Timely pharmacy financial statements are not a luxury that you can afford to go without in today’s information age.
Corporations spend millions and millions of dollars annually trying to find a way to get data about there business as often as possible. Many try to get it in real time. Why is this? It is because they need data to make decisions.
The same is true in an independent pharmacy. If you receive your financials 30 to 45 days after the end of the month it is too late. You have to see what happened in a month. Did you make money? Did you lose money? Do you need to make changes to stop a negative trend? Did the program you put in place to grow sales actually work?
The pharmacies that get their financials on time and then use them to make decisions quickly are those that perform the best and weather unknown challenges like PBM reimbursement changes. Have you considered outsourcing your pharmacy accounting and bookkeeping so you can focus on business growth?
At IRx Consulting we are Accounting experts and offer a comprehensive Pharmacy Accounting service with a suite of complimentary services including Data Dashboards, Payroll & Human Resources and Pharmacy Management consulting.