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Case Costing in Surgery Centers Keeping a tight rein on costs and managing operational efficiency are the hallmarks of every successful surgical center. Case costing analysis, which captures both the costs of supplies used as well as any indirect costs …

The Cost of Dispensing the Wrong Medication As per the statistics, the frequency of incidents involving the incorrect medication dispensing is alarmingly high. According to the Food and Drug Administration (FDA), they receive a staggering 100,000 reports annually concerning such …

In hospitals, more than a third of the budget is allocated to supplies. According to a case study by the SAC College of Pharmacy, introducing inventory control measures for managing the most expensive medicines in a 1500-bed government-run hospital can …

Inflation has affected all aspects of the global economy, including the healthcare supply chain. Per the Consumer Price Index, the average price of consumer goods increased by 7.9% between February 2021 and February 2022 – a 40-year high.  Labor costs …

When physician offices make purchasing decisions for acquiring drugs, they usually follow a buy-and-bill process. The ‘buy’ aspect refers to providers ordering the medication, while the ‘bill’ has to do with getting reimbursements from third-party payers. This model offers several …

Drug and medical supply manufacturers operate in heavily regulated environments where assigning lot and serial numbers to their high-value, highly customized products is required for better visibility of the supply chain. The growing use of lot and serial numbers for …

The healthcare sector is growing thanks to greater access and consistent life expectancy increase. As a result, many clinics are struggling to keep up with the demand and improve their return on investments. This is why most healthcare organizations are …