$40k profit crunch alert
November 8, 2013
Pharmacy Alliance Members
from across the country have been
updated on the impact of Extended
and Accelerated Price Disclosure, in
a series of workshops in the lead up
to further cuts on 01 Dec.
Until now new off-patent
products have been subsidising the
negative impact of EAPD reductions
on pharmacy profitability, but
from the beginning of next month
reductions on atorvastatin,
olanzapine, quetiapine, venlafaxine
and more will flow directly to the
bottom line, with minimal patent
expiries to replace the reductions.
Pharmacy Alliance has calculated
that a pharmacy turning over $2.2
million will see a $40,000 impact
for the next 12 months - and this
is expected to continue due to the
looming ‘patent cliff’.
“Pharmacies need to continue to
focus on profit opportunities that
exist today through substitution,
and look into other areas of add-on
sales,” the company said.
More than 100 Pharmacy Alliance
members attended the meetings
in Perth and Melbourne, where
they were updated on the new
Pharmacy Alliance Generic Module
program (PAGM) to help protect
their profits.
Other issues discussed included
the implementation of “new,
cutting edge trends to generate
new customers and revenue
streams,” along with local
marketing tips and cost effective
social media marketing tools.
“With retail and consumer
confidence predicted to increase
leading to Christmas and beyond,
pharmacies have the opportunity
to increase profits and avoid
taking a financial hit due to price
reductions,” Pharmacy Alliance said.
Upcoming member meetings will
take place in Sydney South on 12
Nov, Sydney North on 13 Nov and
Brisbane on 14 Nov.
The above article was sent to subscribers in Pharmacy Daily's issue from 08 Nov 13To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 08 Nov 13
