More than 1,000 community pharmacies now have received professional services income potential reports as part of the Pharmacy Guild of Australia’s Health Advice Plus program.
The program is a support service for member pharmacies who want to get started or need additional support to integrate and deliver successful health programs and services.
The first step in the process is to access the Opportunity Analysis tool – provided free of charge for Guild members – which analyses the income potential from services for individual pharmacies.
In October this year a milestone was reached with the 1,000th community pharmacy accessing the Opportunity Analysis tool.
The Pharmacy Guild’s Group Executive Member Services and Innovation, Colm Maguire, said the Opportunity Analysis was an invaluable tool in helping pharmacies develop business strategies and plan for the future.
“The online Opportunity Analysis tool provides a report that that includes an estimate of untapped opportunity potential and establishes a performance benchmarking mechanism to ensure this opportunity is secured as the pharmacy moves to a professional services model,” he said.
“It provides robust and realistic projections which can form the basis of future growth for individual Guild member pharmacies.”
The Opportunity Analysis report covers: 6CPA funded programs, fixed third party income, prescription and medication programs, and screening and testing services and is supported by an individual review session with a trained pharmacy coach.
This review session ensures the key learnings and opportunities are identified by the pharmacy, along with tips and suggestions on strategies for realising lost income.
Some of the findings from the 1,000 Opportunity Analysis include:
- 87 per cent of pharmacies have a private consultation room.
- 44 per cent of pharmacies are maximising their clinical Intervention potential.
- Only 28 per cent of pharmacies are maximising MedsChecks with an average of 12 a month.
- 56 per cent of pharmacies have not reached their DAA cap level.
- 72 per cent of pharmacies are currently providing vaccination services.
The Health Advice Plus and Opportunity Analysis Program has been developed as a partnership between The Pharmacy Guild of Australia and established professional services provider instigo. instigo has a strong track record of delivering targeted retail, marketing and professional service solutions to community pharmacies of all sizes and in all demographic areas.
instigo General Manager, Andrew Pattinson says of the 1,000 milestone: “The pharmacy industry continues to undergo great change and 90 per cent of pharmacies have reported a need to change in relation to professional services.
“This need will come into sharp relief with even more significant changes to the industry – such as electronic prescribing- coming into play. Interestingly, the number one barrier being reported by pharmacies to making changes is the pharmacy team itself.
“The Opportunity Analysis and Health Advice Plus coaching program gives pharmacies the tools and guidance to navigate organisational and structural change to better prepare for the future.”