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Pharmacy news – Independent pharmacies losing money and cutting back services
Pharmacy news - Independent pharmacies losing money and cutting back services
Most independent pharmacies in England lost money dispensing medicines for the NHS last year and many revealed they reduced their opening hours and number of staff to cope, according to a study by the National Pharmacy Association.
Over 90 per cent of the 222 independent pharmacy owners and senior managers who responded to the online survey last month made a net loss for one month during 2022 while 48 per cent suffered a loss for six months of the year.
The study also found that 93 per cent of owners endured at least one month of “negative cashflow” across their business and 45 per cent said “overall outgoings exceeded overall income” over six months.
The study also revealed potentially worrying consequences for patients’ health and wellbeing. More than a third of owners said they had reduced their opening hours, 59 per cent reduced staffing, 38 per cent limited or stopped some NHS services and 59 per cent curtailed or stopped services that were previously free such as home deliveries or started charging for them.
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Independent pharmacies losing money and cutting back services