stockWhat else didn’t we talk about?• Immunizations• Health screenings• MTM servicesRecap• Sales- revenue coming in leads the P and L• Margin– Gross– Inventory– Shrink (+ or -)– Net/Total Margin• Expenses• COGS, Labor, DARHOIT• EBIT- what does it
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