Common dispensary problems include poor procurement, reliance on dispensing fees, high stock levels, staffing costs, income and discounts not received and incorrect VAT reimbursement claims, Dispensing Doctor Solutions told the DDA conference.
In a presentation, entitled: Maximise your dispensary profitability, DDS directors Prad Savania and Dr Wayne Turner highlighted the key ePACT2 areas that dispensary managers should be scrutinising. These include:
- Top twenty items by volume and cost
- PA items
- Specialist drigs
- Generics report
- PDPI tool
The DDS team said they see large variations in dispensary profitability, ranging from loss-making to 30% net profit. The key to profitable dispensing includes lies in early identification of the problems and quick implementation of solutions. Other good practice involves creating a practice formulary that puts dispensary profitability at its centre and maintaining DSQS fee income.
View the presentation: Maximise your dispensary profitability