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Buying a pharmacy: What I wish I'd known

Louise Vickers explains how she took the plunge and bought a pharmacy – just as the recession struck

Worcestershire pharmacist Louise Vickers reflects on the time she purchased a pharmacy just after the economic crash 


Like many people, the one thing I really wish I had known was that the economic crash was going to happen in 2008.

Along with my husband David – a former financial advisor – I had just bought Evans Pharmacy in Malvern, when the bottom fell out of the financial sector.

It had always been my goal to run my own pharmacy. It had been a very successful pharmacy and I could see the potential in it, so we took the plunge. But from day one it proved more difficult financially than I had imagined, especially with the government gradually cutting funding to pharmacies.

Those cuts have become so serious that this year it is predicted that up to one in four community pharmacies could be forced to close, if the [£170 million funding drop in England] goes ahead as proposed in October.

In hindsight, if we had known the crash was coming, we probably would not have bought the pharmacy at that time. We have only been able to keep going by increasing the footfall we get through the door and by providing an excellent service. 

We really do care about people in the community and some are almost like friends. Over the period we have been here, we have increased footfall by about 50% and the number of prescriptions by a similar proportion. Hiring  good staff has been crucial. When we do, we try to hang on to them and they have been very loyal to us.

Looking back, the other key aspect of running a pharmacy that I had not fully appreciated was the paperwork. I did my pharmacy degree at Portsmouth University in the late 1980s, followed by a pre-registration year at Tremletts Chemist in the town. I spent five years as second pharmacist – and then manager – at the same outlet.

At that time, there was no degree module that taught students about the bureaucracy involved in running a business. It would have been useful to have received some business tuition, especially on areas such as accounting, wages, human resources and employment law.

Having to suddenly deal with all these areas came as a bit of a shock. I know all the clinical aspects of pharmacy inside out, but I have always been dependent on the National Pharmacy Association to give me all the [business] advice I need.

The GP angle

Looking back on my career, I think community pharmacy would benefit greatly from more interaction with GPs and their staff. At the moment, we are encouraging receptionists at our local surgery to spend an afternoon with us to see how we work. They go away with a better understanding of what happens here and communication becomes much easier. For example, sometimes prescriptions are not signed by the GP. A new receptionist at the surgery might not understand why we are not able to dispense drugs to the patient, so we explain that we are not legally allowed to. Simple insights like that make a difference.

Recently, we had a GP trainee to see first-hand how a pharmacy operates. We showed him our computer operating system so he could see what pops up on our screen when he presses a button at his end. That helped him understand the process.

We were also able to help him understand drug costs better. For example, some generic drugs that have only just come off patent can actually be more expensive than the branded ones. Sometimes, they can be twice the price. Now he’s aware of that, he is more likely to seek pharmacists’ advice.

Pharmacy degrees should include a module on how GPs work – they certainly didn’t when I was studying. Pre-reg pharmacists should also have to spend time in a doctor’s surgery to see how things are done.

People skills

Something else I did not quite appreciate when I started out was the need for a wide range of people skills, in order to communicate with patients effectively and sensitively. It would be great if this could be taught at an early stage – but, realistically, what could you teach? It’s the kind of thing that only comes with experience.

For example, when I was doing my pre-reg year, a lady came in one day with a massive sweet jar full of five or six different tablets for different conditions. She would empty all the tablets into the jar and just help herself to one a day – never knowing which one it might be. Often it was whatever colour she fancied at the time. It was quite an eye-opener for me as a young pharmacist.

Just the other day, a lady came in to our pharmacy and asked if we sold cabbages. The fruit and vegetable shop had closed down and she couldn’t think where else to go – so she came to us. That wouldn’t happen in a hospital pharmacy. But this element of the job – the constant human interaction – is what I love and that’s why I’m still a community pharmacist. I did try working in a hospital while I was at university but didn’t really enjoy it. It’s all about the drugs and nothing else.

Community pharmacy is an exhausting job. But I will keep going because I still love it.

 


What was the economic climate like when you bought your pharmacy? 

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Pharmacist Manager
Barnsley
£30 per hour

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