Pharmacy

Pharmacy
 

PHARMACY
 

Pharmacyhealth_image.jpg
Aged Care
 

PHARMACY

 

Health Services by RSM

 

Pharmacy Advisory, Assurance and Consulting

The Pharmacy team at RSM provide services to both retail pharmacy and the pharmaceutical sectors.

Contact a pharmacy business expert

We know pharmacy and the healthcare sector, we speak your language and understand the immense challenges currently being faced.

There are also real opportunities to adapt through new technology and approaches in how you do business and manage your risks.


At RSM, we act as your strategic partner, providing critical and timely insights. Whatever your needs may be.

KEY CONTACT

Peter Saccasan is a Pharmacy business expert

Peter Saccasan
National Director, Pharmacy

T: +61 2 8226 4500
[email protected]

 

 

 

RSM offers Safe Harbour strategies

Your pharmacy cashflow: a great story, or are you dreaming?

18 March 2016
‘The king is dead! Long live the king!’, as they say when the monarchy passes on. In the case of pharmacy, the old king (turnover or sales or the PBS cheque) has long passed its use-by date as a key indicator of the business. It’s what you get out of the sale and what you do with it that counts. You can start with GP$, manage your costs and keep an eye on stock. Fr

Jack of all trades, master of…?

18 March 2016
For many years the pharmacy industry has been doing battle with primarily the grocers who have been eyeing off the foot traffic that travels in and out of pharmacy and trying to divert that into their stores.

That dollar discount – the power of 3!

5 February 2016
EVEYRONE knows what the dollar discount is about.  So let’s just talk about some issues. Firstly – it can apply to ALL scripts.  The big focus has been on concessional patients but the discount can apply to general scripts as well. 

Practical business planning, it's easy as now, where, how

15 January 2016
Building a business plan is not difficult. Yes, it does take a little time, and yes, it is a useful process. The process can be brought down to just three clear steps: where are you NOW? WHERE are you headed? HOW will you get there?

How hot is too hot?

9 December 2015
The market for pharmacy businesses is very strong at the moment with what appears to be the unleashing of unmet demand in the run-up to the close of 5CPA and the commencement of 6CPA. I am seeing seriously high prices being paid for many businesses. How is the price determined?

Make the RIGHT connection or go broke trying

5 November 2015
Most pharmacy owners use key performance indicators to some extent in monitoring their pharmacy. Invariably all of the KPIs will focus on trading, on the profit issues. Very few will focus on the balance sheet and, if they do, it will only be on stock. To ensure you are in a sound financial position, you need to bring the balance sheet more into the picture and con

Are you on the professional services starting line?

31 October 2015
One of the key announcements relating to the 6th Community Pharmacy Agreement (6CPA) was the continuing importance placed on community pharmacy programs . There has been an increase from the 5CPA commitment of approximately $600m up to an amount of $1.26b.

Cash remains the key to success

12 October 2015
‘Things change but everything remains the same’, as they say. Despite the confidence that has come back to the market after 6CPA, owners still need to focus on business growth through gaining script growth, driving retail sales, implementing professional services and managing expenses. For those owners who may have borrowed significantly in recent times there are t

Planning DOES pay off!

11 September 2015
There are some truly focused pharmacy owners out there. Over the past month I have had the pleasure of interacting with three pharmacies who were winners in the Guild Pharmacy of the Year. The common theme that rose to the surface in our discussions was that each one of them was systematic in their approach to transferring their passion into their business. The bus

Partnerships - the three G’s!

31 August 2015
That’s right - getting in, getting along and getting out. Going into business with colleagues has a certain appeal to it, sharing the load in many respects. You can share the financial burden, the business stress, management duties - even have alternate holidays so that the business runs smoothly. Many good points to admire I am sure, but when times get tough, who

The profit pain is over – or is it?

11 August 2015
6CPA has arrived and owners appear to have seamlessly moved into and absorbed the new way of being. In my last article I outlined the changes to remuneration, including the implementation of the new AHI fee. Relatively speaking, 6CPA has helped in slowing the impact of accelerated price disclosure and the train wreck that was appearing under 5CPA. The PGA has negot

RX evolution confirmed by 6CPA

10 August 2015
Dispensary profit will continue to be impacted and, without volume growth, the dollars may not be sustainable. The imperative remains for pharmacy owners to develop the whole of their business and not just dispense scripts.

Next year’s plan ready to go?

16 April 2015
No doubt those who attended APP 2015 came away with many ideas to implement in the pharmacy. Since that time there has been much dampening of enthusiasm with potential horror stories coming out around the imminent 6th Agreement and the 2015 federal budget.

A changing business model – start thinking

4 March 2015
It has now been almost 3 years since Lipitor came off patent and the real effects of PBS reforms started to make a dent in pharmacy profits. In that time we have witnessed shrinking profits and rising costs, and whilst generic substitution opportunities have increased along with the substitution fee, these have lagged behind the profit impact of reforms.

Low interest rates are good, right?

3 March 2015
The Reserve Bank has just announced a drop in interest rates to a record low of 2.25 percent, which should translate to continuing lending rates of five percent or less for most pharmacy owners. No doubt this was the cause for joy among owners with a reasonable level of borrowings, which seems to be the norm around the industry.

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