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
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.
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
Accurate financial reports are necessary when selling a pharmacy. However, accurate and timely financial information should be front and centre of your mind all the time. Tracking retail financial data enables pharmacy owners and managers to make decisions and control the performance of the business. In other words, make it ready for sale if that
Once again, APP has come and gone for another year. It was exciting to experience the optimism from most of the delegates, despite some corners of the market pushing the doom and gloom barrow. Particularly exciting was business owners accepting change and finding constructive and innovative ways to adapt their businesses.
This is a question to which you must understand the answer. With continuing volatile trading conditions, managing cash flow in the pharmacy is vital because external factors often restrict cash when it is most needed. The enormity of the 1 December 2013 price reductions on molecules in the dispensary were not felt until it came
The importance of margin in the retail area of pharmacy is often dismissed/ignored on the basis that the total store has remained profitable. Over the last decade there has been a proliferation of community pharmacies discounting retail products in the pursuit of customer growth.
Over the last five years the financial performance of pharmacy has been subject to the following. Flat script growth; Loss of retail sales; Flat to declining retail margin; Loss of customers; A period of rising overheads, namely rent and wages.
Previously we have written about the challenges of buying a pharmacy including some of the financial realities that surround a successful purchase. This article is about structuring for success. Pharmacy business structuring includes a myriad of topics such as ownership, staff mix/skill set, IT policies & disaster recovery plans, partnership agreements, sale/purchase option agreements, insurances