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Evaluating Hospital Pharmacy Inventory Management and ...

Evaluating Hospital Pharmacy Inventory Management and Revenue Cycle Processes White Paper Guidance for Healthcare Internal Auditors Introduction Pharmacy Inventory Management is a complex but critical process within the healthcare delivery system . Without adequate Pharmacy Inventory Management practices, hospitals run the risk of not being able to provide patients with the most appropriate medication when it is most needed. Additionally, pharmacies'. dispensing patterns and drug selection choices may have a direct effect on the affordability of care . Utilizing drugs that are non-contracted or not on the formulary may be more costly to the patient or may result in a lower than expected reimbursement. In addition to patient safety and financial considerations, stringent regulatory requirements pertaining to drug traceability, Inventory reporting and Inventory Management elevate the importance of maintaining effective control over drug inventories in today's ever- expanding healthcare compliance environment.

Pharmacy inventory management is a complex but critical process within the healthcare delivery system. Without adequate pharmacy inventory management practices, hospitals run the risk of not being able to ... procurement is essential for addressing cost and promoting patient safety and quality care. To ensure pharmacy procurement activities are ...

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