Financial Management for Health-System Pharmacists

Financial Management for Health-System Pharmacists

by Andrew L. Wilson Pharm.D., FASHP

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In an era of skyrocketing drug costs, changing reimbursement, pharmacist and technician shortages, and a seemingly permanent "do-more-for-less" era of hospital and health-system management, every management decision that a pharmacy manager makes has financial implications. Success as a manager means understanding - and then mastering - the basics of finance and accounting as practiced in institutional health care. Financial Management for Heath-System Pharmacists provides pharmacy managers with a set of fundamental financial management tools as they relate not only to pharmacy department management, but to the management of the hospital and health care system.

Chapters include information on:

* Financial accounting principles
* Hospital financial management
* Budgeting principles
* Forecasting pharmaceutical expenditures
* Cost management basics
* Controlling operating results

Product Details

ISBN-13: 9781585283194
Publisher: ASHP
Publication date: 09/30/2008
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 336
Sales rank: 1,071,258
File size: 7 MB

About the Author

Dr. Wilson received his B.Sc. Pharm from the University of Connecticut in 1976 and his Pharm.D. from Wayne State University in 1978. Dr. Wilson has served as the Chief Pharmacy Officer of the National Institutes of Health (NIH) Clinical Center in Bethesda, MD, and as the Health System Director of Pharmacy and Associate Dean of the School of Pharmacy at Virginia Commonwealth University in Richmond, VA. He is currently Managing Consultant with McKesson Health Systems Pharmacy Optimization Group.
Dr. Wilson’s interests are in the area of health system pharmacy financial and operational management and benchmarking, and in healthcare information systems and automation. Dr. Wilson is the author of over 60 articles, chapters, reports, letters and editorials in the medical and pharmacy literature, and has edited three pharmacy management books in addition to his editorship of Financial Management for Health-System Pharmacists.

Table of Contents

Foreword vii

Preface ix

Contributors xi

Chapter 1 Review of Financial Management and Cost Accounting Principles 1

Chapter 2 A Review of Hospital Financial Management and Cost Accounting 27

Chapter 3 The Health Care Budget Process 47

Chapter 4 Forecasting Pharmaceutical Expenditures 63

Chapter 5 Understanding Drug Expense Using Administrative Data 77

Chapter 6 Financial Management of Human Resources 103

Chapter 7 Cost Management Basics 111

Chapter 8 Budget Variance Analysis and Controlling Operating Results 135

Chapter 9 Financial Aspects of Pharmaceutical Contracts and Supply Chain Management 155

Chapter 10 Budgeting Revenue 167

Chapter 11 Pharmaceutical Reimbursement 179

Chapter 12 Benchmarking and Productivity Analysis 189

Chapter 13 Strategic Financial Planning 207

Chapter 14 Financial Planning and Assessment for Pharmacy Education and Research Programs 225

Chapter 15 Outsourcing Pharmacy Services 247

Chapter 16 Building the Financial Plan for a New Pharmacy Service 253

Chapter 17 Entrepreneurial Opportunities-Beyond Traditional Hospital Pharmacy 273

Glossary 305

Index 315

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