Investigating the financial management of the pharmacy of Tabriz Shahid Madani Hospital during the years 2014 to 2019

Abstract

Introduction: Hospital pharmacies, as one of the vital components of the healthcare sector, act as key suppliers of drugs and medical equipment and have a significant impact on patient treatment and the overall quality of service delivery. Financial analysis plays a key role in effective management and is particularly useful in public hospitals.Aim: This study was conducted with the aim of evaluating the financial management and supply chain of drugs in the pharmacy of Shahid Madani Hospital in Tabriz to improve the pharmacy management system.Materials and methods: In this study, the financial management of Tabriz Shahid Madani Hospital pharmacy was evaluated using standard forms and available documents. Hospital financial data were collected and analyzed through financial analysis methods, including financial ratios and ABC-VED matrix.Results: In general, most of the indicators of the financial ratio showed a significant increase in Shahid Madani Hospital in Tabriz during six years. However, the financial performance ratios experienced a decline during the last year of assessment compared to previous years. In addition, the analysis using the ABC-VED matrix showed that 17% of the items are in the first category, 66% in the second category and 18% in the third category.Conclusion: The findings show a positive correlation between the application and scientific understanding of the findings and emphasize the need to increase the awareness of policymakers and managers about financial indicators and innovative approaches, such as the ABC-VED matrix. This study emphasizes the importance of developing appropriate financial education programs for pharmacists at different professional stages, as well as recognizing the regional context in financial practices.