CONFIDENCE in the value of pharmacy as a business has lifted back up to pre-COVID levels, revealed the latest University of Technology Sydney (UTS) Barometer yesterday.
The 13th UTS Community Pharmacy Barometer, which tracks the perceptions of the viability of the pharmacy business, surveyed 250 pharmacy decision-makers to reveal that confidence has lifted by over 30 points from the last report to come in at 110.4 (PD 12 Jul).
Lead researcher and UTS Head of Pharmacy Charlie Benrimoj said the data tool shows that pharmacists surveyed have "reacted to changes, are adjusting, and feel that they are going to cope".
"But the first key message is that we have recovered something like 30 of the 50 points we dropped in May this year (PD 14 Jul)".
The reasons for this confidence are varied and the majority of decision-makers in this research have implemented at least one strategy to help cope, he added.
"Most of the pharmacy decision-makers surveyed have implemented at least one strategy to overcome the perceived negative impact of the 60-Day Dispensing policy, with the most common strategies being to charge for professional services that were previously free, increasing the range of professional services on offer, and reducing the working hours of pharmacy assistants and other staff," Benrimoj commented.
Main services added on are the Govt-driven ones specifically vaccinations, prescribing to treat UTIs and the resupply of oral contraception for women.
The services discontinued are those that were not remunerated such as blood pressure checks and free delivery, some diabetes initiatives and webster packing.
Unsurprisingly, the services added are the ones where funding is available from the Govt such as vaccinations, dispensing medication for UTIs, and oral contraception.
The main free initiatives that pharmacists have started charging for are delivery and documentation certification, blood pressure checks and webster packing.
Another strategy implemented is that prices have been increased to cope with the loss of revenue due to 60DD, Benrimoj explained.
The decision-makers surveyed are also taking steps that include reducing staff and hours, cutting down on pharmacy assistants, and reducing after hours on weekends, he concluded. JG
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