Financial Management & Funding

By Richard Thomas, editor, Pharmacy Magazine Regulation is an expensive business these days, it would appear, if the GPhC’s proposal to raise the annual premises fee by nearly 40 per cent is anything to go by. What caught our eye was a finding buried in the accompanying impact assessment, which suggested that over half the pharmacies in the research sample are operating at a deficit. Confirmation, if any were needed, that the pharmacy sector is “demonstrating a notable fragility” (in the words of Ernst & Young) was provided by a slew of headlines in recent weeks concerning the financial tribulations of Boots, LloydsPharmacy and Pharmacy2U.

The new contract is simply part of the DHSC plan to force closures, says Sheffield pharmacist Chris Armstrong

By Richard Thomas, editor, Pharmacy Magazine Is the new contractual framework in England a good deal or a bad one for community pharmacy? Rather like Orthrus, the two-headed dog in Greek mythology with each head pointing in a different direction, there are two diametrically opposed views on this. Both are represented in this issue, from “total disaster” on the one hand to “best hope of changing our fortunes” on the other.

By Alexander Humphries For community pharmacists the last few years have been an emotional roller-coaster, from the pits of despair to the giddy heights of... mere despondency. If you are anything like me, you will have been living hand-to-mouth, struggling to pay the bills at the end of the month, while the decision-makers from their insulated metropolitan bubbles look to strangle the sector financially because they perceive there are too many pharmacies.

By Simon Dukes, chief executive PSNC You may well be thinking that primary care networks (PCNs) is just another primary care shake-up. In some ways it is – but there are some important ways in which this one is different for us. First, this change is going to reroute a lot of primary care funding directly through networks of GP practices while specifying seven key services that these networks must deliver. Some of these services are due for roll-out from April 2020 and they include structured medication reviews (by clinical pharmacists), enhancing health in care homes, anticipatory and personalised care, supporting early cancer diagnosis, CVD diagnosis and prevention, and local action to tackle inequalities.

Government funding cuts and the growth of online dispensing led to mergers and acquisitions of community pharmacies dropping off by almost a quarter

PSNC and the BMA have published a guide for GPs on how community pharmacy works, with the aim of facilitating collaborative work between the sectors

Reports that over 200 Boots stores are being considered for closure over the next two years have not been confirmed by the multiple

Vaughan Gething has today announced a £100,000 funding package to provide 50 pharmacists with specialist minor ailments training

Pharmacists’ business confidence is rising, with three in five anticipating profits to go up this year, though confidence “remains in negative territory”

Boots UK’s pre-tax profits fell dramatically in the year to August 2018, dropping £100m from £498m to £398m, the latest Companies House report shows

Pharmacists should check people’s eligibility for benefit-related exemptions “at the time the transaction occurs” to reduce fraud or error, the NAO said

Parent company McKesson is looking to “accelerate” its UK restructuring programme, with “further closures of retail pharmacy stores” anticipated

Naproxen 250mg tablets account for the largest projected overspend (projected additional cost of £713,599 in April on top of tariff cost of £478,904)

The changing NHS landscape presents opportunities for community pharmacy but the sector will need to adapt, PSNC has said in a new video animation

A 2019-20 financial package for pharmacy in Scotland with a £2.6m uplift from last year is “not quite” what CPS hoped for due to “one outstanding issue”

By Richard Thomas, Editor, Pharmacy Magazine Pharmacists in England have long cast their gaze enviously towards their colleagues north of the border. A smaller population, shorter lines of communication and greater alignment between the profession and those in power are obvious advantages. However, there is a clarity and sense of direction regarding pharmacy in Scotland that is completely lacking in England.

Savings from NHS England’s OTC prescription guidance appear to be falling far short of an expected target of up to £100m each year

The Welsh Government plans to pump £4.9m into “transforming” the training it offers pre-registration pharmacists and doubling pre-reg places

Eoghan O’Brien has had promising results from a local scheme he helped set up to tackle type 2 diabetes