Pharmacy Service Improvement at CVS Yes‚ although CVS attracted 8.5 million new regular customers over the course of one year‚ approximately 7.2 million customers left CVS during the same period. These regular customers accounted for an estimated 55 million annual prescriptions‚ which would have contributed to $2.5 billion in revenue. Data Entry: Inform remaining refills explicitly with customer and on easy to read drug cases. Ask patient if CVS should contact
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I worked at CVS pharmacy as a technician. When you’re your main clientele is mostly customers who are ill‚ sincerity in communication are a must. I was always empathetic and compassionate to their needs. My communication skills became a useful tool to help them feel like
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Two types of Pharmacy Customers • Light Users o Filed ~5 scripts per year o ~6.6 Mn defectors • 69% of switchers due to location • 13% due to service • Heavy users o Filled ~40 scripts per year o ~540k defectors • 44% of switchers left due to service ‚ followed by price at 33% Revenue per script 59.72 per script Revenue lost from defection 3‚000‚000‚000+ 24% of revenue lost improvement in service • only 13% of light users defected because of service so defection reduction
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Villanova School of Business VSB 1002- Business Dynamics II Pharmacy Service Improvement at CVS (A) Harvard Business School Case 9-605-015 (Rev. October 20‚ 2006) Case Study Assignment Problems arose in almost every part of the fulfillment process‚ as explained below: Drop Off Staff asked for name‚ address‚ birth date‚ time of pick-up; then put script in slotted box (sectioned by hours of the day) in slot for one hour earlier than pick-up time Potential Drop Off Problem: No
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Case study of CVS According to the filed work results made by PSI team‚ we know that approximately one in four scripts experienced a problem at some point in fulfillment process. As we all know‚ the fulfillment process is critical for the transfer of the customer’s need into reality. An inefficient process would lead to a poor pharmacy service which would depress the recent customer. It’s certainly true that a better fulfillment process could prevent 60%-90% of the customer defection that were due
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Case Study – CVS There are five processes that occur during a prescription refill. Drop Off – This is when a customer gives the script the tech which will be placed the in a time slot that corresponds to the time the customer will be back to pick it up. Data Entry – This is when the tech will enter all required data about the customer and the prescription. Example: Customer info‚ Payment‚ insurance information etc. * Drug utilization review (DUR) – This station is to check to see if
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HISTORY OF PHARMACY Unique characteristics of HOMOSAPIENS – propensity to treat ailments‚ physical and mental with medicine INTRODUCTION * What is medicine? MEDICINE- is a mixture of myth and science‚ folklore and demonstrated facts. * How are medicines prepared? 1. Collection of active ingredients and drugs 2. Processed: and 3. Prepared for incorporation into medicaments PREHISTORIC PHARMACY SHANIDAR – oldest settlements‚ supports the contention that prehistoric people
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2 Billion of annual profit “up in smoke” CVS has recently decided to eliminate cigarettes from their vast options of items to purchase at all of their locations. Surprising at first you might ask yourself‚ why would a company willingly give up on over two billion dollars of profit annually? The primary answer being conveyed by CVS executives is that “Tobacco products have no place in a setting where health care is delivered.” This company is making a bold statement that money does not affect
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Case Study 1: The Generics Pharmacy Brief Identification Year launched: Franchise operations started in 2007. Key contacts: The Generics Pharmacy‚ 459 Quezon Ave.‚ Banaue‚ Quezon City. Tel. 632-732-3333; 632-712-7777 Brief background or history: The mother company (Pacific Insular Co.) that gave birth to The Generics Pharmacy (TGP) franchise started in 1949 as a family enterprise involved in pharmacy importation and distribution. In 1974‚ the current TGP President‚ Mr. Benjamin Liuson
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Personal Statement – Lawrence Chan From my past I have always been exposed to Finance. My grandfather started up a securities trading company before I was born. Although unusual my family would discuss finance with me and this developed my interest so now I look at the wider implication in society finance brings. When everybody grows up‚ they must change their mind or some opinion about what they believe. I think I am one of them. Now‚ I understand that finance is not just a tool to earn money
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