The Pharmaceutical Services Negotiating Committee (PSNC) today (April 13) announced the results of its 2023 pharmacy pressures survey, which in January polled more than 900 pharmacy owners and head office representatives covering more than 6,200 pharmacy premises.

The major survey found that almost eight in 10 (78%) pharmacy owners are “extremely concerned” about their business finances, it said.

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Some 44% told PSNC that their business is “losing money” instead.

“Won’t survive another year”

PSNC warned that “rising costs and significantly increased workload” are “putting businesses at greater risk of collapse”.

It said that “increasing cost pressures” mean that almost three-quarters (73%) of pharmacy owner respondents “didn’t know how much longer the threats to their businesses could be managed”.

Around a sixth (16%) “don’t think that they will survive another year”, while 6% believe they won’t survive another six months, it revealed.

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It comes as the “majority” (96%) of pharmacy owners are facing “significantly higher costs than last year” – up from 80% in last year’s pressures survey – PSNC reported.

“If financial and other support is not forthcoming from government, then more community pharmacies will either be forced to reduce the number of services that they provide or in the worst-case scenario, to close their doors for good,” it warned.

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More than four in ten (44%) reported being unable to provide locally commissioned services to patients, PSNC added.