Financial Effects and Constraints
- Submitted by: rybafamily
- Views: 561
- Category: Other
- Date Submitted: 04/30/2012 07:23 AM
- Pages: 3
- Report this Essay
Financial Effects and Constraints
Operations management (OM) consists of organizing and facilitating process flows within a certain department or business. OM is used in every kind of business but for the purpose of this paper the OM is in a pharmacy setting. The topic of discussion is the effect of a pharmacy on OM and discussion of finances. Revenue constraints and financial factors do influence the decision of the pharmacy in whether to continue operations or to stop them. Importantly, one must understand which financial reports to use to base their decisions as well as how to use forecasting techniques to support the business. Starting with the effects of a pharmacy on the OM is of interest because of its uniqueness in health care.
Effects of a Pharmacy on Operations Management
Pharmacies have a great effect on OM with or with out being associated with a health care facility. The effects are incorporating major activities of the hospital, clinic, or long term care facility with their daily processes. Also, adjusting to the everyday orders, to the emergency orders, and the outside orders to create a cohesive work environment. Some other effects are staffing, recognizing the inside consults, getting clarification of prescriptions and in-house med orders. Making sure the turn around times are sufficient and staff is used adequately are also important effects. There are many effects that a pharmacy has on OM these are some and then there is also the retail side of things that makes the process profitable.
The OM of a pharmacy is complex and highly utilized. Keeping these effects in mind and using the appropriate tools to measure every aspect will help the OM sustain success in the pharmacy. Incorporating the major activities that come from the internal departments can be a very busy, and time consuming detail that must never be over looked. Cooperation and communication for these internal customers will be key to providing...
Operations management (OM) consists of organizing and facilitating process flows within a certain department or business. OM is used in every kind of business but for the purpose of this paper the OM is in a pharmacy setting. The topic of discussion is the effect of a pharmacy on OM and discussion of finances. Revenue constraints and financial factors do influence the decision of the pharmacy in whether to continue operations or to stop them. Importantly, one must understand which financial reports to use to base their decisions as well as how to use forecasting techniques to support the business. Starting with the effects of a pharmacy on the OM is of interest because of its uniqueness in health care.
Effects of a Pharmacy on Operations Management
Pharmacies have a great effect on OM with or with out being associated with a health care facility. The effects are incorporating major activities of the hospital, clinic, or long term care facility with their daily processes. Also, adjusting to the everyday orders, to the emergency orders, and the outside orders to create a cohesive work environment. Some other effects are staffing, recognizing the inside consults, getting clarification of prescriptions and in-house med orders. Making sure the turn around times are sufficient and staff is used adequately are also important effects. There are many effects that a pharmacy has on OM these are some and then there is also the retail side of things that makes the process profitable.
The OM of a pharmacy is complex and highly utilized. Keeping these effects in mind and using the appropriate tools to measure every aspect will help the OM sustain success in the pharmacy. Incorporating the major activities that come from the internal departments can be a very busy, and time consuming detail that must never be over looked. Cooperation and communication for these internal customers will be key to providing...