Pharmacy Team Turns Inventory Blemish Into Success
When Susan Luu, an inventory technician and member of UFCW Local 555, learned that her Northwest pharmacy had lost $70,000 in expired medications, she partnered with co-workers to turn the team’s tragedy into triumph. She and manager Rob Yancey engaged Pharmacy Analytics to identify slow-moving medications. Team members also monitored the pharmacy for outdated or slow-moving medications. By the time the team completed its next inventory, losses had dropped to $7,000 – a 90 percent reduction in the cost of expired medications.
Here's What Worked
- Partnering with Pharmacy Analytics to identify and remove outdated drugs from the shelf
- Engaging team members to “own” a section of the pharmacy and monitor expired or slow-moving medications
What can your team do to better manage your inventory? What else could you do to save money and keep KP affordable for members and patients?
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Reduction in the cost of expired medications