Developing a data-collection system

Desirable characteristics for a hospital pharmacy financial data-collection system are described. Data collection should follow standardized methods, require minimum personnel time, monitor financial performance, high-light trends, and use standard reporting periods and nomenclature. When automated data-collection methods are not available for pharmacy departments, manual systems should be developed so that totals correspond to automated hospital reports. Data should be collected for expenses (drug and supply costs; personnel costs; equipment purchase, lease, and maintenance; and purchased services), revenues, workload, transfers, credits, drug use, and hospital indicators. For data to be useful as a management tool, they must be reported in a timely fashion and in a manner that is easy to analyze. Reports to hospital administration should emphasize summary data, and details should support the summary. An adequate system for collection, collation, and reporting of financial data is essential for sound management of a hospital pharmacy department.