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Cost of Dispensing Study January2020Commissioned by: National Association of Chain Drug Stores (NADS) National Association of Specialty Pharmacy (NASA) National Community Pharmacists Association (NCAA) Prepared

How to fill out cost of dispensing study

How to fill out cost of dispensing study

1. To fill out the cost of dispensing study, follow these steps:
2. Gather all relevant data and documents, such as invoices, payroll records, and overhead expenses.
3. Identify the period of time for which the study will be conducted.
4. Determine the cost categories to be included in the study, such as medication costs, labor costs, and facility expenses.
5. Calculate the total cost for each category by summing up the corresponding expenses for the identified period.
6. Divide the total cost by the number of prescriptions dispensed during the same period to calculate the cost per prescription.
7. Document and organize the findings in a clear and concise manner.
8. Analyze the results and identify any areas where cost reductions or optimizations can be made.
9. Use the findings to make informed decisions and adjustments to improve the cost efficiency of dispensing.
10. Periodically review and update the cost of dispensing study to reflect any changes in expenses or operations.

Who needs cost of dispensing study?

1. Pharmaceutical companies
2. Pharmacy owners and managers
3. Healthcare policymakers
4. Insurance companies
5. Regulatory agencies

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What is cost of dispensing study?

A cost of dispensing study is an analysis that evaluates the expenses associated with the process of dispensing medications, including overhead costs, labor, and other operational expenses.

Who is required to file cost of dispensing study?

Typically, pharmacies and pharmacy benefit managers (PBMs) are required to file cost of dispensing studies to provide transparency in pricing and reimbursement processes.

How to fill out cost of dispensing study?

To fill out a cost of dispensing study, pharmacies must gather relevant financial data, including labor costs, prescription volumes, and overhead expenses, and report these figures in the required format provided by regulatory bodies.

What is the purpose of cost of dispensing study?

The purpose of a cost of dispensing study is to establish a clear understanding of the costs involved in dispensing medications, which can inform pricing strategies and reimbursement rates.

What information must be reported on cost of dispensing study?

The study must report detailed information regarding direct costs, indirect costs, labor costs, pharmacy operations expenses, and other relevant financial metrics.