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The impending pharmacy funding cuts is an issue that will impact independent pharmacy the most, making it vital for us to act now! As a company as independent as you are, we at Mawdsleys are here to offer expert advice and support through this challenging time.
In support of the National Pharmacy Association’s (NPA) actions to secure the future of independent pharmacies, we have created a campaign to provide guidance in anticipation for the proposed £170m cuts. We suggest that the most impactful approach you can take to maintain and protect your revenue at this time, is to start making better use of technology. As daunting as this may sound, we are confident that we will provide you with achievable actions, intended for you to start putting in place now!
Keep an eye out for your ‘Pharmacy Cuts Survival Pack’, which will be delivered to your pharmacy soon. This pack contains a brochure consisting of five detailed sections on how to best utilise technologies to improve your cash flow and profit.
Ensuring that you are being reimbursed correctly is a simple yet significant step towards improving your cash flow. The PSNC provide a useful guide to check whether you are endorsing items correctly, at http://psnc.org.uk/dispensing-supply/endorsement/. Effective use of a pharmacy’s PMR system is crucial at this point, as it will help to make a reasonable estimate of overall NHS income and enable payments to be monitored in accordance to this.
Additionally, conducting MURs and NMS for patients who need them, as well as flu vaccinations and locally commissioned services such as smoking cessation are practical ways of generating additional income, as well as improve patient loyalty. Payment for MURs is £28 per consultation, with a maximum of 400 per year; this means an extra £11,200 in revenue.
Making good use of your PMR system to segment customers and easily identify those who are suitable for advanced and locally enhanced services, is also a recommended action. A good PMR system will allow you to segment by several variables, leading you to identify suitable customers to approach.
We also suggest use of a first class EPoS system to help grow your OTC sales and allow you to offer loyalty schemes and targeted promotions. Bear in mind that professional merchandising services can also make a positive impact on your OTC sales.
Similarly using technology in order to buy more efficiently is vital. As you know Direct to Pharmacy (DTP) and Reduced Wholesale Model (RWM) has a big effect on independent pharmacists. Order Manager systems will take away the stress of ordering DTP products from several different wholesalers, as well as improve compliance for generic scheme purchases and automated Parallel Import substitutions; ultimately facilitating you to buy more resourcefully.
So here you have a brief insight into the advice your survival pack has to offer and how utilising technology can be a key factor in growing your business. Information given here is explained in significantly greater detail throughout your survival pack brochure, but please do not hesitate to make contact should you have further queries. Supplementary materials to add to your packs will follow on a monthly basis.Help us shout about the critical services you provide to the public, by sharing your inspirational stories with us either via Twitter @MawdsleysUK or by emailing us at email@example.com.
Helping ensure patients have access to the drugs they need, when they need them.
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