1. Introduction Inevitably a core decision for any pharmacy business is where it decides to trade from. When choosing to lease premises the terms of your lease can be critical to the success of your business. In many cases a pharmacist will sell or acquire a pharmacy business with an existing lease, which brings with
Pharmacies may have experienced super profits and a significant increase in turnover in the past few years due to the demand of baby formula and other health products in China. Fuelled by domestic safety scandals and an increasingly affluent and rapidly growing middle class, Chinese demand for international brands offering trusted reputations and quality products
The last few months have seen improved cashflow in the pharmacy as a result of the improved remuneration in the dispensary - thanks to the higher dispense fees including the AHI fee. The effect of price reductions flowing through manufacturers and wholesalers will continue to have downward pressure on trade terms in the latter half
A restraint of trade is a mechanism used by purchasers of businesses to protect the value of their newly acquired business (specifically, the goodwill created in that business by the vendor) against improper competition. Whilst existing pharmacies are protected to a degree from new pharmacies opening, or competing pharmacies moving within a defined radius of
The 6th Agreement has yielded a reasonable result for pharmacy in a financial sense. While there remains some downside risk around loss of trading terms, the floor in the GP$ per script will land at a higher level than previously contemplated. Together with the changes to the dispensing income, the additional service income will be welcomed not
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)