Chemist + Druggist is part of Pharma Intelligence UK Limited

This is operated by Pharma Intelligence UK Limited, a company registered in England and Wales with company number 13787459 whose registered office is 5 Howick Place, London SW1P 1WG. The Pharma Intelligence group is owned by Caerus Topco S.à r.l. and all copyright resides with the group.


This copy is for your personal, non-commercial use. Please do not redistribute without permission.

Printed By

UsernamePublicRestriction

Just 7% of pharmacy owners say their business is ‘profitable’, reveals PSNC

Only 7% of pharmacy owners say that their business is “profitable”, the pharmacy negotiator’s annual pressures survey has revealed.

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.

Read more: Feeling the pinch: How funding cuts are leaving contractors out of pocket

Only 7% of pharmacy owner respondents reported that their pharmacy business is “profitable”, while almost half (48%) said that their business is “only just profitable”, it added.

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.

Read more: Pharmacy closures 'exacerbated' by PCN recruitment, warns government review

Meanwhile, just 6% reported that the “threats” to their business were “manageable”.

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.

Read more: UPDATED: Halt PQS until pharmacy funded fairly, PSNC tells government

Around half (52%) of pharmacy staff – with more than 2,000 pharmacy team members including managers, technicians, dispensers and counter assistants also polled in January – said that the pharmacies they work in were already unable to provide advanced services for patients.

 

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

 

Related Content

Topics

         
Pharmacist
Oxford
£32 per hour

Apply Now
Latest News & Analysis
See All
UsernamePublicRestriction

Register

CD136928

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Thank you for submitting your question. We will respond to you within 2 business days. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel