Despite advances in other new professional services and pharmacy departments, the dispensary remains the engine room of community pharmacy.
According to Pharmacy Connect Conference Convenor, Kos Sclavos AM, it is critical that pharmacy owners and staff understand how the dispensary is performing as a department to ensure their pharmacy remains viable.
“Without a viable professional service of dispensing, a pharmacy simply will not survive,” Mr Sclavos said.
“There are a number of key metrics community pharmacy owners should measure to understand how their pharmacy is performing against industry trends.
“For example, in addition to gross profit dollars per prescription, pharmacy owners need to understand what is happening to under co-payment medicines and the impact on pharmacy viability.
“Additionally, if pharmacies are offering the $1 discount to patents, they need to understand the bottom line impact.
“Understanding these key metrics will help pharmacy owners to set an appropriate staff roster while ensuring viability is maintained. The trend line is that the productivity of staff needs to increase otherwise pharmacy viability is at risk.”
Pharmacy Connect will host a must-attend session titled ‘Do you know how your dispensary is performing?’ to help pharmacy owners understand key metrics to ensure pharmacy viability is maintained.
This session will be led by the highly experienced, results driven economist and The Pharmacy Guild of Australia’s Group Executive Health Economics, Philip Chindamo.
Mr Chindamo said the session will utilise valuable insights from Commonwealth data and ScriptMAP analytics to provide benchmarking data to compare the effectiveness of a pharmacy’s dispensary.
“This session will show how the community pharmacy network is performing during the life of the 6th Community Pharmacy Agreement,” Mr Chindamo said.
“This will be discussed in the context of the broader economic trends and Federal Government policy towards the industry.”
Mr Chindamo has high level policy analysis and technical economics skills which have been applied in numerous economic policy development processes at the Federal and State levels of government.
Given the current industry discussion around the Government’s optional $1 discount policy with the 7th Community Pharmacy Agreement negotiations currently taking place, this session will enable pharmacies to make better informed decisions regarding their dispensary to ensure pharmacy viability.
The session will be held on Saturday, 7 September 2019 from 2pm at Pharmacy Connect.
To view the program and to register for Pharmacy Connect, held from 5 to 7 September at Hilton Hotel in Sydney, click here