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|Title:||Process Analysis of A Free Pharmacy Services In A PSU Hospital|
|Keywords:||School of Health Systems Studies|
Harshad P. Thakur
Free Pharmacy Services - PSU Hospital
|Abstract:||Background: Healthcare organizations are facing many financial challenges in this era that are changing today’s background and shaping the future. The pharmacy is one of the most extensively used support service of a hospital. Pharmacies dispensing patterns and drug selection choices may have a direct effect on the affordability of care. Data analytics and benchmarking can be used by hospital pharmacy management to evaluate the financial status. Trending each of these metrics to months and the annual budget, provides valuable insights, which helps in many administrative decisions and hence, profit to the organisation. ! Objective: Primary objective is the process analysis of a free pharmacy services at Mumbai Port Trust (MbPT) hospital , its drawbacks, limitations and solution for this system. Secondary objective is to study the effect of the suggestions for improvement given to the administration. ! Methodology: Data was collected for total expenditure incurred on reimbursement of medical expenses claims for the year 2014-15, 2015-16 and 2016-17. ! Results: Total expenditure incurred on RME claims during the three financial year was studied and the increase in percentage was calculated. Suggestions for improvement was given to the administration and result were analysed. ! Conclusion: Addressing pharmacy inventory management and the revenue cycle effectively can enable organizations to improve financial performance, adhere to regulatory requirements and reduce financial risks. When coupled with proper inventory management, organizations can reduce the risk for regulatory non-compliance and derive further financial benefits from an integral hospital function. Process analysis of free pharmacy services of MbPTH were studied and the solution thus implemented led to manpower and financial benefit for the organisation.|
|Appears in Collections:||Executive Post Graduate Diploma in Hospital Administration|
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