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Pharmacist

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AVG. SALARY

$121,350

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EDUCATION

Doctoral degree

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JOB OUTLOOK

Stable

Real-Life Activities

Real-Life Math

Tim Gallagher worked as a community retail pharmacist for 15 years before taking a job managing a dozen pharmacies in southern Minnesota. He says students don't need an extensive math background to succeed in pharmacy, but they should be good with numbers.

"If you're compounding IV solutions in a hospital, a 10-fold error is going to kill a patient," he says. "From my perspective, business math knowledge is also beneficial, like knowing what things cost, and what the reimbursement is. Some new pharmacists -- I'm just shocked -- they don't understand that if a drug costs you $50, and you're reimbursed $40, it's costing you $10."

One of the roles of a hospital pharmacist is to order the drugs -- on as tight a budget as possible.

It means careful decision making: you want good prices and good quality. Sometimes you have to choose a more expensive pharmaceutical because it is more effective.

It's difficult to know exactly which medication may be used more than others in a given month, because you can't predict how many injuries and illnesses will happen.

Because of the budget restrictions, a pharmacist may end up being conservative when ordering supplies. There's always the risk that you may run out of a certain pharmaceutical before a new shipment comes in.

When that happens, a pharmacist needs math skills to convert the medicine that is on hand to the correct dilution.

You're working in a hospital pharmacy. A doctor comes in asking for 100 grams of 2 percent hydrocortisone ointment. All you have on hand is 5 percent hydrocortisone. How do you dilute the 5 percent cream to 2 percent?

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.