Pharmacy Financial

a record of what a pharmacy owes its suppliers and other creditors

a record of what is wed to the pharmacy by patients, insurance companies, government agencies, and managed-care contractors

anything that is owned by the pharmacy

the average price at which a wholesaler sells a drug to pharmacies

• statement of the financial condition of the business at a given time
• assets = liabilities + net worth

• a fixed fee paid to a pharmacy by an insurance company to provide medications to a patient.
• pharmacy doesn't get additional fees if the patient's prescriptions cost more than what has been reimbursed

a record of pharmacy expenditures (payments)

• a record of cash receipts and disbursements
• out and in

a record of cash that comes into the business

a record of profit or loss that shows the financial transactions that have occurred over a specified time period

a document showing items purchased at one time from a specific supplier

what is owed to a creditor

the maximum amount a pharmacy will be reimbursed for a prescription drug

the value of the business that belongs to the owner

• the ongoing cost of running the business.
• includes utilities, rent, etc.