Pharmacies are forced to adjust to funding cuts and need to assume additional responsibilities within primary care.
As GP services become more stretched, pharmacy businesses are under greater pressure than ever to assume more responsibilities within primary care in return for little additional funding, with the NHS pharmacy contract being predominantly designed to remunerate contractors for prescription volume.
If a long term solution to the primary care crisis is to be found, the pharmacy contract will need to change so that it adequately rewards those pharmacy contractors who invest in and provide additional primary care services.
As a consequence of the funding cuts, pharmacies are operating with lower profit margins which adversely affects goodwill values, with many pharmacies forced to make redundancies or consider selling up prematurely.
Lower profit margins and an NHS contract that is not fit for purpose are two factors that are also leading many pharmacists to consider alternative private revenue streams, such as offering travel vaccination services or even turning their backs on ownership completely and taking on new roles within primary care. Others are looking to exploit online opportunities.
When resource is scarce, pharmacy businesses need legal advisers who can reliably act on their behalf, quickly progress matters and provide seamless advice across all business areas.
Our multi-disciplinary team has a nationally recognised reputation in the pharmacy sector with particular expertise in managing large numbers of acquisitions and sales.
We provide a range of specialist services including pharmacy contract applications and oppositions, corporate acquisitions and disposals, corporate restructuring, regulatory, professional conduct, property, employment and professional disciplinary issues, including representation at GPhC FtP hearings and MHRA investigations.
With clients spanning single pharmacies, independent small chains, emerging online businesses and a pharmacy group with over 750 sites, we tailor our approach to suit all our pharmacy clients.
