Revenue management practice

Tallury KT, Van Ryzin GJ (2005) The Theory and Practice of Revenue Management. Springer, New York... 

Talluri, K. van Ryzin, G./ THE THEORY AND PRACTICE OF REVENUE MANAGEMENT Kavadias, S. Loch, C.H.IPROJECT SELECTION UNDER UNCERTAINTY Dynamically Allocating Resources to Maximize Value... 

It was reported by the Institute for Safe Medication Practices (ISMP) in 2000 that fewer than 5 percent of physicians were writing prescriptions electronically. In a 2000 white paper entitled, A Call to Action Eliminate Handwritten Prescriptions within 3 Years, ISMP recommended the use of electronic prescribing by clinician order entry to reduce medication errors (ISMP, 2000). CPOE can help to reduce errors in the delivery and transcribing of orders to the pharmacy where the orders are filled. Order management can be used to control inventory and alert pharmacy staff (and even the patient) of the status of a prescription. For example, some national chain pharmacies have the capability of alerting the patient by phone or e-mail if a prescription is ready or if other action needs to be taken before the prescription can be picked up. The system should also be able to report results, such as the number of prescriptions filled, the revenue generated over a specified time, and medication error reports. 

Intense competition and pressure on containing costs have pushed many pharmacy owners to seek new sources of revenue for their practices. While various approaches can be adopted, more and more pharmacy managers are choosing the path taken by Debbie in the scenario. That is, the marketing of pharmacy goods and patient care services is becoming more widespread. 

A practice management system is the organizational framework that supports the practice. A practice management system represents an orderly approach to developing a system that enables practitioners to provide pharmaceutical care. A practice management system contains four elements (1) a clear description of the service provided, (2) a list of resources required to deliver the service, (3) a practice evaluation process, and (4) a revenue stream. 

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