Pharmacy owners can now access customised analyses of changes to the PBS predicted to 2020, based on their pharmacy’s own dispensing data for 12 months
The Pharmacy Guild of Australia has released the latest iteration of its financial forecasting product ScriptMAP.
A spokesperson for the Pharmacy Guild says the new tool, ScriptMAP 2020, will help community pharmacy assess alternative business strategies over the next four years.
“Prescriptions account for an average 66.5% of pharmacy revenue, making intelligence on projections the necessary first step in helping owners manage their pharmacy business and minimise risk,” says the spokesperson.
“By analysing a pharmacy’s dispensing data, ScriptMAP combines volume growth, substitution rates, discounting data and trading terms to evaluate the expected gross margin for the business to 2020.”
The robustness of the forecasting is underpinned by each individual PBS code being estimated iteratively, based on knowledge of its patent status, timing of price variations, the historical trends of associated drug classes, and the structures of the 6CPA, explains the Guild.
“These forecasts are applied to the unique dispensing mix and assumptions of the pharmacy so as to estimate the PBS revenue and margin in future years.
“Aggregating across all PBS items, the difference between these future years and current financial year is then calculated to show the net change in remuneration.”