10 things to know about review panel’s financial survey
14th July 2017
- The salary drawn by pharmacy owners varies widely, from less than $40,000 to more than $100,000 for a “significant minority”.
- Annual sales above $1 million are more common in metro areas. Profits are also higher in urban locations.
- Virtually no rural or remote pharmacies reported profits above $200,000 a year.
- On average, less than 5% of revenue is used to service debt.
- City pharmacies receive more remuneration from government-supported services, with most income from Dose Administration Aids (DAA).
- Pharmacies received less in wholesaler discounts than they did the previous financial year. Some rural and remote pharmacies receive higher discounts than their city counterparts
- DAAs, sick leave certificates, opioid dependence treatment and staged supply are the most common fee-based services offered by pharmacies
- One-third of pharmacies provide pharmaceutical services to nursing homes