How to Account for Stock in a Medical Practice

A medical practice generally refers to a doctor, or group of doctors, and the medical staff that works and runs the doctor's office. A person in charge of running the practice is responsible for things such as keeping schedules, assisting where needed and helping to manage the budget.



One way to help reduce the cost of running the practice is by controlling the stock of equipment and supplies. You can account for stock used in a medical practice by staying organized, using lists, and comparing lists when re-ordering supplies.

Instructions

Managing Stock in a Medical Practice

• 1

  Stay Organized. Organization cannot only help an individual find a particular piece of equipment, but it can also help one keep track of the stock.

  Supplies and equipment are often found in a supply closet as well as in individual exam and treatment rooms. Similar items and supplies can be organized by keeping items used together in the same area of the supply room. For example, supplies used for bandaging wounds like gauze squares, gauze rolls, and tape can be kept on the same shelf making it easier to keep track of, and find, when needed.

  Placing loose supply packages, such as packages of gauze, into labeled containers can help keep supplies organized.

• 2

  Use labeled containers to hold loose supplies to help maintain organization.

  Create Inventory Lists. Making a schedule detailing who and when routine inventory counts are done can keep the stock accounted for and organized when performed on a regular basis. Make an inventory list that includes each type of equipment and supplies found in the practice. The list can include product names, product information, recommended amounts and a space for the actual amount to be written. Inventory lists can be completed each time the stock is counted. These lists can show which supplies are commonly used and which are not. Spreadsheets can be used to create an inventory list and are easy to read.

• 3

  Use stock sign out sheets. Create stock sign-out sheets and place them in the supply room to help account for stock used in the medical practice.

  Sign-out sheets should include the product name or description and the amount taken, where the supplies were taken, the date and time the stock was removed. The patient's name or medical record ID number for whom the stock was taken can also be included on the sheet.

  These sheets can also be kept in the exam and treatment rooms, the front desk, or with each patient's chart. Stock sign-out sheets can be given to individual staff members for each shift allowing the employee to keep a record of what, when, and for which patient supplies were used.

• 4

  Staff members can account for stock by utilizing an equipment usage list for each patient.

  Make equipment usage lists. Equipment usage lists can be made for each patient seen by the practice to help account for stock. A patient who is seen on a regular basis, such as for wound care, may have an equipment usage list placed into his chart to itemize each piece of equipment or supplies used for treatment.

  An equipment usage list may include each product used during treatments. The amount of supplies used and the frequency of treatment can be written on each list.

  Staff can fill in the blanks using a standard spreadsheet with sections for each category of information. For example, a patient who comes in twice a week for wound care treatment can have an equipment usage sheet in her file indicating the needed equipment (bandage, scissors) and supplies (package of 4x4in. gauze, roll of gauze, wound cleansing spray).

  The equipment usage sheet allows staff to not only prepare the exam room for the patient's treatment by stocking the room with the needed supplies but they can also account for stock by looking at the sheet to see what will be taken from the supply room for the patient's treatment.

• 5

  Create stock order lists. Stock ordering lists can be made for the medical practice to help manage the stock used by the practice. These lists can be compared to each other showing which supplies are most commonly used and which are not. This can help account for missing stock. Compare the order forms with the equipment usage lists or stock sign-out sheets to assure that missing stock is indeed being used on patients.

  Stock order forms may include product name, product ordering number, and the amount of stock that needs to be ordered. The date and time the order was placed and the approximate time the order will arrive at the office can also be included on the stock order list.