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Informative Article | Regulatory Affairs | United States of America | Volume 12 Issue 11, November 2023 | Rating: 5.1 / 10
Quantifying the ROI of Regulatory Compliance in Pharmacies: A Cost - Benefit Perspective
Fayazoddin Mohamad
Abstract: Regulatory compliance in pharmacies often appears to be a cost center, with investments in software, staff training, and audits. Yet, these expenditures can yield measurable returns by reducing penalties, improving operational efficiency, and safeguarding a pharmacy?s reputation. This research article develops a cost - benefit model designed to quantify the Return on Investment (ROI) of compliance measures. Drawing on case studies and existing literature, the model incorporates direct compliance costs (e. g., software and audits) as well as risk mitigation benefits (e. g., penalty avoidance, increased customer trust). Our findings suggest that well - structured compliance initiatives can bolster long - term profitability and reduce exposure to regulatory risks, positioning pharmacies for sustainable growth in a highly regulated environment.
Keywords: regulatory compliance, pharmacies, cost - benefit model, return on investment, sustainable growth
Edition: Volume 12 Issue 11, November 2023,
Pages: 2252 - 2254