Maximizing profitability in a hospital outpatient pharmacy.
This paper describes the strategies employed to increase the profitability of an existing ambulatory pharmacy operated by the hospital. Methods to generate new revenue including implementation of a home parenteral therapy program, a home enteral therapy program, a durable medical equipment service, and home care disposable sales are described. Programs to maximize existing revenue sources such as increasing the capture rate on discharge prescriptions, increasing "walk-in" prescription traffic and increasing HMO prescription volumes are discussed. A method utilized to reduce drug expenditures is also presented. By minimizing expenses and increasing the revenues for the ambulatory pharmacy operation, net profit increased from +26,000 to over +140,000 in one year.
D000553:Ambulatory Care / Q000191:economics*; D005376:Financial Management; D006699:Home Care Services / Q000191:economics; D006745:Hospital Bed Capacity, 300 to 499; D007182:Income; D007196:Indiana; D010607:Pharmacy Service, Hospital / Q000191:economics*