Financial Analysis in Pharmacy Practice

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It has been said with regard to education that students learn when they perceive a need to learn. For the authors, the experience of many years of teaching business courses in a college of pharmacy has provided a very important insight into how students look at learning the basics of accounting and financial management. From the student’s perspective, setting aside the few who are drawn to this subject for one reason or another, there is confusion over why they need to learn about business in pharmacy school. Over the years, some students have entered the profession of pharmacy with the thought of one day owning or managing a business. These students have recognized the value of understanding the basics of accounting and financial management, and that the application of these principles has value in their practice of pharmacy and personal lives. However, for most others, it is often difficult to dedicate sufficient time and attention to business management courses when study time is monopolized by other, seemingly more important, courses where instructors are often heard uttering phrases like, “this will be on the boards.”


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