The following blog is written by Epicur Pharma’s Advisory Council member Nicole Clausen, CSSGB, CCFP. With over 15 years of experience in the veterinary industry, Nicole understands a successful practice’s operations, intricacies, and internal workings—including sustainable inventory management strategies. Nicole shares her perspective on the importance of choosing the right compounding pharmacy to successfully manage your practice’s inventory.
From Nicole
In a veterinary practice, managing inventory is more than just a task– it’s the foundation for patient care! It’s about ensuring the health and well-being of our patients, supporting our team, and ultimately, making a difference in the lives of animals in our care and their humans. Choosing vendors to partner with your practice is an important part of managing inventory. But, selecting the right compounding pharmacy (or any vendor, in general) can seem daunting.
When managing inventory, we are often taught to always look for the cheapest cost and choose our vendors that way. But, when it comes to compounded medications, there are many more factors to consider. Here are a few other vital factors to consider when picking a compounding pharmacy to partner with for your practice:
1. Understand Your Practice’s Needs
Just as every animal is unique, so too are the needs of each veterinary practice. Before diving into the vendor selection process, take the time to assess your practice’s requirements. Consider factors such as the types of compounded medications frequently prescribed, the volume of orders, and any specific preferences or priorities.
Think about:
- What products do we purchase frequently for in-office use?
- What products are often scripted out for individual patients?
- In what volumes or quantities do we often purchase?
2. Prioritize Quality and Safety
When it comes to compounded medications, quality and safety should always be top priorities. Look for vendors that adhere to stringent quality control standards and comply with regulatory requirements. A reputable compounding pharmacy will prioritize product consistency, integrity, and safety. A 503B pharmacy, like Epicur Pharma, needs to follow strict guidelines (considered Current Good Manufacturing Practice or CGMP) and are regulated by the Food & Drug Administration.
3. Seek Compounding Expertise
Compounding medications for animals requires specialized knowledge and expertise. Look for vendors with a team of experienced compounding pharmacists who are knowledgeable (and passionate!) about veterinary medicine. A vendor with a proven track record of compounding success and a commitment to ongoing education and training would be a valuable partner for a veterinary practice.
4. Consider Turnaround Time, Availability, and Ease of Ordering
Our practices are fast-paced, and often when a patient needs a specific prescription, starting it sooner can make a big impact. Additionally, the ordering platform should be easy to use and help you comply with compounded medication regulations. Choose a compounding pharmacy vendor capable of providing prompt turnaround times and reliable availability. Efficient communication and order processing are critical for ensuring that medications are delivered when needed.
Ordering Made Easy with iFill!
5. Evaluate Customer Support
A strong partnership with your compounding pharmacy vendor is built on effective communication and support. Look for vendors who prioritize customer service and are responsive to your practice’s needs. A vendor who is accessible, communicative, and willing to address any concerns or issues that arise is an invaluable asset to your practice.
6. Transparent Pricing and Cost Management
While cost is certainly a factor, it’s essential to look beyond the price tag when selecting a compounding pharmacy vendor. Consider the vendor’s overall value, including factors such as product quality, service reliability, long-term cost savings, education, and commitment to excellence for our patients.
Inventory Management Guide
Five tips for improving your practice’s inventory processes, including important considerations for software tools and key reminders for your team!
7. Embrace Partnership and Collaboration
Ultimately, selecting the right compounding pharmacy vendor is about finding a partner who shares your practice’s values and priorities. Choose a vendor who is committed to collaboration, innovation, and continuous improvement.
Think about:
- What does my practice value?
- What are our goals?
- Does this vendor I’m evaluating align with those values?
Choosing the right compounding pharmacy for your practice is an important decision that requires careful consideration and intentional decision-making. Ultimately, consider your practice’s unique requirements, the alignment of values with the potential vendor, and the vendor’s dedication to innovation, safety, and quality.
