​Drug Loss Prevention: Everything You Need To Know

As a pharmacy owner or pharmacist, you know that preventing drug losses is essential to the success of your business. Every day, pharmacies lose money due to drug theft, fraud, and improper handling. In this blog post, we will discuss everything you need to know about drug loss prevention in pharmacies. We will provide tips on how to prevent drug losses and how to deal with them if they occur.

Drug Loss and Theft Are Getting Better

The first thing you should know is that drug loss and theft are getting better. According to the DEA’s Theft Loss Reporting Database, the total number of prescription drug robberies, which resulted in the loss of a variety of prescription medications, decreased by over 45 percent in 2019 from the high of 884 armed robberies in 2017. In fact, 2019 saw the lowest number of robberies in the past nine years. However, this trend applies only to the national level as certain states witnessed increases in 2019.

Even though drug loss due to theft and fraud is getting better, it still happens. In fact, the NCPA found that the average pharmacy lost $11,000 last year due to these crimes.This is why it is important for you to be aware of the signs of theft and fraud and to know how to prevent it.

How To Prevent Drug Loss

Now that you know the facts about drug loss, let's discuss how you can prevent it. The best way to prevent drug losses in your pharmacy is to have a comprehensive loss prevention plan in place. This plan should include physical security measures, such as alarms and cameras, as well as procedural measures, such as proper handling and storage of drugs. You should also train your employees on how to properly handle and store drugs.

A few other things you should consider are:

• Eliminating cash sales
• Implementing a computerized inventory system
• Using barcodes and RFID tags
• Hiring a security guard

By taking these steps, you can significantly reduce the chances of drug loss in your pharmacy.

What To Do If Drug Loss Occurs

Even with the best loss prevention plan in place, there is always a chance that drug loss can occur. If it does, the first thing you should do is contact the police. You will also need to file a report with your insurance company. After you have done this, you should review your security measures and make any necessary changes.

It is also important to take steps to prevent drug loss from happening again in the future. This includes training your employees on proper handling and storage of drugs, as well as implementing new security measures, if necessary.

Drug loss is a serious issue that can have a major impact on your pharmacy. By being aware of the signs of theft and fraud and taking steps to prevent drug loss, you can protect your business.

Do you have any tips on how to prevent drug loss in pharmacies? Let us know!