Prednisone is a multi-purpose medication that can be used to correct the levels of corticosteroids, as well as to treat a number of other conditions. It works by changing the way immune system works. Depending on the condition you are being treated for prednisone can be prescribed in different dosages and you will have to take it at the same time every day to make sure you remember it. If you happen to miss a dose you can take prednisone as soon as you remember, unless it’s almost time for a new dose. In that case just skip the dose you missed and go back to your regular dosing schedule.