Pharmacy Benchmarking Survey
Insight to strengthen your pharmacy business
About the Benchmarking Survey
Each year, our accountancy team conducts a national Pharmacy Benchmarking Survey, providing pharmacy owners with valuable insights into the performance of their businesses compared to industry standards.
Confidential, relevant and actionable
The survey is completely confidential and highly regarded by pharmacy owners throughout New Zealand. Participants use the findings to support business planning and decision making, with the assurance that all data is anonymised before analysis.
Our report benchmarks key performance indicators, financial ratios, monetary trends and other critical metrics. It also includes practical recommendations from our business advisers on areas that could be addressed to improve financial performance.
Why participate?
By taking part in the Pharmacy Benchmarking Survey, you can:
- Gain a clear picture of how your business compares with industry peers
- Identify opportunities for improvement in profitability, efficiency and operations
- Access objective, data-driven recommendations tailored to the pharmacy sector
- Use insights to inform strategic planning and growth decisions
2024 Pharmacy Benchmarking Report
The 2024 Pharmacy Benchmarking Survey shows higher script volumes, stronger gross margins and ongoing cost pressures, highlighting the need for strategic action to sustain profitability.
- Prescription volumes rose above 80,000 per year on average (up ~6% from 2023) following removal of the $5 co-payment in July 2023; most scripts remain exempt from charges.
- Dispensary sales reached 82.4% of total revenue; retail sales fell below 20% for the first time in 12 years due to lower consumer spending and increased competition.
- Gross profit margins improved slightly to 34.6% (from 34.3% in 2023).
- Net profit before tax increased to 7.0% (from 6.3%), but remains below pre-pandemic levels.
- Government funding now makes up nearly 75% of total revenue.
- Wages and locum costs held steady at 20.3% of revenue, though higher in absolute terms due to inflation.
- Opportunities identified: stock management improvements, expansion of professional services, and tighter cost control to offset declining retail contribution.
Historic Pharmacy Benchmarking Surveys
Partner with Moore Markhams for pharmacy success.
With decades of specialised experience in the pharmacy sector, Moore Markhams combines deep industry insight with robust financial expertise to help you navigate a changing healthcare and retail landscape. From our annual Pharmacy Benchmarking Survey to tailored advisory services, we provide the data, strategies, and support you need to optimise performance, strengthen profitability, and prepare for the future with confidence.
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