Finding the Right Formula for ROI

right time for roiIn the last issue we discussed the issues with the ‘time is money’ approach to a return on investment analysis. Now let’s turn to a better, but still flawed version: Time saved = time to reallocate = money. This is possibly true. As we saw above, reallocating time saved to reducing stress and errors can be a valid – albeit soft – ROI.

If the time is reallocated to income producing events (i.e. med reviews) then the value is the net income from the new event. If, however, the time is reallocated to cleaning and tidying the dispensary, or filing paperwork, then the value will be difficult to determine and will be a very soft ROI indeed.

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Trend: What is Pharmacy Load Balancing?

Trend: What is Pharmacy Load Balancing?

Managing the operations of multiple pharmacies is challenging—especially in regards to staffing.

Have you ever thought about the idea of an agile staffing model? A solution that, if implemented, makes each one of your locations and pharmacists more efficient by automatically balancing the workload company-wide? What if this model could reduce payroll costs without reducing customer service?

If you’ve ever dreamed of a staffing model of this nature (don't worry, it’s not that weird), you’re not alone. Pharmacy load balancing (or OutScripting®) is here, and it’s a gamechanger.

But how?

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UK to make it easier for pharmacies to merge

Candian Healthcare Network

English health authorities want to reduce costs by encouraging greater use of centralized dispensing model.

The British government is considering new rules that would make it easier for pharmacies to amalgamate.

England’s Department of Health outlined its plan in meetings with pharmacy associations last month. The plan comes hard on the heels of a 6% reduction in pharmacy funding set to commence this October.
It seems clear that you are proposing to radically change the market with a real paucity of knowledge essential for good decision making

That amounts to a £170 million (CDN $320 million) reduction in dispensing or other fees paid to pharmacies in a healthcare system where most drug costs are covered by the government.

It now appear key to achieving this reduction are major changes to the number of pharmacies in the England.

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