Stock Management (Desktop App)

GoodX is not responsible for providing stock lists and prices.

Stock updates are done on a weekly or daily basis with data that the practice/hospital receives from their stock list providers. It is therefore important to make sure that the practice/hospital updates GoodX with the newly released stock prices by importing the new prices via the internet into your GoodX Software's PostgreSQL database. 

It is important that the client update the stock items and the prices on a regular basis.  

Glossary

Medprax

Medprax is a data interface containing medical aids, medicines, and materials information.

Medprax is updated once a week if a practice is registered with Medprax.

Medprax updates the following information for medicines and materials:

• Nappi codes
• the list price per item
• descriptions (name, strength, size, volume, and presentation)
• discontinued items
• new items
• updated items

IQest

IQest is a data interface containing medicines and materials information. Stock file for hospitals and NHN signed clients. 

IQest is updated once a day if a hospital is registered with IQest.]

IQest update the following information for medicines and materials:

• Nappi codes
• the nett acquisition price per item
• descriptions (name, strength, size, volume, and presentation)
• discontinued items
• new items
• updated items

NHN (For Hospitals)

National Hospital Network (NHN) was founded in 1996 with the prime objective of bringing together leading independently owned private hospitals and medical facilities under one umbrella to gain synergy, cost-effectiveness, and to collaborate on best practice patient care.

NAP (Stock Prices for hospitals)

Net acquisition price - Applicable to hospitals and NHN clients. This is the price that hospitals are allowed to charge on patient accounts.

List Price (Stock Prices)

The recommended price from Medprax that can be charged on the patient account which most medical aids will pay.

Sales Price

The sales price is the price that will be charged on patient accounts per item.

The calculation: list price + markup % = sales price per unit/pack

Markup

Some specialities are allowed to ask a certain percentage on certain items. Please make sure before a markup is applied on items that the markup is allowed by the medical aids. If the price is to high the medical aid will reject the line item.

Purchase price

The amount the items are bought from suppliers. The price on your supplier invoice per date per item.

Last Purchase Price 

This is the last amount paid towards the item. Every item has its own Last Purchase Price.

Weighted Average

Depending on the setup the weighted average will be calculated as the sum of the last 5 years' purchases divided by the quantity that was bought.

Cost of Sales

The cost of sales will only be calculated when the item is sold. The weighted average will be used per unit and multiplied with the quantity that was issued to the patient. The value will only be displayed on the stock reports and not on the patient accounts. 

GP% and GP Rand Value

GP% - Gross Profit percentage. The GP will indicate if the practice/hospital is making a profit or a loss on items. The system will take the purchase price per item and deduct it from the sales price for that same period and convert this to a % or Rand value per item per period.