The common 340B inventory model is a Replacement model. In this model, pharmacies fill prescriptions from their existing stock and manage their inventory like usual; third-party 340B administrators then reconcile medications dispensed to 340B patients, and replenish the pharmacy’s stock using the covered entity’s 340B drugs. Another, much more efficient way, is the Direct Model,…
We’ve been taking physical pharmacy inventory since 1976 at IMC Pharma, and we’ve seen it all. With inventory season around the corner these few tips can help reduce confusion and keep your inventory levels at par. First, It’s important to clear out the receiving area. You don’t want to accidentally count recently received inventory that…
The best in pharmacies turn their inventory 10-12 times per year. Increasing inventory turns is likely one of the best ways to flatten or even decrease pharmacy drug spend in an era of drug shortages, increasing drug costs (5% to 20% annually) and a drug inflation rate of 7%. At IMC Pharma we have been…