What pharmacies need to do to survive

Community pharmacies will need to innovate to survive into the 21st century, a former PSA president says.

Sydney pharmacy owner Warwick Plunkett says the twin pressures of aggressive competition from discount chains and narrower margins due to price disclosure have brought community pharmacy to a cliff edge.

They days of relying on revenue from dispensing and sales are over and pharmacies will need to innovate if they want to survive, adds Mr Plunkett, who is chair of the UTS: Pharmacy national industry advisory board,

“Certainly for me, having been in community pharmacy for a number of years it doesn’t look like dispensing model has a professional future.”