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EPM2e Samplechapter
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The role of business in pharmacy practice Changes in the demography of the USA

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Age distribution of the population

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The aging of the population

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Changing racial composition of the population 15
Deciding on a role for pharmacy

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The practices of pharmacy and business

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Quality of care vs. generation of profits

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Business and ethical standards

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The role of competition

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Utilization of resources

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Remaining competitive and adapting to change 18

Deciding on roles for pharmacists

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Evolution of the profession

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The role of pharmacists as healthcare professionals 20

The role of the pharmacist within the community 20

The pharmacist as a clinical purist

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Identifying the challenges for community pharmacies A business world orientation
Challenges in community settings
Challenges in hospital settings
How to integrate different managerial functions
Planning
Organizing
Staffing
Directing
Controlling
Recognizing the functional areas of business
Accounting function
Financial function
Human resource management function
Operations management function
Marketing function
Summary
Questions for discussion
Self-test review
References

Learning objectives
The objectives of this chapter are to assist you to be able to explain:

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the misconceptions about the role of business in pharmacy practice why a business perspective is important challenges for community and hospital pharmacies how to integrate different managerial functions the functional areas of business.

Sample chapter for Essentials of Pharmacy Management

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Essentials of Pharmacy Management

Key terms
Accounting function
Controlling
Directing
Finance function
Human resources
Human resource management function
Input–output system
Marketing function
Material resources
Monetary resources
Operations management function
Organizing
Planning
Remaining competitive
Staffing
Utilization of resources

Changes in the


References: 1. Smith A. The Wealth Of Nations, New York: Modern Library, 1917: 250. 2. Risk Management Association. Annual Statement Studies, 2010–2011, Philadelphia, PA: RMA, 2011. 3. Eli Lilly Drug Co. Lilly Digest, Indianapolis: Eli Lilly Drug Co., 1991: 3. 4. Tootelian DH. Wage and benefit programs: Meshing employers’ and employees’ needs. California Pharmacist, November, 1989: 24–25. Sample chapter for Essentials of Pharmacy Management
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