QS/1 and ASCP Release Major Industry Study
FOR IMMEDIATE RELEASE
Contact: Jim Hancock
Spartanburg, SC – May 26, 2010 – QS/1 and the American Society of Consultant Pharmacists (ASCP) have teamed up to conduct the first major study that can have a huge impact on business operations of pharmacies and Long Term Care providers.
The 2009 Business Benchmarking Survey for LTC is being released at the opening of the ASCP Midyear Conference taking place in Phoenix, Arizona.
“This survey provides data that will be extremely helpful to pharmacists, pharmacy owners and managers as they evaluate their productivity, financial statistics, and contracting terms,” said John Feather, CEO of ASCP.
The report presents 2009 data that analyzes a variety of areas including gross profit margins of Long Term Care/Closed Doors Pharmacies, pharmacists’ salaries, Medicare Part A contracting terms, and implementation of technology solutions such as ePrescribing.
“This report can help Long Term Care providers and pharmacies see an overall view of how business is being conducted across the nation and adjust their terms and prices accordingly,” said Tammy Devine, QS/1 Executive Vice President.
QS/1 and ASCP are already putting together a plan to collect data for the 2010 report and working together in the future on an annual report. This is the first report of its kind prepared for the industry.
QS/1, a complete healthcare automation solutions provider, serves HME businesses and pharmacies. QS/1 is a division of the J M Smith Corporation, the fourth largest privately held company in South Carolina. For additional information about QS/1, visit the website at www.qs1.com, or call 1.800.231.7776.
The American Society of Consultant Pharmacists (ASCP) is the international professional association that provides leadership, education, advocacy, and resources to advance the practice of senior care pharmacy. ASCP’s 7,000+ members manage and improve medication therapy and improve the quality of life of geriatric patients and other individuals residing in a variety of environments, including nursing facilities, subacute care, assisted living communities, hospice programs, and home and community-based care. ASCP’s pharmacist members provide clinical consulting and/or medication dispensing services to both institutional and ambulatory settings.