Learning Objectives
At the end of this program, the participant should be able to:- Determine the break-even level in a pharmacy and how to apply break-even analysis through a series of what-if scenarios.
- Determine necessary sales volume required for expansion, including number of prescriptions required.
- Evaluate how volume must react to changing third party contribution margins.
- Determine when it is appropriate to add patient care services.
- Identify the primary "driver" of asset increases in an expanding pharmacy.
- Understand the critical need to consistently monitor financial position.
- Create a practical process, using ratios, to assess financial performance: identifying strengths, weaknesses and areas of opportunity.
- Appreciate the dynamic relationships that exist between the balance sheet and income statement.
- Use financial analysis as a tool to improve profits, increase cash flow.
- Enhance relationships and ability to communicate with bankers and other financing partners.