King Review to conduct financial survey of pharmacy

Professor Stephen King has invited community pharmacy to participate in the Review of Pharmacy Remuneration and Regulation’s financial survey of the sector.

Prof King extended the invitation as the Review panel continues work on its draft recommendations and interim report.

“The Panel is aware of a number of similar financial studies of community pharmacy,” Prof King writes in his December message.

“However, we feel that these do not provide the level of detail (pharmacy location and business model) or reach (coverage of all pharmacy types and membership bases) to build the best understanding of the current, and possible future, operating environments for pharmacy in Australia.

“For this reason we are requesting the broad support of community pharmacies to the Review’s own purpose-designed survey which will be used to develop a comprehensive financial analysis of the sector.”

The online survey is planned to gather readily available financial data regarding pharmacy remuneration in Australia. 

All data collected by the survey will be de-identified and will be maintained in the strictest confidence, Prof King says

Neither the Review Panel nor the Department of Health will have access to financial information provided by any individual pharmacy.

“In the next week I will be writing to around 1500 individual pharmacy owners and pharmacy managers across Australia inviting them to participate in the online survey.  

“The pharmacies selected for invitation will be based on a representative spread of community pharmacies across metropolitan, regional and remote areas, covering all PhARIA categories and operating models.

“As an incentive for completing the survey, all participating pharmacies will be provided with a personalised summary report from which pharmacies may compare their own data with aggregated data from other pharmacies on key financial and PBS related measures.”

Pharmacists can register interest in participating via the link on the Review’s webpage.

The survey will be available to complete until 16 January 2017.

“I understand that this request comes at a busy period for pharmacies and that your time is valuable,” says Prof King.

“However, the support of as many pharmacies as possible in responding to our survey will be vitally important in ensuring that the Review makes recommendations that appropriately reflect the challenges and opportunities faced by the breadth of Australian pharmacies.

“With your continued support, I feel we stand the best chance of obtaining the most relevant financial analysis to inform the Review’s recommendations on the future of community pharmacy in Australia.

“We look forward to a healthy level of response from as many of you as possible.”

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