The AJP Podcast

Resilient profession gets its reward

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Australia’s pharmacy sector is set to benefit from the extraordinary certainty over the course of the Eighth Community Pharmacy Agreement (8CPA), a business advisor tells our latest podcast 

AJP Podcast presenter Carlene McMaugh talks with Paul Hedley the principal partner of Hedley Partners about the 8CPA and its impact on the pharmacy market. 

Topics covered include: 

  • Pharmacy’s “incredible ability to pivot” in response to challenges and changes (2 minutes 30) 
  • 8CPA provides a direction of pharmacies to adopt a service focused business model (3:29) 
  • Pharmacy owners need to control the controllables knowing there’s a “certain inevitability about 60-day dispensing” and resulting revenue loss (5:10) 
  • The 8CPA will not only protect pharmacies’ revenue, but also enhance the value of businesses (9:08) 
  • The agreement is a recognition of the importance of of pharmacists logistically to the government and a form of reward for the profession’s efforts during the Covid-19 pandemic (13:40) 
  • Following the uncertainty caused by 60-day dispensing buyers are starting to actively look at pharmacies following the signing of the 8CPA (14:56) 
  • Turf war between GPs and pharmacists may be dissipating due to GP workforce crisis, and the community will be the winner (19:13) 
  • Conditions right for a high degree of activity in the pharmacy sales market (22:00) 
  • Big players’ appetite for acquisitions is likely to increase (23:24) 
  • Characteristics of successful (and not so successful) pharmacy owners (27:37) 
  • Tips for pharmacists looking to buy their first store (32:12) 

    • You can access the full transcript of this podcast here. While we endeavour to ensure all important words and phrases are correct, please note there may be some minor inaccuracies in the transcription.

    ACCESS PODCAST TRANSCRIPT

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