THE University of Technology (UTS) Community Pharmacy Barometer Interim Report from May draws further on the adverse impact of 60DD where 216 decision makers showed the lowest optimism scores since the Barometer Report started, in the value of their pharmacy business (PD 14 Jul).
A drop in confidence scores, which have plunged to a dismal 60.8 from a healthy 146.8 in Nov 2022, is seeing decision makers, including owners and managers, needing to pull any levers they can.
When asked what strategies they would consider as a result of 60DD, well over two-thirds said they would need to start charging for professional services currently offered to the public for free, such as home delivery and webster-packing, and 50% would also decrease the number of professional services offered by their pharmacy.
Furthermore, 62% of decision makers would consider reducing the number of pharmacy assistants, and worryingly, nearly half would reduce the number of pharmacists employed, the report uncovered.
The findings that would further impact on the public is that nearly half of the decision makers could cut opening hours on both weekends and public holidays.
The 60DD policy is adding more grief to workforce retention with just over one-third expressing that they are considering leaving community pharmacy.
Two-thirds of managers and owners shared they are having difficulties in filling pharmacist positions with 47% taking more than three months to fill positions, 26% up to a month and 27% in total from one to three months - meaning a highly skilled and clinically trained workforce is experiencing a contraction as confidence is demolished in the future viability of the profession with 60DD adding fuel to the fire on this issue, the report found.
The main reasons provided were no applicants or no suitable applicants found, too high wage expectations and community pharmacists switching to hospital pharmacy.
UTS Pharmacy developed the Community Pharmacy Barometer in response to industry challenges and perceived gaps in knowledge about the impact of policy and practice changes on community pharmacy businesses and professional practice.
Barometer questions were designed to assess the confidence of pharmacists in their business in the short-term (one year) and the medium-term (three years).
Created by UTS Pharmacy in conjunction with IQVIA and the UTS Pharmacy Expert Panel, the Barometer report is sponsored by the Commonwealth Bank.
The above article was sent to subscribers in Pharmacy Daily's issue from 17 Jul 23
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