Are You Running These Essential Reports In Your Pharmacy?

Good record-keeping is essential to any business. And creating reports about your pharmacy’s operations on a routine basis is part of that record keeping. Here are a few reports that pharmacies should be making regularly to ensure their efficiency and safety.

1. Sig reports

Pharmacies use sig codes, otherwise known as speed codes, as memory aids to speed up the data entry process. These are codes in the computer system designed to represent a particular set of instructions. For example, a sig code such as 1TBID would instruct the computer to print out “take one tablet by mouth twice daily” on the medication label.

However, sig codes are not foolproof and can sometimes lead to medication errors. That is why pharmacies need to regularly run reports of sig codes in the computer system to remove outdated and possibly even unsafe codes.

2. Financial reports

It is important for pharmacies to keep their financial records current to ensure their business is performing the way it should.

All pharmacy owners need to have basic knowledge about the financial aspects of their business. Preparing and reviewing financial reports regularly can help an owner see how the pharmacy is performing and make any needed changes to improve its profitability.

There are three key financial reports that need to be compiled to get a clear picture of the business. The first is an income statement, which shows if the pharmacy made or lost money during a specific time period. It is basically a review of expenses.

The second is the balance sheet, which shows what the store owes, how much it owes, and how much money is invested in the pharmacy. It basically gives you a picture of assets and liabilities at a point in time.

The third report is a cash flow statement, which gives you an overview of the numbers for the day-to-day operations.

3. Incident reports

These reports are sometimes overlooked because people see them only as vehicles for assigning blame, but they are essential to maintaining patient safety. If there has been a medication error, a report describing the incident should be made according to the policy put together by your particular health care organization.

The report needs to contain information about who was involved, what happened, where it happened, how it happened, and why it happened.

These reports can help your staff discover if there were any breaches in the normal procedures or if the system dispensing the drugs itself needs to be improved. The report should also include ideas for how a similar error could be prevented in the future.

The purpose of an incident report is to put together all of the important facts needed to describe what happened, look for patterns that might reveal problems, and determine what issues need to be addressed and managed.

Partner with Rx relief

At Rx relief, we take a personal interest in each of our candidates. Our staff is passionate about what they do and works to find the right job for each person. Rx relief has received a number of awards for our service. If your healthcare organization is looking for pharmacists, give Rx relief a call today.