PSA, Aspen create innovation grants

"innovation" hot key on keyboard

The PSA and Aspen Pharmacare Australia have announced new awards to recognise and celebrate innovation in pharmacy through sustainable business practices.

The Aspen Pharmacare Australia and PSA Innovation Grants seek to identify and pursue innovative ways to improve customer satisfaction and engagement, business profitability and sales growth in all areas of pharmacy practice.

National President of the PSA, Grant Kardachi, says the awards seek examples of innovation that increased pharmacist-customer engagement, targeted customers with health promotions and professional services, and increased collaboration with other health professionals.

“They also seek to identify innovation in increasing consumer health outcomes and pharmacy business through the use of S2 and S3 products, and in maintaining and growing pharmacy dispensary through sustainable business practices,” Kardachi says.

“Aspen Pharmacare Australia and PSA share a common belief that the landscape of Australian retail pharmacy is continuing to change and in the highly competitive retail pharmacy market businesses can no longer run as they did in the past, relying on supply alone.

“The Aspen Pharmacare Australia and PSA Innovation Grants share the goal to see pharmacies transform into health service destinations.

“Economic and environmental factors show this is a timely strategy for moving community pharmacy from a focus on throughput of prescriptions and discounting to a consumer-focussed model centred on health and quality services.”

Cathie Hilton, Deputy Head of Prescription Business at Aspen Pharmacare Australia, says in this changing environment pharmacy is adapting by implementing innovative changes and approaches throughout their dispensary, OTC and front of shop.

This change, while delivering better customer health solutions at the same time, needs to continue to deliver profitable margins to sustain and achieve business growth.

“This project between Aspen Pharmacare Australia and PSA challenges the profession to identify and seek new and innovative ways in which pharmacy can achieve customer satisfaction, business profitability and growth in all areas of the pharmacy including dispensary, OTC, front of shop,” she said.

The six recipients of the Innovation Grants will each receive $2000 towards travel, accommodation and registration to attend the PSA15 Conference to showcase their innovation in a poster session.

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