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Mar
6

Is Your Profitability Falling?

BY GREG BULL  |  POSTED IN GENERAL NEWS

Are you sure you are maximizing your dispensary profitability?

Dispex are now offering a full independent Dispensary Audit for dispensing doctor practices from £1050 + travel at 45p per mile plus VAT for a single site, 1 day review with full report for Dispex member practices.

A number of practices have already taken up the opportunity of a full dispensing practice audit, and here are some of their recent comments:

               “Yes thank you, your report was gratefully received and we have been discussing and making changes as a result of your visit.” – Verity, Deputy Practice Manager Marlow.

               “Thank you so much for the report and presentation it was excellent and it has been a great help to allow a fresh pair of eyes to look at what we are doing.  It was reassuring to hear your feedback…..  There are a number of management points raised that we intend to work on first.” – Tracey, Practice Manager

               “Thank you for sharing your knowledge and expertise with us.  We all found the day extremely useful and I now feel motivated to get the ‘ball rolling’ and make some positive changes!” – Lucy, Practice Manager

Carried out by a Pharmacist with nearly 30 years’ experience in Community Pharmacy, management and Dispensing Practice, a Dispensing Practice Audit will give your business the opportunity to ascertain how well it is performing in comparison to over 60 other practices across England and Wales. Performance may be judged not only by profitability, but also efficiency and effectiveness of the dispensary functions.

A Dispensing Practice Audit could cover some or all of the following areas, depending upon the needs of an individual practice:

               •Gross profitability for the dispensing activity

               •Advice on dispensing choices and practice formulary

               •Assessing the balance of CCG pressures and commercial reality

               •Clinical governance of the dispensary and audit of DSQS

               •Logistical analysis of the dispensary processes and efficiencies

               •Strategic and business development

               •Utilisation of pharmacists in General Practice

               •Preparation for a CQC Inspection

The reviews have been designed to be completed in one day, followed by a written report for the practice to consider further.

When considering whether such an audit would be beneficial for a practice, it is essential to engage with all interested parties in the practice/business to allow for everyone to have input and therefore also ensuring that those same people have interest in the output of the audit. To this aim, a short meeting with the practice team, such as the Dispensary Manager, Practice Manager and Lead Dispensary GP tends to lead to a more effective audit and successful outcome.

Some of the key findings from recent audits include:

•Lack of compliance to the practice formulary and thus reduced profitability – considers new clinicians that may not be aware of the consequences of their prescribing

•Unopposed input from CCG Medicines Management team which has led to reduced dispensing profitability – designing alternative options for better win-win scenarios

•Poor prescription administration identified from full analysis of Open Exeter statements, and leading to an overhaul of counting and checking processes and reduced losses

•Missed discounts from new manufacturer discount deals that have not been signed up to

•Reduced purchasing discounts from varied generic buying methods, including issues around Price Concessions

•Improvements in the logistics of the repeat prescription processes, leading to more efficient working patterns and improved safety in dispensing

•Review of the operational effectiveness of combining Pharmacy and Dispensing businesses into a Hybrid business

If you think your practice would benefit from a Dispensary Audit or to discuss your needs in more detail then please contact michelle@dispex.net or phone me on 01604 859000.