Pharmacy profits drop by thousands while workload spikes

Pharmacies’ profits have plummeted by more than $28,000 in the past year, despite dispensing thousands more prescriptions, according to just-released figures.

Accountancy firm Moore Stephens Markhams released its third annual Pharmacy Benchmarking Survey, at a launch event come Christmas party in Auckland last night (30 November).

Michelle Norton, senior journalist with Pharmacy Today takes a closer look, read more here.

Pharmacy Guild says results concerning

The survey results are concerning, and the Pharmacy Guild encourages pharmacists to look at how they can make an impact on the upcoming changes in healthcare, chief executive Lee Hohaia says.

The guild will do its best to make sure it’s going to be a good environment to work in, but the next few years are not going to be easy, Mrs Hohaia says.

“We would start to say these results are a trend,” she tells Pharmacy Today.

The financial situation will result in pharmacies making compromises which will therefore impact on patient service, Mrs Hohaia says.

There has also been a growing number of small pharmacies which are only focussing on dispensing, and this is creating extra competition, she says.

“We are seeing more and more pharmacies open up in medical centres, the direction the Governement wants us [pharmacies] to go in, but they sell less retail,” Mrs Hohaia says.

The Pharmacy Guild is using the survey results to show the Government how factors such as the drug margin shortfall is putting pressure on pharmacy businesses.

Print version as published in PharmacyToday.co.nz Feb 2016 available here.

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