McKesson delivered solid financial performance in Fiscal 2004 with 22% revenue growth and 16% earnings per share growth. Over the past four years, McKesson achieved compound annual revenue growth of over 17% and earnings per share growth of 36%. Organizational changes and operating improvements are expected to drive continued revenue and earnings growth in Fiscal 2005.
Tahmin ve internet tabanlı kolaylaştırmaya dayalı bir çalışma. Haiti' de elektrik kesintileri, internet erişim kesintileri, İngilizce - Fransızca - yerel dil, düşük eğitim profili, ada olmaktan kaynaklanan lojistik zorluk, fakirlik, kolera salgını,... engellere rağmen iyileşme sağlanmış.
McKinsey Sağlık Tedarik Zinciriyle, FMCG Tedarik Zinciri karşılaştırıyor. Sağlık Tedarik Zincirindeki iyileştirme fırsatına ve toplumsal boyutuna dikkat çekiyor.
Opportunities and Barriers in Pharmaceutical Pricing: Average Manufacturer Pr...Epstein Becker Green
Part 2 of a webinar series that examines the average manufacturer price (“AMP”) Final Rule and its effect on drug pricing and contracting. Hosted by an Epstein Becker Green and EBG Advisors.
The long-awaited issuance of the Final Rule addressing AMP under the Medicaid Drug Rebate Program has provided clarity in some respects but left other issues open to interpretation. In the wake of the Final Rule, other regulatory developments are already showing signs of further impacting many of the same issues.
Using the AMP Final Rule as a baseline, we will address the evolution of some of the most significant issues affecting drug pricing and contracting. We hope you can attend one or both of the sessions in this two-part series.
In this session, Dr. Samuel R. Nussbaum, M.D., Strategic Consultant at EBG Advisors, and Lesley R. Yeung, Associate at Epstein Becker Green, will examine the pay-for-value and alternative approaches to pharmaceutical pricing. The speakers will discuss opportunities and barriers as well as highlight real-world examples.
http://www.ebglaw.com/events/the-effect-of-the-average-manufacturer-price-final-rule-on-drug-pricing-and-contracting-part-2-opportunities-and-barriers-in-pharmaceutical-pricing/
These materials have been provided for informational purposes only and are not intended and should not be construed to constitute legal advice. The content of these materials is copyrighted to Epstein Becker & Green, P.C. ATTORNEY ADVERTISING.
2017 Investor Day presentation for McKesson Corporation. Provides an overview of McKesson's businesses and strategic direction, targeting the financial and investment community.
I designed the slides and created the theme illustration that appears throughout the presentations.
You can also download the presentation from www.mckesson.com under the Investors section.
Healthcare Management PowerPoint Presentation Slides is designed especially for the medical industry professionals. Use this PPT slideshow to showcase all the essentials of healthcare administration with a dash of visual brilliance. Demonstrate the key trends and vital stats of the healthcare industry through our content-driven PowerPoint theme. Communicate details about global healthcare economy, and global spending stats. Illustrate the key demand and supply drivers associated with public health management. Employ our audience-friendly medical administration PPT template deck to elucidate stakeholders in the public health system. Cutting-edge graphics and innovative data visualization designs simplify the explanation. Use diagrams featured in this PowerPoint presentation to describe essential public health services. You will also find infographic-style designs to help elaborating concepts like hospital and corporate tie-ups. Utilize the Venn diagram to emphasize the pharma company operating model. Convey the research and development protocol followed in the pharmaceutical industry. Our comprehensive PPT layout contains oodles of other core aspects of hospital management. This includes cost accounting, financial management, data analysis, strategic planning, marketing, and KPI metrics and dashboards. So, hit the download button and captivate your audience. Our Healthcare Management PowerPoint Presentation Slides are topically designed to provide an attractive backdrop to any subject. Use them to look like a presentation pro. https://bit.ly/3lZSJyR
Tahmin ve internet tabanlı kolaylaştırmaya dayalı bir çalışma. Haiti' de elektrik kesintileri, internet erişim kesintileri, İngilizce - Fransızca - yerel dil, düşük eğitim profili, ada olmaktan kaynaklanan lojistik zorluk, fakirlik, kolera salgını,... engellere rağmen iyileşme sağlanmış.
McKinsey Sağlık Tedarik Zinciriyle, FMCG Tedarik Zinciri karşılaştırıyor. Sağlık Tedarik Zincirindeki iyileştirme fırsatına ve toplumsal boyutuna dikkat çekiyor.
Opportunities and Barriers in Pharmaceutical Pricing: Average Manufacturer Pr...Epstein Becker Green
Part 2 of a webinar series that examines the average manufacturer price (“AMP”) Final Rule and its effect on drug pricing and contracting. Hosted by an Epstein Becker Green and EBG Advisors.
The long-awaited issuance of the Final Rule addressing AMP under the Medicaid Drug Rebate Program has provided clarity in some respects but left other issues open to interpretation. In the wake of the Final Rule, other regulatory developments are already showing signs of further impacting many of the same issues.
Using the AMP Final Rule as a baseline, we will address the evolution of some of the most significant issues affecting drug pricing and contracting. We hope you can attend one or both of the sessions in this two-part series.
In this session, Dr. Samuel R. Nussbaum, M.D., Strategic Consultant at EBG Advisors, and Lesley R. Yeung, Associate at Epstein Becker Green, will examine the pay-for-value and alternative approaches to pharmaceutical pricing. The speakers will discuss opportunities and barriers as well as highlight real-world examples.
http://www.ebglaw.com/events/the-effect-of-the-average-manufacturer-price-final-rule-on-drug-pricing-and-contracting-part-2-opportunities-and-barriers-in-pharmaceutical-pricing/
These materials have been provided for informational purposes only and are not intended and should not be construed to constitute legal advice. The content of these materials is copyrighted to Epstein Becker & Green, P.C. ATTORNEY ADVERTISING.
2017 Investor Day presentation for McKesson Corporation. Provides an overview of McKesson's businesses and strategic direction, targeting the financial and investment community.
I designed the slides and created the theme illustration that appears throughout the presentations.
You can also download the presentation from www.mckesson.com under the Investors section.
Healthcare Management PowerPoint Presentation Slides is designed especially for the medical industry professionals. Use this PPT slideshow to showcase all the essentials of healthcare administration with a dash of visual brilliance. Demonstrate the key trends and vital stats of the healthcare industry through our content-driven PowerPoint theme. Communicate details about global healthcare economy, and global spending stats. Illustrate the key demand and supply drivers associated with public health management. Employ our audience-friendly medical administration PPT template deck to elucidate stakeholders in the public health system. Cutting-edge graphics and innovative data visualization designs simplify the explanation. Use diagrams featured in this PowerPoint presentation to describe essential public health services. You will also find infographic-style designs to help elaborating concepts like hospital and corporate tie-ups. Utilize the Venn diagram to emphasize the pharma company operating model. Convey the research and development protocol followed in the pharmaceutical industry. Our comprehensive PPT layout contains oodles of other core aspects of hospital management. This includes cost accounting, financial management, data analysis, strategic planning, marketing, and KPI metrics and dashboards. So, hit the download button and captivate your audience. Our Healthcare Management PowerPoint Presentation Slides are topically designed to provide an attractive backdrop to any subject. Use them to look like a presentation pro. https://bit.ly/3lZSJyR
1Running Head MEDICAL PROFESSIONS PROVIDING HEALTHCARE SERVICES.docxfelicidaddinwoodie
1
Running Head: MEDICAL PROFESSIONS PROVIDING HEALTHCARE SERVICES, LLP
MEDICAL PROFESSIONS PROVIDING HEALTHCARE SERVICES, LLP
23
Medical Professions Providing Healthcare Services, LLP
Green Group Business Plan Outline
Ma Vicky Caspe
Lily Che
Melissa Martin
Mary Nda
Kendra Smith
Grand Canyon University: HCA - 620
January 31, 2018
EXECUTIVE SUMMARY
Medical Professionals Providing Healthcare Services, LLP (“MPPHS”) is a Phoenix-based company specializing in providing quality healthcare services in urban and economically-depressed communities. Incorporated in June, 2012 we boast a strong executive team, led by our founder Dr. Mary Xing (Jones) and Chief Medical Officer Dr. Michael Tompkins. We have grown over the past 5+ years from a single-room clinic to a 200-bed hospital and 4 satellite clinics. MPPHS serves over 600 patients a day with a daily room occupancy approaching 95%.
As MPPHS grows, so does the competition, as larger medical institutions such as John C. Lincoln, The Valley Health System and the Mayo Clinic begin to take notice. In addition, the need to improve efficiency across the board (patient wait times, billing, staffing, etc.) has taken on greater significance, as our ability to properly serve customers is beginning to adversely affect overall operations.
Mission
As a participant in the healthcare management and services field within the medical industry, MPPHS prides itself on offering its services to a populace who historically has not had access due to financial constraints, societal norms and environmental conditions. Our mission has not changed since inception: To provide all regardless of economic and social standing equitable access to quality healthcare while focusing on the why (i.e. “why this patient is in our care”) instead of the who (i.e. “who is this person?”).
Company Objectives
MPPHS’ primary objectives are:
· Increase revenue by 10% Year-over-Year (YoY)
· Increase patient count by 5% YoY
· Increase bed capacity by 25% over the next 5 years
· Reduce response from 60 minutes to 45 minutes
· Reduce long-term operational debt by 25% over the next 5 years
MPPHS can accomplish this by developing an Electronic Medical Record (EMR) across all company-owned and operated facilities. Currently all staff submit paper records at the end of their shift to document control, which in turn manually inputs the information in the database developed internally by MPPHS technical staff. This was the process instituted from the company’s inception and has not been updated since. We have come to the realization this is an inefficient way to do business. Our wait times have gradually increase, exceeding one hour in some cases. Staff turnover is also increasing, reaching its highest of 85% retention. Historically MPPHS has been over 90% on-average.
By successfully implementing an EMR process and other related ones, MPPHS estimates we can improve our operational efficiency by 15% within 12 months. We feel ...
Consumer-Centric Healthcare: 2015--The Tipping Point Has Arrived (Report by William Blair)
Consumers—in tandem with disruptive healthcare technology and healthcare services providers—are the key to solving many of US healthcare's woes, particularly the unsustainably high cost of care.
Public exchanges, private exchanges, and high-deductible health plans are growing quickly. Disruptive forces of competition will create a lower-cost system that promotes the growth of highly efficient, low-cost, and high-quality providers and technologies.
The continued movement of financial and quality risk back to providers (and increasingly to consumers themselves) is encouraging providers and consumers to seek preventive medicine, cost efficiency, clinical efficacy, and overall value in healthcare. In turn, this could drive significant change regarding the primary point of care delivery (rapidly moving outside the hospital), the overall cost of healthcare and investment decisions made by healthcare providers.
Consumer-centric healthcare providers will experience strong top- and bottom-line growth over the coming years. Investors in both the public and private-equity markets will achieve superior long-term returns by identifying and investing in these companies.
Insights Success is The Best Business Magazine in the world for enterprises.It is being a best platform, to growing healthcare solutions provider companies in 2017.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
1. June 16, 2004
To our Stockholders:
In Fiscal 2004, McKesson delivered its fourth straight year of solid financial
performance. For the year, we achieved revenue growth of 22% and earnings per
share growth of 16%, we generated cash flow from operations of $563 million, made
share repurchases of $157 million and ended the year with a net debt to net capital
ratio of just 13%. Over the past four years, we had compound annual revenue growth
in excess of 17% and compound annual growth of 36% in diluted earnings per share
from continuing operations. During Fiscal 2004, we enhanced our ability to deliver
sustained growth through organizational refinements, operating improvements, a
series of small but strategic acquisitions and continued investments in product
innovation and new initiatives. Our progress, combined with accelerating demand
from consumers, employers, payors and government for more effective and efficient
healthcare, positions your company for continued revenue and earnings growth in
Fiscal 2005.
McKesson Drives Improvements in Healthcare Quality and Cost
Government and consumer pressure is mounting to improve the quality of healthcare
while reducing the cost. Solving this challenge has become a national priority. Aging
Baby Boomers are entering their peak years for healthcare issues. Their informed
medical needs continue to fuel increasing demand for both more and markedly better
care. Meeting these demands strains the financial resources of healthcare payors,
providers and consumers alike. We believe that McKesson solutions can play a pivotal
role in delivering better care to more Americans in the most efficient way possible.
Supply chain integrity delivered by McKesson products and services ensures safe
drugs and medical supplies for patients at the most efficient cost. A recent study by
the Healthcare Distribution Management Association identified the important value
provided by pharmaceutical wholesalers on behalf of both manufacturers and
customers through superb delivery logistics, working capital savings and phenomenal
operating efficiencies combined with innovative valueadding services. For example,
McKesson is a leader in developing and promoting innovations that track the flow of
pharmaceuticals and medical-surgical supplies from the manufacturer's loading dock
to the patient's use. We pioneered technologies that scan bar codes on these products
as they move through the healthcare system on their way to providing beneficial
therapy. We stand ready to provide bar code packaging to our manufacturer and
customer partners as they prepare to meet the government's new mandate for
universal bar coding of pharmaceuticals in hospitals. McKesson is the only company
that provides a comprehensive system of robotics, scanning, dispensing and software
covering both oral and injectable medications to reduce medication errors, which is
2. now used in more than 250 U.S. hospitals. We are currently collaborating closely with
the world's largest retailer, Wal-Mart, to apply nextgeneration RFID technology to
further improve the purchasing, safety and efficient management of pharmaceutical
inventories.
McKesson information technologies and databases of knowledge put best practice
information in the hands of providers when crucial decisions are being made at the
point of care. More than half the nation's largest hospitals currently use McKesson
information technologies to meet their clinical and financial missions. In the past
three years, McKesson has introduced to our customers:
Software and hardware that digitizes, stores and provides access to medical images
such as X-rays, CAT scans and PET scans, speeding viewing while eliminating the
need for film that is expensive and costly to store.
Software and hardware that scans, stores and provides access to written or printed
patient records and notes, improving availability and reducing space used to store
paper for more important clinical use.
An information and ordering system for physicians that integrates technology to order
and view lab tests, schedule clinical events and prescribe drugs with a database that
alerts them to the best practices for more than 1,000 medical encounters.
A web-based portal that securely displays clinical information — and more — on
computer screens, laptop computers, digital assistants and cell-phone screens,
anytime, anywhere.
Increased use of information technology in healthcare received a major boost from
President Bush in early 2004. In his State of the Union address, the President
endorsed computerized healthcare to avoid medical mistakes and improve quality. On
April 27, he announced a new initiative to ensure that all Americans have electronic
medical records within 10 years. The President then directed all federal agencies
involved in healthcare to recommend actions to promote the adoption of healthcare
information technology. We believe that our market momentum, combined with these
favorable influences on our customers, will continue to accelerate revenue
opportunities for information solutions from McKesson.
McKesson disease management programs make it possible for patients with chronic
illnesses to have the best health outcomes at the lowest cost. The Medicare
Modernization Act of 2003 expands access to much-needed drugs for millions of
seniors. Perhaps equally important for the long-term, the Act also provides incentives
and focuses on programs designed to proactively manage the therapies and behaviors
of patients with chronic disease. Millions of Americans suffer from debilitating,
complex and costly conditions such as diabetes, congestive heart failure and asthma.
McKesson now manages the health outcomes for Medicaid patients with these
conditions in seven states, making us the leader in government disease management
programs. These states save on average two dollars for every dollar spent with
McKesson on disease management, saving tens of millions of dollars while improving
health outcomes and the satisfaction of both patients and physicians. We are now
applying for a Medicare Act disease management demonstration project to validate
benefits on an even larger scale. In a related program, the Together Rx drug card
administered by McKesson on behalf of seven pharmaceutical manufacturers has
more than 1.3 million enrollees for whom it has delivered more than $350 million in
cost savings since it was launched two years ago. On June 1, seniors also began
benefiting from the new McKesson Rx Savings Access prescription drug discount card,
3. enabled through cooperation with several of our largest retail chain customers and
accepted at more than 48,000 pharmacies nationwide.
Organizational Changes and Operating Improvements Should Drive Improving
Results
Clearly, McKesson is well-positioned for growth being driven by the many,
intensifying forces for change in healthcare. As Fiscal 2005 began, we implemented a
series of organizational refinements designed to better align and integrate our
product development and selling efforts with the evolving needs of the marketplace.
McKesson Provider Technologies combines McKesson Information Solutions,
McKesson's inpatient automation business and our Corporate Solutions Group, which
quarterbacks complex sales, predominantly to large hospital and health networks. In
Fiscal 2004, Corporate Solutions led 218 large, multi-business strategic agreements,
up from 55 agreements the prior year. We also combined into a single unit the
company's Payor business, which provides medical guidelines and criteria, software,
analytics, patient call services and disease management to more than 600 commercial
and government Payors nationwide. The Payor business is part of McKesson
Pharmaceutical Solutions. And we moved Zee Medical, which provides first aid and
safety products and training services to corporate customers, to McKesson Medical-
Surgical Solutions. These organizational changes should enable us to accelerate
growth through more effective selling efforts while generating internal efficiencies.
In Fiscal 2004, we continued to focus on operational improvements across our
business. These improvements are designed to drive economic efficiencies, increase
operating margins and improve customer satisfaction. Customer satisfaction survey
scores improved in each of our segments, showing that customers recognize the value
we are bringing to their organizations.
We ended the year with strong revenue growth in pharmaceutical distribution in both
the United States and Canada, and have great revenue momentum entering this year.
Over the past 12 months, we signed renewal contracts with six of our ten largest U.S.
customers, in most cases expanding our previous relationship, adding new products or
services. On May 10, we began a major new agreement to supply pharmaceuticals to
the Department of Veterans Affairs, the nation's largest hospital network. While we
continued to leverage our cost structure through expense controls and productivity
programs, Pharmaceutical Solutions operating margin rate and operating profit came
under pressure as a result of reduced product sourcing opportunities and lower
pricing to customers. To stabilize margins, we are executing proactive programs to
address both the profit that we earn from the services we provide to our manufacturer
partners and our pricing to customers. We are making good progress in our
discussions to improve the economics of our relationships with pharmaceutical
manufacturers and believe we have sound strategies to stabilize pricing to customers.
By the second half of Fiscal 2005, we expect to see improvement in our
Pharmaceutical Solutions operating profit.
In Medical-Surgical Solutions, operating profit and operating margin rate improved
steadily throughout the year. Our progress over the past five quarters tracked the
plan we outlined in the fall of 2002. We continue to have strong growth from alternate
site customers. An expanded program to distribute in-office dispensed
pharmaceuticals, such as vaccines, to our more than 50,000 physician office
4. customers, helped drive annual revenue growth of 13% for this sector of the market.
Growth in our alternate site business should continue to be strong in Fiscal 2005,
which together with further progress in our operating plan should produce continued
improvement in operating profit and operating margin.
In Information Solutions, revenue growth was modest. Software revenues for the year
were impacted by slower demand for non-clinical software and the longer installation
periods needed to implement our complex clinical contracts. Operating profit and
operating margin rate improved during the year, reflecting better product mix,
expense controls and the impact of changes to settlement and contract reserves. We
continued to achieve great progress in our program to increase product innovation
and improve customer satisfaction. Seven McKesson software products earned #1 or
#2 rankings in the 2003 Annual Top 20 Year End quot;Best in KLASquot; industry survey. No
other vendor had more. Three years ago, McKesson had no products that ranked #1 or
#2.
With our strong balance sheet, we continued to make strategic investments to
enhance our multifaceted offering to customers. During the year, we acquired Sky
Pharmaceuticals, a leading supplier of unit-dose, bar-coded packaging for hospitals,
having packaged more than 300 million doses in the past 12 months. Sky's
capabilities complement our previously established bulk-tobottle retail repackaging
operation. We now have a comprehensive packaging solution, which is already seeing
increased demand resulting from the FDA's mandate for bar coding of hospital
medications. We also acquired the remaining 50% of our SI Baker joint venture. SI
Baker is the leading provider of end-to-end, high-volume prescription dispensing
technology. It is the cornerstone technology for our automated refill center (ARC)
strategy we provide to large retail chains. On April 1, we completed our acquisition of
Moore Medical, an Internet-enabled, multichannel supplier of medical-surgical
products and pharmaceuticals to non-hospital providers of healthcare. Moore's reach
and technologies for the alternate site market dovetail nicely with our existing
leading position in this segment. We will continue to invest in the future, with $30
million of incremental spending for key initiatives planned in Fiscal 2005, including
our Medication Safety Solution, our Rx Access drug card for seniors and our Payor
business.
Well-Positioned for Continued Growth
As a result of our recent organizational changes, continued focus on operating
efficiencies and expense controls, favorable market conditions, comprehensive
solutions to address healthcare's need to improve quality and reduce cost, product
innovation and strategic initiatives, we believe McKesson is well positioned for
sustained growth. I continue to be especially pleased with the integrity, execution,
accountability and productivity of our dedicated employees. Since 1999, we have
grown our revenues by $39.5 billion, while maintaining our headcount at 24,500
employees — a remarkable 132% increase in revenues per employee in just five years.
McKesson today is an exciting place to be. We sit in the middle of the fastest-growing
and most rewarding segment of the American economy. My thanks to our employees
for their hard work and abiding commitment to our success, to our customers for their
loyalty and cooperative spirit, to our supplier partners for their collaborative approach
to our mutual goals and to our shareholders for their continued support.
5. Despite the near-term challenges in our business, the cost challenges faced by many
companies today and our plan to increase investments in long-term opportunities,
McKesson should deliver growth again in Fiscal 2005. Longer term, the health of the
business and the soundness of our strategies should enable McKesson to grow
revenues in excess of 10% per year and achieve earnings per share growth in the mid-
teens. I'm very pleased with our achievements and look forward to strong
performance in Fiscal 2005.