Avicenna conference: Independents take action now

Avicenna non-executive director Shiraz Hirji warned delegates that the proposed Government funding cuts could wipe £110,000 from a pharmacy’s practice allowance over five years.

He suggested that contractors should consider a series of actions now to counter the effects of the cuts including preparing a five-year cashflow forecast and business plan. “Look to your nearest competition – can you join forces?” he asked. “Look at reducing your [opening] hours and compare the cost versus benefit of everything you do.”

Independents should examine their business processes to improve efficiency and upskill their teams to provide more services. “Reduce your stock levels, especially counter lines, and consider whether time spent sourcing generic medicines is better invested elsewhere.”

Recommended

Two pharmacists shortlisted for parliamentary awards

Regulations introduce SSPs into terms of service




This website is for healthcare professionals, people who work in pharmacy and pharmacy students. By clicking into any content, you confirm this describes you and that you agree to Pharmacy Magazine's Terms of Use and Privacy Policy.

We use essential, performance, functional and advertising cookies to give you a better web experience. Find out how to manage these cookies here. We also use Interest Based Advertising Cookies to display relevant advertisements on this and other websites based on your viewing behaviour. By clicking "Accept" you agree to the use of these Cookies and our Cookie Policy.