Like most pharmacy owners, a great deal of your wealth is held within your business. This is necessary for most business owners as the business builds and there are debts to repay. Acknowledging of course the low interest rate environment we are in that will assist many small business owners and the recent budget announcement,
A publication examining the issues for our clients Whats in this issue; “JRx” Rebrands to “PP Rx” EMA Now Includes Payroll Capability New Guild Gov. Pharmacy Agreement The Team Helping You Take Care of Business A word from the editor By Mark Nicholson “JRx” Rebrands to “PP Rx” For over five years now JR Pharmacy
It’s that time of the year again, time to give your pharmacy a health check. As communities battle the onset of the traditional flu season, community pharmacies are battling the implications of the most recent round of price reductions on PBS medicines; and the broader financial impacts of the ongoing sector reforms. With the 1st
Thanks to two new websites and the readily available technology we are all using everyday, you can have one. In fact, your customers can now have a doctor in their lounge room, their office, or out and about on the go by visiting Doctors on Demand and QuickScript.
NAVIGATING THE PROCEDURAL REQUIREMENTS UNDER THE FAIR WORK ACT AND THE HEALTH SERVICES MODERN AWARD Terminating an employee can be a difficult and often emotional part of operating a business. The stress of termination can be compounded by the prescriptive procedural requirements around termination of employment contained in the Fair Work Act 2009 (Cth) (Act)
Having found a pharmacy opportunity it is important to understand if it is affordable. The affordability question is distinctly different from the question of what the pharmacy valuation is. Each pharmacy has a different set of circumstances, therefore each must be considered on its own merits.
Many of my pharmacy clients don’t rely entirely on their business to support them in retirement. They take advantage of the concessions to be had investing in superannuation and invest in companies they like to build their wealth. Depending on the answers to the questions I ask them, they may only invest a small amount
AND THE CONSEQUENCES OF FAILING TO TAKE CARE OF EMPLOYEES’ SAFETY AND WELLBEING Employers are ordinarily aware that sexual harassment in the workplace is against the law. However, recent case law has displaced previous assumptions about the kind of awards that can be made against an employer or employee that commits, or is involved in
There are a number of insurances to look at when in business. An example for Pharmacists to consider might be insuring the lives of their business partners so the business partner’s estate can be paid their share of the business in the event of death. Another major issue that could cause a pharmacy business to
There has been much commentary on the impacts of PBS reforms and price disclosure on dispensary sales, gross profit and substitution, yet the flow on effects to Pharmacy valuations are certainly much less discussed if not less understood. As a Pharmacy owner, do you understand the impact of these reforms on the net profit of