Shared Flashcard Set

Details

Econ Exam 3
N/A
151
Pharmacology
Professional
12/02/2012

Additional Pharmacology Flashcards

 


 

Cards

Term
Define Pharmacy and Thearpeutics Committee
Definition
An empowered body of experts and advisors who manage the formulary system
Term
What 4 branches can send something to P&T
Definition

1.  Nutrition

2. ADR

3.  MMIC

4.  Infectious disease

Term
What is the flow after P&T...2 stops
Definition
P&T --> Medical Executive --> Board
Term
Composition of P&T (6)
Definition

1.  Physicians (one-chair)

2.  Pharmacits (one-secretary, usually director of pharmacy)

3.  Nurses

4.  Administration

5.  Quality improvement managers

6.  Others (dietary, respiratory, radiology, lab)--Appointed by medical staff

Term

P&T Specifics:

 

1.  Who makes up the majority of voting members?

2.  Addresses what (7)

Definition

1.  Physicians

 

2.  Forumlary management; biologics; contrast agents; alternative meds; safety issues; quality improvement; policy and procedures

 

*Members should always disclose conflicts of interest and interaction with sales reps is governed by policies 

Term

Focus of Committee

 

1.  According to ASHP

2.  What government body must they comply with

3.  Selection of medications based on (4)

Definition

1.  Evaluate, educate, communicate, advise

 

2.  Joint Commission

 

3.  Evidence based:  efficacy, multiple indications, strength of study, needs of institution

Safe:  ADRs, Food interactions, Inc safety but more expensive, setting use specifics

Cost-effective

Ethical, legal, improve QOL, meets values of institution

Term
Policies set to uphold and suport actions of committee: (12)
Definition
(1)  ADR reporting (2) Drug Shortages (3) Pt bring in own meds (4) Process for when drug is approved on formulary (5) Therapeutic interchanges (6) Nonformulary requests (7) Newly approved FDA medications (8) Formular education (9) Recalls (10) Altenrative medications (11) Sample medicaitons (12) Pharmaceutical sales reps
Term
ADR Monitoring 4 things P&T Does
Definition

1.  Monitor and trend

 

2.  Identify areas to improve or eliminate ADR

 

3.  Educate on reporting

 

4.  Support Medwatch

Term
Medication Error 4 things P&T does
Definition

1.  Monitoring and trend

 

2.  Predict and prevent

 

3.  Educate

 

4.  Report to ISMP

Term
Define forumlary
Definition

Continually updated list of medicaitons and related information, representing the clinical judgement of pharmacists, physicians, and other experts in the diagnosis and/or treatment of disease and promotion of health

 

ASHP

Term

Individual New Drug Reviews

 

FDA Treatment Potnetial classifications (3)

Definition

1.  P - Priority Review

 

2.  S - Standard Review

 

3.  O - Orphan Designation

Term

Individual New Drug Review

 

FDA Chemical Types (8)

Definition

1.  New molecular entity

2.  New derivative

3.  New formulation

4.  New combination

5.  Already marketed, new manufacturer

6.  Alread marketed, new drug use

7, Marketed drug w/o approved NDA

8.  OTC Switch

Term
3 things P&T does to address drug shortages
Definition

1.  Generic substitution

 

2.  Therapeutic interchange

 

3.  Guidelines/Criteria fo ruse

Term
According to ASHP, what should be covered in drug evaluation document (11)
Definition

1.  Brand/Generic

2.  FDA approval information

3.  Pharmacology/MOA

4.  Indications (approved and unapproved)

5.  Dosage forms

6.  PK considerations

7.  Special populations

8,  Comparative information to similar agents

9.  Pivotal clinical trials

10.  Safety assessment

11.  Cost evaluation

Term

Formulary Rating

 

1.  Crteria based (4)

 

2.  3 nonformulary considerations

Definition

1.  Disease process; Age, Physician; Concomitant medicaitons

 

2.  Special order; use own medications; not available "in-house)

Term

1.  Define therapeutic interchange

 

2.  3 things to take into account when selecting one

Definition

1.  Exchange of medications in same clas or indication

 

2.  Safety; cost savings; shelf space

Term
Consensus...how is it gained (4)
Definition

1.  Policies

 

2.  Collaborations with key associates and members

 

3.  Subcommittees of P&T may be developed to address specific drugs and drug classses

 

4.  Communication b/t other committees.  

Term
Non-hospital P&T Dr. Shelley mentioned
Definition
Insurance companies
Term

Conflict definition

 

1.  Traditional are usually?

 

2.  Less contentious way to define

Definition

1.  Negative in nature

 

2.  An apportunity to understand and respond to the concerns of others

Term

Benefits of conflict

 

1.  What would be a benefit of disagreements about data or strategies

 

2.  When could not raising an issue prove dangerous for us as pharmacists

 

3.  What do managers need to create in their workplace culture?

Definition

1.  Can force teams to critically analyze assumptions

 

2.  Medication safety issues

 

3.  All members feel free to express their opinions knowing that they will be considered thoughtfully and respectfully

Term
What 10 things increase liklihood of conflict?
Definition

1.  Workloads heavier than normal

2.  New colleages or a new manager

3.  New work or procedures required

4.  Pharmacy understaffed

5.  Noise levels higher than normal

6.  Pts, supervisors, colleagus more demanding than normal

7.  Scheduling disagreement

8.  Inadequate understanding of job dutites

9.  Impression that pharmacist makes money, but technician does the work

10.  After a mediation error has occured.  

Term
Conflict may occur when there are differences in (4)
Definition

1.  Personalities

2.  Communication styles

3.  Decision making preferences

4.  Work approaches 

Term
What 3 things influence interpretation of events and can create conflict
Definition

1.  Individual perceptions:  race, ethnicity, gender, sexuality, impressions of other party

 

2.  Opinions

 

3.  LIfe experiences 

Term
3 types of conversations with conflict
Definition

1.  "What happened?" conversation

 

2.  Feelings conversation

 

3.  Identifity conversation

Term
A great deal of potential conflict can be avoided by communicating with people in a way they:
Definition
prefer to receive information
Term

People usually have default method for responding to conflict

 

1.  Approach linked to personal level of __ and __

 

 

Definition

1.  Assertiveness

 

2.  Cooperativeness

Term

Thomas-Kilmann Conflict Mode Instrument

 

5 management styles and the result of each

Definition

1.  Avoidance:  Lose/Lose

 

2.  Accommodation:  Lose/Win

 

3.  Compromise:  Lose/Lose

 

4.  Competing:  Win/Lose

 

5.  Collaboration:  Win/Win

 

*Individuals tend to favor the mode they are most comfortable with

Term
How is collaboratino a win-win
Definition
The process uncovers needs and interests of each party and enables them to reach mutually acceptable agreements
Term

Resolving competing interests can benefit from advanced preparation:

 

1.  Conflict resoluation pre-work includes (5)

Definition

1.  Analyzing your own interest and those of others

 

2.  Defining your desired outcome

 

3.  Considering natural points of agreement and intersection b/t your ineterests and others

 

4.  Listing factors that might derail the conversation and developing strategies to keep on track

 

5.  Paying attention to timing 

Term
5 Elements of a Collaborative Converstaion:
Definition

1.  Identify the problem

 

2.  Identify all possible solutions

 

3.  Decide which solution is best

 

4.  Determine how to implement the solution

 

5.  Assess the outcome of the solution 

Term

1.  Collaborative conflict resolution is difficult b/c it requires (2)

 

2.  Although not easy, why is collaboraiton preferred

Definition

1.  Time and effort from all parties; Sensitivity to the needs and feelings of others

 

2.  Focuses energy on attacking a problem instead of individuals.  

Term
When are pharmacy managers often requested to manage conflict within organizations?
Definition
When employees or pts are unable or unwilling to resolve the conflicts themselves
Term

Group sessions for managing conflict

 

1.  A ___ facilitator is helpful

 

2.  The facilitator should remind participants to separate ___ from ___ b/c ___ makes it easier to develop potential options

Definition

1.  Neutral

 

2.  Interests from Positions

Interests 

Term
A facilitated process will be most productive if:  (3)
Definition

1.  Ground rules for communication are established

 

2.  All parties are expected to voice their desired outcomes

 

3.  All parties are committed to resolving issue under discussion

Term
What 7 extra steps can a collaborative apprach in group conflict require?
Definition

1.  Spend extra time assessing participant needs/concerns

2.  Restating of the ground rules 

3.  Seek common ground early

4.  Allow various levels of negotiation

5.  Whenever possible, constitute subgroups with members who are not traditionally aligned

6.  Be sensitive to group and individual dynamics (ensure all parties get to express themselves)

7.  Be sensitive to role as facilitator and remain neutral

Term
6 strategies managers can use to manage group conflict
Definition

1.  Establish conflict protocols

 

2.  Equip employees with tools and confidence to manage conflict

 

3.  Screen for conflict competence during hiring and promotion

 

4.  Refuse to hear arguments until parties have exhausted attempts to reach their own consensus

 

5.  Establish conflict escalation protocol

6.  Make conflict resoluation process transparent

Term
6 Techniques to encourage productive and respectful debate
Definition

1.  Ask questions rather than express opinions

2.  Ask for advice and concerns before making decisions

3.  Expect staff to express opinions and reward individuals for doing so

4.  Hold meetings in which one person is designated as devil's advocate

5.  Ask staff to provide list of pros and cons for various options

6.  Be open to feedback

Term
7 Conflict diffusing converstation starters
Definition

1.  Discuss each others persepectives

2.  Acknowledge how you might have contributed to conflict

3.  Let people talk

4.  Consider interest rather than position

5.  Collect data to understand prospective

6.  Establish objective standards for making decisions

7.  Partner in problem solving

Term
Examples of discussing each others perspective (2)
Definition

1.  What happened from your perspective

 

2.  May I share how I see things?

Term
Exampls of acknowledging how you might have contributed to conflict
Definition
I asusmed you knew that I wanted extra syringes, I wasn't explicit about that so I understand why they were not ordered.
Term
Example of let people talk (2)
Definition

1.  I'm interested in your view of what happened.

 

2.  Tell me more about that

Term
Example of consider interest rather than position
Definition
Help me understand what you hope to achieve
Term
Example of collect data to understand the perspective 
Definition
You say that you disagree with how I mange the pharmacy.  Can you give me a specific example of things that need to be different?
Term
Example of establish objective standars for making decisions
Definition
Let's agree to use regional salary data to determine a fair rate of pay for your new position
Term
Example of partner in problem solving (2)
Definition

Let's work together to propse some potential solutions

 

Why don't we make a list of possible options and then rewivew the pros and cons of each

Term

Florence Nightingale

 

1.  War surved in

2.  First real example of a __ nurse

3.  Established what

4.  Separated ___ from ___

5.  Established what 2 levels of nursing

6.  Her nursing text was titled

Definition

1.  Crimea

2.  Trained

3.  Nursing curriculum

4.  Education from service

5.  Staff and Administrators

6.  Notes on Nursing

Term

Civil War Nursing

 

1.  WHere did nurses come from and what did this lead to the recognition of need of

 

2.  First 4 schools of nursing in what US cities

Definition

.  1.  Volunteer citizens which indicated need for trained nurses

 

2.  Boston; New Haven; New York; Philadelphia

Term

Early Nursing Education

 

1.  Began where?

 

2.  Standardized curriculum?

 

3.  Role of students

 

4.  Location of first professional (BSN) program

Definition

1.  Hospitals

 

2.  No

 

3.  Cheap labor

 

4.  University of Minnesota

Term

Nursing Milestones Early 1900s

 

1.  1900

 

2.  1903

 

3.  1911

 

4.  1912

Definition

1.  Am Journal of Nursing

 

2.  First state requirement for licensure (NC)

 

3.  Am Nurses Assn (ANA)

 

4.  Naiotnal League of Nursing Education (NLN)

Term
Nurses in World War I
Definition

1918 Army School of Nursing

 

Nurses drafted

Term
1920-1929
Definition
1.  Goldmark report (sociologist) emphasized need to move nursing to higher ed and public health nursing evolved to provide major source of health care prior to stock market crash
Term
Who was Annie Warburton Goodrich?
Definition
First Dean of Yale School of Nursing and First Woman Dean at Yale
Term
What was Mary Brekenridge known for?
Definition
Frontier nursing service
Term

WWII Nursing

 

1.   What act created US Cadet Nurse Corp

 

2.  What rank did nurses have

 

3.  Desegregation?

Definition

1.  Bolton Act

 

2.  Nurses commissioned as officers

 

3.  Yes

Term
Who started the Associate Degree Nursing (ADN) education program
Definition
Mildred Montag
Term
Nursing Traditions (3)
Definition

1.  Cap

 

2.  Pinning

 

3.  Uniforms

Term

Nursing Diploma Program

 

1.  Length

 

2.  Affiliated with?

 

3.  Where do grads work

 

3.  Growing or shrinking

Definition

1.  2-3 yrs

 

2.  Hospital

 

3.  Hospital or Inpt facility

 

4.  Shrinking

Term

Associate Degree Nursing (ADN)

 

1.  Length

 

2.  Location

 

3.  Popular with what students

 

4.  Focus

 

5.  Where grads work

Definition

1.  2 yrs

 

2.  Community colleges

 

3.  Older students

 

4.  Technical skill/pt care

 

5.  Hospitals or other "structured" nursing facilities

Term

BSN

 

1.  Length

 

2.  Base of curriculum compaed with diploma and ADN

 

3.  Entry point for

 

4.  Required for (2)

Definition

1.  4 yrs

 

2.  Broader

 

3.  Professional nursing practice

 

4.  School nursing; Admission to graduate programs

Term
BSN Curriculum Areas of Emphasis (5)
Definition

1.  Health Science Core

 

2.  Science and Math

 

3.  Psychology

 

4.  Liberal Learning Outcome (Comm, Ethics, Math, Creativity)

 

5.  Nursing Science

Term
3 Requirements for RN Licensure
Definition

1.  High School Graduate

 

2  Graduate from accredited school of nursing (Diploma, ADN, BSN)

 

3.  Pass NCLEX

Term

Licensure Continued

 

1.  Conferred by who?

 

2.  Must be licenced in

 

3.  How often does WV license have to be renewed?

Definition

1.  State

 

2.  State of practice, although some states have compact whereby your license is good in multiple states

 

3.  Annual

Term
5 Nursing Roles
Definition

1.  Member of healthcare team

 

2.  Provide patient care

 

3.  Provide patient educaiton

 

4.  Manage patient care

 

5.  Patient advocate

Term

1.  Board that regulates nursing in WV

 

2.  What 2 aspects does it regulate?

Definition

1.  WV Board of Examiners for Registered Professional Nurses

 

2.  Nursing education programs

 

Nursing Practice (Licensure)

Term
3 Level of Graduate Education in Nursing
Definition

1.  Advanced Pracice Nursing (APRN with MSN or higher)

 

2.  Doctorate Nurse Practice (DNP)

 

3.  Doctor of Philosophy (PhD)

Term

APRN

 

Define

Definition
Umbrella term given to RN who has met advanced educational and clinical practice requiremetns, at a minium of MSN, beyond the basic nursing education and licensing required of all RNs and who providde direct care to patients  
Term
4 Types of APRN
Definition

1.  Nurse Practitioner (NP):  Prescriptive authroity

 

2.  Clinical Nurse Specialist (CNS):  Consultation, research, educaiton, administration

 

3.  Certified Nurse Midwife (CNM):  well-woman OBGYN and low risk

 

4.  Certified Registered Nurse Anethetiss (CRNA):  Oldest; adminsiter anesthetics under variety of settings

Term

Certification of Advanced Practice Nurses

 

1.  Does it add to legal scope?

Definition
1.  No, really just affords title protection:  Fed Govt:  certification is credentialing process by which non-governmental agencies or associations recognize individuals who have met specified requirements
Term

DNP

 

1.  What occurs in 2015

 

2.  Define what DNP allows nurses to do

Definition

1.  Qualification for ARNP will mandate DNP

 

2.  Impact practice at the highest level, through practice expertise and the use of evidence to lead organizational and policy change

**Prepares nurse for 1 of 4 ARNP roles

Term
4 Rationale for MOving toward DNP
Definition

1.  Clear link b/t higher levels of nursing eduaiton and positive pt outcomes

 

2.  REcognition of overall increase in complexity of pt care today

 

3.  Critical need for increased quality and pt safety

 

4.  Need to increase doctoral educaiton, clincially prepared nursing faculty

Term
What areas are increased in the DNP degree (5)
Definition

1.  Organizational and Systems Leadership

 

2.  Clinical Scholarship

 

3.  Analytical Methods for Evidence Based Practice

 

4.  Information/Systems Technology

 

5.  Healthcare policy/advocacy

Term

Ph.D. Nursing

 

1.  Why?

Definition
1.  Prepare researchers who will contribute to growth of nursing science through advances in theoretifcal foundation of nursing practice and healthcare delivery
Term

Prescriptive Authority for APRN

 

1.  Do all states allow some form?

 

2.  IN WV what 4 branches must they be licenced under

 

3.  Other requirements beyond certification

Definition

1.  Yes (may be independent, collaborative, suprvised)

 

2.  CRNA, CNM, Clinical Nurse Specialist; CNP

 

3.  Pharmacology undergrade and at least 45 hrs of grad level pharm; documentation of use of pharamcology in clinical practice; evidence of 15 advanced pharm hrs within 2 yrs prior to application for authrity; collaborative practice with UNENCUMBERED MD

Term

Prescriptive Authority APRN

 

1.  WV prescribing schedules

 

2.  Must file ___ Registrations with BOE

 

3.  What certification must be maintained

 

4.  # of hrs of approved pharm education prior to renewal

Definition

1.  C III-V

 

2.  DEA b/c the board maintains DEA #s

 

3.  Active, uninterrupted national certification

 

4.  8 hrs of approved BOE coursework

Term
Drugs Excluded from APRN Prescriptive Authority (6)
Definition

1.  C I/II

 

2.  Antineoplastics

 

3.  Radio-pharamceuticals

 

4.  General anesthetics

 

5.  MAO inhibitors (unless colab with psychiatrist)

 

6.  CIII Limited to 72 hr w/o refill

Term

Prescriptive Exclusions APRN Con't

 

1.  C IV/V rules

 

2.  Phenothiazine limited to

 

3.  Non-controlled antipsychotics and sedative limited to

Definition

1.  Up to 90 day supply w/ 1 refill...script expires in 6 months with following exeptions:

 

2.  30 days non-refillable

 

3.  90 days...no more than 1 refill and shall expire in 6 months

Term

Information Required on Prescription Form (7)

 

Definition

1.  Name, address, phone # of prescribing nurse

2.  Name, DOB, address of pt

3.  Date of script

4.  Full name of drug, dose, route, directions

5.  Number of refills

6.  DEA when required

7.  Prescriptive authority number issued by BOE

Term
Functions of PBMs (6)
Definition

1.  Formulary development and management

2.  Pharmacy networks

3.  Generic substitution

4.  Rebates and discounts

5.  Clinical and trend management programs

6.  Electronic claims processing 

Term
3 Scenarios for Payment Involving PBMs
Definition

1.  Employers/other 3rd party payers pay insurers who pay PBMs

 

2.  Employers/other part payers pay PBMs directly

 

3.  Pts pay insurers who pay PBMs

Term
Clients of PBMs (7)
Definition

1.  Federal government

2.  State and local government

3.  Employwers

4.  Unions

5.  HMOs

6.  Insurance companies (BCBS)

7.  Other 3rd party plan administrators

Term

1.  2 top PBMs

 

2.  3 other PBMs

Definition

1.  Medco/Express Scripts (60% all mail order); CVS/Caremark

 

2.  Wellpoint pharmacy

PharmaCare

MedImpact

Term
Ideal vs reality of PBM
Definition

Ideal situation is provide access to needed medications while controlling costs

 

Reality:  controlling short term costs rather than long-term total healthcare costs

Term
2 Factors Increasing Pharmacy Costs
Definition

1.  Increased drug utilization:  Moral hazard (insurance induced demand); DTC advertising; Marketing to health care practitioners; New therapies

 

2.  Increased drug prices:  Older, less expensive drugs replaced by newer more expensive drugs

Term
2 Ways to control drug costs
Definition

1.  Control utilization:  pt cost-sharing (copay); Pt and health professional educaiton; formularies and other restrictions/incentives

 

2.  Control prices:  manufacturer prices (rebates); pharmacy reimbursement

Term
4 common tools at disposal of PBM
Definition

1.  Formulaires

 

2.  Disease management programs

 

3.  Three-tier copayments

 

4.  Mail order

Term

Formularies (Express Scripts)

 

1.  Therapeutic Assessment Committee (TAC)

 

2.  Value Assessment Committee (VAC)

Definition

1.  Composed of clinical pharmacists and medical director and examines clinical evidence for recommendations

 

2.  Assesses cost-benefit of optional drugs and makes formulary recommendation

Term

Disease/Case Mangement Programs

 

1.  Goal

2.  Who is often primary service provider for this type of program?

Definition

1.  To manage high risk patient populations to reduce costs b/c 1-5% of sickest chronic pts can generate 25-50% of costs

2.  Nurses:  encourage educaiton and compliance

Term

Tiered Copayments

 

1.  What are the usual tiers (4)

 

2.  3 things it accomplishes

Definition

1.  Generic; Preferred brand; Non-preferred brand; Specialty

 

2.  Steers pts toward preferred drugs increasing rebates

Makes pts share cost of more expensive drugs

Gives pts access to drugs not on preferred list

Term

Mail Order

 

1.  Reimbursement rates compared with community pharmacies

 

2.  2 employer options

 

3.  Does it decrease costs when PBMS own their own mail order pharmacy?

 

4.  3 challenges for community pharmacy

Definition

1.  Lower

 

2.  Mandatory or optional (usually incentivized)

 

3.  Yes

 

4.  TAkes away business; hard to screen for DDIs if pt gets part from mail and part from community; community pharmacies may be asked to counsel for mail medications

Term

1.  Define pricing "spread"

 

2.  Findings of JAPhA Study

Definition

1.  The difference b/t what the PBM pays the pharamcy for the drug ingredient cost portion of a prescription and what the PBM charges the employer for the drug ingredient cost of the same prescription

 

2.  Mean price spread was $12.29 but wasw even higher for generic drugs than brand name drugs

Term
5 Types of Alligations Leading to Current PBM Lawsuits
Definition

1.  Improper therapeutic substitution

 

2.  Improper disclosure/sharing of manufacturer rebates

 

3.  Improper payments to plans to persuade them to switch PBMs

 

4.  Antistrust violoations (common amongst pharmacists)

 

5.  Defrauding of pts

Term

1.  According toe GAO, do PBMs reduce drug cost?

 

2.  What was the primary source of revenue for PBMS when they came on the market?

 

3.  What is it now (4)?

Definition

1.  Yes

 

2.  Revenue from administrative fees (ie, fee for each script processed)

 

3.  Mix of admin fees, rebates/other payments from manufacturers, "spread" differences, feeds for other services (disease management)

Term
Difference in the new "transparency model" (2)
Definition

1.  Full disclosure of rebates obtained from pharmaceutical manufacturers...some models even require that rebates be passed along to the plans

 

2.  Elimination of the "spread"

Term

1.  Define PBM rebates

 

2.  Paid to who?

 

3.  2 effects

Definition

1.  Money from pharmaeeutical manufacturers to PBMs in exchange for formulary/PDL inclusion...volume discount

 

2.  Federal and State Programs

 

3.  Reduces plan costs; Lowers copays for members

Term

1.  Pharmacy has a valuable product, but most savings come from?

 

2.  What can ensure that medications are used correctly and that patients actually get better?

Definition

1.  Effective medicaiton use

 

2.  Patient counseling

Term

1.  What is one of pharmacies largest investments?

 

2.  Purchasing is what

Definition

1.  Inventory

 

2.  An asset management process that merits focused attention and forethought

Term

1.  75% of overall pharmacy business expenses may be accounted for by what?

 

2.  What does this practically mean given a constant sales level?

Definition

1.  Cost of goods sold (COGS)

 

2.  Profits can potentially incrase or decrease by 15% for every 1% change in COGS

Term
5 Purchaing Objective
Definition

1.  Right products

 

2.  Right quantity

 

3.  Right time

 

4.  Right price

 

5.  Right vendor

Term
What should decisions be driving by for your product mix?
Definition
Target market
Term
Research Stretegies for Finding your Target market (6)
Definition

1.  Personal observations

2.  Scanning media and press

3.  Knowledge of prescribing habits of local physicians

4.  Product movement reports, statements from insurance claims, DURs

5.  Your expectations or those of your organization

6.  Organizational factors such as preferred practice, mission, space restricitons, and budget

Term
3 factors influencing whether or not to stock a product
Definition

1.  Procurement costs

 

2.  Storage, maintenance, delivery

 

3.  Third-party patyments

Term
What dictates drugs stocked in hospital pharmacy?
Definition
Formulary which hospital pharamcy director must assure meets budget
Term

Right Quantity

 

1.  Want to avoid?

2.  Define:  Stock depth

3.  Equation for stock depth

Definition

1.  "Out of stock" incidents...but also don't want too much which could go bad

2.  The quantity at which you may be reasonably certain the item will be available when needed...AKA:  Reorder point

 

3.  = (review time + lead time) x avg demand + safety stock

Term

Right Time to Order

 

1.  Variables to consider

2.  What does having safety stock increase?

3.  INventory carrying/holding cost includes what 3 things?

4.  Define Just in time purchasing

Definition

1.  All factors in stock depth formulation and inventory investment

2.  Carrying costs assocaited with inventory

3.  Capital costs; Storage costs; Cost of risk

4.  As the last unit of an item sells, the next unit arrives before it is needed

Term

Right Price

 

1.  4 components

Definition

1.  Product purchase price

 

2.  COGS

 

3.  Carrying Cost

 

4.  Procurement costs (personnel time)

Term

Procurement Costs

 

1.  What can lower this?

 

2.  4 tools to minimize

Definition

1.  More efficient purchasing

 

2.  Quantity discount

Cash discount

Product bundling

Minimum purchasing 

Term
Quantity discount
Definition
Reduction in price gained by buying in quantity, either on a single order or across a set period of time
Term
Cash Discount
Definition

Reduction in price for prompt payment

 

Term
Product bundling
Definition
Reduction in price of one item gained by simultaneous purchase of another product, often related
Term
Minimum Purchasing
Definition
Reduction in price of a featured generic or brand medication along with a minimum generic order
Term
Word or warning on discounts
Definition
No matter how good the price, if you cannot move inventory, it may be bad in the long run
Term

Right Vendor

 

1.  2 major types of vendors

 

2.  Things to consider when choosing a vendor (7)

Definition

1.  Full-service wholesalers

Buying groups that are cooperative organizations used by smaller organizations to increase buying power by combining orders

 

2.  Delivery schedule; Frequency of out-of-stock situations; breadth of merchandise lines and assortments; assistance with product placement and floor layout; Available technology and other services; Returned goods policies; financing and credit terms and options

Term

Economic Order Quantity (EOQ)

 

1.  Define

 

2.  Equation

Definition

1.  Ideal time for purchases occurs at point where total costs are minimized because procurement and carrying costs are equal and this is referred to as EOC

 

2.  = SQRT (2DP/CI)

 

D = demand in units; P = procurement cost $; C = unit cost to business $; I = inventory carrying cost (% of investment in inventory, may be estimated to include capital costs, storage, insurance, taxes, other risks)

Term
Procurement procedures (5 steps)
Definition

1.  Submit order

 

2.  Reconcile what is payed for and what is recieved

 

3.  Inspect products for damage and short expiration dates

 

4.  Products should be stocked properly

 

5.  Rotate inventory

Term

Visual Inventory Control Method

 

1.  Define process

 

2.  Good and bad about it

Definition

1.  Visually observing number of units in inventory and comparing them with a prescribed list of how many units should be carried (stock depth)...ordering more when below desired number

 

2.  Good is that it is informal, convenient, and inexpensive

Bad:  Lesss effective with greater error potential

Term

Periodic Inventory Control Method

 

1.  DEfine

 

2.  Good and Bad

Definition

1.  Stock counts at intervals defined by policy, and compares the number on hand to predefined minimums (determined stock depth)

 

2.  Good:  Allows for some basic analysis

Bad:  May require more time than visual method; measures only a single time point...not continuous

Term

Perpetual Inventory Control Method

 

1.  Define

 

2.  Good and Bad

Definition

1.  Monitor inventory constantly using technology

 

2.  Good:  can generate a report at any moment; provides most accurate and comprehensive picture of both units and actual financial investment in inventory

 

Bad:  None listed

Term

Inventory Turnover Rate (ITOR)

 

1.  Definition

 

2.  Calculation

Definition

1.  The rate at which supply of an item is exhausted and replaced

 

2.  ITOR = COGS/Average Inventory

 

Average Inventory = (beginning inventory + ending enventory) / 2

Term
COGS
Definition
Cost of goods sold:  refer to the inventory costs of those goods a business has sold during a particular period
Term
You want ITOR high because it indicates (3):
Definition

1.  Reduced investment in inventory, freeing cash for other services/activities

 

2.  Increased retun on inventory investment

 

3.  Possible out-of-stock situations (if ITOR is too high)

Term

Variabiliyt in inventory

 

1.  Define Pareto's law in pharmacy context

Definition
1.  80% of the value of inventory is comprised of 20% of actual items in inventory so you should spend the majority of your time managing that 20%
Term

Managing Returns

 

1.  Usual grace period from wholesalers

 

2.  Source of information for returned goods policies

Definition

1.  48 hrs

 

2.  Red Book

Term

Unclaimed Prescriptions

 

1.  Define

 

2.  Can cause higher what

Definition

1.  Any prescription "that has been presented in a pharmacy...for which a patient does not wait or return to pick up the prescription, arrange to have it picked up for him/her, or have it delivered"

 

2.  Inventory/associated costs

Term

Monitoring Shrinkage

 

1.  What counts don't match that might be result of shrinkage

 

2.  Define shrinkage

Definition

1.  Shelf count and record count

 

2.  When items are lost, stolen, or misplaced...potential cause for inventory cost as a percentage of sales to increase...can be interanal or external theft

Term
Deterring Internal Theft (6)
Definition

1.  Background checks

2.  Clear employee purchases through register by manager or another worker

3.  Cosigning purchases for another employee

4.  Package inspections

5.  Stricktly controlled access to inventory storage areas

6.  Provide personal storage (eg lockers) areas for employees

Term
Deterring External Theft (6)
Definition

1.  Pharmacy layout plan

2.  Adequate lighting

3.  Security cameras/mirrors

4.  Avoid obstructive fixtures/displays

5.  Place cash register/sales clerk near front door

6.  Pay attention

Term
Technology Used in Inventory Management (5)
Definition

1.  Bar coding

2.  Point-of-sale scanners (utilized as perpetual inventory monitor)

3.  RFID

4.  Online applicaitons

5.  Inventory management software

Term

Shortages

 

1.  Causes (6)

 

2.  What is key in managing them

Definition

1.  Raw materials, delayed production, company mergers, recalls, market shifts, incrased demand

 

2.  Communication

Term

1.  Merchanidising is?

 

2.  Define Planogram

Definition

1.  Visual selling

 

2.  Merchandising blueprint that designates stock levels, product positions, and number of product facings

Term
6 merchandizing principles
Definition

1.  Shelf space and shelf facing have prime tenants

2.  Positioning a product next to a leading seller in a product category increases it sales

3.  Best shelf position is b/t waist and eye level

4.  Most eyes (and sales) anchor to the right

5.  Shelf sign in front of a product increases sales

6.  Clustering simialr producs enhances visibility and eases selection

Term
3 sources of higher drug expenditures 2000-2001
Definition

1.  Increased # of Rx's

 

2.  Price increase

 

3.  Shift to higher cost drugs 

Term
What 7 categories accound for most drug cost increases
Definition

1.  Neurology, mental health, pain

2.  Endocrine and diabetes

3.  Cardiovascular

4.  Oncology

5.  Musculokeletal and rheumatology

6.  Respiratory

7.  Anti-infective

Term

1.  Advocates for pharmaceutical industry insist costs justified for what 3 reasons

 

2.  How much does it cost to bring to market?

Definition

1.  R&D; Tremendous value medicataions; High risk of industry

 

2.  $802 million

Term
2004 breakdown of promotional drugs spending from most % to least
Definition

Samples

 

Sales rep contact

 

DTCA

 

Journal Ads

Term
4 Characteristics of Sales Reps
Definition

1.  Presentabilty/appearance

 

2.  Outgoing personality

 

3.  Excellent interpersonal skills

 

4.  Education and certificataion

Term

Representative Taloring approach..what do do with the following clinican types

 

1.  Friendly

 

2.  Skeptical

 

3.  High prescriber

 

4.  Prefers competing product

5.  Refuses to see rep

Definition

1.  Frame interactions as gesture of friendship

 

2.  Use literature, humility, and appeal to their "high intellect"

 

3.  Make best effort to establish personal connection, best gifts

 

4.  Find out why, try to capture a niche

 

5.  Try to work through staff to get useful informaiton

Term
6 Stages of Rep/Provider Interaction
Definition

1.  Acknowledgement of relative status (valueable time)

2.  Find out what is know

3.  Drop some knowledge on them

4.  Provider resistance

5.  Reinforce role (compliments/sympathy)

6.  Closure:  ensure opportunity for return, gifts, obligation

Term
Does detailing influence prescribing?
Definition
Yes, it pushes higher cost, less rational prescribing by physicians
Term
3 Representative Objectives
Definition

1.  Sell product

 

2.  Inform and educate professionals

 

3.  Gather information:  use of product within organization; use of competitors products by organization; local treatment policies

Term
4 tricks fo the rep trade
Definition

1.  Appeal to authority

 

2.  Bandwagon effect

 

3.  Appeal to pity

 

4.  Red herring appeal

Term
AMA Master File and Reps
Definition

Sold to industry for decades so they can link prescripting data with physician identifiers (16% of AMA revenue)

 

Physicians can "opt-out" of this if they choose, but few know that they can do so...also must be renewed every 3 yrs and manufaturers have 90 days to comply after the person opts out

Term

Off-label or Extralabel: estimated hospital pts on at least 1 off-label drug

 

1.  Can reps pitch them

Definition
1.  No, becuase these off-label uses cannot be promoted and drug-makers are barred from pitching doctors direclty on them
Term

Topomax

 

1.  __ out of 10 scripts not for epiliepsy

Definition
1.  8...others for cluster HA and migraine prevention
Term
Off-label use dangers
Definition

1.  No up-to-date S/E or clinical research on products

2.  Potential for sever negative S/E

3.  Heightens chance for future physician malpractice suit from pt

4.  Off labe means it is not FDA approved

Term
2 Primary industry goals with samples
Definition

1.  Influsence prescribint habits/get pts on meds

 

2.  Representative access

Term
5 arguments for samples
Definition

1.  Source of meds for indigent

2.  Reduced pt cost

3.  Provided can test efficacy and tolerability before committing to long-term use

4.  Prescribed can gain experience with product

5.  Can start thearpy immediately

Term
7 Arguments Against Samples
Definition

1.  Loss of pharmacist review

2.  Clinician unfamiliarity increases chance of med errors

3.  Labeling/documentation often lacking

4.  Storage concerns

5.  Estmated that only 1/2 reach pt

6.  Ethical concerns with personal use

7.  Only branded expensive drugs are sampled increasing overall cose of healthcare

 

*82% of sample users had health insurance the entire year!!!

Term

1.  Percieved influence of reps you compared with other physicians

 

2.  What size gift needs to be given to influence behavior?

Definition

1.  You think you aren't, but other sare

 

2.  Any size gift imposses a sense of indebtedness and obligation to reciprocate

 

**Most physicians believe they are not influenced by rep visits...but they are!

Term
Explain benefits of sample vouchers with pharmacies (3)
Definition

1.  Takes samples out of practice

 

2.  Permits better ADE screening

 

3.  Allow for better pt instructions

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