Hospital Pharmacy Buyer Salary
A Hospital Pharmacy Buyer earns an average wage of $19.80 per hour.
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$32,016 - $59,437|
|Hourly Rate||$15.09 - $24.63|
|Total Pay (||$32,016 - $59,437|
Job Description for Hospital Pharmacy Buyer
A hospital pharmacy buyer is in charge of purchasing and maintaining inventory within the pharmacies and drug repositories of hospitals and large clinics. Such pharmacies generally fill patient prescriptions and provide them with drugs, bandages, light durable medical equipment and even over-the-counter medicines. The pharmacy buyer purchases the inventory on hand, typically working to maintain certain cost controls and traditional inventory management procedures.Read More...
The pharmacy buyer seeks out ways to control costs for both the hospital and its patients; for instance, the buyer is likely to purchase both name-brand and generic drugs, and when multiple equivalent brands exist, the buyer works to find the best price on those items. The buyer also takes advantage of volume discounts. The buyer also purchases over-the-counter medications and materials such as bandages, non-prescription salves and small durable medical equipment such as canes or crutches. Another key aspect of this job is inventory management, with the buyer typically conducting inventory for pharmacy supplies on hand, establishing par levels and working with hospital pharmacists to ensure proper accounting and rotation.
Because the hospital pharmacy buyer position is likely to require both supervisory duties and a strong knowledge of pharmacological requirements, most individuals in this job are licensed pharmacists. Most buyers also have extensive experience as pharmacists as well.
Hospital Pharmacy Buyer Tasks
- Ensure inventory supply, order processing and distribution of pharmaceuticals and supplies.
- Negotiate with vendors to obtain optimum service and price.
- Monitor and analyze pricing and adherence to contracts.
Pay by Experience Level for Hospital Pharmacy Buyer
Pay by Experience for a Hospital Pharmacy Buyer has a positive trend. An entry-level Hospital Pharmacy Buyer with less than 5 years of experience can expect to earn an average total compensation of $38,000 based on 12 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Hospital Pharmacy Buyer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $41,000 based on 18 salaries. An experienced Hospital Pharmacy Buyer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $48,000 based on 11 salaries. A Hospital Pharmacy Buyer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $41,000 based on 6 salaries.
Key Stats for Hospital Pharmacy Buyer
Rated 4 out of 5
based on 7 votes.