Pharmacists are under increasing pressure to provide a range of services so we have created some simple calculators to help you decide which to offer.
Some contractors regard this as an opportunity to increase their business, protect their business or even as loss leader to drive footfall and prescriptions.
Though the reasons as to why contractors provide these services varies and depends on individual circumstances, it helps to understand the financial basis to understand how much providing the service either can affect the bottom line.
We have created some simple calculators to help you in the initial stages of deciding if a service is worth delivering and can be used as a start for your business case.
Services calculators available:
There are several questions to ask initially:
- By not doing the service, what would you lose? Would a competitor increase his market share at your expense?
- If decide to pursue a service, what will it cost and how much will you make?
- For MDS and care homes, how many homes or trays can your business financially support?
- For private services how many customers to you expect to have? And what can you charge to be competitive in your local area?
Once you have considered these questions, our calculators will help you make an appropriate choice and represents a guide to your profit and loss when providing the service.
The figures used in the calculator are based on working assumptions as indicated on each calculator.
The calculator is set up based on the English and Welsh NHS income levels and Drug Tariff, but you can make adjustments appropriate to your business.