Datarithm: From the Desk of…. Dan Sullivan, VP of Sales & Marketing

“Play Like a Champion Today” – Notre Dame

“The Process” – Alabama

“A Michigan Man” – Michigan

Those that know me well understand that I am passionate about the sport of football.  Early in my professional career, I coached college football.  These days I get my “football fix” working with a local high school football team in the evenings.  It was with that team after the last day of summer camp heading into the fall that I shared the above quotes.

The quotes speak to a certain way of thinking, of doing things, a competitive spirit.  As a coach, we preach to our players to take the same approach to life as they do to football.  We call that the “carryover effect”.   Defined a carryover effect is an effect that “carries over” from one experimental condition to another (1).

In the world of pharmacy, as it pertains to Rx inventory, it is rare to see the “carryover effect” from one job-related role to another. What I mean by that is pharmacists are highly educated and very skilled in their knowledge of drugs, the dose, the side effects, what a drug is designed to treat, etc.  When it comes to the business and the financial impact of Rx inventory, the knowledge, and skills the pharmacists have in relation to the drug, tends not to “carryover”.  In short, a pharmacist tends to be a great medical professional, but unprepared for the business of pharmacy, inventory in particular.

This makes all the sense in the world when you view the typical curriculum of a pharmacy student.  There are all these intense classes covering 4-5 years and rarely is the business of pharmacy mentioned.  When it is covered, it is late in the semester, towards the end of the book, or only for a week or so of the program’s last year.  When I speak to pharmacists about the value of their inventory, carry costs, cost of goods sold, etc. they have limited knowledge of those concepts.  They must learn as they go throughout their career.  Some, who are also owners, tend to be more knowledgeable about the business of pharmacy.  However, time and the ability to do the work involved in running inventory effectively is their culprit.

I would urge all community pharmacists, owners, and technicians to learn the basics of running Rx inventory, to apply the passion they have for patient care and let it “carryover” to “business care” (the financial health of your business).  Because if you are not adherent in caring for the business it will fail, just like if a patient is not adherent in taking their meds., their treatment plan will fail.

Datarithm can help “carryover” your passion of patient care to the business of pharmacy by helping you control your Rx inventory allowing your pharmacy to “care like a champion today”.

Comments are closed.