How well do you know your pharmacy's pulse?
Answers to these questions provide a clear view into the performance and workload of your operations, billing and finance departments. With an understanding of these metrics, your pharmacy has the ability to understand what is happening in your business sooner, before it becomes a problem or missed opportunity.
Do you know how well your pharmacy performs when it comes to moving orders through workflow?
Analyze your operations by quickly identifying bottlenecks in your current scheduling to improve delivery times, and determining when orders are residing in various workflow steps which may be impacting customer service.
How much of your cash flow is currently tied up in inventory?
Inventory is your highest expenditure in pharmacy, and having visibility into your inventory is key! Use FrameworkBI to keep close tabs on inventory and make immediate adjustments to prevent order delays and strains on cash flow.
Which of your payers are more profitable?
Focus on your financials by examining revenue and margin by facility customer so you can understand on a granular level where your profitability is coming from. By monitoring margins you can determine if adjustments to pricing or wholesaler agreements are necessary, or whether new business is worth pursuing. Not all new business is good business!
Better your billing with dashboards and reports that show Third Party Days Sales Outstanding, prior authorization reports, and rejected claim management reports. See at any point in the day how many claims have been paid, rejected, or remain un-submitted at the user level. Identify failures to pay in full by third parties and to what extent these shortages are affecting revenue.
Which of todays orders require prior authorization?
Understand when documents arrive throughout the day to better manage staff allocation and cutoff times to improve facility service. Use FrameworkBI reports for more insight into how documents are managed - if wait times are unacceptable you can identify the source and quickly adjust your process.
Would tweaking your staff allocation help reduce bottlenecks?
Intentionally designed as a stand-alone module, FrameworkBI enables anyone in your organization to be a reporting expert with an intuitive interface that provides quick data access via live dashboards and saved reports. Accessible via computer, smart phone or tablet anywhere, anytime, your team can quickly take your pharmacy's pulse to ensure you are operating efficiently.