Finding Efficiencies for Your Pharmacy is More Important Than Ever
Pharmacy is one of the foundational pillars of modern healthcare and while everyone recognises the vital role that pharmacies play in the day-to-day delivery of front-line care, the reality is that the economics of community pharmacy are under immense pressure.
Community pharmacy is now at a tipping point and as in many other developed markets, revenues are capped and competition is more intense. There is also an increasing expectation on pharmacies to play a stronger role in managing chronic conditions. These challenges are not new, but it is now more important than ever that pharmacies find efficiencies wherever they can.
Increasing demand for convenience and expertise – Whether it’s prescription services, personal care products, or clinical services, the priority is shifting towards expertise, convenience, and accessibility. Playing a more service-led role in managing chronic conditions and developing more clinical, revenue-generating services has been a long-term aim of the community pharmacy sector. But where does this leave community pharmacy? How can community pharmacies maintain core NHS dispensing provision to their patients whilst freeing up capacity for new revenue opportunities?
Intensifying competition – Even without the external environment pressures, pharmacy is a ferociously competitive marketplace. The industry continues to consolidate slowly. With the demise of the high-street and the rise of “out-of-town” shopping, supermarkets are becoming an increasingly competitive force in the pharmacy landscape. It is getting harder and harder for community pharmacies to compete as margins continue to tighten.
Squeeze on budgets – The fixed five-year £2.6 billion annual funding agreement in the Community Pharmacy Contractual Framework (CPCF) will reduce NHS dispensing profitability when set against rising annual costs. An ageing UK population will continue to drive increasing dispensing volumes and the removal of the establishment fee and a review of generic reimbursement will further exacerbate this difficult operational and financial situation.
Meeting These Challenges
With all of these challenges and more in mind, we are always looking for new ways to bring value to our customers. Not just in terms of price, but also in terms of features and functionality, that are forward-thinking and directly address the everyday challenges faced by our customers.
And that is where our exclusive partnership with HubRx comes in.
HubRx is developing the UK’s first, centralised, automated dispensing facility that is designed for and dedicated to, independent pharmacies. Their state-of-the-art hub dispensing facility, with its fully-integrated technology, will liberate capacity, space and profitability, enabling pharmacies to transform, into a service-led role and meet the challenges that the sector is facing.
Capacity – for pharmacists and business owners to deliver new clinical services
Space – to enhance the clinical service-delivery potential of your pharmacy
Profitability – Secure the ongoing viability of your business
HubRx is independent of wholesalers, buying groups and agencies. This independence and whole-market buying approach allows them to bring the most competitive large-scale automation solution to the dispensary of even the smallest independent pharmacy.
HubRx will be fully integrated to work seamlessly with our system, delivering a highly efficient dispensing process. Message integration between RxWeb and HubRx will ensure you
have full visibility of the assembly and logistical progress of each prescription while patient messaging within RxWeb will keep patients informed of when a prescription is ready for collection or local delivery.
If you would like to register your interest or learn more about this exciting new opportunity we recommend heading over to the HubRx website, using the link below. The guys would be delighted to discuss how your pharmacy business can get involved.