What is an essential consideration for controlling pharmacy costs when managing suppliers?

Regular audits of supplier contracts play a critical role in controlling pharmacy costs when managing suppliers. By conducting these audits, pharmacies can ensure that they are receiving the best pricing and terms outlined in their contracts. This process helps identify any discrepancies in pricing, ensures compliance with agreed-upon terms, and provides an opportunity to negotiate better deals or switch to more cost-effective suppliers if necessary.

Additionally, auditing supplier contracts can help pharmacy managers track any changes over time, verify that discounts and rebates are applied correctly, and assess overall supplier performance. This diligence not only aids in cost management but also enhances the pharmacy's ability to maintain service levels while staying financially efficient.

In contrast, while virtual inventory management systems can assist in inventory control and forecasting, they do not directly influence supplier contracts. Communication with patients is crucial for service but doesn't directly impact supplier cost management. Similarly, limiting staff training could negatively affect the pharmacy’s operations and service quality, and would not be a viable strategy for controlling costs related to suppliers.