Prioritize the Financial Health of Your Pharmacy

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WHAT TO EXPECT

You focus on the health of your patients all day; you also need to focus on the health of your pharmacy. That starts with your financials. This guide will walk you through three critical financial statements and help you understand what they mean and how to use them to make the best decisions for your pharmacy.

Do you know the three most critical financial statements and understand how to use them to make the best decisions for your pharmacy?

GAIN A CLEAR UNDERSTANDING OF THE FOLLOWING FINANCIAL REPORTS

BALANCE SHEET

A quick snapshot of where your pharmacy is right now. This would be like checking your bank balance before buying groceries or counting your cash before buying a coffee.

INCOME STATEMENT

Tells you how much money you’re making and where it’s coming from. The document measures revenue and costs over a period of time, whether it be a week, month, or year.

CASH FLOW STATEMENT

Unlike the balance sheets and income statements that show current assets, sales, and liabilities, the cash flow statement is more a projection of revenue and expenses.